Best Bitcoin Mining Alternatives | Profitable Altcoin Mining | 2020 Edition
Mining Bitcoins are getting harder as days are passing by no matter how popular they are. In today’s time, there are many professional miners have high defined hardware for mining Bitcoins. However, on the other hand, our own household computers also do not have the capacity to compete with these professional miners. Each day Bitcoins mining entry barrier gets higher and higher as the Bitcoin mining pool availability shrinking.
In our last article, we discussed Best ASIC Bitcoin Mining Software For Windows And Linux. Mining process of Bitcoin is profitable to a user, only if:
- The user lives in a country such as China since, as the electricity charges are comparatively low.
- If the user can produce free electricity with solar panels.
In addition to the free electricity, the user must also have a high power Bitcoin mining hardware, in order to make a huge profit. If you fail to meet these conditions, you may opt for Bitcoin cloud mining. There are websites in the market providing cloud mining contracts for Bitcoin, Litecoin, Dash, Zcash etc.
Note: Before making any choice for cloud mining read our article on the Trusted Cloud Mining Providers as many of the cloud mining websites nowadays are a scam.
Let us get into the top 10 Bitcoin mining alternatives for profitable coin mining other than Bitcoins.
Bitcoin Mining Alternatives – Profitable AltCoin Mining
This is an exposed area as well as a privacy-oriented digital currency where you can go through an immediate transaction. This can be easily associated with cash where all your finance is private as well as you don’t need any wallet for the transaction. Secondly, you have an advantage where no one can track you. The charges are very less and even sometimes free of cost. The payment process is very safe and secured as it is a 2 tier network. On the other hand, the transaction does not take much of time and money can be sent anywhere anytime.
This decentralized system securing and featuring smart contact within the system. Mining success depends on many, unlike factors. In order to find out cloud mining success calculators were conceived. They take into explaining different limits such as the cost of hardware, electricity cost and other network related stuff. Profit of individual depends on network trouble, block prize, transactions quantity, and payment. Many people do not know how to use these calculators, so therefore regularly articles are posted related to it.
Steem is a social media platform where every individual can earn a prize for their contribution. The progression of voting is as simple as liking a post on Facebook. The prize is given includes for posting, liking a post, saving and commenting. For every voting, the Steem blockchain pays out the exact amount. Each and every reward is dispersed exactly the way miners are a pain by Bitcoin. Steem can be exchanged with Poloniex, Openledger, Bittrex and Shapeshift.
This is peer-to-peer internet currency. This permits every individual to purchase with zero cost payment. No central power to control therefore it’s a decentralized platform for payment network worldwide. It is recorded as the fastest network work payment transaction. It has a wide range of support for all kind of industry, traders, and fluidity. This is considered to be open source software which might help you to run with power, adapt and copy the system including dispersal.
Related Posts: Best Litecoin Wallets
We can say that this is the most secure crypto coin at the minimal cost price. It is a truly amazing alternative coin. It not only itself there but also reward all user for strengthening their network. In return, the users are paid 1% PPC in return after using the network. To secure its site it introduced Proof of Stake. The mining process is done to mete out the new coins. It should be taken to note that self-mining does not in any way cause any impact on its security.
This is also known as new one source system. This is an improved decentralized, confidentiality and safety section of the internet setup. To make the web more restriction it has introduced free speech right protection. It is well known to be the first to implement fused mining.
This is an innovational Cryptocurrency. It is a form of digital currency where the currencies are secured by cryptography and then passed on to a mining market which is not controlled by any centralized power. One must remember that it not only protects the system but also forms a chain system in prime number for mathematical research. Therefore it’s a multi-use network. This chain which has prime number consist of two names; Cunningham chains and bi-twin chains
Feathercoin is one of the influential foundations of digital currency. It is highly updated version and based on modified piece of software. Why should one trust Feathercoin? The payment process is very fast and recognized worldwide. They do not charge anything for securing an individual account. Therefore it means you can spend less use more! They even reward their users with 80 coins for every block. Isn’t that cool?
Hope this article on Bitcoin Mining Alternatives – Profitable AltCoin Mining will be useful for our readers. Please share your feedback and experience with us in the comment section below.