Is It Profitable for Bitcoin Miners to Mine Dash, Litecoin and Zcash?

Beside the popular Bitcoin cryptocurrency, there are many other alternatives that are now available for miners in the world of cryptocurrencies. Whether it is worthwhile to invest your time and efforts into mining these new altcoins depends on whether you feel that these are likely to remain and expand. So, just as it is for any other investment that you may make, you should ideally start off by making small purchases. Either you could buy these altcoins for low prices through an exchange or you could use specially-designed mining machines for mining these coins.

When you are considering whether it is profitable to mine coins other than the Bitcoin Mining, you must ensure that the ones you are selecting will increase in value. So, when these are relatively easy to mine and also inexpensive, it is indeed lucrative to mine them because you will end up making profits.

The Bitcoin, one must understand, has a well established base of customers and it is likely to stick around for many more years to come. It has always been regarded as the standard and ever since its launch, it has been rock solid. While there have been some issues from time to time, these appear to be largely resolvable. Since it still churns out profits steadily, it would be a blunder to try and destroy it if you have already invested in its ecosystem. At the same time there are some solid reasons to invest in other cryptocurrencies like the Litecoin, Dash and Zcash.

Why you should invest in Dash: Dash is similar to the Bitcoin in terms of codes and it also divides the profits amongst miners, infrastructure team and node operators. While the node operators and miners get 45% of the profit each, the infrastructure team gets 10%. Their payouts are mainly dependent on the nature of projects and the percentage of payout will be voted for by the node operators. It is capable of extending Bitcoins rapidly and it ensures privacy through mixing coins using the Masternodes. Their infrastructure teams work on PR; they have created many payment tools. There are wallets for all the platforms and scope for continuous improvement. Dash is popular because of its ease of use, faster transactions and better privacy. The Dash community is large and it works together; their programmers are highly skilled and they are supported by quality developers and volunteers. There are many node operators and ASIC miners available. So, all in all, Dash is slated to grow bigger and it is preferred more because of low power usage. So, the amount you can gain in terms of electricity is much more than any other altcoins can provide you with.

Why you should invest in Litecoin: Litecoin has also been around for quite a while, but it is distinct from the Bitcoin. It is supported by a big miner’s community and is expected to make a comeback. It ensures faster block times so that more coins are issued. There are wallets for all platforms and even mobile devices and their codes are actively developed. You can benefit from the ASIC-based Litecoin miners but it does not have as many node operators as the Bitcoin. Litecoin also gets accepted in most places which accept Bitcoin.

Reasons to invest in Zcash: The Zcash cryptocurrency is very similar to the Bitcoin but it uses a different crypto. The Zcash is relatively new and it offers advanced crypto that can guarantee total anonymity. The Zcash is also likely to increase in value and developers get rewards to the tune of 20% of the mined coins during the first four years. Zcash transactions involve more computational intensity and these can only be carried out in computers which have very string CPUs. The key reason why Zcash is so popular is because of the privacy factor. Their code works continuously for further improvements. Zcash is supported by a strong community and core development team. There are many GPU miners for mining this cryptocurrency and it offers exchange support and hardware wallet support. The clientele is still limited but is likely to grow.

So, to conclude, while the Bitcoin is a good investment, there are these altcoins discussed above which may also turn out to be good investments in the long run. These are continuously being developed and new features are getting added. Before buying these altcoins, it is important to review their features and prices. You need to check for their current mining profitability to invest in them. If you plan on mining them so that you can exchange these for Bitcoins at once, then you may not care so much about the features. There are some cryptocurrencies that are actually purported to increase faster in value than Bitcoin.

At the same time you will find critics who feel that all other altcoins will eventually fade and Bitcoin will stay on. But, research and testing proves otherwise. These conflicting opinions are not important where miners and developers are concerned because they know exactly what is happening. They have invested their time, brains and money into such cryptocurrencies and they are well aware of the risks and the possibilities for growth.

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