As known from:
CoinWireICOBenchCoinCodex
Write a Review
Write a Review
Nothing Found
Contains commercial content
TradersBest.com / Best Crypto Mining Platforms USA 2024

Best Crypto Mining Platforms USA 2024

Last Updated on 13/07/2024

​As a crypto miner, you aim to provide a bookkeeping service for your chosen coin network. Your computer works around the clock verifying transactions and performing specialist tasks required to uncover and obtain a fraction of your chosen coin.

These special mathematical tasks are called “Proof of work” and are designed to allow for fair distribution of rewards amongst all the crypto miners. Here, we will touch on the different types of mining, uncover the profitability of mining and advise on the best 2024 crypto mining platforms in the US.

Read More
Top Brands
Coinbase
4.8/5
eToro
4.6/5
Kraken
4.3/5
TradeStation
3.9/5
SogoTrade
4.0/5

Compare the Best Crypto Brokers in the USA

Coinbase
Recommended
Favicon
4.8/5
  • Massive choice of cryptocurrencies
  • A trusted and secure brokerage
  • Great for new and experienced traders
Minimum Deposit
10.00€
Deposit Protection
20,000.00€
Amount of Currencies
34
BTC/USD Spread
25
Visit Site
T&Cs apply, 18+
Payment Methods
PayPal
Bank Transfer
Visa
+
Accepts Customers from
USA
USA
License
SIPC - Securities Investor Protection Corporation (USA - not governmental)
Show less
eToro
Hot Offer
Favicon
4.6/5
  • Start trading crypto with as little as $100
  • Social Trading tools available
  • 24/7 customer support
Minimum Deposit
$100.00
Deposit Protection
$20,000.00
Amount of Currencies
94
BTC/USD Spread
1 %
Visit Site
Payment Methods
Bank Transfer
Neteller
Skrill
+
Accepts Customers from
USA
USA
Apps
License
MSB - Money Services Business (USA)
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.
Show less
Kraken
Hot Offer
Favicon
4.3/5
  • Tailored trading experiences for experience level
  • A huge range of cryptocurrencies to trade
  • A secure and reliable brokerage
Minimum Deposit
10.00€
Deposit Protection
20,000.00€
Amount of Currencies
47
BTC/USD Spread
0,75 %
Visit Site
T&Cs apply, 18+
Payment Methods
Bank Transfer
Accepts Customers from
USA
USA
License
MSB - Money Services Business (USA)
Show less
TradeStation
4.
Favicon
  • Variety of crypto coins
  • Generous promotional offer
  • Extensive market data feed
Minimum Deposit
$2,000.00
Deposit Protection
$24,500,000.00
Amount of Currencies
5
BTC/USD Spread
25
T&Cs apply, 18+
Payment Methods
Bank Transfer
Accepts Customers from
USA
USA
License
FINRA - U.S. Financial Industry Regulatory Authority
Show More
SogoTrade
5.
Favicon
  • Crypto trading available in 45 US states
  • $1 trading fees
  • Trade BTC, BCH, ETH & LTC
Minimum Deposit
$0.00
Deposit Protection
$500,000.00
Amount of Currencies
4
BTC/USD Spread
1 %
T&Cs apply, 18+
Accepts Customers from
USA
USA
License
FINRA - U.S. Financial Industry Regulatory Authority
Show More
Interactive Brokers
6.
Favicon
  • Great trading tools and resources available
  • Great customer service
  • Mobile trading app available
Minimum Deposit
$10,000.00
Deposit Protection
$500,000.00
Amount of Currencies
4
BTC/USD Spread
0,1
Payment Methods
Bank Transfer
Visa
Mastercard
Accepts Customers from
USA
USA
License
SEC - U.S. Securities and Exchange Commission
The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed Income can be substantial.
Show More
Robinhood
7.
Favicon
  • Trade all major cryptocurrencies
  • Commission-free crypto trading
  • Sleek and user-friendly trading app
Minimum Deposit
500.00€
Deposit Protection
20,000.00€
Amount of Currencies
7
BTC/USD Spread
20
Accepts Customers from
USA
USA
License
FINRA - U.S. Financial Industry Regulatory Authority
All investments involve risks, including the possible loss of capital.
Show More
SoFi
8.
Favicon
  • No minimum deposit
  • Good crypto bonus offer
  • Low commission rate
Minimum Deposit
$0.00
Deposit Protection
$500,000.00
Amount of Currencies
3
BTC/USD Spread
1,25 %
T&Cs apply, 18+
Payment Methods
Bank Transfer
Accepts Customers from
USA
USA
License
SEC - U.S. Securities and Exchange Commission
Show More

What Is Cryptocurrency Mining?

A crypto miner can earn their chosen asset by using their computer, rather than crypto trading through a crypto exchange.

Mining is a process of confirming and authenticating any new transactions to the blockchain. The process itself involves completing complicated mathematical problems with cryptographic hash functions associated with a block of transactional data. Once you have completed 1MB worth of transactions, also known as a block, you will be rewarded with your chosen asset.

In simple terms, if your computer successfully helps towards the mining of a coin, you will receive your reward.

However, due to the ever-growing demand and popularity of cryptocurrencies, it was only a matter of time before faster and stronger hardware was also needed. The increased performance of hardware comes with an inflated price, making it difficult for lone miners to reap as many benefits.

Mining is still a legitimate money-making option for those interested. If the initial start-up cost is putting you off, please have a look further down in our 2024 crypto broker reviews, as we discuss the costs and effectiveness of hardware and cloud mining in more detail.

Our Top Steps for Safe & Secure Crypto Mining in 2024

First, you will need to purchase, or rent (discussed later), a mining rig. This hardware is imperative to turn your cash-on-the-side into a second-income. Some of the most powerful machines in the world can have as many as 1012 attempts at solving a block, per second – so choose wisely!

Once you have selected your hardware, we recommend putting your machine into a professional data centre. The fees that come with this are far more reasonable than trying to run the machine from home.

If you haven’t already by now, open an online crypto wallet or buy a hardware wallet for some extra security. Your online wallet works just as an everyday wallet would and is where you will store all of your mined assets. You will have a public key, which is used as an address to receive crypto and a private key, used as a means to send crypto. Be sure to keep your private key safe.

A single machine will not be as effective as a pool of miners, so be sure to join a mining pool if you are after steady, consistent returns. We discuss later in this crypto mining 2024 review the best pools/platforms in the current market.

Almost there! With the acquisition of your hardware, a new wallet, and a new group of mining pals it is time to download software (if your pool does not have this function built-in) to run on your computer. This software connects you to the blockchain, monitors your activity and shows your current temperature, hash rate, mining speed etc.

Once all of these steps have been followed, and you’ve linked your crypto wallet to your mining pool account, or software account, you are ready to mine!

Hardware Mining

Purchasing your own hardware is the best way to ensure you keep all profits, minus platform fees, from any successful mining activity. Depending on your intent, mining can be done on your home laptop. However, if you are looking at this as a second income, then the initial setup of a more intricate mining system will be needed.

The most profitable systems make between $6 and $15 a day. Before you spend your money on a hardware mining setup, we recommend using a mining calculator to discover if it is worth the returns.

The four main categories of Hardware mining are:

CPU Mining

It is possible to use your own computer to mine cryptocurrency. However, due to the development of new hardware, it is now deemed a waste of time and is used by much fewer people. The main reason for this is speed, CPU crypto mining is slow, you may go several months without seeing any profit at all and could quite easily end up spending over ten times the amount on electricity and cooling.

GPU Mining

GPU mining is particularly popular due to being so efficient and relatively cheap to set up. GPU rigs use graphics cards to mine cryptocurrencies, and a standard set up could see anywhere between 2-8 of these graphic cards used (as well as the obvious processor, motherboard, cooling and rig frame). The average cost is around $3000, which is why you will often find cloud miners (discussed below) with warehouses full, ready and waiting to be linked to your account.

FPGA Mining

The Field Programmable Gate Array (FPGA) can be precisely programmed and reprogrammed for a desired application/function, for example, mining Litecoin. Consuming far less power and performing much quicker than the CPU and GPU, the FPGAs only downsides are the cost and the time it takes to reprogram the device.

ASIC Mining

As the name suggests, Application-Specific Integrated Circuits are designed to perform a single specific task, crypto mining. With relatively low power consumption, ASICs generate a phenomenal amount of cryptocurrency compared to the CPU & GPU. They also cost a remarkable amount, when compared to the CPU & GPU, as the specificity of the chips becomes time-consuming to produce.

They are often met with controversy due to making the CPU & GPU approach almost redundant.

A single miner, with an ASIC crypto mining farm, could rob 100s of CPU & GPU user’s chances of mining successfully.

Cloud Mining

Cloud mining is the process of mining Bitcoins, and other assets, by using a remote data centre with shared processing power. A cloud company will purchase the physical mining hardware and will make money back by renting them out to miners who do not have the facility to host hardware themselves.

A cloud crypto mining company will set up a mining rig and maintain the facility. A cloud miner will register and purchase contracts from the mining company. The mining company will then allocate its hardware to your account, and any profits generated by the rig will be transferred directly to your crypto wallet (minus fees). Cloud mining companies will make their money from initial rental fees, taking a percentage of any rig profits, maintenance and electricity costs.

The three main forms of Cloud mining are:

Physical Mining Server

Physical Mining server, simply known as Hosted Mining, is a type of cloud crypto mining based on an agreement between yourself and the cloud mining provider to lease their equipment. Once you have agreed on the time period, you have the option to physically receive the machine for this duration, or you can opt for the provider to store it for you with the company itself.

Virtual Private Server Mining

Unlike Hosted mining, you will not be leasing mining hardware with this approach. Instead, you will install your mining software on the cloud mining provider’s machine. This process is best suited for smaller alt-coins which are predominantly mined with CPU (mentioned earlier).

Leased Hashing Power

The simplest, and most popular, approach to Cloud crypto mining is leased hashing power. Hashing power can be purchased from a cloud mining service provider, with no need to install any software or lease a machine from any crypto mining companies!

Editor’s Recommendation – The Best Crypto Mining Platforms

Now we have explained the differences, pros and cons of hardware and cloud mining; it’s time to discuss the best 2024 crypto mining platforms. These are the best platforms to pair with your latest CPU, GPU or ASIC hardware purchase, to ensure you are getting the best returns for all of your hard work… & money!

These platforms aim to deliver work to the miners, ensure the mining speed, current temperature and hash rate are at a sufficient and productive level, as well as collecting any rewards. So, which ones do this best?

Genesis

Genesis crypto mining platform has been operating since 2013 and is one of the oldest mining service providers to date. They offer their service to over 2 million customers spanning over 100 countries and own several crypto mining farms located in Europe, America & Asia. They offer Custom, Gold, Platinum & Diamond contracts with varying prices progressively offering higher returns, for a higher initial outlay.

f2pool

Initially launched in Beijing, f2pool is now available in the US, Canada and more. F2pool is currently the second-largest Bitcoin mining pool on the market and has options for users to mine over 40 different cryptocurrencies, including Litecoin and Zcash. Their Fees are slightly higher than most platforms out there (4%); however, you receive regular pay-outs, and their threshold is relatively low.

Poolin

Started by the founders of BTC.com, Poolin is open to crypto miners all over the world. As a bonus income, when you mine Bitcoin, BCH, or BSV in ‘merged mining mode’, you will also receive pay-outs in Vcash, Namecoin & Dogecoin. Poolin has created a simple platform that enables new miners to understand and benefit from the crypto world.

Antpool

Antpool is free to join and has a simple sign-up process. The platform holds roughly 15% of the total hash rate of all Bitcoin mining pools and is run by the world’s largest Bitcoin mining hardware manufacturer, Bitmain Technologies Ltd. Although Antpool does not charge fees, it also does not disclose the collected BTC transaction fees.

Slush Pool

Originally named “Bitcoin Pooled Mining Server”, Slush Pool has been on the market since 2010, and their users have mined well over 1 million Bitcoins in that time. The platform itself is straightforward to use and accommodates miners from all knowledge backgrounds. A nice perk to Slush Pool is the reward scheme, offering awards to some of its most active users.

Mining platforms are desirable for the average miner. They allow for consistent pay-outs & predictable rewards, unlike the volatility of market trading.

Finding the right crypto mining set-up for you

The best way to keep your crypto mining profitability up, there is a precise checklist you need to adhere to:

  •  Purchase an ASIC mining hardware
  •  Join the right mining pool
  •  Download the correct software and keep your hash rates & temperature in an optimum zone
  •  Find a reputable data centre, or find a way to keep your electricity and cooling prices down
  •  Have the initial funding to make all of these previous steps possible

Conclusion – Is Crypto Mining Profitable?

Honestly, we are on the fence with this one as it really depends on your current circumstance and what asset you are looking to mine.

As research and development continue to push mining equipment speeds and functions beyond comprehension, we can see crypto mining profitability drop and the need for CPU, GPU and any form of lone-mining, become nothing but a waste of time and money when mining the larger cryptocurrencies. However, if you are looking for the next big thing, whilst still wishing to keep your prices low when you buy cryptocurrency online, then a CPU lone-ranger may well be the way to go.

Top Forex Sites
Ally Invest
Ally Invest
Ally Invest Review
4.8/5
Webull
Webull
Webull Review
4.6/5
Kraken
Kraken
Kraken Review
4.3/5
Nadex
Nadex Review
3.6/5
Interactive Brokers
Interactive Brokers Review
4.8/5
Latest News
Study: how do finances shape our love life?
Do we find someone less attractive if they're ...
Is FTX Bankrupt? 
The crypto market has seen a drastic change ...
Disney Shares Jump 6% After Positive Earnings Report
A booming subscriber base and the return of ...
Alibaba Posts Flat Revenue Growth But Stock Still Jumps 6%
Chinese ecommerce giant Alibaba posted its first earnings ...
Intel Stock Slumps Over 8% Following Weak Earnings Report
Chip-maker Intel suffered a disastrous end to last ...
Receive the latest trading news by email + our free eBook
Crypto eBook EN
Nobody is born a trading expert. Register now to receive the Ultimate Guide to Trading Cryptocurrencies in 2022 (and beyond), and receive the TradersBest.com newsletter with the latest market news and broker reviews!.

By registering, I agree that TradersBest.com may send me newsletters via email at regular intervals. This consent can be revoked at any time.
Receive the latest trading news by email + our free eBook
Nobody is born a trading expert. Register now to receive the Ultimate Guide to Trading Cryptocurrencies in 2022 (and beyond), and receive the TradersBest.com newsletter with the latest market news and broker reviews!.

By registering, I agree that TradersBest.com may send me newsletters via email at regular intervals. This consent can be revoked at any time.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

21+NCPGGamblers AnonymousCloudflareSSL
Close
Unlock the Market’s Potential! Discover Our Top Trading Platform Deals.
eToro
eToro
eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation
Go to eToro
Coinbase
Coinbase
T&Cs apply, 18+
Go to Coinbase
×
Your Promo Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site