Yes! You can mine cryptocurrency with a laptop but it doesn’t mean you should. Laptops aren’t built to mine cryptocurrency, even if you have a powerful graphics card. Although, it is possible to mine cryptocurrency with a laptop. Before I explain why you shouldn’t mine cryptocurrency with a laptop, let’s see what coins you can mine with a laptop.
What Cryptocurrency to Mine with a Laptop?
You can mine almost any coin you want if your graphics card is powerful enough. But, I assume you want to mine the most profitable one. There are 3 types of miners.
1) Those who mine for short term profit.
2) Those who HODL and sell at a higher value.
3) Those who mine to support the network.
In this article, I will address 1) and 2).
Mining Cryptocurrency with a Laptop for Short Term Profit
So, you have a laptop and want to know what is the most profitable coin to mine? Before you find the most profitable coin to mine, you must know what graphics card you have on your laptop. If you already know your graphics card, you can skip this step; or else download GPU-Z, install and open it. You will find all information about your video card and graphics processor. Take note of your graphics card and head to WhatToMine.
Click on GPU in WhatToMine and you will see a set of graphics cards. Your graphics card should be here. If your graphics card is not here, you will have to find your hash rate by other means. I will teach you how in this article.
WhatToMine has predefined values for each graphics card so you do not need to calculate it yourself. As an example, I will assume my graphics card is GTX 1080. Now I type 1 in the box next to 1080. This is how many 1080 cards I have on my laptop. For most laptops, it is 1. Now I click “1080” button to see it turn green/red (most forget this step). Scroll down, enter $/kWh in the area you live. $/kWh is the electricity cost. You can find KWh by looking at your electricity bill or with a simple google search. Finally, click the calculate button. Now you will see the most profitable coin to mine in descending order.
Finding the Hash Rate of your Graphics Card
To find the most profitable coin to mine with a laptop, you must first know the hashrate of your graphics card. You can google your graphics card’s hashrate. I found these sites useful: Miningchamp, Cryptomining24. If you have tried mining with a laptop, then you may have a rough estimate of your hash rate.
Do mind that, different hashing algorithms produce different hash rates. For example, if you are mining Zcash and gets a hash rate of 282 Hash/s, it doesn’t mean you are going to get the same hashrate when mining Ethereum. Because mining Ethereum uses Ethash algorithm and Zcash uses Equihash algorithm. To learn why you get different hash rates when mining different cryptocurrency, check out here.
After you find the hash rate, head over to WhatToMine. Enter your hash rate, power consumption rate and cost per kWh to calculate mining profitability. If your graphics card is not listed on the website, you can manually type the hash rate and the power consumption of your laptop on the hashing algorithm field.
You can find the power consumption rate of your laptop by looking at the AC adapter (charger).
WhatToMine will show you the most profitable coin to mine at the given moment. You can really use any calculator you want, WhatToMine is the one I use.
Mining Cryptocurrency with a Laptop and HODLING
Some of us miners mine for the sheer potential of the coin. If you are this type of miner, you may want to accumulate cryptocurrency as much as you can and sell at a higher price in the future. Miner of this sort is not very concerned about electricity cost or pool fees. HODL and sell is their philosophy.
Your next question may be, what cryptocurrency can 10X in the future. Since cryptocurrency is based on a lot of speculation, I’m going to speculate here. My top picks are Bitcoin, Ethereum and Monero. Bitcoin for obvious reasons, Ethereum because of projects that are already being built on Ethereum platform, and Monero because of its wide use case scenarios.
This is my subjective opinion and should be taken as such.
Why you Shouldn’t Mine Cryptocurrency with a Laptop
If you are thinking about mining cryptocurrency with a laptop, and wondering if it’s bad for your laptop, you are correct! Mining cryptocurrency with a laptop is a very bad idea. You are running your laptop at full load 24/7. It is only a matter of time until some parts of your laptop fail.
Your laptop will produce so much heat and there will not be enough room in your laptop to dissipate this heat. Overheating will eventually damage parts inside your laptop.
Your graphics card will fail earlier than you think. Pushing a graphics card to its limit and mining with it 24/7 will always result in a card failure. Graphics cards aren’t designed to handle this much stress.
Depending on the graphics card and various other factors, you may be able to mine perfectly fine for a year. But your graphics card may suddenly fail one day. Mining 24/7 with a laptop will always have adverse effects on your card. At rare occasions, it may even catch fire.
Alternative to Mining Cryptocurrency with a Laptop
Now, that you know mining cryptocurrency is bad for your laptop, your next question may be “can you mine cryptocurrency with a desktop?”. Absolutely not! Mining with a desktop will yield similar results to a laptop. However, building a mining rig with multiple graphics card can be a successful venture.
Check out this easy to follow video guide on how to build a mining rig from start to finish.
The next alternative to mining cryptocurrency with a laptop is using an ASIC (Application Specific Integrated Circuit). These are devices specifically designed from scratch to do just one task. It is to calculate hashes. An ASIC is extremely powerful and efficient than any graphics card at mining cryptocurrency. You can buy an ASIC here.
The next alternative to mining cryptocurrency with a laptop is cloud mining. This is where you pay someone else to mine cryptocurrency for you for a small fee. Genesis-mining is a very popular cloud mining service. Eobot is a similar service. Beware of scams associated with cloud mining service providers. Always read reviews and check if the service is registered.
To sum things up, mining cryptocurrency with a laptop is a very bad idea. However, mining from a laptop can be done nevertheless. You can find the most profitable coin to mine with a laptop using an online calculator. The best alternative to mining with a laptop is cloud mining, using an ASIC or building your own mining rig.