With the constant development in technologies and the internet being present all day, humans are finding new ways in making their lives much easier and comfortable than ever before. Apart from this, technological advancements have also focussed on making tremendous amounts of money, that too from the comfort of the homes. One such marvelous invention was that of cryptocurrencies.
There is hardly anyone who has not heard about cryptocurrency recently, and about its importance in the current world. However, the process of generating digital currency and using it, which is also known as Mining, is one of the topics that not many understand. To help people understand mining and various cryptocurrencies better, many online websites, guides, and discussion forums are available online, on the internet. For additional information on the same, interested investors can visit this site.
You can use a GPU – Graphics Processing Unit – to mine various cryptocurrencies. GPUs are preferred over the conventional CPUs as the process of mining is generally long and expensive, and usually beyond the threshold levels that a CPU can handle. Stated below is a list of the 7 best cryptocurrencies you can mine using a GPU in 2023:
Table of Contents
Monero is a decentralized cryptocurrency platform, which keeps all your data, earnings, and profits highly confidential and secure. It is one of the most secure cryptos currently available in the market and uses non-traceable software, to prevent any tracking of your activity. The company was on the top list of 2023’s best cryptocurrency traders and is still here to make its presence count. The company had a whopping business with more than 3 million USD in market capitalization in 2023 alone. Also, 1 Monero currency is mined every 24 seconds. So, if you are looking to kickstart 2023 with mining and earning, then Monero could be your choice.
2. Ethereum Classic (ETC)
The daughter division of the parent Ethereum Blockchain, this company was launched in 2016 and has witnessed a booming business ever since. The Company has a market capitalization value of more than $13 Billion and is ranked within the top ten of the leading cryptocurrency producers of the world. One ETC block is mined and distributed every 10.3 seconds. This incredibly fast service has made it one of the most sought-after crypto traders by many.
Predominantly released in Japan in 2013, MonaCoin is another cryptocurrency that is quickly gaining control of the market. It has a very active base in Japan and has now spread to many other Asian countries. This was created as a meme coin, by an anonymous creator, with a cat-like appearance and got very famous within a few days. The Japanese authorities and government have allowed MonaCoin to be used in the regular lifestyle. This cryptocurrency creates a blockchain faster than Bitcoin, and thereby, is gaining popularity in the Western markets as well.
4. Bitcoin Gold (BTG)
The spinoff version of the world’s most popular digital currency, Bitcoin Gold has similar working principles as that of Bitcoin. Whereas Bitcoin can be mined only by using specialized hardware, called the ASICs, Bitcoin Gold can be mined using any hardware and was created for the larger section of the society who do not own an AISC. This digital currency mining requires less work, as it uses an Equihash protocol for the mining and distribution of the coins. But the rewards are at par with Bitcoin, and that is what keeps it in the game and makes Bitcoin Gold so popular.
The world’s first meme coin, Dogecoin now has a whooping business of over 20 billion USD. it has received attention and support from the world’s biggest and richest leaders, such as Elon Musk, which helped the company have a surge in its business. Dogecoin is a fully functional digital currency that can be stored for future uses and transactions. It is a cap-less cryptocurrency, which means that there is no limit to the mining and distribution of the same. Dogecoin is quite simple to mine, even CPUs can work, but GPUs are recommended for the same.
Just as the name of this cryptocurrency suggests, DASH is a combination of both, Digital and Cash. It was released in 2014, as XCoin. Later, it changed its name to DarkCoin, before finally adopting Dash in 2015. These can be one of the most profitable digital currencies to mine, as this platform allows its users to spend their money anytime, and at any place they want. It is an open-source, decentralized cryptocurrency, which was forked from Litecoin, the same company which was earlier forked from Bitcoin. New miners should definitely check this out as they have high exchange rates and some additional perks for their miners.
One of the oldest forms of digital currencies to ever exist, Litecoin provides its miners with easy mining processes with lesser hardware specifications and requirements. It quickly confirms your minings, distributions, earnings, and transactions, and transfers the funds to your bank account. It is an open-source license-based software program, which works with peers to peers, or simply P2P, transactions. This is one of the easiest digital currencies to ever exist and has a huge market. Litecoin is somewhat similar to Bitcoin and is one of the best in the market.
Cryptocurrency mining offers individuals and other miners to earn large profits, almost on a daily basis. These newly generated coins and digital currencies are ready to be circulated in the market. For maximum profits, you should mine for Bitcoin and Ethereum. GPUs are the common source to mine cryptocurrencies, but if you are considering making this your full-time occupation, then you may want to invest in ASICs. ASICs are a bit more expensive, but are way more powerful and have a lot of potential than GPUs. You can also decide whether you want to do the mining alone, on an individual level, or in a miners’ pool, with other miners as your co-workers. Of course, individual mining would yield you more money.