You know that Zcash is a cryptocurrency that has been talked about a lot lately. Zcash is currently (August 2019) ranked 27th among cryptocurrencies.
Mining can be a great investment, especially if you have a low electricity cost. But, apart from bitcoin, what are the most profitable cryptocurrencies to mine in 2019?
You'll definitely want to know how to mine ZCash, right? So here is an article that will give you all the information to best mine Zcash.
What is ZCash?
To quickly introduce you to ZCash, know that it is a privacy-focused cryptocurrency that offers users better control of transactions. It is even possible to say that Z-Cash is a public blockchain containing private transactions.
The CEO of ZCash came up with this idea after discovering fundamental privacy flaws in the blockchain of the most popular cryptos, such as Bitcoin or Litecoin. The Zcash project was launched at the end of 2016 and has a fixed stock of 21 million units, similar to bitcoin.
But instead of the Sha-256 algorithm, it uses the Equihash algorithm to secure its Blockchain.
Upon its launch, the coin quickly gained popularity among Cryptocurrency enthusiasts. This is mainly because it has allowed many marketers to further exercise their right to privacy. It is a significant fact to ensure that you remain confidential in your cryptocurrency holdings. With Zcash, you decide whether or not you want your transactions to be public. This is not the case with bitcoin, in which everything is traceable.
The famous ZCash Bull Run
In late 2017, in a Crypto Bull run, ZCash price peaked around $850, propelling it straight into the top 10 cryptos. currencies at that time.
Although the price subsequently fell, ZCash proved its popularity. Some time later, we saw it in major online crypto wallets such as Coinbase. This already shows the interest that the most influential people give to it.
Of course, with such a price touching $850, this inevitably led to an increase in demand for ZCash mining. This has even pushed mining hardware manufacturing companies such as Bitmain to produce ASIC hardware running the Equihash algorithm.
The strategy behind people mining Zcash is based on the fact that the crypto is relatively easy to mine. Likewise, let everyone keep in mind its incredible surge and tell themselves that they are going to mine Zcash with the aim of reselling it when it reaches new (?) heights.
→ Please note that you can obtain the different machines to mine Zcash in the online store Miner.eu which remains one of the most popular stores with MiningWholeSale.
What can you mine ZCash with?
When it comes to ZCash mining, there are only a few ASIC miners that can do it. Let's briefly examine whether it would be worth using them in the current market environment.
💡 Remember that at the current price, Zcash is worth $52.
I'm talking here about the best Asics for mining Zcash today.
1/ Bitmain Antminer Z9
This was one of the best ZCash mining rigs in all likelihood. Manufactured by the most famous company in the industry “Bitmain”, the Equihash miner can easily deliver a maximum hash rate of 42 kol/s while consuming 950W of electricity.
This mining equipment was launched in September 2018 and remains one of the highest performing ZCash mining equipment on the market. Also, you can easily get it for around 900 euros on MiningWholeSale and launch it using ZCash operating software.
How much can you earn with the Antminer Z9?
Now I know what you're interested in is the return you can get from it. So, let's take a look at the profits that an amateur miner can get with this machine.
For this, and for all our next examples, let's take our average energy cost to be 0,12 KWh for ease of calculations, while setting the pool fee at 0.5%.
To make these calculations, nothing could be simpler. Also, be aware that for Zcash, we do not use hashing power as with other cryptocurrencies. For Zcash, we talk about Sol or Ksol per second.
There is an ideal platform to calculate your returns for Zcash. You can use the site Cryptobuddy to accurately calculate its yield.
When I go there, I come across this page and I just have to enter my information.
Using the ZCash mining calculator available from Cryptobuddy, we can therefore make a rough estimate of our profits, depending on the electricity cost of where we are.
Using Bitmain's Antminer Z9 (with 12 cents for electricity and 0.5% pool fees), one can easily make a profit of around $10 per month, provided the hash rate and difficulty of extraction remain the same.
So, I made calculations for people who, for example, are in Tunisia, Zcash miners, with a Z9 antminer can earn more than $50 at the current price.
If the price of Zcash increases and it goes, say, to double, that is a gain of more than 127 dollars per month.
Note: There is also the mini version of the Antminer Z9. It costs about $200 but you're not going to make much of a return on it. It should be considered for amateur beginners.
Are you disappointed with the performance? Well, know that the Antminer is not the most efficient but simply the cheapest equipment. Fortunately, there are other mining equipment for ZCash, notably from Innosilicon, such as the A9 ZMaster, which we will see below and which prove to be more profitable. Oh yeah!
2/ Innosilicon A9 ZMaster
This ZCash mining hardware was released in June 2018 and boasts a hash rate of 50K/sol. The machine uses only 620W of power. This means it is more efficient than the Antminer Z9 while consuming less electricity. As you know, this can have a significant impact on your return on investment (ROI).
On the other hand, the cost of this new ASIC hardware is around 1300 dollars. If you want one, it will be more difficult because it was out of stock very quickly given its performance. Today, there may be almost none on the market, given that the equipment is barely a year old.
Besides, miners also make a decent profit with this machine, so why would they sell it, hmm?
Using the ZCash mining calculator, we realize that it is much more profitable than the Antminer Z9. Let's see the calculations up close:
A miner can therefore generate around 50 dollars at the current price, just with this machine. Additionally, if you live in a country where the average cost of electricity is $0,05, such as Africa or Latin America, you can earn more than $100.
Yes, yes, I know what you're saying to yourself! That's all? Buy a mining machine for $1300 and receive only $50 per month. It's not worth the cost! But, in fact, always keep in mind that those who mine Zcash do so because they are betting on its price rising.
If you now earn $50 per month (i.e. 1.62 ZCash), if the price is multiplied by 3 and goes to 300 dollars, then it is no longer $50 that you earn per month but $300.
Everything will depend on your long-term strategy and your intuition about mining Zcash.
Otherwise, if you are looking to maximize your profits, there is a Zcash mining machine that is much more efficient.
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View the Innosilicon A9
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3/ Innosilicon A9++ ZMaster
Many ZCash mining machines could already attract your attention. That said, I know very well that we are looking for the best crypto to mine in terms of profitability.
So know that I haven't yet told you about a mega Equihash miner – the famous Innosilicon, which can really tip the scales. This is the superior version to the one we just saw.
Bitmain and Innosilicon are two competing companies and are making considerable efforts to dominate and maintain the market share in the mining industry.
Both have launched new Z-Cash mining hardware that outperforms anything previously available.
InnosiliconA9++ ZMaster was released just a few months ago, May 2019 to be precise. This hardware ASIC offers 140 K/ground. Furthermore, the price of this hardware will be around $2 and will require a 000W power supply.
To continue with our profitability calculations, you can earn $150 per month with the Innosilicon by paying 0.12 cents for electricity. If you pay less for electricity, well, you earn more.
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View the Innosilicon A9++ ZMaster
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4/ Antminer Z11 from Bitmain
The Antminer Z11 is really very new too. The machine was available for sale, towards the end of April 2019. This machine provided a whopping hash rate of 135 K/Sols while consuming 1420W of power.
In terms of performance, it remains very close to the Innosilicon A9++Master.
But let's quickly switch to our ZCash mining calculator and see how much we can earn using this Antminer.
By selecting the required fields and assuming the same electricity cost and pool fees, an average investor would easily make a profit of around $140 per month.
And I suppose it's likely that this equipment will run out of stock quickly. But, you can still find it on the site MiningWholeSale.
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View the Antminer Z11
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Good reasons to mine Zcash today
- The Zcash crypto is easily exchanged for bitcoins (BTC).
- Since BTC can easily be exchanged for dollars/euros, mining ZEC can be a good way to indirectly fill your bank account or make money.
- ZEC can also be sold directly on many platforms.
- Mining can be done without much investment and at a low price for Zcash markets.
- Since ZEC entered the market, it has been one of the most expensive altcoins on the market, peaking as high as $800 in 2017.
- Zcash mining can also be done with graphics cards.
- Devices for mining Zcash (and therefore the equihash algorithm) also allow you to mine other interesting cryptocurrencies.
- Finally, building a large position in ZEC through mining can allow you to take advantage of price appreciation in the future with less risk than if you only purchased ZEC.
Conclusion on the profit to be made by mining Zcash
Due to the limited saturation around ZCash, the cryptocurrency appears to still be very profitable in the coming times. There are only a few ASIC machines on the market using the Equihash algorithm, which ultimately makes it a strength.
It is likely that once the price of ZCash starts to rise, many investors will start mining Zcash, which will increase the total hash rate of the network and therefore increase the difficulty of mining.
Right now, investing in ZCash mining seems to be one of the most interesting options for those who want to mine without much complication. If you are new to the mining industry or struggling to make money from your current mining equipment, try ZCash, it is definitely the right crypto to mine in terms of hardware yield/investment.
Disclaimer:
Please note that this is a purely informative post. All measurements and calculations above are done by setting the price of ZCash at $53. The network hash rate at the time of calculation was 2 KH/s and the overall bounty was set at 598 ZEC.
The impact of future block rate changes and mining difficulty was not taken into account during the measurements. Additional electricity charges and pool fees may change over time. If any of the above estimates change, ZoneBitcoin is not responsible.
