From buying GPUs (or ASICs) to power supplies and other computer components, cryptocurrency mining is incredibly expensive. The easiest cryptocurrency to mine is one that doesn't require you to build a massive crypto mining rig. For every complex equation solved, miners receive a small "fee" for their efforts. Mining is important as it helps verify transactions on the blockchain. Here are the top 5 cryptos to mine in 2023.
Monero
Monero (XMR) is one of the easiest cryptocurrencies to mine using a home computer. Monero is a privacy-focused crypto based on the CryptoNote protocol and utilizes the RandomX hash function to create increasingly complicated mathematical equations. You can either mine solo or join a mining pool, where your computer's resources will be used with others in the pool to mine XMR. It is among the top 5 cryptos to mine at home.
Zcash
Launched in 2016, Zcash (ZEC) is a leading privacy-centric digital currency. For mining crypto at home, Zcash's most important feature is that it employs the Equihash algorithm which is designed to be ASIC resistant. As a result, the home miner with a GPU can participate. It is one of the top 5 cryptos to mine in 2023.
Ravencoin
Ravencoin is based on the Bitcoin code. As such, it was designed for instant and smooth asset transfer between users. However, over time, developers have also added features like messaging, voting, compatibility, etc. It is powered by the KowPow protocol, which makes it ASIC resistant.
Bitcoin Gold
It is a Bitcoin fork, which essentially means it's a spinoff of the world's most popular cryptocurrency. Bitcoin is mined using specialized mining equipment, whereas Bitcoin Gold was designed specifically for mining using regular hardware. It is one of the top 5 cryptos to mine in 2023.
Horizen
Launched in 2017, Horizen and its native cryptocurrency ZEN is a proof-of-work, equihash-based cryptocurrency and is mineable with a GPU. The project aims to ensure data integrity and privacy freedom by enabling real-world use cases within a secure interoperable blockchain ecosystem.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.