Popular Cryptocurrency for Mining in 2019 - Updated

  • Alex Dovbnya
    📚 WikiCoin

    Currently, cryptocurrency mining is all about long-term investing. Find out what cryptocurrency you should invest in to generate a big return on your investment. U.Today has examined all the possible options, including little-known coins that are suitable for CPU mining. Given how unpredictable the cryptocurrency market is, we won’t rule out that one of these coins could become the next Bitcoin.


Popular Cryptocurrency for Mining in 2019 - Updated

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

The double-whammy of sinking prices and constantly rising mining difficulty was a complete knockout for Bitcoin miners. U.Today determines whether you should stick to Bitcoin mining in 2019, and what other altcoins could be a good option the following year.

Picking a new currency to mine

Due to the decline of cryptocurrency mining, it is rather challenging to find a new coin to mine given that cryptocurrency price predictions change almost every day. If you want to pick a new currency, you should perform an in-depth fundamental analysis (the technology behind the coin, the team of developers, etc.). We’ve compiled the list of top factors you have to take into account when mining new coins:

  • mining difficulty;

  • recent price fluctuations;

  • price predictions;

  • market capitalization;  

  • the number of use cases;

  • the developers’ background;

  • social media presence.

Meanwhile, these are some of the ‘red flags’ that you most likely want to avoid when choosing a new coin:

  • the coin has an ICO;

  • the project is selling masternodes;

  • premined coins;

  • ‘copy and paste’ coins in the likes of Ravecoin that do not bring anything new to the table.   

Making sure the mining is profitable

Once you’ve picked the coin that suits all the above-mentioned parameters, you have to make sure that running your mining operation will result in generating a profit (a rather challenging thing to do considering the current state of cryptocurrency mining). There are numerous factors that you have to take into account, such as electricity expenses, mining difficulty, etc. We won’t enumerate all these points since there are plenty of complex mining calculators.

Making sure the mining is profitable

Another important point you should keep in mind is that these parameters are constantly fluctuating, which essentially makes the mining industry so unpredictable. Case in point: mining giant Bitmain, which recently sacked half of its employees after tons of hype surrounding its upcoming IPO that is already shaping up to be a big underperformance.

The O.G. currencies in 2019

Let’s start with an ultimate O.G. currency – Bitcoin, which turned into a multibillion-dollar business. This December, the mining difficulty of the king BTC experienced a 15 percent decline due to smaller miners leaving the Bitcoin Blockchain en masse after major experts failed with their predictions. In the middle of the crypto rout, Bitcoin miners still managed to rake in an impressive $4.7 bln, but the point is that large mining farms are primarily responsible while run-of-the-mill miners remain on the sidelines.

The exodus of miners that was followed by a difficulty drop makes it much easier for new miners to enter the market. Moreover, it has been recently estimated that mining Bitcoin is still 50 more profitable than mining one of its iterations – Craig Wright’s ‘mining-friendly’ Bitcoin SV.

The same pertains to another major currency – Ethereum, which has been facing bearish predictions the whole 2018. Miners who can benefit from low electricity prices still remain in business in the yo-yo market as the mining difficulty continues to drop. Since Ethereum is way too established, you might also opt for Ethereum Classic, whose mining difficulty has been tanking as of recently.   

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What Is Hashrate and Mining Difficulty?

On a positive note, Bitcoin miners managed to earn $305 mln in April due to an unexpected price rally (that’s a 30 percent increase compared to the previous month). Notably, Bitcoin transaction fees also spiked by a whopping 250 percent in April, adding $14 mln to the miners’ pockets.   

As reported by U.Today, China is currently considering banning Bitcoin mining due to its environmental impact. Even though such a U-turn is still improbable, China pulling the plug on the local mining industry could be a real game-changer for Bitcoin since it would push one-third of miners out of the market.   

Monero and ZCash: top privacy coins

Monero is currently the 13th biggest currency by market capitalization. The flagship privacy coin is particularly attractive for miners given its ASIC-resistance. That essentially means that you could mine Monero without buying expensive hardware, thus disrupting Bitmain’s monopoly, which could be already facing serious woes according to expert predictions. Bitmain came up with a special miner for Monero, but the dev team throttled it with a fork that could make ASIC mining inefficient.    

Of course, the coin’s mining profitability tanked due to the crypto rout, but cheap GPU prices combined with low electricity still make a good combination for mining Monero in 2019. However, do not expect to gain profit from selling XRM on a daily basis despite some positive price predictions.  

Alternatively, you can also consider mining another privacy coin – ZCash, which is responsible for more than 90 percent of all Equihash mining, though the recent rate spike was a blank swan situation for miners who were up to different predictions. Back in July, ZCash made headlines because of its remarkable mining profitability: it outperformed Bitcoin by 400 percent.

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Top Cryptocurrencies by Mining Revenue in 2019: Bitcoin (BTC), Ethereum (ETH), Zcash (ZEC), Litecoin (LTC), and Bitcoin Cash (BCH)

Top Cryptocurrencies by Mining Revenue in 2019: Bitcoin (BTC), Ethereum (ETH), Zcash (ZEC), Litecoin (LTC), and Bitcoin Cash (BCH)
     

On Apr. 24, the hashrate of Zcash reached its all-time peak of 4 GigaHash/s, which marked a 42 percent increase since the beginning of 2019. The surging hashrate obviously took a toll on the coin’s mining profitability. Nonetheless, miners will keep tabs on this coin due to the forthcoming halving that will take place in 2020.

Grin is yet another PoW-based coin that should be considered for CPU mining. Its developers have also opted for ASIC resistance, which will be achieved with the help of a hard fork that will be released every six months.  

Horizen (ZEN)

According to whattomine.com, Horizen (previously known as ZenCash before the rebrand happened) remains the Equihash-based currency with the highest level of rewards. In 2019, it is still one of the best currencies to mine with your GPU.    

Keep in mind that Horizen is still in its early PoW days, and they have already paid out 5.3 mln coins to miners. It would be ludicrous to expect sizeable mining profits in the current bearish market, but the project might pick up some steam in the future despite some gloomy price predictions.  

Litecoin (LTC)

Litecoin is yet another old-timer on the block that has been around since 2011. It poses a good option for those who want to opt for an already established currency instead of buying coins with little to no background.     

LTC stands out because of faster transaction confirmations (the block generation time is restricted to ten minutes), and a more efficient storage solution.  

A quick look at r/litecoinmining will tell you that the community is in low spirits right now, with some mining for the sake of heating the house or simply keeping their hobby. Our recent price prediction shows that Litecoin is currently following a bullish path after witnessing solid price gains in April. Moreover, the Litecon halving, which is slated for Aug. 6, is expected to a major catalyst for the coin’s growth.

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Bitcoin Gold (BTG)

Bitcoin Gold is a fork of Bitcoin that was created specifically for GPU mining. Apart from disrupting the hegemony created by super-powerful ASIC miners, Bitcoin Gold is also a marginally safer coin since miners do not have to rely on the hardware that is specifically designed to mine this coin. Hence, BTG miners won’t have to throw away their Antminer if their cryptocurrency lives up to most pessimistic price predictions since they can easily put their botnet on something else.

How to maximize your mining profits?

We’ve listed some of the most conventional (and fairly unconventional) choices, but it’s rather challenging to boil down your choice to one specific coin when there are more than 2,000 options on the table. Hence, it would make sense to mine several coins simultaneously (up to all major mineable currencies) to hedge against potential losses. It is not a piece of investment advice, but swapping currencies is an objectively good option in the highly volatile market where price predictions tend to change very quickly.

Is Cryptocurrency Mining Profitable In 2019?

Best coins for CPU mining

Yes, you heard it right – CPU mining is still a thing in 2019 (just like in Bitcoin’s early days when even the boldest price predictions couldn’t foresee its present-day price). Of course, do not expect to make a single dollar (or even a single cent) with your old laptop. However, for the sake of collecting coins whose price could skyrocket one day, you can consider mining the following CPU-oriented cryptocurrencies:

  • Nimiq;

  • Nerva;

  • Pascal;

  • Uplexa;

  • Blur.

You can constantly keep track of new GPU coins with the help of the website newcpucoins.com. One of the best strategies that you can pick is to mine a coin that is basically worth nothing after doing in-depth research of the project and the team. The cryptocurrency market is still very nascent, and there’s a good chance that the value of a new coin could blow up in the future (just make sure not to sell them prematurely).
  

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Should you mine crypto in 2019?

Over the past few years, cryptocurrency mining has turned into an industrial-level venture, which means that the days when somebody could make quick dollars with crypto mining are pretty much over despite some predictions about the comeback of mining craze. In the first half of 2018, cryptocurrency prices began to fall, and many miners were forced out of business.

With the right approach, mining can still be profitable, but it’s a not a get-rich-quick scheme anymore, and the profitability margin is much lower. Even if most bullish price predictions come true, expect more super powerful ASIC miners to appear on the market.    

After all, you can still mine 1 BTC in Venezuela while only forking out $531 because of its extremely low electricity rates. However, don’t be tempted to pack your bags to this ‘crypto paradise’ given that the local government is not particularly welcoming to miners, with some of them even going to jail. There is also another option: Iran, where mining still turns a profit with the country’s government subsidized energy.  

Hopefully, U.Today helped you to come up with the best mining strategy to survive this crypto winter.

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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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10 Popular Bitcoin Debit Cards in 2019

  • Alex Dovbnya
    📚 WikiCoin

    This old-meets-new innovation is streamlining the mainstream adoption of cryptocurrencies. Learn what Bitcoin debit card you might want to pick in 2019


10 Popular Bitcoin Debit Cards in 2019
Contents

There is a real cryptocurrency conundrum when it comes to Bitcoin adoption given that many people hold Bitcoin without actually spending it. However, Bitcoin debit cards are poised to be a game-changer that will bridge the two rivaling industries to alleviate the task of making crypto payments. Hence, U.Today presents our ten picks for the best Bitcoin debit cards.

Jubiter

Jubiter is an Estonia-based cryptocurrency exchange that also offers a Bitcoin Debit Card program to its customers. They function just like your ordinary Visa card, which makes it possible to spend your crypto in many different ways. This is a big deal since there has been a shortage of cryptocurrency card issuers after the West Crest crackdown that stifled that industry niche.

Jubiter Bitcoin Debit Card
Image by Jubiter 

Their card will set you back €25 (including shipping). Jubiter users will be able to easily convert BTC or LTC into EUR with minimal fees. You can withdraw up to €820 from an ATM while a top-up limit is set at €60,000.  

Estonia is known as one of the most progressive countries when it comes to crypto regulations. Jubiter, which is a fully-licensed company (it obtained both FVR000189 and FRK000158 licenses), complies with these rules. To order a card, one has to pass the KYC procedure by providing the necessary personal information.

Customer support is one more notable advantage of Jubiter. You can either write them a chat message or directly call their office.

Unfortunately for our American readers, Jubiter’s Bitcoin debit cards are only available in the EU.

Wirex

Wirex is a London-based cryptocurrency-oriented company with offices around the globe. The startup, which appeared on the market back in 2014, has a cryptocurrency debit card among its most significant offers.   

The Visa-powered debit card supports multiple major altcoins apart from Bitcoin. On Jan. 10, Wirex also added WAVES to the list of digital assets that can be seamlessly converted to fiat money.

The available fiat currencies include:

  • USD

  • EUR

  • GBP

Wirex is certainly a top-of-mind option for anyone who wants to spend their digital assets anywhere in the world where VISA cards are accepted. Those who complete their identity verification can spend up to $10,000 per day without any additional limits being imposed.

Wirex users have to shell out a 1 percent monthly maintenance fee. The startup is focused on the European market, but Wirex announced its plans about its expansion into the US and Asia in the future.

BitPay

US residents can opt for another established industry player — BitPay. BitPay is one of the most popular cryptocurrency payment providers in the world that now has more than 10,000 merchants onboard (the lion’s share of them come from North America). The company’s debit card is available nationwide, which also gives it an edge over competitors who struggle with regulations in separate states.

After initially starting with BTC, BitPay announced its support for BCH in March 2018. So far, BTC and BCH remain the only cryptocurrencies that can be used for topping up your bank account. Notably, cryptocurrency balances on the BitPay card remain in US dollars, which may serve as a hedging mechanism in the mercurial industry.   

BitPay Visa Debit Card
Image by BitPay

The card costs $9.95 (it takes about a week to be delivered), but keep in mind that there is no maintenance fee and no transaction fee. US residents have to pay a 2 percent commission for ATM withdrawals (3 percent for withdrawing funds outside of the US).

Cryptopay

Just like Wirex, Cryptopay is yet another London-based startup that is designed for European customers. As of now, Cryptopay is also in talks to bring its payment service to Singapore.   

The startup allows you to order a plastic card that will arrive in three to eight weeks or get a virtual card. The latter only costs $2.50 in stark contrast to the $15.00 you will have to fork out in order to buy the plastic card.

Cryptopay Debit Card in Euro
Image by Cryptopay

Cryptopay issues plastic prepaid cards in EUR, GBP, USD, and RUB. It supports four digital assets.

A wider range of available currencies comes at a price. Unlike Bitpay, Cryptopay has a $1 maintenance fee, and the ATM fee is also a tad costlier — $2.50 for domestic transactions and $3.50 for international ones.

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Shift

Shift is a debit card for US customers that was rolled out by San Francisco-based cryptocurrency giant Coinbase to give the exchange’s users the possibility to easily spend Bitcoin. After depositing your Bitcoin, the debit card will be linked to your Coinbase wallet. Hence, the card balance will be denominated in BTC. Shift will record the spot Bitcoin price on the exchange when you make a transaction).

With the Shift Bitcoin debit card, the hefty $20 insurance fee might be disappointing, but it’s only a one-time payment, and Shift eliminates exchange fees and transaction fees. Although, ATM withdrawals are pricey – it offers the same rates as Cryptopay (a flat $2.5 withdrawal fee for US customers and a $3.5 fee for those who want to cash out Bitcoin abroad).   

NB! Keep in mind that the card is not available in all US states (you can check the whole list here).

Revolut Metal (when money is not an issue)  

This is an exclusive offer from the European banking startup Revolut. The elegant metal cryptocurrency debit card with 1 percent cashback will set you back £12.99 per month or £120 per year, but it comes with numerous advantages. However, those who withdraw less than £600 in a month are not supposed to pay any fees.

The state-of-the-art card supports Bitcoin and other five major cryptocurrencies that can be converted into more than 150 fiat currencies. Moreover, as U.Today reported earlier, Revolut customers will get access to such services for free:  

  • Travel insurance

  • Concierge that will make a reservation for you

  • LoungeKey pass

Uquid

Uquid definitely stands out from the pack since it offers more than 75 cryptocurrencies, including Bitcoin and major altcoins.  

It is a pre-loadable credit card that accepts such fiat currencies as EUR, GPD, and USD. Even those who don’t have a bank account can use the card nonetheless.

 Uquid Debit Card in Euro
Image by Uquid

The startup offers you two types of accounts: silver and gold. If you choose the first option, your daily spending limit will be set at $150 worth of cryptocurrencies. In order to increase this limit, you will have to upgrade your account to gold by verifying your identity. The verification procedure requires you to provide the scans of your ID, driving license, proof of residence, etc. With a gold account, you will be able to make unlimited purchases (the same applies to maximum ATM withdrawals).  

NB! Uquid also has its own cryptocurrency called Uquid Coin (UQC) that can be used for paying trading fees, bills, mobile top-ups, etc.     

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SpectroCoin

SpectroCoin is yet another popular debit card that can be denominated in USD and EUR. Just like Uquid, it offers a great variety of digital currencies, so that altcoin lovers do not have to limit themselves to Bitcoin and a few major coins.

The Lithuania-based startup can deliver its physical Bitcoin cards to practically any country, but the shipping will cost you $50.00. However, SpectroCoin offers a virtual card as well for €9.00 with instant delivery.

SpectroCoin Visa Debit Card
Image by SpectroCoin

There is a 3 percent exchange fee that is coupled with a monthly $1.00 service fee. On top of that, there is a flat $2.5 fee if you would like to cash out your Bitcoin.          

It is mandatory for SpectroCoin debit card users to be KYC verified, but you still will not be allowed to deposit more than $250 per day. Only those who obtain the VIP status after submitting their ID and utility bill will increase their withdrawal limits to $5,000.

FuzeX

FuzeX is a cryptocurrency card that can store up to 40 digital assets and exchange with the help of any of 40 mln ATMs around the globe with a real-time exchange rate. It is worth noting that they snubbed Bitcoin and went Bitcoin Cash instead, but they later added Ethereum and their native token. The physical card will be suitable for conducting contactless payments (you simply have to hand your card to the merchant who will process your payment as an ordinary one). 

FuzeX Cryptocurrency Debit Card
Image by FuzeX

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AdvCash

AdvCash is expected to launch its new card program this year after previously being affected by VISA banning WaveCrest, the popular Bitcoin debit card issuer. Their new debit cards will be available in the EU and Russia. They will support three fiat currencies (EUR, USD, and RUB) and numerous cryptocurrencies.

AdvCash Card
Image by AdvCash

The card will set you back $14.99 a pop, but Russian customers are able to get a sizeable discount if they buy two or more cards.

The daily ATH withdrawal limit is set at $3,000 while the total amount of POS transactions cannot exceed $20,000.  

As of now, you can simply create an e-wallet in order to store your funds. There is no maintenance fee, and your withdrawal and deposit fees will depend on a specific means of payment. Topping up their accounts with the help Yandex.Money or QIWI will be the costliest solution.

Bitwala

Bitwala is a relatively new debit card that also boasts support for multiple cryptocurrencies (Bitcoin + more than 40 other options). However, as expected, its flexibility comes with a hardly competitive fee schedule that is similar to that of SpectroCoin. You can order to the card on the official website, but resents beware: Bitwala doesn’t operate in the US. The card can be shipped in only five business days if you are ready to shell out a €69 fee.

Cover image via www.123rf.com
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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