Jonas P. DeMuro is a freelance reviewer covering wireless networking hardware. Is an active participant in the BitcoinTalk forum, promptly responding to questions about the pool. While, mining Litecoin is still profitable as of right now…

If your hash rate is over 2000kH/s, please consider P2Pool. Miners can always monitor and view the hash rates and check their earnings. Litecoin is based on the Proof-of-Work consensus hashing algorithm called the Scrypt. ViaBTC also endeavors to provide a level of transparency to its members.

How to Pick the Best Litecoin Mining Pool

It should be noted that allows you to mine automatically, which increases the profitability of mining. There are no fees for transactions in that pool, but miners need to pay a 4% fee for withdrawing. If you have your own hardware, you just need to create an account and start mining. You can also try cloud mining, but it is quite less profitable. Furthermore, viaBTC does not charge a transaction fee, but miners pay a maintenance fee of 4% for PPS payments and 2% for PPLNS payments.

Scrypt mining does not require as much resources as SHA-256, so a cryptocurrency using Scrypt can be mined with a lot of different tools. You can choose between a Scrypt mining pool, an ASIC miner built for Scrypt or even a standard CPU, GPU combination. Companies that built ASIC miners are trying to find ways to “crack” the mining algorithm for Scrypt – to be able to implement the Scrypt function. BTC.com operates a popular mining pool that is considered medium size.

F2P Pool

So, you could mine Ethereum, but get paid in Litecoin or Bitcoin if you like. You can even choose U.S. dollar payouts if you like, and unless you’re asking for very small payouts there are no payout fees at ProHashing. Instead, ProHashing aims to have a flat 4.99% fee that includes the use of all their features. Just as I suggested in my guide to Ethereum mining pools, one of the first things you’ll want to look at is the fees charged by the mining pool. The lower the fees are, the more Litecoin you get to keep for yourself, so choosing a low fee pool is an obviously good choice.

It is one of the available pools that offer a chance to profit from Bitcoin mining. The payments miners get based on their contracts are delivered daily. Overall, the pool is considered legitimate by the community even though there are split opinions on Bitmain and its business practices. Litecoin mining pools takes away the risks of solo mining.

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.

Yes, Litecoin is one of the few cryptocurrencies using PoW that you still can profitably mine in a mining pool. However, if you want to add Litecoin to your investment portfolio without mining, you can buy this cryptocurrency on LetsExchange.io. Our platform does not require registration or KYC checks to allow you to trade more than 2000 cryptocurrencies. Each miner receives shares for their contribution to these pools, as in the previous case.

Cryptocurrency Mining Pool

ProHashingThe pool stands out among its competitors with a unique payment system similar to the PPS model. The system guarantees that you can get various coins and receive payment in other, including fiat, currencies. The service does not charge a transaction fee, but users pay a fixed 4.99%. LitecoinPool is one of the most well known and most trusted mining pools of Litecoin, which was created in 2011 by one of the Litecoin developers.

Chttps://www.beaxy.com/RB – Capped Pay Per Share with Recent Backpay is a calculation that provides the maximum payout without bankrupting the pool. Fees are deducted automatically from the accounts of the miners. While you have the option to set your minimum pay-out threshold to as little as 0.001 BTC, be aware that there are additional fees for any pay-outs under 0.01 BTC.

Multipool Litecoin mining pool apart from Litecoin supports other cryptocurrencies like Dogecoin, Verge, etc. Another unique feature of Multipool is that it supports merged mining whereby you can mine more than 30 cryptocurrencies without losing any hash power. Launched in 2011, Litecoinpool is the oldest of the mining pools for Litecoin and in 2012, it contributed about 40% of the total hash power.

Plus, with the PPS system, you are paid even if a block gets orphaned by the Litecoin network. Just like with regular websites, if it is offline when someone visits, the owner loses money. Same with mining pool servers – if they are offline, all miners in the pool lose money as nothing gets broadcasted to the blockchain. Litecoin mining is the processing of a block of XRP transactions into the Litecoin blockchain. Litecoin mining requires solving for algorithms, and being the first to reach a solution is mining rewards with tokens as payment.

• Select or click a miner to have the inputs preloaded automatically.
• Litecoin is a cryptocurrency launched on October 7, 2011.
• ViaBTC is the fifth largest Litecoin pool in the world.
• 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.
• NiceHash has evolved as one of the best cryptocurrency mining and exchange platforms in recent years.

CaptainAltcoin.com does not offer any sort of financial or investment advice. Please make sure to do your own research, make educated financial decisions and consult your Financial Advisor. Like SMPPS, but equalizes payments fairly among all those who are owed. DOGE best scrypt mining pool A]Dagger algorithm that comes as an alternative to the memory-intensive algorithms like Scrypt.

Litecoin has now been accepted as a global payment option worldwide due to its high returns and faster transaction confirmation rate compared to Bitcoins. Pool miners use different reward systems depending on the cryptocurrency they are mining. Multipool, on the other hand, can be tricky for the beginner due to a lack of customer support.