July 15, 2022
By Sharan Kaur Phillora
Crypto mining has been around since 2009 when pseudonymous Satoshi Nakamoto created the flagship cryptocurrency. Back then, mining was relatively easy, and anyone could take part using a PC or laptop as there was next to no competition. While mining cryptocurrencies like Bitcoin and Ethereum has become nearly impossible using home PCs, there are still smaller altcoins that can be mined using a computer.
5 cryptos that can you mine from home
1. Monero (XMR): Monero is a popular privacy coin that can power private and anonymous blockchain transactions. Monero is designed such that it cannot be mined using application-specific integrated circuits (ASICs) or other powerful mining-specific machines. This makes it a great option for PC miners. To get started, download a wallet and mining software that is compatible with Monero.
2. Zcash (ZEC): ZEC is a great choice for miners to get started. Like Monero ZEC is also ASIC resistant. To get started, miners can either join a mining pool or solo mine Zcash. A mining pool provides a steady income stream due to the competitiveness since a solo miner will need to mine a block to get paid, which is quite difficult.
3. RaveCoin (RVN): RaveCoin has adopted a mining algorithm called KAWPOW that makes it ASIC resistant. RVN can be mined using any consumer-grade GPU. Miners can either mine RVN solo, join a mining pool or use a GamerHash platform.
4. Litecoin (LTC): Litecoin is one of the oldest cryptocurrencies and is an open-source P2P digital currency. LTC uses the Scrypt protocol, which makes it ASIC resistant. However, since the protocol is memory intensive, mining with a GPU is highly recommended.
5. Bitcoin Gold: Bitcoin Gold has similar fundamentals to Bitcoin. While Bitcoin is designed to specifically use the specialized mining equipment, Bitcoin Gold has been designed for mining using regular hardware. Bitcoin Gold adopts the Equihash algorithm, which makes it ASIC resistant and can be mined with any decent GPU.
While crypto mining is an energy-intensive process that requires high computing power, It is still possible to mine cryptocurrency at home without paying out for expensive ASIC miners or investing your life savings in a GPU mining rig. There are now cryptocurrencies being designed to enable mining on smartphones. One such cryptocurrency is Electroneum (ETN).
As technology improves and more people enter the mining space, the difficulty of mining will continue to increase. This is why it is important to do your research before investing in any cryptocurrency and mining hardware or software.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.