Mining is a process of generating new cryptocurrency tokens or coins. It is hardly akin to the physical mining of precious metals such as gold, silver, or platinum. Digital currency miners use computers to complete cryptographic tasks and get a reward in the form of cryptocurrency.

In the cryptocurrency industry, mining is a term that refers to the process of adding new blocks to certain blockchains. The first miner to solve a cryptographic puzzle called a hash receives cryptocurrency as a reward.

With that in mind, one of the first steps you need to take to become a miner is to find out which cryptocurrencies can be mined. The most popular coins you can mine are Bitcoin (BTC), Ethereum (ETH), Monero (XMR), and Litecoin (LTC).

However, the most profitable cryptocurrencies are now much more difficult to mine. A growing number of miners make it increasingly challenging for users to mine most of them. As a result, the largest digital assets take a decent amount of the network’s hashing power. Hashing power is the number of calculations performed by a network per second.

Some cryptocurrencies require expensive hardware to mine. Excessive demand for this equipment has led to a sharp rise in prices, thus making it harder for users to obtain it. Other cryptocurrencies may be more accessible for mining. Anyway, before investing money, it is worth devoting enough time to plan what and how you are going to mine.