Mining has been profitable since around 2010. The other question is how difficult it is to do. The whole point is that mining algorithms, especially for bitcoin, are constantly becoming more complex. This also applies to coins that are limited in issue – that is, issued with a certain circulation.

Only by making mining more difficult can the creators stop the mining process, and this is also achieved by halving the amount of the reward per block mined. Nevertheless, as scary as it sounds, mining is still lucrative and in demand in the cryptocurrency community.

Earlier this year, RBC’s Crypto project published a news story stating that experts predict a gradual shift of personal mining to industrial mining. The former species will not die, but will remain in the minority.

If we rephrase the meaning of the question, we could ask it as “What is profitable to mine now?” – and that would be more accurate. Profits from mining depend on many factors, including the coin you choose.

In order to understand which coin is best to choose for mining, you need to pay attention to several of its indicators:

• capitalisation;
• its place on the cryptocurrency exchanges;
• its current exchange rate;
• experts’ predictions for the future.

All these factors should add up to a single picture, which will help the user choose a coin worthy of mining. So, we can safely say that miners are still doing their job for a reason, and mining is still on its rightful place on the financial world market.

You have to understand the 3 components that affect the profits of any online miner:

The cost of equipment and the purchase of coins – and on top of that there are also electricity charges (it’s important to understand that mining eats up a lot of electricity not equal to a regular PC), the internet rate, equipment maintenance and all that sort of thing;
The current price of crypto – it is volatile by the hour, so you need to monitor the market closely;
the amount of Coins – and this can also include the amount of rewards for them.
These truths have been brought to her attention by the Queen’s staff, and she gave the order to find the coins that will be profitable for her to mine this year. And it had to be done urgently and precisely.

7 coins that are profitable to mine now

The thorough analysis allowed us to choose 7 Coins that are most profitable to mine now, in 2022. By the way, the Queen’s humble servants were literally itching to put Ethereum altcoin on the second place of the ranking, but after the launch of Merge on September 15, 2022, when the platform switched to PoS algorithm, it is better to hold back that wish for now. The coin has now fallen significantly in value, renewing its all-time low. Many analysts are saying that it will not get any better, and in fact – mining ether will soon stop altogether. Our Queen is evil, not stupid. She is watching the situation with Etherum, but is in no hurry to start her cryptocurrency journey with it yet. Time will tell.

We’ve covered popular altcoins that can be mined before. Now let’s talk about all the cryptocurrency coins worth trying to mine this year.

Bitcoin (BTC)

Of course, it would be impossible to start this ranking without the very first and most popular cryptocurrency, Bitcoin. Mining it is old-school, profitable and lucrative. It is the one that started the history of the cryptocurrency community, and it is the one that still holds leading positions in all the rankings, even though many altcoins have learned from its mistakes and have significantly improved their technology. Incidentally, the real identity of the currency’s creator is still a mystery to the world.

The system is blockchain-based, conducts transactions quickly and charges minimal fees. This is one of the reasons why BTC still remains a flagship in the market. The upside is credibility. It has survived as many crises as it has proven its security and reliability.

Characteristics Description
Year of establishment 2009
Exchange rate against the dollar in September 18,000 – 22,000
Capitalization 360 982 067 368 dollars
Mining equipment Video cards, ASIC
Proof-of-Work (PoW) algorithm
New block creation speed 10 minutes
Reward amount per 1 block 3,125
Issuance 21 000 000
Revenue 19,155,275
We have already written in detail about bitcoin mining and how long it has left to live according to analysts’ forecasts. In short – despite the seemingly imminent retirement of the coin, it will live on the market for at least 100 years, and our grandchildren will still be mining it.

Bitcoin’s features:

Suitable for individuals and entrepreneurs to work with, both for regular mining and for investing;
BTC is affected by the price of other coins – if it is falling, others will follow suit, each at its own pace;
this coin works on almost every possible platform – marketplaces, various applications, websites, interacts with large corporations and international companies;
you can buy the coin from ATMs, and there are about 20,000 of them around the world.
Predictions for bitcoin are optimistic among almost all analysts. Many crypto-experts believe that the coin will continue to grow, and that it will be worth 250,000 to the dollar by the end of next year or so.

Dogecoin (DOGE)

It happens that what was initially intended to be a joke, eventually turns into something serious. That’s what happened with this coin, which was created as a parody of bitcoin and its altcoin clones, and ended up being mined by many. Even the coin’s icon doesn’t look cryptocurrency-solid: it shows a dog from a meme. But it didn’t take long before the coin gained huge popularity among users and became a real digital currency. By the way, among DOGE audience there is also Elon Musk who actively supports it.

Characteristics Description
Year founded 2013
Exchange rate against the dollar in September 0.05 – 0.06
Capitalization $7,993,807,786
Mining equipment Video cards and ASIC
Algorithm is a variation of Proof-of-Work (PoW) – Scrypt
New block creation speed 60 seconds
Reward amount per one block 10 000
Issuance is not limited
136,145,746,383 mined
Distinctive features of the coin:

It is more profitable for miners to join pools to mine the koin, as one new block is opened in the network every minute;
DOGE is an offshoot of LightCoin, so pools can mine both coins simultaneously;
The project is developed by like-minded people, not its creators;
the original idea of the project was to tip content creators, a trend that is still relevant to the DOGE community.
Analysts predict the coin will grow to $1 by 2025. Whether or not that will happen is unknown, but the fact that this joke coin continues to stay in the tops alongside other cryptocurrencies speaks volumes about its competitiveness and relevance.

Litecoin (LTC)

This is one of the first altcoins that began to be released after the success of bitcoin. Like other alternatives to the best-known cryptocurrency, Litecoin took into account the shortcomings of BTC and highlighted its merits against them. Within just a couple of years after its creation, the coin reached a capitalisation of 1 billion. It may not be the fastest figure among the kiosks, but it is still very impressive. By the way, it is also one of the few cryptocurrencies that have a roadmap.

Litecoin is still doing an excellent job as a data storage and payment system. The system has been on the market for more than a decade, so it’s considered one of the most trusted and reliable in the cryptocurrency community. It also accepts many different payment systems, including PayPal.

Characteristics Description
Year founded in 2011
Exchange rate against the dollar in September 51 – 63
Capitalization $3,725,098,189
Mining equipment Video cards and ASICs
Algorithm is a variation of Proof-of-Work (PoW) – Scrypt
New block creation speed 2.5 minutes
Reward amount per 1 block 6,25
84 000 000
71,205,533 mined

LTC features:

Good transaction speed and low commission percentage;
The system was created as a fork of bitcoin, and is still highly dependent on its “mood”;
The difficulty of mining the currency increases periodically, and it happens every 2-3 days;
the number of blocks has been increased to 84 million;
ASIC power consumption is significantly lower than bitcoin;
the coin has excellent algorithms for encrypting files, wallets and user passwords.
Litecoin’s audience began to grow again in 2021, when its founder, Charlie Lee, returned to work on the system. Accordingly, many analysts are predicting a positive outlook for the coin. The price is expected to rise to $86 to $170 by 2025.

Monero (XMR)

An anonymous coin that its creators did not limit its issuance. It works with hashing functions that make mining on video cards and ASICs equally successful. The anonymity of the transfers is designed in such a way that it is not done by one person, but by several at once – it is much harder to trace the transaction. It is possible to hide not only the addresses of the transfers, but also the amounts.

It first appeared on the market in 2012 under the name “Bytecoin”, but it was criticized. Then the creators have revised the approach to work and launched Monero.

Characteristics Description
Year founded 2014
Exchange rate to the dollar in September 141 – 162
Capitalisation $2,585,480,446
Mining equipment video cards and processors
Algorithm CryptoNote technology, Proof-of-Work (PoW)
New block creation speed 2 minutes
Reward amount per 1 block 3.4
No restrictions on emission
18,176,538 mined
Coin Features:

Its issuance is not limited to a certain number of coins, but the mining complexity increases periodically;
the system has a massive blockchain;
it is ASIC-protected, or rather it is possible to break into a platform with a mining farm, but quite difficult;
anonymity is mandatory, built into the transfer system rather than being chosen as one of the transaction options;
Has very low transaction fees.
Many analysts agree that Monero still has work to do, but in many ways the coin has proven to be more than excellent. In the nearest future, the coin will have stable movement, if not growth.

Zcash (ZEC)

This coin works with zero-disclosure protocol, which makes it anonymous. Like many other altcoins, it was also created in the wake of bitcoin’s popularity. But the point here is that the creator of ZEC is a fan of BTC. He took into account the fact that many users in cryptocurrency community don’t like that anyone can see information about their transactions. And he encrypted that data with his coin.

At the same time, transfer information can be kept private – the developers have left such an option open to users as well. It turns out that anonymity on this platform is solely in the hands of the coin’s owner.

In many ways, the coin duplicates bitcoin, for example, in the amount of coins issued. There is exactly the same number of Coins as BTC.

Characteristics Description
Year of founding 2016
Exchange rate against the dollar in September 50 – 65
Capitalization $694,977,637
Mining equipment Video cards and ASIC
Algorithm variation of Proof-of-Work (PoW) – Equihash
New block creation speed 2.5 minutes
Reward amount per block is 50
Issuance 21 000 000
12 835 994 mined
Coin Features:

In the case of ASIC equipment, only works with devices that have been designed exclusively for ZEC mining;
has low power consumption while mining;
the system is open-source;
provides full anonymity of the transactions.
ZEC has fallen and risen in value several times in its 6 years of existence, but still remains at the peak of popularity among users. It’s hard to say about the kinoin’s further value because of all the sudden ups and downs, but the fact that it will continue to exist and will stay around for quite a long time is a given.

Dash (DASH)

This koin is used by people who like anonymity. The algorithms work in a way that transfers and transactions remain classified. Or rather, the anonim function is selectable. The source code of the currency is similar to bitcoin, so the system allows mining of tokens as well. The anonymity of the transfers is ensured by special nodes in the system, which “split” the amount into several parts, mix it up and only then bring it to the recipient. Blockchain mining rewards, as elsewhere, go to those users who get to them first.

The system works with three transaction methods: regular transactions, Instant-X transactions, and fully anonymous PrivateSend transactions.

Characteristics Description
Year founded 2014
Exchange rate against the dollar in September 40 – 50
Capitalisation $448,353,064
Mining equipment Video cards and ASIC
Proof-of-Work (PoW) algorithm
New block creation speed 1 second
Reward per block 45%
18 900 000
Produced 10 923 625
Coin features:

Complete anonymity – ensured by PrivateSend, which shares and mixes the money;
lower mining complexity compared to other coins – due to the X11 hashing algorithm, which splits the blockchain into 11 transformations;
protection against monopolisation – the same algorithm allows regular users and those with powerful coin mining equipment to mine on equal terms;
users influence changes in the network – all because the DASH system is decentralised.
While DASH mining in general is not very complex, the system is designed to steadily increase the level of sophistication of mining. Roughly the same as bitcoin. As for the forecasts, there are different variations of them floating around the web, but in general we can say that the currency has proven to be reliable and worthy. There is speculation that it will increase in value significantly by 2024.

Ravencoin (RVN)

The creators of this coin copied the source code of Bitcoin, but modernized and improved it in their own way, and are now an offshoot of the world’s most famous cryptocurrency. The project is engaged in the business of transferring tokenised assets.

The name of the coin is a reference to the Game of Thrones universe. It was in that story that the characters transmitted messages to each other using ravens. Here, too, the asset-transfer platform has taken this particular bird as the basis of its name.

The Equalcoin cryptocommunity is growing very quickly and actively. Best of all, the platform has no executives. It is open source, it is run by like-minded people, and anyone can influence its development.

Feature Description
Year founded 2018
Exchange rate to the dollar in September 0.02 – 0.06
Capitalisation $432,365,379
Video card mining equipment
Algorithm variation of Proof-of-Work (PoW) – KawPow, UTXO technology
New block creation speed 60 seconds
Reward amount per 1 block 2500
Issuance 21 000 000
11 180 899 397 mined
Features of the coin:

it is not designed to be mined on ASICs, only on video cards;
like bitcoin, Equalcoin has a halving once every 4 years – the first one was in January this year;
it can be either mined or bought for fiat or cryptocurrency;
it is much more profitable to mine in pools than in singles;
it has not shown surprising results since its launch, but it is steadily penetrating the market without fear of competition.
According to analysts, Ravencoin has good prospects for the near future. So it’s safe to mine this coin.

What is better to mine on?

Even the most careful analysis of the profitable coins to mine now will not give a hundred percent guarantee that mining will necessarily bring fabulous amounts of money to your account. Much in the success of this endeavour depends on a number of factors:

the amount the user is willing to spend on mining;
The difficulty and willingness to mine the coins and how much you are willing to put into it;
The energy costs of mining – for instance, before venturing into cryptocurrency mining you may want to investigate how much electricity costs in your kingdom;
The equipment used for mining.
The last one is worth a closer look. First of all, decide for yourself – do you want to enter the cryptocurrency community as a regular user who just wants to start learning about cryptocurrency and trying out a new business? Or do you want to open up the world of mining with a foot of high-end, expensive equipment?

Both are good. It’s just that your choice of mining device depends on it. And there are 2 types created for home use:

ASIC;
video cards.
And what are their similarities and differences?

What does it mean to mine with ASIC?

The equipment is suitable for those who are serious about it. It is characterized by high power, hence high power consumption. Additionally, almost all ASICs are very noisy due to their specifics of work, so it is not reasonable to install them in a residential area. They should be placed in special rooms equipped as farms.

Asics are purchased most often for the creation of mining farms and for full active mining. The only thing to understand is that these devices are programmed for one particular algorithm. For example, SHA-256, which means that only bitcoins and closely related coins can be mined.

ASICs do not come cheap. A good device can cost up to 200 thousand rubles, but you need to study its payback and profitability – these parameters will tell you how soon the ASIC will bring the first profit, which will pay back your expenses.

What does it mean to mine on video cards?

It is more correct to call this device a graphics processing unit (GPU). They differ from asics in almost everything except the purpose of the work itself. Graphics cards stand in a PC, they are less noisy, don’t consume as much electricity, don’t require a separate room and generally, when they are no longer used for mining, they can be safely resold or used for video games. Versatility is their forte.

But they also won’t produce the same fast, strong and powerful results as the asics. And the surprising fact is that graphics cards pay off slower than asics. Yes, it’s all about power metrics exactly. On a GP it won’t allow you to mine a lot of coins at a time, and ASICs are increasingly being used on an industrial scale.

But there is another advantage of GPUs, which is especially important in Russia – they are easier to buy. GPs are sold in electronics shops, most often to order. Delivery usually takes no more than 10 days. Still, if the user is serious about working with cryptocurrency, rather than indulging, the best purchase is an ASIC.

Especially the differences between these two types of mining equipment can be seen in the comparison table.

ASIC video card characteristics
Year on market 2012 2010
Price high – from 20 000 to 200 000 rubles medium – from 6 000 to 100 000 rubles
Hashing speed medium – 60 Th/s medium – 60MH/s
Power consumption average – 1500W average – 200W
Noise level high low
Specialization narrow wide
Multi-tasking mining is most often designed for a single cryptocurrency can mine multiple cryptocurrencies at once
Difficulties for beginners are there, and they are quite minimal, it is easier to enter the crypto market
Payback period average – about a year average – 2 years
By the way, Koroleva decided to take a thorough approach to the issue of mining and chose an ASIC for bitcoin mining, which will stand in her dungeon – it will be outfitted as a farm.

How to mine more?

Just a year or two ago, the answer to this question was relatively simple: invest more – earn more. Today, however, there are too many related contradictory factors that make it difficult to say how to make mining more profitable.

These factors include:

The unstable political situation in the world;
Rising prices of equipment;
occasional drops in the price of cryptocurrencies;
the difficulty of mining;
the cryptocurrency market environment.
And yet, if the coins are being mined, it means that someone needs them. What’s more – it’s in demand. And in order to do it together with the cryptocurrency community, as well as to stay profitable, you should always calculate your own strength.

Planning to make crypto mining your own business? Great – get an ASIC and start your own farm. Just remember to evaluate profitability and payback of your equipment first, as well as your abilities soberly and well – you will have to pay rent for your space too. But it’s not too daunting on an industrial scale, to be honest.

In addition, to make more profit from mining, you need to keep up-to-date with the latest information about the cryptocurrency market. You should do it on official exchanges, as well as trusted analytics services like CoinMarketCap or Mapofcoins. It’s also a good idea to keep an eye on the RKB and Crypto news.

What does the future hold for mining?

Experts’ predictions for the future of the crypto community are always different. That’s why we’ve highlighted a few of them and present them for Queen’s judgment and your own.

Regarding Etherum.

Ethereum miners will have to switch to other coins in the near future, although don’t expect the cost of mining equipment that works with this coin to drop – Timur Bikbov, BDC Consulting.

Miners who used to work with ETH equipment will be able to switch to Firo, Ravencoin and Beam coins – Roman Nekrasov, ENCRY Foundation.

In the near future we can expect a boom of used video cards which worked with Ephirum on the market, and their price will be quite low – Dmitry Noskov, StormGain.

Positive

In 2023, the cryptocurrency market correction phase we are currently in will end, at which point the coins will take an upward direction – Benjamin Cohen, economist.

By 2040, bitcoin will be around $1 million – John McAfee, cryptocurrency expert.

In 2023, BTC will be worth $40,000+ per coin – Ronnie Moas, Standpoint Research.

Negative

In 2023, the price of bitcoin could fall below $10,000 per coin, with a maximum price of no more than $13,000 – The Economy Forecast Agency.

The average price for bitcoin next year will be around $20,000, with a low threshold of $16,600 (December) and a high threshold of $25,500 (January) – TradingBeasts.

Right now bitcoin is in the green zone, a low indicator of the cryptocurrency’s value, and not necessarily its lowest – Puell Multiple.

These 3 forecast variations prove one truth well: anyone working or just about to work with cryptocurrency needs to carefully study the opinions of experts in the field. Study, but don’t believe them 100%. Analysts are human too and can make mistakes, but more importantly, they will not be responsible if a user suffers a loss by trusting their words.

If you decide to engage in digital currency, always rely only on personal predictions like our Queen – she now has a mirror instead of a browser, she is no longer happy with her words spoken on emotion.