Most of you probably don’t remember back before DeFi existed in crypto. But back then, one of the best ways to support your favorite projects was through mining. Bitcoin is too expensive to mine now due to its hash rate and the power ASICs required to mine a block. But there are some other coins you can mine to help support your favorite network.
In this article, we are going to focus on the best PoW coin that Americans can mine.
Because like everything in crypto, Americans have fewer options. But there are some good options here.
Top PoW Coins
Other than Bitcoin, The PoW coin (proof of work) has taken a back seat in crypto to PoS (proof of stake). It’s understandable why this happened as there are a jillion more PoS projects than PoW coins in the market. But there are some excellent PoW coins out there that you can mine right now. Here are some of the top coins
- Ethereum Classic
- Bitcoin Cash
- and Siacoin
So you see it’s a pretty big list. And here at Altcoin Buzz, we like a couple of these coins. But we think the best coin to mine, and the easiest for Americans to get started is Ravencoin.
Introduction to RavenCoin
Ravencoin ($RVN) started as a fork from Bitcoin. Its goal is the tokenization of any asset. As they say on their website, even illiquid assets like gold, land deeds, or energy credits. Block times are not 10 minutes like Bitcoin but only 1 minute. Those fast blocks mean RVN can process lots of transactions.
There are also a handful of NFT projects, strictly p2p (peer to peer) projects, and Layer 2 solutions for Ravencoin too. One is a decentralized, tokenized Euro stablecoin. Another is a company that did a security offering for their business of building modular homes out of shipping containers. And another project links Ravencoin and its uses to IPFS for Web3 storage.
You get the idea. It’s not just one of these one coin, one chain, low-utility projects. There’s a lot of cool stuff going on at Ravencoin.
Why Ravencoin is Easy to Mine
So why Ravencoin? There are other good projects on this list. Litecoin is the original altcoin and you can mine it in a complementary way to mining Bitcoin too. That’s by design. ZCash and Monero are the 2 original privacy coins. Privacy is a big narrative now too.
But the easiest to mine is Ravencoin. There are 20 different mining pools you can join and help to share in the block rewards. The block reward is 2500 $RVN every minute. Their new mining algorithm X16R means that ASICs are not necessary. In fact, you can mine with almost any GPU as long as it processes fast enough that your $RVN rewards pay for your energy costs. This alone makes mining $RVN easier than most other projects. You can take a GPU you already have, or buy one as you would for a gaming computer, hook it up to a pool, and start mining. It’s that easy.
Back to the American part. Did you know that one of the places Americans can buy $RVN to get set up to mine is Binance.US? Also, did you know that on Binance US you can get whitelisted for the Cristiano Ronaldo first official NFT collection, receive his free souvenir NFT and earn $500? Just click this link to get started.