7 Most Profitable Cryptocurrencies and Coins to Mine in 2017

If you have money to burn, how about investing in 7 most profitable cryptocurrencies and coins to mine in 2017? 

Maybe you’ve already been wondering about the best cryptocurrency to mine with CPU, i.e., what is the best currency to mine with your central processor, or maybe you’re not so knowledgeable about cryptocurrencies and coins, but you know a good opportunity when you see it. A recent article by Fortune tells us of a  hedge fund billionaire Michael Novogratz made a brave and risky move: he had put 10% of his net worth into digital currencies including Bitcoin and Ethereum. Ingenious or crazy? Remains to be seen. We are all very much aware of the digital age we are living in and how the boundaries are moved every day. The number of companies accepting ethereum is growing every day (read more about Mastercard and the rest in our list of companies and businesses that accept ethereum), though some would say cryptocurrencies and coins are only worth investing if you can do it on a large scale. In the meantime, let’s take a look which would be the most profitable cryptocurrency to mine in 2017.

How many cryptocurrencies are there? Experts in the field are well aware of the fact there are 1175 cryptocurrencies. The number sounds overwhelming, so if you aren’t very well familiar with them, read our article on 10 most popular cryptocurrencies in circulation today, or easiest coins to mine: cryptocurrency mining on a normal computer. Even though they are slowly taking over the world, cryptocurrencies are still somewhat of a novelty, so instead of just going to the mining profitability calculator and listing the ones with the current highest value, we were thinking long term. Consequently, we visited experts in the field: Sagipl, Steemit, A to Z Forex, 99bitcoins, and LiveBitcoinNews to see which currencies are recommended as the most reliable and profitable in 2017. Having completed the list, we eventually had to turn to a kind of a cryptocurrency mining calculator (though not specifically x11 mining calculator) to rank them from the least to the most profitable. We avoided it initially since the market fluctuations are sometimes unpredictable and it is more important how reliable a cryptocurrency is than which exact position it has at the moment. Anyway, for that purpose, we consulted Cryptonetworth and ranked them according to the market cap. Market capitalization ranking shows “a way of measuring the value of a company calculated by multiplying the number of the company’s shares by their price on the stock market.” Economic Times agrees it is one of the most determining factors in deciding whether a venture is worth investing.

What follows is the list of most profitable cryptocurrencies and coins to mine in 2017. You are going to get to know them better through our explanations. Bear in mind the market cap is a value that is being changed on a daily basis.

7. Steem

Market cap: $249.8 million

Steem is a blockchain based cryptocurrency system. Steem is actually inspired by the word esteem, but it’s not highly original. There are plenty similar currencies out there with funny and interesting names, such as Veritaserum, Feathercoin, etc. This is a reward based social media currency system and it is so far the most successful decentralized social network. Hence its potential for further development and bringing revenue. Its mining is really simple, just like voting for a post.

6. Ethereum

Market cap: $1.2 billion

We are continuing our list of most profitable cryptocurrencies and coins to mine in 2017 with Ethereum that is at the moment Bitcoins largest and most fierce competitor. However, there are two types, so this one is not as “dangerous”. Be careful this is ETH, not ETC. ETH is the original version which experienced some problems due to a hacking attack. While all the money was successfully retrieved thanks to the 28-day hold imposed on huge withdrawals, there were lots of displeased customers who turned their attention to other options.  Either way, Ethereum is a force to be dealt with since its value is still constantly rising.

5. Monero

Market cap: $1.4 billion

Monero is an open-source virtual currency, and it was first started in April 2014. It emphasizes privacy and decentralization. Therefore, its virtues are security, privacy, unable to be traced, and it is fungible, which means there are small chances of   Monero being blacklisted by exchanges or vendors because of its associations with previous transactions.

4. DASH

 Market cap: $2.3 billion

DASH cryptocurrency, or digital cash, as it is advertised, stands for one of the big players in our list of most profitable cryptocurrencies and coins to mine in 2017. DASH is a complete digital cash management platform which you can use to transfer your money anywhere in the world, i.e., you can make private payments, transactions and what is more, its fee is lower than Bitcoin’s. By the way, it was previously known as Xcoin and Darkcoin.

How to mine DASH, you may wonder? Just use x11. Interestingly, DASH was the first coin to be mined by it. x11 is an algorithm which uses 11 different algorithms which are connected in a chain. That should serve your cryptocurrency better.

3. Litecoin

Market cap: $3.3 billion

Litecoin is probably one of the best cryptocurrencies to mine with consumer-grade GPU (Graphics Processing Unit). When it was first introduced three years ago, it was known as the silver alternative to Bitcoin. One of the main differences between the two is that mining Litecoin is much cheaper.

2. Ethereum Classic

Market cap: $30.8 billion

The second place on our list of most profitable cryptocurrencies and coins to mine in 2017 goes to Ethereum Classic that is a decentralized platform, and its origins are within the original Ethereum blockchain, of course. However, this one remained to be a classic version, free from external interference so that applications can run exactly as they were programmed. There are pros and cons when it comes to comparing  Ethereum and Ethereum Classic, but we’ll leave it for some other article.

1. Bitcoin

Market cap: $94.3 billion

Bitcoin remains on the throne even in our list of most profitable cryptocurrencies and coins to mine in 2017. It was created in 2009 by someone called Satoshi Nakamoto, if that is his real name. Bitcoin isn’t centralized, and it uses special software for solving mathematical problems, which are later turned into bitcoins. Remember when we told you it should pay off to invest big money in cryptocurrencies? A family from Netherlands certainly thinks so. CNBC tells us the Dutch family has such confidence in bitcoin being the best cryptocurrency to mine in 2017, that they had sold all their belongings, including their house and cars. We’re not sure whether you should go that far, but it is definitely our best advice to put your money where your bitcoin is!