Last week (the first week of November 2020 to be exact), the Bitcoin hit its highest price ever, by reaching a rate when one coin was worth over $15,000, which was unexpected since 2020 is difficult for every field in our life. Due to the coronavirus pandemic, the Bitcoin’s value was very low in April and May, affecting all the other currencies, and their rates compared to fiat money. But, no matter what, people will always be interested in cryptocurrencies, and they will try to learn everything that is needed so they can get a few for them.
We all know that we can invest, trade, and exchange in these currencies, but there are also some people who still prefer traditional mining and GPU mining. There are a lot of benefits of owning some crypto money or investing in them, and you can learn more about that on macobserver.com. Also, you need to get to know better all the possibilities you may have on this market, especially the ways you can get the coins. GPU mining is one of the ways you need to consider if you want to avoid investments.
Before we go any further, we will first explain what exactly is GPU mining.
The explanation is that GPU is short for Graphics Processing Unit, and the mining can be done through the usual computer you are using to play games, or usual office work, but the money transfers are confirmed by using computer electronic parts. In this case, that is the graphic card, and the miners should solve the math and cryptography tasks, so they can get paid in digital coins. In the countries where cryptocurrencies are allowed, this type of mining is also legal. But, depending on how it’s used and how long the machine mines through the blockchain, it may damage the GPU in some way.
The good thing is that even in 2020, GPU mining is still a thing, and you can still mine some crypto coins for yourself, using the graphic card as a resource, without having to invest in special and powerful computers, and a huge amount of electricity to power them up.
Another thing you may ask is if there is any cryptocurrency that can be mined through this method, and is it worth it? Here, we have some answers for you:
This is one of the most popular altcoins (crypto coins that are not Bitcoin), and it’s still profitable enough for the miners who are using their graphic unit to find the coins and earn them. Sometimes you may need to use a few cards so you can have a nice saving. The transactions are based on proof-of-work, and all the logs of users’ activities are saved on the network. This is a nice way to earn some crypto coins from home. You only need to sync the unit with the blockchain and start earning Ether coins by solving math problems, to get them as a reward.
Electroneum is not a very popular coin, and one of them is still far from reaching a value equal to $1. But, at the same time, it works similarly to Bitcoin’s blockchain network. The main difference is that you can access it from every device, even from your smartphone. That makes the ETN a great option for those who want to mine from home. Probably, there are only a few people in the world who already heard about it, but it’s pretty popular among online gamblers. The best thing? There is an official ETN app that you can download to start mining.
This is an abbreviation for Anonymous Electronic Online Coin, which is a spin-off of Monero. It’s suitable for the so-called “mining from home”, mostly because it offers a mobile app. People often think that mining is a long process of investing in quality computers and power supply, and that’s true, but for some currencies, it’s not that time, money, and energy-consuming. The process is very simple since you only have to download the app and synchronize it with your device graphic card and start your earning through the crypto network.
ETC is a coin that appeared after the DAO hack, during the time of Ethereum recovering. Today’s known Ethereum (Ether coins) are not the same as the original ones, and a smaller part of the ETH community decided to try to recover the classic network. Probably, they did it, naming the coins Ethereum Classic. Both networks work pretty much the same. You can increase the chances for a better reward if you join a pool mining, instead of doing it by yourself. Again, even though is not a commercial coin, it’s great for the home-miners too.
Monero is another one popular digital currency, and you can earn it by both trading and mining. If you want to mine it by yourself, you need to install the client to your mobile device, laptop, or PC, sync to the graphic unit, and join a pool, because you are improving your performance and increase the chances to earn much more than doing it alone. This currency brings great potential for profit, because it goes really nice, compared to the other less-known currencies, people rarely have heard about.
Many people have the wrong impression that crypto mining, trading, exchanging, and investing is all about Bitcoins, Litecoins, Bitcoin Cash, Ethereum, and other popular currencies. But, knowing the fact that there are more than 6,000 active currencies, we can conclude that there are many more options for us. Some of the currencies we mentioned in this article have a really bright future, and it is worth saving a few of them and waiting for the right time to exchange them for money, or other worthy currencies.
A crypto market is a promising place for all those people who want to take risks and find an alternative way to earn some money. Luckily, we have, and we will have a lot of options in the future, and we will be able to do that completely from our smart devices because even the blockchain will hopefully be optimized for smartphones and tablets, as time goes by.