Most of you probably don’t remember a time before DeFi existed in cryptocurrencies. But back then, mining was one of the best ways to support your favorite projects. Bitcoin is currently too expensive to mine due to its hash rate and the power ASICs required to mine blocks. But there are also other coins you can mine to help support your favorite networks.
In this article, we will focus on the best PoW coins for Americans to mine.
why?
Because, like everything in cryptocurrency, Americans have fewer options. But there are some good options here.
Best PoW Coins
Besides Bitcoin, PoW coins (Proof of Work) have taken a back seat to PoS (Proof of Stake) in cryptocurrencies. It is understandable why this happened, as there are far more PoS projects than PoW coins on the market. However, there are some great PoW coins you can mine right now. Here are some of the best coins:
- Ethereum Classic
- Litecoin
- Zcash
- dash
- Dogecoin
- Ravencoin
- Vertcoin
- bitcoin cash
- And Siacoin
As you can see, it’s a pretty big list. And here at Altcoin Buzz, we like both of these coins. However, we think the best coin to mine and the easiest coin for Americans to get started with is Ravencoin.
Introduction to Ravencoin
Ravencoin ($RVN) began as a fork of Bitcoin. The goal is tokenization of all assets. As the website says, the same goes for illiquid assets such as gold, land deeds or energy credits. The block time is only 1 minute, not 10 minutes like Bitcoin. These fast blocks mean RVN can process a lot of transactions.
There are also a handful of NFT projects, strictly speaking peer-to-peer projects, and a layer 2 solution for Ravencoin. One is the decentralized and tokenized Euro stablecoin. Another company provides security services for businesses building modular homes out of shipping containers. And another project connects Ravencoin and its usage to IPFS for Web3 storage.
You get the idea. This is not just one coin, one chain, one low-utility project. There are a lot of cool things happening at Ravencoin.
Why Ravencoin is easy to mine
So why Ravencoin? There are other good projects on this list too. Litecoin is the first altcoin and can be mined in a complementary manner to Bitcoin mining. That’s by design. ZCash and Monero are the two original privacy coins. Privacy is now a big story too.
But the easiest to mine is Ravencoin. There are 20 different mining pools you can join and help share in block rewards. Block reward is 2500 $RVN every minute. The new mining algorithm X16R means no ASIC is required. In fact, it can be mined with almost any GPU, as long as the $RVN rewards are processed fast enough to pay for the energy costs. This alone makes $RVN mining easier than most other projects. You can use the GPU you already have or buy one like a gaming computer, connect it to the pool and start mining. It’s that easy.
Back to the US section. Did you know that Binance.US is one of the places where Americans can purchase $RVN and set up their account? Additionally, did you know that you can get whitelisted for Cristiano Ronaldo’s first official NFT collection on Binance US, receive a free souvenir NFT, and earn $500? Click this link to get started.