10 Easiest Crypto to Mine at Home
Entrepreneurs set up warehouses filled to the brim with mining hardware, running operations with millions in revenue. University students hooked up their laptops to mining pools, racking in a couple dollars at night, without having to do much of anything.
But times have changed. Numerous blockchain networks are shifting to staking, and the need for mining is slowly fading out. The thing is, millions of businesses and individuals still rely on mining for their livelihood, and it’s getting tough combing through the wild crypto west to find the easiest crypto to mine.
Furthermore, mining hardware has evolved. In 2009, mining crypto was relatively easy; anyone could connect to a pool and earn a buck with a CPU. Now, Application-Specific Integrated Circuit (ASIC) devices and other advanced mining hardware are all the rage. As a result, newcomers are finding it more and more challenging to get started.
Already have mining software and hardware installed? Not to worry—we’ve scoured the web and compiled a list of the 10 easiest crypto to mine in 2023. Are you ready? Let’s get into it:
Although Monero (XMR) is shadowed by Bitcoin, it is a frontrunner and top contender for the easiest crypto to mine in 2023.
The reason? Its ASIC-resistant PoW algorithm, created by the community through open-source code, makes it impossible to build specialized hardware to mine XMR. This leads to a fair mining environment, free from mining farms and corporations like HIVE Blockchain Technologies Ltd. and Bitfarms Ltd.—instead, anyone can mine XMR, as long as they have a CPU or GPU.
All you need to do is install a mining software of your choice, open a Monero Wallet, sign up to a mining pool, and watch as your computer does all the magic for you.
Oh, and we almost forgot to mention—Monero was the first cryptocurrency to implement tighter privacy measures compared to its predecessors like Bitcoin and Zcash. Users can send or receive transactions without making the data publicly available on the blockchain.
Also, over time, Monero’s hard-working dev team have continued to push the boundaries of cryptography by implementing features like one-time addresses and confidential transactions, to name a few.
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You could think of Bytecoin (BCN) as Monero’s long-lost cousin: they’re practically from the same family, but their algorithms differ even if they accomplish the same goal.
Again, just like Monero, Bytecoin is one of the few altcoins you can mine effortlessly with your CPU. Regardless, over the years, Bytecoin has shifted its focus to GPUs and, later on, ASIC devices. So although you can still plug in your CPU, this may be the easiest crypto to mine if you have an ASIC device.
All you need to do is get the required software (wallet) and start earning as long as you follow all the instructions. It’s the software that does the work for you.
And like we said, Bytecoin has a different algorithm than Monero, but they both accomplish the same goal: utmost privacy. The CryptoNote algorithm decentralizes Bytecoin while providing untraceable transactions. Users can send and receive BCN without worrying about additional fees and government intervention.
There’s no doubt that Electroneum (ETN) is on the podium for the easiest crypto to mine in 2023. The dev team has turned it into their mission to make Electroneum the most accessible crypto through easy-to-use software and on a wide range of devices.
Quite frankly, with just a few clicks, you can begin mining ETN without worrying about ASIC devices—that’s right—Electronuem is just like Monero in this sense. With its ASIC-resistant mining algorithm, you won’t get outcompeted by specialized hardware and dedicated miners. Just plug in your GPU and get cracking!
On a side note, Electroneum values privacy just as much as Monero and Bytecoin—no one can tell which wallet transactions come from, and balances are impossible to look up.
Dogecoin (DOGE): the ultimate meme coin. Back in 2020, this cryptocurrency broke headlines, mainly because of Elon Musk’s Twitter trolling and his uncanny remarks about using the coin as payment technology.
Now, what you may not know about Dogecoin is that it came to fruition in 2013 through an open-source code. Yup, Dogecoin is old… older than powerful networks like Ethereum. It’s based entirely on Litecoin and uses the same proof-of-work consensus mechanism as its bigger brother.
You also probably didn’t know that Dogecoin stems from grassroot initiatives: its loyal community donated $30,000 to the Jamaican bobsled team for the Sochi Winter Olympic Games and another $55,000 to sponsor a NASCAR driver! That’s just the tip of the iceberg.
If you don’t care about its history, you’ll definitely care about the mining experience with Dogecoin. It’s often quoted as one of the easiest crypto to mine, especially when placed beside Bitcoin.
Dogecoin is built for all hardware, including CPUs, GPUs, and ASIC devices. It also has its own Dogecoin mining pools and cloud pools, great for those who want to start small. However, solo mining isn’t profitable, and we recommend you avoid this strategy if earning money is top of mind.
After Satoshi Nakamoto launched Bitcoin in 2009, hundreds of cryptocurrencies and mining firms popped up out of nowhere. The success of Bitcoin was inspiring, and many praised its decentralized nature to counteract the government’s mishandlings.
In essence, most, if not all altcoins birthed after Bitcoin’s emergence adopted a copy and iterate strategy. Simply put, they would modify one or two things to differentiate themselves from their bigger and badder competitor.
Recall that Bitcoin launched in 2009, and back then, CPU hardware had more than enough processing power to mine the less-than-one-gig blockchain. But as more and more people adopted the currency, the blockchain grew in size, and competition followed suit. As a result, hardware evolved, and ASIC devices became the new norm.
The problem? Since only a few can afford ASIC devices, and even less can afford to build ASIC farms, Bitcoin was becoming centralized. Cue Vertcoin (VTC): a peer-to-peer altcoin with an ASIC-resistant policy in place.
Vertcoin has increased in popularity over the last eight years due to its lenient decentralized policy. The developers place emphasis on everyday people like you and I, who only want to achieve small-scale mining. VTC’s extended support of GPUs for mining makes it the people’s preferred choice.
If you’re looking for the easiest crypto to mine, Vertcoin is among the best.
Litecoin (LTC) is a legendary altcoin packed with history. Two years after Bitcoin launched, there was a discrepancy in the Bitcoin community: is their beloved cryptocurrency feasible with its slow block time and low total supply?
For a subset of the larger community, the answer was firm no. So Charlie Lee, an ex-Google software engineer, decided to take matters into his own hands by creating Litecoin. In October of 2011, he hard forked the Bitcoin blockchain with a more lightweight algorithm, capable of reaching faster block times with a higher number of total coins.
In his words, Litecoin should be seen as a complement to Bitcoin, a “silver to Bitcoin’s gold” you could say—the technology is flawless for smaller transactions, whereas Bitcoin is more suited for heavyweight transactions.
If you’re keen on mining Bitcoin but mind the slow transaction speeds, Litecoin is the perfect option for you. Just remember: you’ll have to join a mining pool to earn a profit, and you’ll have to invest in ASIC rigs to compete.
It isn’t the easiest crypto to mine on our list, but it does have more extensive use cases then the rest.
If you’re seeking long-term profitability, backed by a robust network with thousands of software, apps, and tokens, then Ethereum (ETH) is your go-to.
Born in 2015, Ethereum introduced programmable smart contracts into the crypto ecosystem. Now anyone can develop whatever they please, with tokenomics involved, as long as they pick up and learn Solidity.
Just take a look at the formation of DeFi on Ethereum, a multi-billion dollar industry that continues to evolve as time progresses. You can easily carry out financial services such as requesting loans and issuing assets, with no single entity controlling the process. Isn’t that amazing?
No other altcoin has an ecosystem as reliable as Ethereum. But, just like Litecoin, ETH isn’t the easiest crypto to mine on this list. ASIC hardware is running rampant, and solo miners won’t succeed.
If you plan to find the easiest crypto to mine, there are several questions you probably want to ask yourself—from hardware capabilities, to profitability, to even privacy, you’ll always have a tough time finding “the one.”
Conceived initially as a privacy extension for Bitcoin in 2013, Firo‘s (previously known as Zcoin) renowned Merkle Tree Proof of Work algorithm (aka MTP) levels the playing field for full-time mining operations and solo miners. The ASIC-resistant code is perfect for those who have little to invest or are looking to dip their feet into the water.
Do you want to achieve high profitability with a GPU or CPU? Or maybe you don’t want people tracking your transactions and wallet balances. If you agree to any of these two points, Firo is perfect for you.
9. Binance Coin
If you’ve entered the metaverse and haven’t heard of Binance by now, we recommend you do a quick Google search to familiarize yourself with the platform. It’s the world’s largest cryptocurrency exchange by trading volume, and its coin (called Binance Coin or BNB for short) is the fifth-largest cryptocurrency by market cap.
BNB serves a couple of purposes—it’s a utility token used to pay for trading and transaction fees on the platform while also enabling payments for travel accommodations, online services, loans, and more. Like ETH, BNB is crucial for the upkeep of the Binance Blockchain.
Unfortunately, you can’t directly mine BNB from the blockchain. BNB runs on the Byzantine Fault Tolerance (BFT) consensus mechanism, similar to a Proof of Stake-powered network like Solana. Instead of mining, you would be “staking.”
But luckily, there are ways to mine BNB indirectly—you can create an account with unMineable, which essentially mines Bitcoin and Ethereum, then automatically trades it for BNB. Cool right?
If you’re interested in this tool, give this BNB mining guide a quick read.
Have you noticed a pattern in the cryptocurrencies listed here? The easiest crypto to mine is generally the one with an ASIC-resistant consensus mechanism, where anyone can participate without worrying about unfair competition.
Thankfully, Ravencoin (RVN) is in this bracket. So if you have an NVIDIA or AMD graphics card, you can begin mining now.
You can think of Ravencoin as an alternative to Bitcoin. It has the same total supply (21 million), similar halving events, and a similar consensus mechanism, minus the ASIC-supported framework.
A couple tips before moving forward
Now that you have an idea about the easiest crypto to mine in 2023, getting ready to evaluate how much your willing to invest and your goals.
At first, we recommend you buy an efficient GPU. They’re far better than CPUs for mining, and they also don’t come with a steep price tag like their ASIC counterparts. Also, as you saw from the list, there are plenty of cryptocurrencies that are ASIC-resistant and tailored for first-time miners.
If you’re interested in getting some hardware soon, check out our mining hardware guide here.
It should also come to no surprise you’ll need to get your hands on some mining software to achieve your mining goals. And who would’ve thought? We have two mining software guides on our site, one for Windows, and the other for Linux.