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Best Cryptocurrency for Mining in 2019

  • Alex Morris
    📚 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.


Best Cryptocurrency for Mining in 2019
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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.

Best Cryptocurrency for Mining in 2019

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.

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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.

(coindesk.com)

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.   

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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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. However, our recent price prediction shows that Litecoin is currently following a bullish path.

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.    

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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Blockchain Developer Salaries. Top Job Offers of Blockchain Companies

  • Eric Croix
    📚 WikiCoin

     

    Are you fascinated by Bitcoin and Ethereum? Would you like to take part in the development of Web 3.0 and the payment systems of the future? Then you may also be wondering how much you will be paid for such work. Tune in to find this out!


Blockchain Developer Salaries. Top Job Offers of Blockchain Companies
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The blockchain sphere was sort of under the radar since the introduction of Bitcoin until finally Ethereum’s ERC20 standard appeared and gave birth to thousands of startups in 2017. The ICO craze led to a notorious crypto bubble, which drove up the demand for quality developers. Innovative technology, low competition, and startling salaries attracted many of the engineers from other spheres to the blockchain space. As they were building new networks and dApps, the infamous crypto burst of 2018 occurred and some of the companies started to rapidly lose the funds they raised.

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After the dust settled, the surviving startups realized that the only competitive advantage they can have in the future is only a real working product. The times when people paid millions of dollars just for a white paper are gone. Hence, to make it through hard times and eventually prosper, crypto companies need experienced engineers even more. In addition, large enterprises like IBM and Google realized the new trend and are now making the competition even tighter. Unlike the freshly appeared startups, these behemoths have plenty of cash in their pockets to pay a premium for good specialists.

Considering that the blockchain sphere is still in its infancy and there is enough room to grow professionally and financially, engineers around the world are still looking into entering the space. There are also people who never touched a terminal but were attracted to the crypto market during the latest bull cycle and want to start their professional paths within the industry. For all of them, it will be useful to know the size of a paycheck to aim for. Therefore, in this article, we will present you with an overview of the job market for blockchain engineers. Let’s get going!

Where to look for a job?

Traditional job listing boards

Traditional aggregators

For our first step, we took the most popular website for job search overall, which is Indeed.com and also a resource that is used by startups to post their listings – AngelList. We also included LinkedIn, as it’s by far the most used social network for professionals. The blockchain-related openings on these resources soared significantly (in some cases more than 4 times) from 2016.

Specialized aggregators

Specialized aggregators

The new industry inspired a new type of job board. Currently, there are several crypto-oriented resources where one is able to find a job in a crypto startup. Among such service providers are Blocktribe, Cryptojobslist, Blockace and a number of others.

Upwork

Upwork logo

For people, who are familiar with working remotely, Upwork is the go-to resource to find clientele. This is the most popular freelance website in the world and the paychecks there can be astonishing.

Company websites

IBM/VISA/Google logos

Some of the job postings for large (and some small) companies never leave company websites. Recruiters may be in a passive mode of searching for some positions, so it’s always useful to double check the ‘career’ section on websites.

How big of a paycheck to expect

Blockchain developers make 10 to 20% more than their non-blockchain peers. This is on par with AI software developers. For instance, if we talk about the most prominent place for software companies, Silicon Valley, a blockchain engineer’s salary there may reach $158k USD a year, while a hardware engineer’s salary will only be $135k USD. Switzerland companies in some cases offer even higher salaries that may go up to $180k USD a year, but you have to consider that the taxes and prices there are quite high too.

Median salaries

If we review the market as a whole, the average salary for software engineers specializing in blockchain is $114k USD. The range of salaries goes between $50k and $134k USD a year for a full-time job. For freelancers, the hourly rates start from $15 and continue up to $300 USD.

As we discussed in our article about the most popular languages in blockchain development, there are new ones like Solidity and Simplicity that are just starting to get traction. Enterprises with their products are also more inclined to pay higher amounts of money to those, who already have narrow specialization, such as Hyperledger composers.

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Enterprises vs startups

It’s important to distinguish between young companies and well-developed enterprises. Startups are looking to recruit the best professionals out there as they influence the company’s image. People heading there will receive more responsibility, freedom of making decisions and room for professional growth. On the flipside, the salary range is in the lower bracket of $50k to $70k USD. However, in the long run, financial rewards can be much higher for some devs, as they may be offered equity in the company or certain allocation of tokens that have a chance to skyrocket.

Startup vs Enterprise

For those, who are looking for more secure positions, enterprises represent a better choice. Starting salaries for junior developers can be from $70k to $80k USD and senior devs usually start getting from $100k to $120k USD. The drawbacks could include a limited set of tasks, the need to report more to seniors and not so many promotion prospects. In addition, enterprises will be able to provide better social compensation and benefits.

Top offers

  • Senior Managing Consultant at IBM ($122k-$179k USD/year)

IBM is one of the leaders in software development with a great legacy of hardware development. With Hyperledger and Sawtooth, IBM strives to capture a significant share of the developing blockchain market. The position they offer pays well and requires an appropriate level of experience, at least 5 years of programming and half a year in blockchain development.

  • Blockchain SI Partner Development Manager at Microsoft ($109k-$172k USD/year)

Considering the size of Microsoft and their involvement in cloud and blockchain solutions based on their Azure platform, there is no wonder that it makes it to the top of our list. Except for advanced programming skills and knowledge of the proprietary software, this job will require the perfect candidate to have a background in business communication and management experience.

  • Blockchain Engineer at Visa ($110-$140k USD/year)

Visa, like any global payment system, feels the competition from cryptocurrencies the most and tries to get the best talent to evolve quickly. A developer joining this company should consider making an emphasis on Java and Golang, as Visa requires two-year experience with these languages. Expertise in other spheres of software development will also be a plus along with specialization in scalable products.

  • Blockchain Developer at Blocksmith ($45k-$65k USD/year)

Here we step onto the startup grounds. Blockchain offers outsourcing services related to the blockchain to other startups and enterprises. In their job posing, Blocksmith highlight willingness to learn and share knowledge as the core requirements. Unlike enterprises like Visa and IBM, they value personality more than tech expertise. In addition, the person who gets hired will be eligible for equity share after working within the company for more than 6 months.

  • Senior C++ Blockchain Developer at Atlas City ($90k USD/year)

Atlas City is another startup that is focused on helping other businesses to cut costs and boost efficiency. The team looks for a person with decent knowledge of blockchains, which is apparent by the requirement of knowing C++, a language Bitcoin was built with. Among other requirements worth considering is the knowledge of Linux and back-end scripting. The salary for a startup is rather high and there is a neat bonus of being eligible equity.

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The bottom line

To sum up, the blockchain sphere with its incredible volatility and instability is still a technical environment that is set to disrupt our world and transform it completely. Despite rallies and crashes on the market, the business side of blockchain has been rumbling since its inception.

This field is definitely challenging because there are many undiscovered territories, and the infrastructure is not always clear. However, anyone with exceptional ambitions and libertarian views will feel comfortable in the epicenter of the blockchain development buzz. Thankfully, at this point in time, there is no shortage of opportunities, and the level of experience varies greatly from company to company. In some cases, personality comes before knowledge. If you feel uncomfortable working at the office, you will be glad to find out that there are not only many freelance opportunities but also remote offerings from startups and enterprises.

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When it comes to payment, like in any workplace it will depend on a number of variables. First and foremost, you will have to choose between working in a recently initiated startup or an enterprise with a long history of operation. Second, your development experience along with the knowledge of specific languages will play an important role. Third, if you want to get a higher position, be prepared to learn or prove some managerial skills. Finally, your personality and willingness to learn new things in such a fast-paced environment will also be evaluated by hiring parties. In any case, you can safely consider that your payroll will be a little bit higher than the average for developers in other fields. After all, the demand for the workforce in the blockchain is high and the supply is low – it’s time to ride this wave!

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