Best hardware of cryptocurrency miners in 2019

The double downturn in falling prices and the growing difficulty of mining was a complete knockout for the Bitcoin miners. U. Today determines whether it is necessary to stick to Bitcoin mining in 2019 and which other altcoins could be a good option in the following year.

Choose a new currency for mine

Due to the decline in cryptocurrency extraction, it is quite difficult to find a new currency for mining as criptovalute prices forecasts change almost every day. If you want to choose a new currency, you should perform a thorough fundamental analysis (the technology behind the coin, the developer team, etc.). We have compiled the list of the main factors that you need to consider when you extract new coins:

• mining difficulties;

• recent price fluctuations;

• price forecasts;

• market capitalization;

• the number of use cases;

• the background of the developers;

• presence on social media.

In the meantime, these are some of the "red flags" that you most likely want to avoid when choosing a new coin:

• the coin has an ICO;

• the project is selling masternodes;

• pre-mixed coins;

• & # 39; Copy and paste & # 39; coins like Ravvoin that bring nothing back to the table.

Make sure the extraction is profitable

After choosing the coin that fits all the parameters mentioned above, it is necessary to make sure that the execution of the mining operation will entail a profit (a rather demanding thing to do considering the current state of cryptocurrency mining) . There are many factors to consider, such as electricity costs, mining difficulties, etc. All these points will not be listed since there are many complex data mining calculators.

Another important point to keep in mind is that these parameters are constantly fluctuating, which makes the mining sector essentially unpredictable. Case in point: the mining giant Bitmain, which has recently fired half of its employees after tons of hype surrounding its impending IPO, which is already shaping up as a major underperformance.

L & # 39; O.G. currencies in 2019

Let's start with an O.G. currency – Bitcoin, which has become a multibillion-dollar business. This December, the mining difficulties of King BTC fell by 15% due to the smaller miners leaving the Bitcoin Blockchain en masse after major experts failed with their forecasts. In the middle of the encrypted route, the Bitcoin miners managed to cash in at 4.7 billion dollars, but the point is that the big mining companies are the main ones, while the run-of-the-mill miners remain on the sidelines .

The exodus of miners, followed by a drop in difficulty, makes it much easier for new miners to enter the market. Furthermore, it has recently been estimated that Bitcoin mining is still 50 more profitable than one of its iterations: Craig Wright's "mining-friendly" Bitcoin SV.

The same applies to another important currency – Ethereum, which faced downward forecasts for the whole of 2018. Miners who can benefit from low electricity prices are still active in the yo-yo market, while the difficulty of the mines continues to fall. Since Ethereum is too well established, you could also opt for Ethereum Classic, whose drawback difficulty was recently.

Monero and ZCash: private privacy coins

Monero is currently the 13th largest currency by market capitalization. The flagship of privacy is particularly attractive to miners, given its resistance to ASIC. This basically means that it is possible to extract Monero without buying expensive hardware, thus interrupting the Bitmain monopoly, which could already face serious problems according to expert forecasts. Bitmain invented a special miner for Monero, but the development team limited him with a fork that could make the ASIC extraction inefficient.

Obviously, the profitability of the currency was exploited due to the broken crypt, but low-cost GPU prices combined with low electricity still form a good combination for Monero's extraction in 2019. However, expect to get profits from the sale of XRM on a daily basis, despite some positive price forecasts.

Alternatively, you can also consider the extraction of another coin for privacy: ZCash, which is responsible for over 90% of all Equihash mining, although the recent peak in rates was a situation of empty swan for miners who had different forecasts. In July, ZCash made headlines because of its remarkable mining profitability: it exceeded the 400% Bitcoin.

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Horizen (ZEN)

According to whattomine.com, Horizen (formerly known as ZenCash before the rebrand succeeded) remains the Equihash-based currency with the highest level of rewards. In 2019, it is still one of the best currencies with your GPU.

Keep in mind that Horizen is still at the beginning of the PoW and has already distributed 5.3 million coins to miners. It would be ridiculous to expect substantial mining profits in the current bear market, but the project could take a bit of steam in the future, despite some gloomy pricing forecasts.

Litecoin (LTC)

Litecoin is another veteran of the block that has existed since 2011. It is a good option for those who want to opt for an already consolidated currency instead of buying coins with little or no background.

LTC stands out for faster transaction confirmations (block generation time is limited to ten minutes) and a more efficient storage solution.

A quick glance at r / litecoinmining will tell you that the community is in a good mood right now, with a bit of mine for heating the house or just keeping their hobby. However, our recent price forecast shows that Litecoin is currently following a bullish path.

Bitcoin Gold (BTG)

Bitcoin Gold is a fork of Bitcoin created specifically for GPU mining. In addition to upsetting the hegemony created by the super-miners of ASIC miners, Bitcoin Gold is also a marginally safer currency since miners do not have to rely on the hardware that is specifically designed to extract this coin. So, the BTG miners will not have to throw away their Antminer if their cryptocurrency is at the height of the most pessimistic price forecasts because they can easily put their botnet on something else.

How to maximize mining profits?

We've listed some of the more conventional (and fairly unconventional) choices, but it's pretty hard to summarize your choice of a specific coin when there are more than 2,000 options on the table. Thus, it would make sense to simultaneously extract more coins (up to all major threatening currencies) to protect against potential losses. It is not an investment advice, but trading currencies is an objectively good option in the highly volatile market where price forecasts tend to change very quickly.

The best coins for CPU mining

Yes, you heard right – CPU mining is still a thing in 2019 (just like in the early days of Bitcoin, even when the most daring price forecasts could not predict the current price). Of course, do not expect to earn a dollar (or even a single penny) with your old laptop. However, in order to collect coins whose price could skyrocket one day, it is possible to consider the extraction of the following CPU-oriented cryptocurrencies:

• Nimiq;

• Nerva;

• Pascal;

• Uplexa;

• Blur.

You can constantly keep track of the new GPU coins with the help of the newcpucoins.com website. One of the best strategies you can choose is to extract a coin that is basically worthless after doing a thorough research of the project and the team. The cryptocurrency market is still very nascent and there is a good chance that the value of a new currency may explode in the future (just be sure not to sell it prematurely).

Should you extract the encryption in 2019?

In recent years, cryptocurrency mining has turned into an enterprise-wide business, which means that the days when someone could quickly earn dollars with encryption is practically finished, despite some predictions about the return of mining craze. . In the first half of 2018, cryptocurrency prices started to drop and many miners were forced to cease their activities.

With the right approach, mining can still be profitable, but it is no longer a rapid enrichment scheme and the profit margin is much lower. Although most of the bullish price forecasts come true, it is expected that more powerful ASIC miners will appear on the market.

After all, you can still take out 1 BTC in Venezuela while you only have to pay only $ 531 because of its extremely low electricity tariffs. However, do not be tempted to put your bags in this "encrypted paradise" since the local government is not particularly favorable to miners, with some of them going to jail. There is also another option: Iran, where mines continue to generate profits with subsidized energy from the country's government.

We hope today has helped you find the best mining strategy to survive this encrypted winter.