As an effective miner you should switch mining of altcoins in terms of best increase prediction of the coin. If we would decide to mine some kind of unknown altcoin, how should we exchange it, if our wallet (Ledger) doesn't support it.
Cryptocurrencies are essentially ecosystems. In order for one to exist, it takes a series of coexisting components and faithful users. Wallets, miners, supply, demand, value, and so forth all have to come together and sustainably exist with each other. While mining new and exciting crypto-currencies could return larger profits, they're also more likely to implode. It really comes down to how aggressive you want to be. If you have reason to believe that a certain crypto-currency will succeed, you should mine some of it. However, if you're looking for sustainable and somewhat predictable profits, utilizing a more established market makes sense.
How does it work? Should I find a wallet which supports it, or can we mine this unknown altcoin directly to market such as coinbase or gdax and exchange it for Etherum or Bitcoin?
Typically speaking, markets such as CoinBase / Gdax will only support the large currencies. You'd have to rely on smaller alt-coin exchanges. Some of them might accept fiat <-> crypto, but a lot of them are crypto <-> crypto. You could always mine a cryptocurrency, exchange it for a popular currency like Ethereum, and exchange that on Coinbase / GDAX.
I hope this helps! Let me know if you have any more questions.
-Miningstore.co
