1. Monero (XMR) - Anonymity Centric Currency | This is one of the most popular privacy coins today. Transactions using Monero remain anonymous as details about the sender, receiver, and amount remain hidden. To mine Monero, one must use the official Monero GUI client and download software that supports Monero mining (like MultiMiner). You can either mine individually or join a mining pool. Current Price: USD 114.27; Market Capitalisation: USD 2.06 billion; Block Reward: 0.603 XMR/block (Image: Shutterstock)
2. ZCash (ZEC) – Privacy-Focused Currency | ZCash is another popular privacy coin. Like Monero, ZCash transactions are largely untraceable. ZCash also shares similarities with Bitcoin, namely a fixed total supply of 21 million. Mining ZCash is relatively easy. Simply download the EWBP ZCash Miner and get started. The only catch is that you may have to wait during setup as a copy of the entire blockchain is downloaded and synced with your computer. Current Price: USD 66.71; Market Capitalisation: USD 975.43 million; Block Reward: 3.51 ZEC/block (Image: Shutterstock)
3. Ravencoin (RVN) – Optimised Asset Management | Ravencoin is based on the Bitcoin code. As such, it was designed for instant and smooth asset transfer between users. However, overtime, developers have also added features like messaging, voting, compatibility, etc. It is powered by the KowPow protocol, which makes it ASIC resistant. This means that users with advanced ASIC chips cannot participate in the mining process. While you can start mining with a basic CPU, going solo might not be very profitable. Therefore, joining a mining pool is a better option. Current Price: USD 0.02; Market Capitalisation: USD 223.96 million; Block Reward: 2,500 RVN/block (Image: Shutterstock)
4. Litecoin (LTC) – P2P Payments | Litecoin is one of the oldest cryptocurrencies in the game. It is considered the next best alternative after Bitcoin in terms of mining viability. It is built using the Scrypt protocol, which eliminates the need to buy expensive ASIC chips to commence mining operations. Moreover, its volatility has also been observed to be lower than most other altcoins. However, mining LTC consumes a lot of memory, and it is advisable to use a GPU while mining. Current Price: USD 52.37; Market Capitalisation: USD 3.70 billion; Block Reward: 12.53 LTC/block (Image: Shutterstock)
5. Bitcoin Gold - A Cryptocurrency with Bitcoin Fundamentals | Bitcoin Gold was introduced solely because mining BTC was getting too difficult. This spinoff of the world’s biggest cryptocurrency is traded on most major exchanges and can be mined using common GPUs. You can mine solo with a simple Nvidia GTX 970 chipset. Alternatively, there are several mining pools that you can join as well. Current Price: USD 16.87; Market Capitalisation: USD 296 million; Block Reward: 6.25 BTG/block THIS IS A PARTNERED POST. (Image: Shutterstock)