One of the reasons cryptocurrencies are popular is that there is no central authority running the system or minting the money. It is done by users. It is not only a good way to ensure a decentralized system, but it is also a great way to earn cryptocurrency tokens and earn huge profits.
Miners are paid for their efforts in the form of cryptocurrency tokens. If you can mine coins regularly, you can turn a huge profit pretty soon. But since mining is a race, you have to be the first to get the result. The mining GPU you use thus plays a big role in determining your success, which is why you should pick your mining GPU with care.
Best GPU for mining
A lot of factors play a part in determining the quality of a GPU. There are aspects of hash rate, power consumption, etc. that you have to consider before making a decision.
1) AMD Radeon RX 580
If you are looking for a GPU that ticks all the boxes, then the AMD Radeon RX 580 is one of the top candidates. With it, you get top-notch performance, reliability, a good chance of success, all at a good and affordable rate. With a hash rate of 29 MH/s, 8GB DDR5 memory, and 185W power draw, it is a GPU that packs a punch.
The best part of this mining GPU is that the device does not get very hot in a short time. This is in no small part due to the cooling system it has. The only problem with its efficiency is that it is often sold out as a result. If you’re lucky, you can get your hands on it.
2) Nvidia GeForce GTX 1070
Nvidia GeForce GTX 1070 is popular in the gaming community for its quality performance in the long run, but its usefulness is not limited to gaming. It is also one of the best mining GPUs you can find on the market today.
With a hash rate of 30 MH/s and a power consumption of 150W, it offers great computational capacity without drawing too much power. Lower power consumption always reduces your cost of mining, which only adds to your profit. The only problem though is that it is quite expensive and requires that one big first-time investment.
3) Nvidia GTX 1080 Ti
This is arguably the strongest graphics card on the market as of now. The reason it is not number one on the list is that it is quite expensive to buy and to run, but its power and performance prevent it from slipping any further down the pecking order. The Nvidia GTX 1080 Ti is the recommended choice for 4k gaming, and it is one of the best mining GPUs available.
The 11 GB GDDR5X memory and the 32 MH/s hash rate are lucrative stats, even if you are slightly discouraged by its 250W power rating. If you are running on a tight budget, then this is not your cup of tea. But if you don’t mind paying a substantial amount up front and can maintain the running cost, then you won’t find a better GPU than the Nvidia GTX 1080 Ti.
4) AMD Raedon RX Vega 56
AMD Raedon RX Vega 56 is probably the best that AMD has to offer in terms of performance. Although a little pricey to get and run, it certainly delivers. The 8GB HBM2 memory gives it some power, which makes it better at computation than the Nvidia GTX 1070. It is also a little cheaper than the Nvidia GTX 1070, but requires more power with a 210W rating and also gets hotter as you use it.
5) AMD RX 480
With the Nvidia GTX 1080 Ti we highlighted an expensive GPU, so we now go to a low-cost GPU with the AMD RX 480. The low cost of the GPU does not mean it does not perform well. While it is older than the RX 580, it does have an 8GB DDR5 memory and provides a hash rate of 28 MH/s at 150W. You don’t have to splurge a lot to get it, and you don’t have to spend a lot to run it for a long time. The only challenge is finding it since it is not available most of the time due to high demand.
Mining is a proper business today, and like all businesses, the profits you earn depend on a lot of factors. One of these factors is the GPU you use for mining, which is why you should do some research before making a choice.