So the payback period will be a little higher than expected. Before we start mining Vertcoin let us take a look at some of the best mining pools for mining Vertcoin. As I have mentioned previously, Vertcoin uses the Lyra2REv2 protocol. As it is a popular protocol and Vertcoin itself is also popular, there are a lot of options when it comes to mining pools. Let us compare the hash rates of a few popular graphics cards from Nvidia.
- This website is using a security service to protect itself from online attacks.
- But both of them are very responsive mining pools with a large number of miners.
- Vertcoin is all about fairness and simplicity of the mining process.
- Last, but not least, you’ll need a wallet to receive your mined coins.
- It’s the most secure and user-friendly option for beginners.
Its society is welcoming newbies, so you will be supported (if you are one, of course). Vertcoin is playing it simple and gives the chance to the members of the network to participate and keep the network decentralized. https://cryptolisting.org/ The first one to report his result to the network will win. Further to that, your internet connection should be reliable, as you’ll need constant access to the blockchain to mine and make money.
To get you started, we’ve gone ahead and done that part for you. Our research shows, that NiceHash and MiningRigRentals are reputable cloud mining providers. Every aspect of our Vertcoin mining calculator has been developed for miners by miners.
Block Reward
So Nvidia cards always get an upper hand while mining this cryptocurrency. Because they provide the best price to performance score. So, if you are looking for alternatives on what to mine using your older 4GB GPUs and you are not ready to get rid of them, then VertCoin (VTC) mining might be another good option that provides decent profitability. It might be even better than ETH mining at the moment with the current diminishing hashrate that the 4GB GPUs provide, so, definitely worth checking out what your video cards can currently make on VTC. A block reward is an incentive that miners get when they approve a transaction. Mining is the process that Vertcoin network use to generate new coins and verify new transactions.
Unlock your mining potential with minerstat®
Best Vertcoin mining profitability calculator with difficulty, hashrate, power consumption (watts), and kWh preloaded for 2024. Calculate your Vertcoin mining profitability and estimated mining rewards by starting with the Vertcoin mining hashrate calculator inputs above; mining hardware, mining costs, and mining reward. Mining Vertcoin is not profitable at this time with the mining hardware hashrate of 2.50 MH/s, electricity costs, and pool / maintenance fees provided.
Why you should mine Vertcoin?
This means that Vertcoin mining is mainly conducted using GPUs. Keep in mind that with each Vertcoin halving event, the reward for mining a block is reduced by half, leading to a 50% decrease in both the block reward and the overall network inflation for Vertcoin. Additionally, Vertcoin has earned recognition as the top GPU mining coin of 2023. vertcoin gpu mining calculator Discover more about this and other prime GPU mining options for 2023 by exploring our guide on the Best coin to mine with GPU in 2023. When picking out a provider, have in mind the price of the contract and calculate your profitability. Furthermore, make sure to properly research the companies you choose, as there are many scams out there.
Enter your Vertcoin mining hashrate, power consumption in watts, and costs. Ready to start mining VTC and optimize your profits? Join minerstat and explore the most effective mining software options to boost your hashrate and earnings.
The data in this table will prove useful later on in the article, when you’ll be able to use it to estimate your potential profit. You’ll find more details in our Vertcoin mining calculator section. There are some crucial points to consider when picking a hardware for Vertcoin mining.
All of these cards provide very good hash rates for Lyra2REv2. But if you consider the price to performance then the picture becomes pretty clear. As I have mentioned above Nvidia cards are always the better choices for mining Vertcoin. So this makes Vertcoin a very good cryptocurrency to start mining. Plus the entry cost is quite low compared to Bitcoin and Litecoin mining. That is why in this guide we are going to talk about Vertcoin mining.
Vertcoin will make you feel like you’re your own bank institution. VTC is divided mainly into developers, PR, marketing, administration and community departments. The team searches for various ways to educate everybody within the network, helping them gain knowledge and become stronger. It never stops working on remaining resistant to ASICs. This coin stays true to its core idea and is open for everybody, that has crypto interests.
After the recent fork of Vertcoin (VTC) form the Lyra2REv3 algorithm to the new Verthash algorithm the profitability for mining it has been quite good, although not as good as mining Ethereum (ETH). The VertHash mining algorithm is a memory intensive one similar to how Ethash for Ethereum, though VertHash does use less video memory. This is also the interesting part, especially for owners of older GPUs such as Radeon RX 470, RX 480, RX 570 and RX 580 with 4GB of video memory that are at the end of their life as far as Ethereum mining is concerned. Vertcoin (VTC) primarily uses the Verthash algorithm, which was specifically designed to be ASIC-resistant and GPU-friendly, thereby promoting decentralization.
The Vertcoin hashrate increased fivefold after Ethereum switched to Proof of Stake (PoS) on September 15, 2022. Hundreds of GPU miners moved to the Vertcoin network following Ethereum’s transition to PoS, as GPU miners were no longer able to mine Ethereum. Hashrate refers to how much computing power is being used by the Vertcoin network to process transactions. It helps gauge the health and security of the network.