Year 2022 has been a little too hard on cryptocurrencies, with trillions being wiped from the market and Bitcoin, the king of cryptocurrencies, seeing a decrease in its value. Well, every storm cloud has its silver lining, there are some coins out there with big potential to increase their value after the market recovers.
People can generate a passive income while going about their daily lives by mining cryptocurrencies. Hi and welcome back to ‘The Proficiency Post’, today we are going to discuss about the:
Best Cryptos to Mine 2022
Litecoin and Dogecoin: A Google employee named Charlie Lee created Litecoin in 2011. It was a fork of Bitcoin, although there were several differences. Lee sought to build a network comparable to that but focused on quick payments. Because of this, Litecoin’s block generation time is four times faster. It takes only 2.5 minutes per block as opposed to 10 minutes. It is still among the top cryptocurrencies in terms of value and trading volume, and it is mineable.
The Litecoin network uses a new consensus algorithm called “scrypt,” which is less resource intensive. Additionally, the maximum supply cap was increased to 84 million coins because it was designed to be an inexpensive cryptocurrency.
As for Dogecoin, it was created as something of a joke. It is based on the popular Shiba Inu dog meme, but it gained traction and its price went up. It uses the same proof of work technology as Litecoin.
A great miner to mine both Litecoin and Dogecoin at the same time is the Goldshell LT Lite, which makes around $5/ day, which is a decent amount, plus Elon Musk is an apparent fan of Dogecoin, and its value will go up. Litecoin and Dogecoin are one of the best cryptos to mine in 2022.
Bringing together both public applications and private blockchain is the goal of the blockchain network and smart contract token Kadena. The coin fixes a number of issues that hinder the widespread use of blockchain technology. With the help of the protocol, companies and programmers can transact and share data across numerous networks.
To improve user experience on the network, the Coin is truly on the grid. Due to the network congestion that Ethereum users frequently experience, gas costs are high. Well, this coin is definitely looking to solve a big problem, and if it succeeds, then you can bet its price is going to go up.
A good miner for Kadena is the Goldshell KD Lite making $14/ day at current prices, if it’s out of your budget, there is a more economic one: the Goldshell KD Box Pro, currently making $2 a day, not too shabby now. Let’s not forget that the founders of this project worked at JP Morgan.
We all know Bitcoin as the king of cryptocurrencies, the only coin to reach an all-time high of 69,000 dollars. But there is much more to the currency than just the high price. It is a disrupting technology that could revolutionize the world as we know it.
Due to the decentralized nature of money, transactions can be carried out instantly and freely across the globe. The decentralization of cryptocurrencies as valuable in the eyes of Bitcoin miners. Right now, its price may have dropped but always remember that there are cycles, and every time Bitcoin has returned much stronger.
One option to mine Bitcoin is with the Antminer S19 pro 110 (Th); it makes around $10/ day with the current prices, you should not forget that the ROI should be calculated based on the price at where you are planning to cash out, if this is the case. It is not as high as the Goldshell KD Lite, but it is a secure bet.
Nervos So, the blockchain ecosystem known as Nervos Network is open-source and accessible. By resolving Bitcoin and Ethereum’s problems, its developers hope to assist cryptocurrency consumers. By storing other cryptocurrencies on the network blockchain, they seek to achieve effective scalability and increase the value of their own coin.
The project is censorship-resistant, will support layer two scaling and smart contract execution, and will also allow for both. Nervos uses the so called Eaglesong algorithm. A great way to mine this coin is with the Goldlshell CK6. It makes $8/ day, which is quite a nifty amount. This project has a really strong team behind, one of the devs helped develop the Ethereum blockchain.
Everyone knows about Ethereum. It is the second most profitable cryptocurrency after Bitcoin, but like the rest, it too has recently suffered a decrease in its price. Well, now another version is coming out named Ethereum 2.0. The proof of work paradigm, in which cryptocurrency miners employ powerful computers to accomplish intricate mathematical operations known as hashes, will be replaced with Ethereum 2.0’s staking mechanism.
While this will reduce power consumption, the problem with this is that it will make Ethereum miners redundant and will make their investments in software and hardware a waste of money. This event is being touted as the Merge, nobody knows when this is going to happen, some people is expecting to happen by the end of this summer, so you should be careful when buying a Ethereum miner.
One great ASIC miner for Ethereum is the Jasminer X4-1U, it makes approx $9/day, while average miners are only able to make around $2-3.
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