If you’re about to find out the best cryptocurrency to mine with GPU, then you should think about Ethereum or Bitcoin mining. Moreover, you will need a powerful graphics card. If you’re trying your best to start digital mining, make sure you read our guide carefully. Today, we will show you the best tips for GPU mining as well as help you to find out the best cryptocurrency to mine with GPU 2020.
To start with, here is a brief explanation of how mining works. New monetary units of a cryptocurrency are mined by generating from a blockchain using a cryptographic process. Of course, a new block cannot simply be created in this way, otherwise, you would have a problem with inflation. That is, mining requires a certain amount of effort.
In simple terms, miners run a decryption algorithm on their computers to find the right number combination for a new block. In principle, it can be run on any computer but requires very high computing power. And the best way to get one — at least in case with Ethereum cryptocurrency — is to acquire a powerful graphics card.
Which Cryptocurrency to Mine with GPU: Why Use a Graphics Card?
Once we’ve found out which cryptocurrency to mine with GPU, let’s talk about graphics cards. Graphics processors are actually intended for a calculation of complex 3-D graphics in modern games. However, they are also very suitable for Ethereum mining. The reason for this lies in an encryption algorithm that is used with this virtual currency.
Ethereum is a so-called Ethash that is heavily dependent on memory performance (clock frequency, timings, and capacity). Since graphics cards naturally have fast VRAM, they are ideal candidates for Ethereum mining.
However, a lot of people still wonder ‘Is Bitcoin can be considered the best cryptocurrency to mine with my GPU?’. Is BTC mining worth it?
In theory, you can mine the well-known Bitcoin cryptocurrency with powerful hardware. In practice, however, this has become unprofitable because the effort is too high. Instead, Bitcoin mining is operated with special chips, so-called ASICs (Application Specific Integrated Circuits).
Most Profitable Cryptocurrency to Mine with GPU: Is ETH a Right Choice?
Before you get involved in Ethereum mining, you should know what this crypto is all about as well as why it’s considered an ideal choice of cryptocurrency to mine with GPU. Here is some information about ETH.
ETH has been second place after Bitcoin in terms of market cap for years. Ethereum rate has changed significantly so far but is still not getting close to Bitcoin. Ethereum is a platform for the development of decentralized apps and smart contracts.
On the basis of Ethereum, you can develop your own projects in areas of online trading, finance, administration, etc., including new blockchains. ETH is a cryptocurrency that is used on the platform for various services. Ethereum creates a block every 12 seconds. This increases the chances of being one of the few who find the right hash. Bitcoin, on the other hand, has a block time of 10 minutes.
So, what cryptocurrency to mine with GPU? Is Ethereum a right choice?
A graphics card is hardware which Ethereum is best mined with. It’s the most important part of equipment that does most of the work. With Bitcoin, however, only an ASIC chip is used. ETH was programmed to be ASIC-resistant on purpose. This means that no ETH can be mined with a faster and more effective ASIC.
Developers of Ethereum want to counteract centralizing tendencies. Bitcoin shows that very few can afford the ASICs. Actually, only large companies with their server farms can mine Bitcoin. In case with ETH, it’s still possible to mine the crypto with an expensive, but a commercially available graphics card.
Top Cryptocurrency to Mine with GPU: Is ETH Graphics Card a Must?
Once we’ve found out the most efficient cryptocurrency to mine with GPU, let’s find an answer on another important question. Is it possible to mine ETH without using an Ethereum graphics card? Theoretically yes, practically no.
CPUs lack a hash rate to successfully find a hash. If you really want to try mining, you can use special Ethereum GPUs. ASICs, however, are simply not available. ETH was specifically programmed in such a way that it cannot be mined with ASICs.
If you only want to own ETH, then you should think about getting this top cryptocurrency to mine with GPU. ETH trading is another way to make money with the cryptocurrency. There are no hardware costs when trading, apart from internet-enabled devices that most people already have. Ethereum trading can look like buying and holding the coins for a while, then selling them later at a high price.
What other cryptocurrencies to mine with GPU do you know? Just share your knowledge in the comments!