If you are looking for an opportunity to earn on crypto and do not want to get involved in crypto trading, you can try mining. Mining the most popular cryptocurrencies such as Bictoin is nowadays too expensive. Therefore, it might be too expensive to start investing in BTC mining.
However, if you try mining the coins that are not so expensive for now, you might earn some profit. And with time, when the coin value grows, you might end up becoming even if not a millionaire then at least a pretty rich person.
One of such coins that can bring you wealth is Ravencoin.
What is Ravencoin?
Ravencoin is a pretty ambitious project. It enables developers create their own coins on the RVN blockchain. The tokens also can be 100% controlled by their creators. So, if you create a token, you can control its supply, or on the contrary, you can allow the network to produce the token endlessly.
Therefore, Ravencoin mining might be a profitable option to earn on cryptocurrency.
How to mine Ravencoin?
Ravencoin had to upgrade its consensus mechanism several times to stay resistant to ASIC mining. Now, the RVN network utilizes the KawPow algorithm which enables miners to mine the coin with GPU and CPU. Even though you do not need an ASIC miner, you can hardly get any reasonable amount of RVN if you are performing your mining activities on your own. Therefore, it is better to join an efficient Ravencoin pool.
How to choose the appropriate mining pool
When selecting a pool to be getting your coins, you shall consider some factors. They are all important to create the most efficient income source from mining activities. When choosing a pool, pay attention to the following:
- Pool fees: here, you can choose based on the principle “the lower the better”. In the very end, fees will impact your final income sum.
- Minimum payout: here, again, the principle “the lower the better” works perfectly. If a pool has high payouts, you might have to wait too long to get your funds to your wallet. Some pools offer to send funds periodically, say, every day.
- Reputation of the pool is crucial for the choice. It shall be impeccable otherwise, you are risking to lose your funds.
- Uptime: the best pool is the one that works constantly. We do not recommend choosing pools that are frequently down.
Now, when you know what is needed to choose the best RVN mining pool, let us have a look at our selection. You can choose one option from the offered or look for your own one.
This pool is among the most popular among miners. The fee here is from 1 to 1,5% which is more than reasonable. The hash rate of the pool is 2.29 TH/s with the network hash rate 9.64 TH/s. The payouts are made every 24 hours.
While the hash rate here is just 2 TH/s, FlyPool is among the most favorite ones. It is because it is very easy to use, and therefore, it is a very suitable option for beginners. Its servers are located on literally all continents that makes the service available everywhere.
Nanopool can be used to mine multiple cryptocurrencies, including Ravencoin. Even though the pool is much smaller than those mentioned previously, it is worth your attention because payouts are made every day, and the service has an intuitive interface that makes it available for complete beginners, too.
The pool servers are located mostly in Europe which makes it concentrated geographically that can be regarded as a drawback. However, the pool is good, and we can recommend it especially if you are just starting with the mining activities.