Mining is one of the most popular ways to make money in the crypto world. However, if you are starting out in this world and want to start with profit, then you should probably begin with our “Most Profitable CPU Mining Coin 2024.”
To give you an overview, Cryptocurrency mining is the process of validating transactions on a blockchain grid by using the power of computation. Miners then contribute their computer resources to solve the mathematical problems. And if the owners successfully solve the problem, then they are rewarded with a specific amount of cryptocurrency.
And there are a vast number of cryptocurrencies available, which can make it tough to choose the most profitable one.
Therefore, let’s begin our guide by understanding the various methods of cryptocurrency and finding the most profitable coin to mine on CPU.
What Are The Three Categories Of Crypto Mining?
Crypto mining can be divided into 3 categories based on what hardware is being used. Here are 3 categories of crypto mining:
1. CPU Mining
CPU or central pressing unit is the oldest and most outdated type of crypto mining hardware. It is very easy to start and a great way to earn passive income.
However, it is extremely slow and not efficient. It also involves big risks from unsafe temperatures and is vulnerable to bot networks. Moreover, it also can’t mine most of the cryptocurrencies because of the competitive hash rate.
2. ASIC Mining
ASIC stands for Application Specific-Integrated Circuit Mining. It is the least-known and most efficient form of crypto mining.
These are 100,000 times more efficient and have a higher hash rate than CPU or GPU. Unlike CPU or GPU, they are designed for a single purpose, that is mining or solving complex math problems to validate the blockchain.
The average cost of ASIC hardware ranges anywhere between $300-$500 so it is also not expensive.
3. GPU Mining
GPU stands for graphics processing units. It is the same graphics video card that we use for watching movies or playing games on the computer.
To tell you the truth, GPU isn’t as effective as ASIC and is comparatively more expensive. However, it gives flexibility to miners, allowing them to mine different coins using the same hardware device.
Is CPU Mining Profitable?
As the crypto industry is growing, the rise in the overall difficulty and competition on the networks is also growing. This makes the use of CPU in mining less effective especially mining the highly graded coins like bitcoin and etherum.
Moreover, the profitability of CPU mining depends on projects and CPU composition. Therefore, the less competitive a crypto project is, the more profitable CPU mining gets. Also, the higher the configuration of your CPU, the better its effectiveness in mining.
What Coins Can Be Mined On CPU?
How To Find Profitable Coins For CPU Mining?
To find the profitable coins to mine on the CPU, you can follow the following steps:
1. First, check for the difficulty level of the network and the hash rate of the coin. The difficulty level will help you determine how difficult it will be to solve the block and one the coin. The higher the difficulty of the block, the less profitable the coin is to mine.
2. Secondly, check for the coin’s current price and network block reward. The higher the reward for solving the problem, the more profitable it is to mine.
3. Some coins are specifically designed only to be mined by GPU or other specialized hardware. So, check for the network’s mining algorithm and see if it is possible to mine with a CPU or not.
4. Lastly, check for the energy consumption of mining the coin and compare it with the revenue you’ll be making.
Best Crypto Mining Coins
|ESTIMATED DAILY PROFITS
|REWARDS PER BLOCK
|$5 – $10 per GPU
|$0.50- $2 per CPU
|$10 – $15 per ASIC
|$1 – $3 per GPU
|$3 – $7 per GPU
|$6 – $10 per ASIC
|CPU & GPU mining
|$1 – $5 combined
|$3 – $7 per ASIC
|$4 – $6 per GPU
|$2 – $4 per GPU
|CPU & GPU mining
|$1 – $3 per CPU/GPU
Most Profitable Cpu Mining Coin
As you saw, there are various coins that you can mine using a CPU, but if we are talking about the most profitable, then we recommend Monero (XMR).
Monero (XMR) is a privacy-focused, open-source cryptocurrency that was launched in April 2014. It is one of the most popular coins to mine because of its security and profitability. You can mine it by using both CPU and GPU.
Monero used the CryptoNote protocol to secure the transaction and hide the identity of its users. In addition to this, it doesn’t have a public ledger of transactions, making it more secure and private.
What Is The Difference Between CPU And GPU?
CPU and GPU are two types of hardware that are used in mining the crypto. Both are critical computing engines and are silicon-based microprocessors. However, they both are built for different purposes and have different architectures.
CPU stands for Central Processing Unit and, therefore, uses the computer’s central processing unit to validate the transactions on the blockchain. It gets things down quickly by focusing on the smaller number of cores on individual tasks.
GPU, on the other hand, stands for graphics processing unit. It can perform many calculations simultaneously and is more effective than CPU mining.
Therefore, GPU mining is more profitable for mining most cryptocurrencies, but there are also some less demanding coins that can be profitability mined on a CPU.
Why Can’t A Bitcoin Be Mined Using CPU?
Through these years, Bitcoin has evolved, and as more miners are joining, the difficulty for miners is also rising. This has resulted in making it unprofitable for miners to mine using the CPU.
This is simply because mining Bitcoin requires a large amount of computational power and energy to solve mathematical problems, which is no longer possible to perform on a CPU.
What Are Software Required For CPU Mining?
There are many software available in the market. However, choosing the best software for crypto mining depends on the operating system you use and the cryptocurrency you want to mine.
Here are a few software you can use for CPU mining:
- Mining Pool Hub
- A CPU Miner by Wolf0
These are some names of the software you can use; however, before choosing, you should do your research and compare the different options and their compatibility with your setup.
It is true that mining using a central processing unit is not as effective and profitable now. But there are a few less competitive and profitable coins that you can still mine using a CPU.
We hope this article has helped you find the most profitable CPU mining coin 2024. However, when choosing the coin, remember to do your own research- get familiar with the crypto world, like its marketplace Nicehash, and check whether it is compatible with your setup first.
How many GPUs do I need for mining?
If you are starting, then using one GPU is a wise decision. But the more GPUs you use, the better your mining power will be. Typically, using 6-8 GPUs for a dedicated mining rig is a common practice.
Which cryptocurrency is the easiest to mine?
Monero, Dogecoin, and Litecoin are some of the easiest cryptos to mine.
Can I mine crypto through my phone?
Yes, however, in most cases, it is not practical to mine crypto from your phone, and it is also not profitable.
Is CPU faster than GPU?
No, the CPU is not faster than GPU. CPUs are versatile and can be used for handling multiple tasks. However, when it comes to the speed, it is very slow.