What is the best cryptocurrency to mine? Should you be mining Zcash, Bitcoin Gold, Vercoin? I will use our NVIDIA 1080 Ti GPU crypto miner on this video to show you how we do it!
Our mining hardware actually includes three of the EVGA GTX 1080 Ti video cards, which gives us a good hashrate and low temperatures when overclocked. Even though it cannot be used to mine Bitcoin, it is perfect for alcoin mining [and might be appropriate to mine Bitcoin Gold (BTG) soon].
We start off by going to the What to Mine website and specifying our hardware (three 1080 Ti's) and power consumption (in kWh) to determine our hashrates based on different mining algorithms and coins.
For a while, we were mining Zcash (ZEC) because it was the most profitable crypto to mine for the Nvidia cards. But on the day of this example, we used the Lyra 2 Revision 2 algorithm (Lyra2REv2) to mine Monacoin (MONA).
On the What to Mine tab mining profitability table, we see Monacoin as the top earner ($7.40 assuming a Kilowatt-Hour figure of $0.10, as of October 25th, the day this video was recorded), then Vertcoin (VTC), both coins being on the Lyra2 Revision 2 algorithm. After that, there's Zencash (ZEN) and Zcash, which are both on the Equihash algorithm. The Equihash algorithm also includes Zclassic (ZCL), Hush (HUSH), and Komodo (KMD). Monacoin is a big player in Japan, which legalized cyptocurrencies in brick-and-mortar stores, and provided access to Bitcoin ATMs, where you can withdraw fiat (paper currency) for your cryptos.
What to do with your Mined Altcoins?
This is a great question that will affect your overall mining profitability. Do you like to mine a more fundamentally solid cryptocurrency (Bitcoin, Ethereum, Zcash, etc.) on the list and hold on to it (HODL it, as they say in the crypto world) OR do you try to maximize your current profitability by mining whatever is on top of the leaderboard, then convert or exchange it for a crypto that you actually want to hold? Personally, I'm still holding on to all the Zcash that I have mined in the last few months. On this video, I'm going with Monacoin.
Can I Mine Bitcoin Gold with a GPU Miner?
On October 23rd, Bitcoin hard fork split occurred, causing the creation of Bitcoin Gold. What's interesting about this is that, even though Bitcoin mining has always been an ASIC-centric affair, Bitcoin Gold is supposed to allow mining via the Equihash algorithm via GPUs, our favorite type of miner. That means that you would be able use our 1080 Ti GPU mining rig to mine Bitcoin Gold, which is really exciting. Stay tuned for that!
So what cryptos do you mine and what do you do with your digital coins after you mine them?
Let us know in the comments below and make sure to subscribe to the channel for more updates on the crypto market and information on the sale of our three and six-GPU mining rigs.
Use Some of These Tools to Help you with Cryptos:
Access the Pro Version of the Tradingview Platform:
Open an Account with Binance and Start Trading Cryptos:
Trezor Hardware Wallet (the one I use):
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BTC - 13LiRV2XBANTT2QuEhtYTE38dg85YaThai
ETH - 0x6c257a94696819af580a22fd5f6b6818ac055f2e
LTC - LZE2cKwiTuh4FD2yU6qky1E7zbJmtcCG8h
ZEC - t1P2jacRH4V1W2hrkZfWgaqYzmU337UFVPh
DASH – XgBdE6uCgWRjRU3T6FDjcZcqqgoBUeBLBu