There are at least two reasons why crypto mining is necessary. First, it is used to generate new coins. Second, it is used to validate transactions on the blockchain. This validation is important to avoid duplicate transactions.
Why is crypto mining most in-demand for investors?
Miners participate in crypto mining to help secure blockchain and facilitate transactions. In doing so, they are rewarded with new coins. These newly minted coins are their payment for investing in expensive equipment that makes crypto mining possible.
Best crypto for mining
Below are some of the best crypto coins to mine in 2022. While you can start mining with an existing CPU, you might need to invest in GPU to get a good chance of generating coin rewards. Before you start investing in equipment, make sure to do thorough research on which coins and what approaches you will take to become successful.
What is Litecoin (LTC)?
As peer-to-peer crypto, Litecoin is an open-source crypto project. It is similar to Bitcoin in terms of the authentication method and the blockchain technology used. However, key aspects are making LTC different from Bitcoin. Mining LTC is never a bad idea considering the strength of the coin and its large user base.
Because it utilizes the SCRYPT protocol, LTC does not require miners to purchase ASIC chips. With a GPU, you can start mining LTC in no time. Plus, LTC is not so volatile compared to other altcoins. This will make the transfer and conversion of LTC to other cryptos easy and possible with several platforms. Offering high processing speed and low gas fees, LTC is a good coin to own.
LTC price prediction 2025
Some major fundamental and political changes may affect the market like other altcoins. However, LTC is widely regarded as strong crypto that is able to consistently deliver performance. Experts expect LTC to fluctuate between a minimum price of $390 and a high price of $500 in 2025. At this point, Litecoin seems poised to register a new all-time high ($500), but this may happen in 2025.
What is Grin (GRIN)?
As a lightweight application, Grin is designed to use less storage and offers better scalability than other coins of its kind. You can mine the Grin coin with minimal investments. The reason for this is because this crypto makes use of the Cuckoo mining cycle, which is known as ASIC-resistant. One feature that makes this coin attractive to users is privacy. The Grin blockchain does not permit transaction details to be left on the network, protecting your personal information in the process.
GRIN price prediction 2025
PricePrediction.net and WalletInvestor suggest that GRIN will maintain a bullish momentum at least toward 2025. TradingBeast expects the coin to hit about $0.4 by the end of 2025. One reason for the positive forecast is GRIN’s scalability. Another is the effort made by the developer team to make the coin like a real currency.
What is Bitcoin Gold (BTG)?
BTG is one of the digital coins out there that are suitable for GPU mining. In addition to preventing ASIC miners, BTG does not require a large investment compared to other altcoins. The main goal of BTG is to make mining less risky for miners. BTG developers achieve this goal by allowing users to redirect the hash power of their computers to other coins. This is an option if BTG price experiences a sell-off.
BTG price prediction 2025
Market analysts think that BTG could reach $50 toward the end of 2022 and $75 somewhere in 2025. Two years later (i.e., 2027), they predict this coin to reach the $100 mark. This will happen if the coin finds a bottom in the current bear market and makes a decisive bull run.
What is Dogecoin (DOGE)?
As a meme coin carrying the symbol of a dog, Dogecoin was initially made just for fun. However, at this point, the coin has already been ahead of the pack in terms of growth. It has made history and is not showing any signs of letting up. Keep in mind that Dogecoin is full-fledged crypto. It can store value, and you can use it to conduct crypto transactions. Dogecoin was only $0.00026 in December 2020, but it climbed to $0.74 on 8 May 2021. With a market cap of $20.18 million, Dogecoin now occupies the 12th rank by this yardstick.
DOGE price prediction 2025
Based on technical analysis, the DOGE coin might play around a high of $0.58 and a low of $0.49. This will happen if the price manages to break and close above the $0.35 ceiling. As you can see in the chart above, the market is still in bearish territory. It requires a change of market structure from bearish to bullish before the above prediction will come to fruition.
What is Dash (DASH)?
The name of the crypto Dash is a fusion of the words “digital” and “cash.” Dash developers did not come up with this name straight away. They released the coin as Xcoin in January 2014. Just a few days later, they altered the name to Darkcoin. Finally, in March 2015, they adopted the term Dash, and this is the name being used to this day. Dash is an open-source project that is designed to allow users to transfer their money in various places. Its main goal is to facilitate secure and fast money transfer across the globe through its partners InstaSend and PrivateSend.
DASH price prediction 2025
In the near term, hopefully, DASH will break the bearish market structure and manage to go and stay above the 200 and 400 moving averages. At the time of this writing, DASH stands at a price of $116.3. Some experts think DASH will reach the $200 mark in 2024 and $250 somewhere in 2025. It can go higher to $300 somewhere in 2026.
Mining can be a rewarding activity if you find coins that generate results. Of course, you will need to invest in powerful equipment to run mining rigs and compete with other miners. Because mining could significantly raise your electricity bill, you have to make a frequent assessment if your activity is producing a net income. The key here is finding those coins worth your time and investment.