Most Profitable Mining In Cryptocurrency [Infographic]

Olivia Smith https://tradersofcrypto.com 1m 333

The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.

Most Profitable Crypto: Mining Ethereum will net an estimated $52.02 daily

A new study can today reveal the most profitable cryptocurrencies to mine: Ethereum is at the top of the list with a daily profit of £41.93 ($52.02)!

Experts at Traders of Crypto have delved into the data to find out how much profit you could make by setting up your very own mining rig and which currencies miners are losing the most on.

The most profitable cryptocurrencies:

Rank	Cryptocurrency	Daily Profit ($)	Daily Profit (£)	Mining Revenue	Electricity Costs	Mining Fees	Coins mined per day
1	Ethereum	$52.02	£41.93	£48.76	£5.57	£1.27	0.02976856
2	Verge	$13.97	£11.26	£27.89	£15.90	£0.73	6,819.23
3	Dogecoin	$12.86	£10.36	£26.97	£15.90	£0.70	377.3410973

1. Ethereum: Daily profit: £41.93 | $52.02

Ether is the native token on the Ethereum blockchain making it one of the most valuable cryptocurrencies. Mining this coin will net an estimated £41.93 ($52.02) daily. However, Ethereum will soon shift to a proof-of-stake protocol making mining obsolete.

2. Verge: Daily profit: £11.26 | $13.97

Originally named DogeCoinDark, Mining Verge will net an estimated £11.26 ($13.97) a day, taking it to second place.

3. Dogecoin: Daily profit: £10.36 | $12.86

Miners looking to turn a profit with Dogecoin, the first meme coin, can expect estimated daily returns of £10.36 ($12.86).

The least profitable cryptocurrencies:

Rank	Cryptocurrency	Daily Profit ($)	Daily Profit (£)	Mining Revenue	Electricity Costs	Mining Fees	Coins mined per day
1	Dash	$0.18	£0.15	£0.86	£0.69	£0.02	0.01799304
2	Peercoin	$1.15	£0.93	£15.30	£13.98	£0.39	59.83700569
3	Ethereum-Classic	$3.14	£2.53	£6.17	£3.48	£0.16	0.36259707

The study also looked at the least profitable cryptocurrencies to mine.

1. Dash: Daily profit: £0.15 | $0.18

Dash is the cryptocurrency generating the smallest profit, netting miners just £0.15 ($0.18) a day.

2. Peercoin: Daily profit: £0.93 | $1.15

Peercoin, the first coin to combine proof-of-work and proof-of-stake algorithms, only has a daily profit of £0.93 ($1.15).

3. Ethereum-Classic: Daily profit: £2.53 | $3.14

Formed after Ethereum’s DAO was hacked, Ethereum-Classic serves to preserve the original Ethereum code, meaning it cannot be updated. It’s daily profit is the third lowest on our list.

Further findings:

The coin losing miners the most money is Viacoin. Despite its conveniently quick transaction times (24 seconds per transaction), Viacoin’s daily loss is of £15.89 ($19.73).
Ethereum is the coin with the highest mining fees (£1.26), however it is also the coin with the highest mining revenue (£48.74)!

This is the link to the full research: https://tradersofcrypto.com/guides/crypto-mining-returns/

(

Read Another Confession: How to Use Digital Learning Platforms for IIT JEE Preparation [Infographic]