Many of you may not recall the days before DeFi made its mark in the crypto world. Back then, one of the most effective ways to support your favorite projects was through mining. Nowadays, Bitcoin has become too costly to mine due to its high hash rate and the power-demanding ASICs needed to mine a block. However, there are several alternative coins you can mine to support your preferred network.
This article will concentrate on the best PoW coin that is accessible for mining by Americans.
Why?
Because, as with many aspects of crypto, Americans face limited options. Yet, there are some promising choices available.
Top PoW Coins
Aside from Bitcoin, proof of work (PoW) coins have taken a back seat to proof of stake (PoS) coins in the crypto landscape. This shift is understandable, given the plethora of PoS projects compared to PoW coins. Nonetheless, there are some outstanding PoW coins currently available for mining. Here’s a list of some of the top contenders:
- Ethereum Classic
- Litecoin
- ZCash
- DASH
- Dogecoin
- Ravencoin
- Vertcoin
- Bitcoin Cash
- and Siacoin
As you can see, it’s quite an extensive list. Here at Altcoin Buzz, we are fond of a couple of these coins. However, we believe that the best coin to mine, and the one that is easiest for Americans to get into, is Ravencoin.
Introduction to Ravencoin
Ravencoin ($RVN) originated as a fork of Bitcoin, with an aim to facilitate the tokenization of various assets, including even illiquid items like gold, land deeds, or energy credits. Its block time is notably shorter than Bitcoin’s, clocking in at just 1 minute instead of 10. These quick block times allow RVN to handle a large volume of transactions.
Additionally, there are several NFT projects, strictly peer-to-peer (p2p) initiatives, and Layer 2 solutions developed for Ravencoin. One such project is a decentralized, tokenized Euro stablecoin. Another is a venture that conducted a security offering to fund their business, which specializes in building modular homes from shipping containers. Yet another project integrates Ravencoin with IPFS for storage solutions in Web3.
Clearly, Ravencoin is far from being just another low-utility project. There’s a wealth of innovative activities happening within its ecosystem.
Why Ravencoin is Simple to Mine
So, why choose Ravencoin? While there are other attractive projects on this list, such as Litecoin, which is the original altcoin and can be mined alongside Bitcoin, and ZCash and Monero, the two pioneers of privacy coins, the easiest option to mine is undoubtedly Ravencoin. There are 20 different mining pools available for you to join and share in the block rewards, which amount to 2500 $RVN every minute. The new mining algorithm, X16R, eliminates the necessity for ASICs. In fact, you can mine with virtually any compatible GPU, provided it can process quickly enough to ensure your $RVN earnings cover your energy expenses. This attribute makes mining $RVN comparatively easier than most other options. You can simply use a GPU you already own or purchase one like you would for a gaming rig, connect it to a pool, and start mining—it’s that straightforward.
Now, pertaining to American users: Did you know one of the platforms where Americans can purchase $RVN to begin mining is Binance.US? Moreover, Binance US offers an opportunity for users to get whitelisted for Cristiano Ronaldo’s very first official NFT collection, receive a complimentary souvenir NFT, and earn $500! Just click this link to get started.
The post Is This the Best PoW Coin for Americans to Mine? appeared first on Altcoin Buzz.
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