Best Alternatives to Bitcoin Mining

According to the Whattomine.com the highest profits could be acquired from mining the following cryptocurrencies:

  1. Zclassic(ZCL) – with current profitability of 177 percent and a 7-day profitability of 260 percent
  2. Zcash (ZEC) – with current profitability of 179 percent and a 7-day profitability of 131 percent
  3. Nicehash-Equihash – with current profitability of 150 percent and a 7-day profitability of 115 percent

Ethereum and Decred are also profitable cryptocurrencies at the moment. Mining Ethereum could turn out to be very profitable, as its starting to gain momentum and its likely to increase in value during the next couple of months. You can always use Whattomine.com or Coinwarz.com to calculate the profitability of your mining operations.

Keep in mind that there is more than one way to profit from cryptocurrency mining. You can immediately sell the coins you mine and earn some extra cash, or you can keep them in anticipation of a future increase in value. All of the major digital currencies have growth tendencies, in the long run, so keeping the coins could bring high profits at some point.

Before starting a mining operation, always do some research. Some coins might seem like a profitable investment, but if the coins don’t have a set of useful features and a strong community of developers that would allow its market cap to grow – it may be better to keep looking.

In order to understand which coins are profitable, you can find website indexes such as CoinChoose. Indexes give you a complete breakdown of each altcoin. On CoinChoose you can see a coin’s difficulties, where can you exchange them and what the chances are of profiting in Bitcoins by mining each of those altcoins.

Finally, cryptocurrency mining is a bit risky and it often turns out unprofitable for the miners. Be careful and try not to rush into mining a coin just because the coin currently profitable. Do your research, as the cryptocurrency market is volatile and the mining could end up costing you money.

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