Which 5 Cryptos Are The Worst Culprits In Climate Change?

For millions, cryptocurrencies are the widespread answer to delinking the issuing of currency from government. Using computer code, you can create you own digital cash.

But as with anything involving technology, there’s a significant price to be paid. “Mining” cryptos using “server farms” use massive amounts of electricity. In most places, producing that power releases untold tons of carbon dioxide, the main culprit behind global warming and violent weather.

“A greater spotlight is being shone on the climate impact of crypto trading, as many investors are wary of the sustainability of the sector and how well it will be able to adapt to any new regulations on CO2 emissions,” according to forexsuggest.com.

Which cryptocurrencies are the biggest offenders when it comes to emissions and how many trees would need to be planted to offset these yearly CO2 emissions? Here’s the short list: Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Cardano.

I know this presents a conflict for crypto investors. If you care about the earth and climate change, should you be supporting a currency that contributes to a global crisis?

Consider this question: What would it take to offset the CO2 emissions from mining just one currency?

For example, “Bitcoin used by far the most energy of any cryptocurrency in 2020, producing as much as 59.9 million tons of CO2 in just twelve months. In order to offset this gargantuan figure, 299.6 million trees would’ve needed to be planted. This makes Bitcoin an incredibly unsustainable cryptocurrency that will need to reform the way it functions in order to adapt to a low-carbon world.”

I’m not against the use of cryptocurrencies. They have a place in modern finance, although I’m not sure what that is yet. They certainly need some regulation to ensure investors are protected and criminals can’t scam people.

As an environmental advocate, though, I know we need to find a way to plant more trees, restore wetlands and prairies and de-carbonize buildings, transportation, manufacturing and agriculture. If crypto miners can get us toward that global goal, let’s keep digging for a better solution.