Inflation'S running High things are more expensive than ever, and they are trying to tax you more than they ever have before. Getting a side hustle on earn a little bit of extra cash in my opinion is more important than ever before, which is why I'm always so infatuated with mining cryptocurrencies allows me to earn passive income 24. 7 365.. Today, we're going to be looking at the top five best coins to be mining in 2023 and a bonus coin, and this doesn't have to be with you know, really expensive, customized Hardware, okay, we're talking CPUs, gpus, A6 fpgas or even earning crypto, which has a direct Monetary money value with hard drives: you don't have to be a crypto guy to get into crypto mining.
You can turn it on to 30 dollars. If you want, but the more you learn about cryptocurrency. You may realize that these crypto digital coins carry more value than that paper. Money that you grew up with my name is Oscar levosko and YouTube channel stick into it. Thank you.
I feel, like everything needs a disclaimer these days. It'S not Financial advice. Anything like that, and I have no relationship with any of these cryptocurrencies that we're talking about here today. I'Ve got no hidden agenda. I'Ve just I just really love mine, one of the best ways to kind of figure out.
Where should we even direct our focus? Is you know, where's the money at right and that's not what it's all about, but that's kind of the good place to start, because when there's almost 14 million dollars of Bitcoin mined in the last 24 hours, you start to wonder. How could I get a piece of that pie? The second biggest cryptocurrency to mine again now that ethereum is no longer minable, because if you didn't know this ethereum used to produce more money mine per day than Bitcoin, which is crazy but again no longer minable. Forget about it!
So now we got Dogecoin the second biggest cryptocurrency to mine, then Litecoin, which Litecoin used to be ahead of Dogecoin, but that little toes flipped LTC. So, between Litecoin and Dogecoin there's about two million dollars, uh of coins mined per day and here's the thing so Bitcoin is mine – was shot 256
Litecoin and Dogecoin were mined with script Miners and then there's another coin and another coin, some other hardware, and so I'm gon na break down each coin today and kind of what you need to get started with those. So again, let's touch on bitcoin, it's the big one, you're probably familiar with it, but it's good to just cover all the bases right. The beautiful white paper, peer-to-peer digital currency, CPU power, one CPU, one vote longest chain incredible. So there's a lot of Manufacturers that make Bitcoin miners bitmain would be one of the more notable ones there and they have dropped their prices on miners significantly.
Recently, like the s19 pro over here, two thousand dollars just a year ago, that was trading for ten thousand dollars. It'S almost as volatile as a cryptocurrency. You can also buy from resellers like coin mining. Central they do support us with mining rigs, but I bring them up because you can get shipping from within the USA if you're in the USA, which can save you on tariffs big time because they already dealt with that on a volume scale. You get a discount with our link and everything down in the video description below this.
Isn'T an ad there's just honestly a good option, because if you want to buy a Bitcoin monitor on bitmain, you have to kyc that's a lot of valuable personal information. You don't have to do that with coin mining. Central, but the takeaway here is that you need a big Miner for mine in Bitcoin, they're, loud they're, expensive, they're, hot. You need industrial grade, electricity, you're, really 240 volt right. They can't run on a normal us Outlet.
We cover all this in our electricity guide and our guide on how to set up an Asic Miner, an application, specific integrated circuit Miner. These are purpose-built machines, okay, so if you're looking to get your first mining rig, Bitcoin is probably not the best bet. Something like Dogecoin has much more approachable Miners and doge is still trading around 10 cents. At the time we're recording this video, it's probably going to hit one dollar eventually because Doge, you know, investors, users, whatever they're Fanatics, they're, not going to just let it not do that. I mean the those are the Dogecoin refuses to die, whether you love it or hate it.
That'S just the fact. That'S the reality here. Gold show is popular for making uh Dogecoin miners. They have their mini Doge, Pro um, which, which is a very cool way, to kind of get exposure um on a small scale, and it was selling for only 260 dollars last time that they sold. These there's also the mini Doge miners.
We did collaborate with them on that. You know a little bit of a transparency, disclaimer right and that was last year. So there's a newer model, that's a bit more profitable um. But you know these miners trade on eBay all the time and I think they're really cool collectors piece, but obviously your boy is biased, but I really bring them up also because, if you're looking for an entry-level Asic Miner, it's gold Shell. By far with these little box miners – it's not always about having the biggest profitability, the best efficiency, you may need to spend 10 grand to get the latest and greatest Big Boy Miner.
To do that, you get this thing. I mean look at the the form factor. It'S small, it's easy to use, some of them even have Wi-Fi adapters and you don't need to run an ethernet cable to them. Like that's, pretty freaking cool, then, when you get to these bigger ones over here they become bigger, they become louder, they're, more power hungry. They make and the more power you consume the more heat that you produce so just kind of understand and be aware of that.
Their light versions are big form factor but actually relatively quiet and don't make too much heat, which you can reference in. Our video reviews of those most notably again we're mining Dogecoin as well as a Litecoin script, is the mining algorithm for these two coins. These would be the coin number two coin number three to mine. In 2023 Litecoin I mean it's very boring. Uh Charlie, the CEO leader, face of Litecoin basically sold the top a couple of Cycles ago and I've just been casually working ever since it's a very anti-climactic exit uh.
But you know I don't mean to sound negative or hating on it or anything like that and sorry, if I sound a little nasally, I'm still getting over freaking cold but uh yeah I mean Litecoin is it was supposed to be the silver to bitcoin's gold? It'S functional, it's fine! It'S just it's just kind of boring right and you want the bigger you know very profitable Miner for Litecoin and Dogecoin you'd be looking for the bit main antminer L7. Okay, this thing mine's about 32 dollars a day in Litecoin as well as Dogecoin. Again, it's merge mine.
You mine both coins at the same time and a 12 separate kilowatt hour. Electric rate you'd be consuming about ten dollars in electricity, so you'd still pull 22 and a half dollars per day or about eight grand a year with this device. But it's one of the most profitable miners to buy right now, which means it's carrying a pretty hefty price tag enter a coin that was funded by VCS and sounded cool until we realized it wasn't and it's boring and they just really enriched their Founders, enter Z. Cash Zach, a coin that was popular in 2017,
It'S basically a Bitcoin Fork, but with a privacy, but the Privacy was basically never used and then the people who created this made millions and millions of dollars, and nobody else did Z cash and all the Z trash Forks of uh, the cryptocurrency. It is still one of the most profitable coins to mine with the bitmain z15.
I think that we will see a new, more efficient, equa hash, which is the mining algorithm for this coin. Mine are on the horizon. Yes, this is another Asic coin. We'Re going to talk about a couple Hardware Alternatives, but one thing you need to understand is the mining landscape. Right now is very Asic.
Heavy mining has been around for a while people are spending millions and millions of dollars to develop. Cryptocurrency Centric Hardware mining devices insert some more terms: sound, release, fancy and Technical. The fact is, it's an arms race. That'S a lot of money to be had so they'll put more money in hey guys. It'S Miss Vosk here to tell you about today's video sponsor Brew money.
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This is not Financial advice. Please do your own research before investing the bitmain z15 right now consumes only 1 500 watts, not that much a hash rate on Echo hash of 420k hashes. It earns about eight and a half dollars per day, consuming about three and a half dollars per day in electricity at a 10 cent per kilowatt hour, electric rate, leaving you with about five dollars, pretty good earnings, depending on that price. You can get into that minor when we click over to eBay. We can see, buy it Nows for this Miner at four grand.
So is that interesting at four grand? Well, let's run some mathematics: 365. Oh okay, we lost today, I guess times five and so over. The next year you would make about two thousand dollars, so you'd be projected to break even on this thing at 10 cents per kilowatt hour in about two years again, I think that's a risky buy, given that these miners are older. I mean look how just dusty and dirty that one is clearly in that picture again.
I think we'll see new hardware for this very soon uh, but I may be wrong. It'S not a very interesting cryptocurrency to develop mining hardware for we've. Seen a lot of developments for other cryptocurrencies like Cadena and KDA is a cryptocurrency. That'S actually not on our list, because it's not pulled on mining pool streams. So it's not part of the top five, and to recap we have Bitcoin Dogecoin Litecoin Z.
Cash haven't gotten a number five yet, but as an aside, we'll call this number seven. Okay, Cadena is not pulled there with their mining stats, but it is a profitable coin. To mine, they're spending millions of dollars in development for their ecosystem, but again it is another Asic mind coin, which I know is not interesting to a lot of people. So let's talk about a cryptocurrency that you don't mind with an Asic Miner. That'S gon na be Chia.
Forget the pets. Okay, it's built on trust. Apparently, it's a network blockchain rural use, regulatory compliant Carmen registries, whatever it's a platform blockchain that you can mine with hard drives, and we actually have some Evergreen miners in that I'm working on reviewing right now. If you want to get ahead of the curve, you can grab these miners at the best deal down with our Link in the video description below and support the channel. These things are cool, they're, stackable, it's nice form, factor low power, consumption and they're profitable.
It'S pretty much everything you could ask for in mining, especially in a market like this plus, it's basically voscoin green. So I like The Branding but on a more serious note. Chia has about three hundred thousand dollars mined per day, and it only has a market cap of 184 million. You compare it to these other cryptocurrencies we've talked about they've got hundreds of billions, tens of billions or billions or almost a billion in market cap. This is not even 20 percent of one billion dollars for a market cap and it is producing almost as much money mined per day as Z, cash and really almost Litecoin.
So my point is the amount of money mind per day compared to the mark. Cap is very high. This is a very interesting metric for a miner to review and really Target. This means that also Chia. If it has a bright future, you'll, be getting a lot of coins.
You can stack a lot of these cheer coins if you just want to pillage. Well, that's your decision too, but remember the more every all these miners come in and pillage these coins, mine, mine, mine, sell, sell, dum, dum dump, but you're hurting the proof of work. Mining coin ecosystem, but maybe you don't want to mine with a hard drive all right? Maybe that's not for you, maybe maybe one of you you're one of those GPU guys like graphics cards. You like building rigs like this, which are pretty fun pretty cool, then maybe you'd be looking for Caspa, which sounds like the Friendly Ghost, with a little bit of an accent.
Casper is a GPU minable cryptocurrency that, depending on the day, is producing about 200 000 of coins mined per day, and, yes, you can mine it with graphics cards. Your GPU mining rig Main not be obsolete. If this cryptocurrency can, we can really get some legs and take off and maybe you're singing ravencoin ravencoin. I don't know man. I'Ve waited like six years, we're even going to do something about the point of today's video.
What'S that ravencoin on his honorable mention, you know for all the Raven Corners out there. No, I have no relationship with Casper or anything like that. I just think it's nice that there's a GPU model cryptocurrency for people that are clinging to graphics cards. I heavily moved away from GPU mining over the last few years because the writing was on the wall. That ethereum was just you know, dead, set on moving away from mining, which I really think hurts their case as being not a security, we'll see how that goes, and all the regulation incoming it's actually a very scary time for many cryptocurrencies.
But yes, mining with graphics cards. Caspa is a definite place to point your Hardware on the topic of CPU mining, a little bit of an honorable mention it's really just Monero XMR, the old Monero privacy coin. There'S not a lot of money to be had there, and you know the efficiency, it's just, not all that profitable or that interesting. A lot of botnets and server Farms casually mine Monero, when they're not in use doing other things, because why not? They have the hardware sitting there uh potentially idly fpgas.
I hate fpga mining, it's been my most least profitable mining Endeavor. Ever you can look into it and you know check it out. If you want it's very expensive, it's very hard and it's very closed. Uh Circle. Ecosystem there are rumors about Asics and fpga is coming to Casper very soon, so it could be a last hurray for mining that with graphics cards, we'll have to see on that front.
Another cryptocurrency that has committed to proof of work would be nervous Network ckb. They don't emit a lot of uh dollars per day in coins mine, but they are, you know, committed with their base protocol there, their layer, one to Mining and that's cool. Maybe something consider are mining and holding long term. Of course, up to use. You know whatever you'd like to do.
That'S all I got today. I know it's a little bit of a spitball, hey, that's what we got today. My name is going YouTube channel home to our CMR Chief mining officer. That'S gon na be tails. The cutest pupp in the world and our resident Dogecoin – I didn't get her because of those I had her before I got into cryptocurrency, so I just chalked that one up to Destiny and fate Shiba Inu are incredible dogs but they're, very particular.
Intelligent High active uh breed not recommended for people that don't absolutely love dogs and uh, maybe not first time dog owners. You know their own research I'll, see you on the next one. Thanks for watching money with me: [ Music, ]
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