8 Best Coins to Mine with CPU in 2023

Cryptocurrency mining has become quite popular in the recent few years, as the value of cryptocurrencies continues to reach new heights. Mining involves the process of solving a complex mathematical problem to validate the transactions and add them to the blocks in the blockchain.

After successful mining, the miners receive a reward in the form of cryptocurrency mined. As there is constant growth seen in the cryptocurrency Industry, a lot of companies and individuals are looking forward to mining digital currencies, but choosing the correct cryptocurrency is always a challenging task.

In this article, we would discuss the best coins to mine with CPU in 2023 based on different factors. Potential cryptocurrency miners can make informed decisions after going through this article.

Along with it, we would also discuss different factors to consider such as block time, block reward, network hash rate, and much more. By the end of this article, you would have got a complete understanding of choosing the best cryptocurrency to mine using CPU in 2023.

Understanding CPU Mining

What is CPU Mining?

CPU mining is the algorithm run using the CPU to validate the transactions and add them to the block in the blockchain. It is based on the Proof of Work Consensus algorithm, one of the earliest forms of consensus algorithm for the cryptocurrencies like Bitcoin.

Initially, the computing power needed for mining was quite minimal as the difficulty was quite low. In today’s market, it is not easy to mine cryptocurrencies using the CPUs and minors need advanced hardware like ASICs(Application-specific Integrated Circuits) or GPUs ( Graphics Processing Units).

Pros

CPU Mining requires less investment and can be done using standardized computers.
It is a good choice for the miners who are going to start mining.

Cons

CPU mining is not quite profitable due to less computing power and a lot of competition.
CPU consumes a lot of energy which is environmentally damaging and expensive.

How to begin with CPU mining?

If you are looking to begin CPU mining, the very first step is to choose the relevant cryptocurrency and get the software. After this, you can configure the CPU followed by joining the mining pool.

The mining pool is a group of miners who combines their computation power to increase the chances of confirming and validating the block. Using the mining software one can get insights into the mining process and take informed decisions to ensure that one gets maximum out of their CPU mining strategies.

Top Coins to Mine with CPU in 2023

Monero(XMR)

Monero is the most popular Cryptocurrency that you can Mine with a CPU. it is the native cryptocurrency of the project that offers privacy-focused features and allows users to mine with the help of a CPU. Monero Uses the Proof of Work Consensus algorithm and its network is designed in such a way that it is resistant to ASIC Mining, resulting in it being a good choice to be mined with CPU. Monero has a large pool of users in the community who can help you find resources or CPU mining.

Electroneum(ETN)

Electroneum is one of the mobile-friendly digital currencies that is based on the POW consensus algorithm making it to be mined with CPI. Electronewum is designed in such a way that it is easily accessible and easy to use. People who are going to mine Cryptocurrencies for the very first time can consider mining Electronewum. It has got large block rewards and low difficulty, allowing miners to maximize their profits.

AEON

AEOn is another light weighted cryptocurrency that is quite secure and accessible. Even if you are new to CPU mining, you would find it easy to set up as it has a low barrier to entry. Like other Cryptocurrencies, it also uses the PoW consensus algorithm, making it a good choice for people who want to generate income through mining.

Haven (XHV)

Haven is the driving cryptocurrency of CryptoNote Protocol that allows users to make anonymous transactions. It is designed to store the medium of exchange and Value.

IntenseCoin(ITNS)

IntenseCoin is a cryptocurrency that offers secure and fast transactions. It uses an amalgamation of Both Proof of Work(POW) and Proof of Stake(POS) consensus algorithms that make it one of the most decentralized and energy-efficient protocols. IntenseProtocoal also majorly focuses on security and privacy features such as ring signatures and stealth addresses to protect user Identity.

ByteCoin( BCN)

Just like Monero, it is also a privacy-focused cryptocurrency that utilizes the PoW consensus algorithm making it easier to be mined using CPU. it has got quite a large block rewards and low difficulty making it easier for the minors to earn a large chunk of mining rewards. You can use their documentation to know more about it and find steps to set it up.

SumoKoin (SUMO)

SumoKoin is a privacy-focused cryptocurrency. It aims to provide the security features like stealth Addresses and ring signatures. Sumokoin is designed to be a decentralized cryptocurrency that can be used for regular transactions by keeping users secure by utilizing the technology behind CryptoNote.

Graft (GRFT)

It is a payment-focused cryptocurrency that offers secure and fast transactions for consumers and merchants. It is quite an energy-efficient decentralized protocol that uses both Proof of Work and Proof of Stake. Graft focuses more on offering interoperability and scalability to the users to have a seamless payment experience for consumers and merchants. The Graft network makes use of a Decentralised payment processing system that makes it easier for new merchants to adopt it.

Factors to Consider While choosing the cryptocurrency to Mine

Block Reward and Block time.

The block reward is the total number of tokens that you earn on adding a new block to the blockchain. A high block reward means that you would get more tokens as a reward for the blocks you mine. Whereas the block time is the time, then for the new blocks to be mined and added to the blockchain. If block time is quite more, then it is likely that you would earn a block reward

Energy Cost and Consumption.

Every Mining process consumes a lot of fo energy that can result in high electricity bills and fewer earnings. Hence it is one of the most important factors to be considered. When you choose a cryptocurrency ensure that it consumes less amount of energy so you earn maximum profit.

Market Value and Liquidity.

The market price of the token is measured based on its worth and relation with other Cryptocurrencies. A high market price of the token means that the coin is worthy enough and you can earn a good profit. Liquidity means how easily a token can be sold or bought. If any cryptocurrency has high liquidity, it means it can be easily bought or sold.

Network Hash Rate and Difficulty.

The difficulty of cryptocurrency mining is determined on basis of how it is difficult to earn rewards and mine new blocks. A high difficulty means it would take more computational power to mine new blocks. The network hash rate is the total computational power used to mine the cryptocurrency.

Conclusion

In conclusion, Cryptocurrency mining has been the most popular process since the launch of Bitcoin decades ago. Moneoro, Electroneum, Bytecoin, and AEON are some of the best cryptocurrencies to mine with CPU in 2023.

There are some factors that you should consider while choosing the correct cryptocurrency such as energy consumption, block, reward, network hash rate, and difficulty. It’s essential for you to do your own research before you make any investment.

Frequently Asked Questions

Q) Can I use my regular Computer for CPU Mining?

Yes, you can surely use your computer for CPU mining, but you should also know that CPU mining consumes a lot of energy. Also, it can slow down your CPU’s performance. It may be quite better to use a mining rig for cryptocurrency mining.

Q) What are some of the important factors to consider while choosing a coin to mine?

Some of the main factors that you should consider while choosing cryptocurrencies are market value, energy cost and consumption, liquidity, block time and block reward, network hash rate, and difficulty.

Q) Which one of the cryptocurrencies is profitable for CPU mining?

The most profitable cryptocurrency to be mined with CPU can be different over time. It is quite essential for you to stay up to date with the latest network and market trends. Some of the best cryptocurrencies to mine with CPU are AEON, Bytecoin, Electronewum, and Monero.

Q) Can I make a lot of money with CPU Cryptocurrency Mining?

Yes, you can make a significant amount of money with CPU mining. But while you choose the cryptocurrency consider all the factors discussed above and do your own research.