What to mine with my mobile?
We recomend you not to blindly mine the currently most profitable currency. There are some things you should check when looking for the right currency to mine.
Community and Roadmap
You don’t want to mine a dead coin. You should first check social media (and their GitHub project too) for activity. Are they solving recent issues? are there recent releases? If last GitHub commit was two years ago it´s better to look for another currency.
You should look for a clear roadmap and unique ideas. This is what makes a currency valuable in the future, which is important if your strategy is to hold mined coins. You should also check if past milestones and promises were met.
ASICs should not be tolerated
CryptoNight algorithm isn’t ASICs resistant. In the other hand ASICs are not flexible to algorithm changes and adopting ASICs to a new algorithm variant takes time and money. That is the reason many currencies hard forked to another algorithm variants like CryptoNight v1. Because of their massive hashing power ASICs will lower your reward.
Since only a few companies are able to build an ASIC, they are also able to control the network, which in turn makes it vulnerable to all kind of attacks. Decentralization is the whole point of cryptocurrencies so lets keep is that way.
Overall you should look for currencies that cares about decentralization and proved that they are able and willing to hard fork.
Trading and Liquidity
The daily trading volume is very important if you want to convert your hard earned coins to other currencies like Bitcoin or Ethereum or convert it to FIAT money. If the volume is too low, you won’t be able to exchange coins without a price drop.
Low Diff Ports and Pools
A pool is where you join other miners to mine a coin and share the profits. If you have a pool in mind you should check that the coin is supported and that there is a low diff port available for mobile mining, you can ask your pool admin to open one port with low diff for you to use it in case there isn´t one but you still want mine in that pool.
Download Tony Monero and happy mobile mining everyone!
Please note: This post is mostly based on https://minecryptonight.net/how-to-mine#the-right-currency all credits to the author. minecryptonight.net is a useful website for CryptoNight based coins miners with a lot of info and tools, we recommend you to visit them.