Cryptocurrencies can be mined at home but they require supercomputers and highly sophisticated mining rigs. Still, the miners of Kadena and Scrypto have been earning more profits than the miners of Bitcoin.
Another promising year in terms of the crypto economy is going to end very soon. In the history of cryptocurrencies, the year 2021 will be remembered as being most profitable for crypto investors and miners as well.
As per the statistics, the data reveals that there are not one but several crypto coins that can be mined easily as compared to Bitcoin. Most importantly, these coins have huge potential for rewarding promising profits to the miners without the need of having super CPUs.
When Bitcoin was introduced in 2019, the mining of Bitcoin was so simple that even an ordinary CPU could mine Bitcoins. However, with the introduction of GPUs namely “graphics processing units”, the whole mining process was changed and improved. It slowly became impossible for an ordinary CPU to mint a Bitcoin and ordinary machines were replaced with “supercomputers”. Thereafter, Bitcoin mining machines called “ASIC” came into being and changed the whole mining scenario.
Still, miners believe that mining Bitcoin, though it requires supercomputers, is the best profit-making mining activity. However, they are wrong and misguided. There are various cryptocurrencies that are rather overlooked because people are not aware of them as they should be.
It is true however that ASIC can only mine Bitcoin. If they were to be utilized for minting other coins such as Ethereum etc., then they are completely useless. So the machines of ASICs serve only the Bitcoin network because each network has its own sets of “algorithms”.
People are unaware that there are cryptocurrencies that are part of the network known as “SHA256”. In this network, there are digital currencies such as Eaglesong, Kadena, Ethash, and Scrypt. All four digital currencies are potentially profitable if one were to initiate their mining.
According to the estimate of “asicminervalue.com”, a miner can earn US$326 on daily basis effectively. Similarly, a miner can make up US$ 110 on a daily basis if he or she were to mine Scrypt.
Considering the amounts of earnings on daily basis for Kadena and Scrypt, there is an ample opportunity for anyone. However, though it earning handsome money through mining looks quite simple yet it is not the case.
As compared to Kadena and Scrypto, Bitcoin miners are in fact earning US$27 only on daily basis.
A person has to invest a great deal of money if he or she wants to become a miner. Similarly, for mining Bitcoins or Ethereum, an investor has to bring on the table a big pile of money. Even after putting in so many funds, they cannot earn handsome profits as have been earned by miners of Kadena and Scrypto.