For a successful start of any business, it is necessary to draw up a business plan, take into account income, expenses, profit margin, calculate the payback period of the project.
The same should be done by miners. The cryptocurrency market is developing dynamically, each coin has its own value and price, but all coins differ in terms of profit during its mining. You can never be sure that this particular coin will bring the most significant income. Many factors affect the costs of mining, namely the price of equipment and its efficiency, the price of cryptocurrency, the reward for the block and the time of block generation, the cost of electricity, the pool fee and the hashing speed.
Anyone who wants to mine cryptocurrency can calculate the approximate income using the mining calculator.
There are a couple ways of mining: GPU mining, ASIC mining or cloud mining services.
Mining calculator allows you to calculate the efficiency and profit from the mining of the Bitcoin and other cryptocurrencies, considering the investment in the mining farm, the cost of electricity (there is the possibility of accounting for the cost of night and daytime electricity tariffs), Hash-capacity, energy consumption and other indicators, parameters of the profitability of mining. In mining calculator you can calculate the profit and see how much you can earn for a day, a week, a month and a year.
So, let's look at the best and most popular mining calculators in 2021.
WhatToMine is one of the most popular services for miners, which is considered one of the best calculators. Some use it to calculate the potential profitability of mining, while others determine cryptocurrencies that do not need to be mined.
The calculator has a simple, user-friendly interface, which makes it easier to work with it. To determine the profitability of your mining installation, you need to provide the necessary data, after which the WhatToMine service combines all this data and gives you the result.
The platform supports a vast number of coins such as Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Beam (BEAM), Horizen (ZEN), Zcash (ZEC), Dash (DASH), Bytecoin (BCN), and others.
To calculate all the revenue on WhatToMine, enter your video card and select from the list of popular GPUs. Specify the number of the GPU so that the calculator shows the hashing speed. WhatToMine generates an average energy consumption, but to get more accurate data, you need to enter the cost of electricity. The service performs calculations and provides you with information about the best cryptocurrency for mining.
CryptoCompare is another great mining calculator. However, compared to WhatToMine, it has a limited number of supported coins. There are Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Monero (XMR), Zcash (ZEC), Dash (DASH), Litecoin (LTC).
CryptoCompare has many useful features. For example, it calculates the profit as a percentage and in monetary terms. What is convenient is that when you enter data, the service immediately updates the results.
The next calculator, CoinWarz, has a simple and user-friendly interface. To run it, you need to choose an algorithm, then enter hash power and electricity rates.
The program shows you a table with the best coin, revenue, profit, and other details.
On CoinWarz, you might also find a list of currently most profitable coins.
NiceHash is a cryptocurrency platform for mining and trading that was founded in 2014. This platform is a marketplace for trading hashing power. This service is for those who want to mine but cannot buy expensive hardware. It also has its mining calculator, which makes it more convenient for users.
To begin with, select the type of equipment, brand, device from the list and click the “Calculate” button. A list of devices includes ASICs, GPUs, and CPUs. NiceHash also shows more profitable hardware. The cost-efficiency of the equipment may vary depending on the volatility of the cryptocurrency market.
2CryptoCalc is considered to be an excellent alternative to the WhatToMine calculator. It is a great calculator with a comfortable interface and options for easy usage.
As well as CoinWarz, it shows the most profitable coins to mine. The data is updated every 5 minutes.
2CryptoCalc supports 26 cryptocurrencies such as Monero (XMR), Ethereum (ETH), Ethereum Classic (ETC), Beam (BEAM), Horizen (ZEN), Zcash (ZEC), Ravencoin (RVN), Grin (GRIN), and many more.
MinerStat is a remote management and monitoring software for the mining operation of any size. It was founded in late 2016 as a software-as-a-service (SaaS) platform. MinerStat offers several unique features. It makes it easier to monitor mining, switch to more profitable coins, has the functions of a backup pool, and many more. One of the advantages of this platform is its mining calculator.
Just like with the previous calculators, you need to enter data and get the result. You also may choose the currency in which you want your income to be shown.
Even though a mining calculator is a beneficial tool in income calculation, you need to provide a service with accurate data. Otherwise, the final result will not be exact. It is also worth to remember that the mining profitability calculator does not take such circumstances into account:
Besides, the expected Bitcoin earnings are calculated based on the values entered and do not consider difficulty, exchange rate fluctuations, stale/reject/orphan rate, etc. These and other factors change every day/every week and can have effects on the expected earnings.
It is never enough to use one of the best calculators to count all the expenses. It would be best if you moved with the times and always checked what is new on the market.
Onramper widget can help you to count your future mining income. Use widget to check the current exchange rate and enter it into a calculator you decided to work with.
At the same time, using the Onramper widget, you can compare real-time prices for bitcoin and other cryptocurrencies, offers of all fiat-to-crypto gateways (onramps), choose the best option with the lowest fees and buy cryptocurrency without overpayment using any convenient payment method (credit, debit card, bank transfer, Google Pay, Apple Pay, online banking, international and local payment systems).