Cryptocurrencies that you can mine from your computer in 2024

Although mining bitcoin with a personal computer is no longer profitable, there are still other cryptocurrencies that you can mine from home if you are willing to invest some effort.

For those who find the volatility of investing directly in cryptos excessive but wish to participate in this new economy, setting up a small home mining operation could be the ideal solution. Beware of “cloud mining” offers - all the ones I have analyzed are scams, no matter how attractive their returns may seem.

What crypto should you mine?

The most accessible cryptocurrency to mine is one that does not require building an expensive specialized setup. Although initially bitcoin could be mined with common computers, the increase in difficulty and the arrival of ASIC (Application-Specific Integrated Circuit) hardware have made it practically impossible to mine it profitably at home. However, other cryptocurrencies remain viable for home mining.

Dogecoin (DOGE)

Market Cap: 21.800 million | Daily Volume: +2.500 million

Although it started as a meme, Dogecoin has gained popularity thanks to Elon Musk and now has a considerable user base. Unlike bitcoin, DOGE is designed to add new coins each year, which provides an additional incentive for miners.

To mine DOGE you will need a digital wallet, and you can use CPU miner for processors or cgminer/cudaminer for graphics cards. Joining a mining pool like MultiPool is recommended to increase your chances of success.

Ethereum Classic (ETC)

Market Cap: 4.350 billion | Daily Volume: 300 million

Ethereum Classic emerged to keep the original Ethereum chain alive after the DAO rescue. Since Ethereum migrated to proof of stake in 2022, ETC has gained popularity among miners who previously mined ETH. Although it can be mined with ASIC machines, it is also viable with desktop computers.

Monero (XMR)

Market Cap: 2.5 billion | Daily Volume: 40-100 million

Monero stands out for its focus on privacy and its design specifically resistant to ASICs, making it perfect for home mining. You will need to download the official wallet and software like MultiMiner to get started.

ZCash (ZEC)

Market Cap: 470 million | Daily Volume: 40-80 million

Launched in 2016, ZCash uses the Equihash algorithm, designed to resist ASICs, allowing anyone with a decent GPU to participate in its mining.

Ravencoin (RVN)

Market Capitalization: 350 million | Daily Volume: 50 million

This Bitcoin fork is optimized for transferring assets between users. Its KAWPOW algorithm is designed to resist ASICs and can be mined with a consumer GPU.

Bitcoin Gold (BTG)

Market Cap: 785 million | Daily Volume: 40 million

Although the project seems to be stagnant since 2021, BTG maintains a respectable market capitalization and trading volumes that facilitate the sale of what is mined. It uses Equihash-BTG ( or Zhash) and its price movements often correlate with Bitcoin.

Horizen (ZEN)

Market Cap: 202 million | Daily Volume: 10-12 million

Launched in 2017, ZEN is GPU mineable and aims to ensure data integrity and privacy. Like most altcoins, its price tends to follow the general trend of Bitcoin.

I am surprised that with Bitcoin trading at over $115,000, there are still so many viable alternatives for home miners. The real question is whether the electricity consumption justifies the returns, especially when the market is not booming. Perhaps it would be more worthwhile to buy the cryptos directly than to try to mine them, but I understand the appeal of “making” your own digital money.

GPU mining can generate anywhere from a few dollars to hundreds per month, depending on your equipment and the price of electricity in your region. In a bull market like the current one, with BTC rising 71% in the last year, profitability can be much higher than during bear periods.

Ultimately, home mining remains an interesting option to enter the crypto world without directly exposing oneself to the volatility of direct investment.