The crypto world has caught many by surprise. No one could predict the growing popularity and widespread use of cryptocurrencies in the present market, especially since many of the top cryptocurrencies began in the late 2000s and early 2010s. Despite this hesitancy, crypto trading has become a thriving enterprise. If you’re interested in the crypto world, read this list of the most popular cryptocurrencies to mine to see where to start.
Bitcoin
Bitcoin is the leading cryptocurrency today. It is the largest decentralized digital currency with its own peer-to-peer network. Based on blockchain technology, cryptic nodes verify Bitcoin through open-source software. After its creation in 2009, Bitcoin has since defined the crypto market, with some governments, like El Salvador and the Central African Republic, adopting it as a legal currency. Bitcoin mining requires a sophisticated system of hardware and software to receive crypto tokens via blockchain technology.
Ethereum
Ethereum is another popular type of cryptocurrency. It is also decentralized, open-sourced, and uses blockchain technology. It is second to Bitcoin in the crypto market. Since going live in 2015, Ethereum has allowed decentralized finance applications without brokerages, banks, or exchanges. It is also the main driver for creating or exchanging non-fungible tokens (NFTs). In addition to Ethereum (ETH), one can mine Ethereum Classic (ETC)—a derivative that is cheaper and has many of the same features as Ethereum. However, there are still some differences between the two that miners should know. ETC is not as secure as ETH, nor is it backward compatible.
Dogecoin
Finally, one of the other most popular cryptocurrencies to mine is Dogecoin. What once started as an internet meme has since evolved into an active cryptocurrency worth billions of dollars in market capitalization. While satirical to some, Dogecoin is a widely mined cryptocurrency with a subculture of devoted followers. It has a block time of approximately one minute for a net reward of 10,000 Dogecoins.
