Crypto mining is one of the most widely practised crypto activities globally. It involves solving many complex cryptographic equations to find the upcoming block. Over the years, mining cryptocurrency has garnered traction from millions of crypto-ready investors.
While some may have interest, the investments involved, especially machine prices, have been a discouragement. Are there any budget-friendly miners for getting some top crypto assets? This guide answers the question.
Litecoin
Litecoin is one of the world’s largest crypto asset networks today and is popularly known as the earliest fork of Bitcoin. This coin briefly remained among the top ten crypto assets based on market cap.
Like Bitcoin, Litecoin’s all-time price actions show tremendous promise for the general investor. Ten years ago, LTC was listed on CMC trading at an average of $4. While the coin currently trades at $91, it has moved to an all-time high of $348 sometime in 2021.
Its excellent price actions are perhaps why Litecoin is considered an option for many miners.
There are two low-budget miners for generating LTC coins, according to reports. They include;
Budget-Friendly Miner— Antminer L3++
Antminer L3++ follows the scrypt algorithm, has a hash rate of 580MH/s, and consumes 942W of power. The miner’s price is $1550. This is for purchasing a new miner. Refurbished miners are cheaper but less productive.
Even Cheaper — FutureBit Apollo LTC Pod
Another miner available for generating Litecoin is the LTC Pod. Based on the info, this standalone miner operates solely without computer connections. LTC Pod has a 135 MH/s hash rate using the scrypt algorithm. Moreover, it consumes 200W in power. This tool can cost as low as $375, according to reports.
Dash
Dash is also another cryptocurrency investors tend to consider mining. Like Zcash, Dash prioritizes security and anonymity. Therefore, this crypto asset has always attracted masses interested in the entire ideology of privacy.
The coin’s price actions have also been quite attractive to many investors. Starting trading at the sub-dollar, the coin rose and hit the $1.2k mark in 2018. Such price volatility has been a force of attraction for the coin.
It is also one of the assets to mine using cheap machinery. Among the budget miners for Dash include;
Budget-Friendly Miners: Antminer D3
Antminer D3 is a product of Bitmain and brings a couple of benefits. For instance, this network has a hash rate of about 19.3 GH/s and consumes just about 1200W of power. It leverages the X11 hashing algorithm, which is vital for mining Dash and other cryptos. The D3 starts at a low value of $250.
Bitcoin
Bitcoin is a digital currency invented in 2009 by Satoshi Nakamoto, an unidentified individual or organization. Bitcoin popularized the general idea of mining and proof of work. As the pioneer crypto, the coin has garnered the most public attention.
Its prices and expectations indicate a very bullish sentiment in the market. This is probably why many investors want to mine BTC.
Many want access to affordable miners for BTC. Even though it is possible to mine Bitcoin using inexpensive hardware, the profitability of mining will vary depending on the price of power and the difficulty level at any particular time.
Affordable BTC Miner— Antminer S9
Antminer S9 is a product of Bitmain. It offers Bitcoin mining solutions with a hash rate of 13.5 to 14 TH/s. Moreover, the machine consumes about 1323 Watts of power to offer efficiency while mining Bitcoin. You can purchase this miner for as low as $650 and start earning Bitcoin.
Dogecoin
Dogecoin is a meme coin initially developed to facilitate transactions for social media tipping purposes. However, with time the coin has evolved into a viable payment solution attracting top investors like Elon Musk.
As the pioneer meme coin, Dogecoin is considered a high-value asset within the crypto community. Doge has been vastly associated with the phrase ‘to the moon’ over its life.
Like others mentioned in this article, Dogecoin also leverages a scrypt mining algorithm in a highly demanding process. It requires energy-intensive miners to complete the mining processes and start making profits.
Affordable Doge Miner — Goldshell Mini Doge PRO
This miner has a hash rate of about 205 MH/s and 220 watts in power consumption. According to reports, this device costs an average of about $1090. It’s among the few miners you can use without breaking the bank.
Zcash
Another popular crypto asset that investors could mine easily with low-budget machines is Zcash. Zcash is famous as one of the leading private crypto assets, and its relevance is high to investors interested in obscured transactions.
Like other crypto assets highlighted above, Zcash has also leveraged proof of work mining consensus to secure the network and release new coins.
While its price actions have not been friendly to the average investors, the coin remains among the market’s top performers and one to consider mining.
Budget-Friendly Miner: Bitmain Antminer Z11
Antminer Z11 is a product of Bitmain. This tool has features like a hash rate of 135k SOL/s and consumes 1418 Watts. With as low as $1000, you can get this miner in the markets. This miner is among the few selling at the sub $1k.
The Z11 Antminer is probably the cheapest ASIC mining rig for generating Zcash.
Final Word
This guide has examined some of the top crypto assets investors can mine with budget-friendly miners. Some coins include bitcoin, Litecoin, Dash, Zcash, and Doge. Depending on the coin, the miners used can range from as low as $250.
