The closer you are to the pool servers, the better your mining performance will be. One of the reasons for choosing to mine through a pool is the steady payments at regular intervals, and if these intervals are kept shorter, that’s better too. Litecoin is an altcoin that was created in 2011 by Charlie Lee as a faster alternative to Bitcoin. Where Bitcoin blocks are verified roughly every 10 minutes, Litecoin blocks are verified every 2.5 minutes, making the network four times as fast. Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology.
- If you have your own hardware, you just need to create an account and start mining.
- The average commission is from 0.04 to 4%, and the minimum payout is 0.1 ETH, 0.001 BTC, 0.01 LTC, and 0.1 ZEC.
- Well, most of the below-listed criteria points are rooted in basic common sense, like fees , pool reputation, and uptime.
- This is a relatively good rate because most of the other pools take 2%-3%.
- The website utilizes PPS payment method with 4% fees on transactions.
At viaBTC you can choose a PPS payment method, or they also offer pay-per-last-n-shares , which is a very popular payment scheme at mining pools. Either way, there are no transaction fees, and miners are only responsible to pay a small maintenance fee of 4% for PPS payments and 2% for PPLNS payments. The higher the price, and the better the mining hardware, the more profitable it will be to mine LTC. With increasing competition, the price for profitable Litecoin mining equipment has increased considerably. As large mining farms drive up demand and dominate the mining space, mining rigs have had to become more powerful, which in turn increases the price. While some ASIC miners can start from US$500, a professionally built mining rig can BTC cost upwards of US$15,000.
# Cudo Miner
Because of that registrations were closed for several months, and since then it has required approval to get accepted to the best scrypt poolPool.org pool. The pool was also the first to offer secure mining over TLS-encrypted Stratum connections, protecting miners from potential man-in-the-middle attacks. And finally you’ll want to look for a mining pool that’s close to you geographically. You don’t want a pool with servers in China if you’re mining in New York.
1309 Blocks added to the #Mateable pool party🥳
Get the best ping with using the nearest stratums
no.🇳🇴 br.🇧🇷 sg.🇸🇬 au.🇦🇺 fr.🇫🇷 gb.🇬🇧 in.🇮🇳 us.🇺🇸 pic.twitter.com/QrOQS3Ypkq
— Mining4People (@Mining4People) September 6, 2022
BitMaintech continues to grow and its Antpool project remains one of the leaders amongst mining sites. The platform provides a high-quality and user-friendly service and is suitable for users from different countries. Before we start, let’s discuss a few important aspects of choosing a Litecoin mining pool. Once the pool finds a block, all contributors are paid directly, according to their shareholding as reflected in the sharechain. Payment is issued by the sharechain and without third party involvement.
Litecoin (LTC)Mining Pools
Litecoin is a peer-to-peer decentralized cryptocurrency. It is gaining popularity in the crypto market as it is free from censorship and open to all users. The price of Litecoin is also expected to rise in the future, resulting in profits for the LTC miners.
Below I’ll take a closer look at several popular Litecoin mining pools, as well as discussing the P2Pool option for mining. Beyond that is a short discussion regarding the recent addition of ASIC Litecoin mining hardware, and what that can mean for Litecoin miners. Additional hashrate you would provide the pools with, would only cement their power and make Litecoin network suspect to a 51% attack by these three pools.
It can automatically deposit your earned mined coins to the balance. As we can see from the charts, the first time the Litecoin hashrate really gained traction was in mid-2017. Another reason that mining Litecoin could be worth it is if you have access to cheap mining rigs. It’s important to factor in equipment costs since mining gear becomes outdated and inefficient so quickly. If you live somewhere with especially cheap electricity then Litecoin mining could definitely be worth it. Electricity costs are one of the main reasons why so much mining happens in China, where there is an abundance of cheap hydropower.
https://www.beaxy.com/.com sits at the 8th spot of the Litecoin pool rankings. One of the main reasons to pick this pool is due to its eight servers spread all over the world. Similar to proportional, but instead of looking at the number of shares in the round, instead looks at the last N shares, regardless of round boundaries. Like Pay Per Share, but never pays more than the pool earns. Unless you have a lot of computing power , you should probably mine in a pool.
What is Litecoin (LTC)?
They offer other detailed statistics such as best scrypt pool efficiency, ETH miners count, hash rate, etc. For anyone who owns a Scrypt miner, this is one pool that is recommended, the ability for payout in any cryptocurrency or even USD via Coinbase is excellent. It is definitely the best Litecoin mining pool in 2018. Previous services are mostly multiple and support many cryptocurrencies.
What is the most efficient Scrypt miner?
Bitmain AntMiner L3+
The L3 provides a hash rate of 504 MH/s, with a power consumption of 800W. Running a higher hash rate with the L3+ results in serious power draw, but the lower price point of the device compared to more expensive models such as the Innosilicon LTCMaster makes the L3+ the best miner for Scrypt.
The physicist has couple of years of professional experience as project manager and technological consultant. It is currently the 4th largest LTC pool by hashrate, producing 32.6 TH/s of hashes. Fees are self-explanatory; the lower the fees a pool charges for itself, the more money is left for you. Industry-standard is around 1% so anything around that figure is basically the norm. By doing so, Lee enhanced the Litecoin transaction speed, and now Litecoin is capable of facilitating payments around 4x as fast . If you mine LTC, you will receive DOGE rewards based on PPLNS mining scheme.
Another popular mining pool was established in 2014 is Antpool. This pool also operates in China and allows you to extract more than a few cryptocurrencies, including BTC, BCH, LTC, ETH, ETC, ZEC, DASH, SC, XMC & BTM. This mining pool is the fifth LTC pool in terms of hash power. In this case, the payment method is proportional, except that instead of examining the number of shares, the last N shares of each resource are considered. This is a relatively good rate because most of the other pools take 2%-3%.
What is the most profitable liquidity pool?
Bancor is one of the top liquidity pools, especially for employing BNT to simplify data transfer between various blockchain networks with ETH and EOS blockchain networks. As compared to a fixed exchanging fee, Bancor charges 0.1% to 0.5% of the transaction, according to the pool.
It allows users to mine Litecoin and other SHA-256, Equihash, and x11 coins. It should be noted that ProHashing allows you to mine automatically, which increases the profitability of mining. As the name infers, viaBTC is a mining pool with a few digital forms of money, which started its activities as a Bitcoin pool in June 2016. Because of the lower prices the difficulty of mining is currently lower, and the cost of the mining hardware is also lower. If Litecoin recovers back to late 2017 prices by the end of 2018 you could be sitting on a valuable stash of coins.
Litecoinpool.org is incomparably better for Litecoin miners. View the best cryptocurrency mining pools for you favorite coins like Bitcoin, Ethereum, Monero, Zcash. ViaBTC interfaceViaBTC is one of the highest-rated Litecoin mining pools worldwide. In addition to Litecoin, the pool supports mining of Bitcoin, Ethereum, Bitcoin Cash, Dash, and Zcash.
Evaluate the power of your PC and see if it fits the pool requirements. Even though mining Litecoin is a lot like mining Bitcoin, there are a few key differences. ✅ Litecoin can be efficiently mined with ASIC mining machines. ❌ Litecoin cannot be efficiently mined with CPU or GPU cards.
That APY is temporary…as is the Xboo – BOO pool since thats what they use. Honestly the reaper crypt that maximizes the xboo partner farms is really the best thing going.
— Blockbytes (@blockbytescom) March 18, 2022
In order to start mining, you need to create an account on the Coinotron website and follow the instructions. The site, by the way, provides statistics of the most powerful miners and the latest confirmed blocks for every available to mine cryptocurrency. If you want to mine Litecoin, it will require investments in hardware, facility and many related things. In addition, it is important to pay attention to mining pools. Genesis Mining is one of the best Litecoin mining software that offers cryptocurrency mining functionality.