Advertisements Litecoin mining, is very similar to. All you need is a CPU / GPU miner tool and subscription to a mining pool. In this article we’ll show you the easiest, fastest and best method to mine Litecoin on your own.

Jan 17, 2018 How to Mine Litecoins. Litecoin is a cryptocurrency like Bitcoin. But can mine Scrypt up to version 3.7.2.

Let’s start with a brief introduction with Litecoin., the most successful Bitcoin alternative, now has a total volume equivalent to about 38 million U.S. Litecoin is essentially based on the same software as the original Bitcoin system, they only make modifications to overcome issues with Bitcoin. Litecoin has the primary aim to be faster than Bitcoin. Litecoin uses a different hash algorithm for the creation of money and the confirmation of transactions. With Bitcoin transactions are signed every ten minutes on average, only then can one be sure payee that he has indeed received the money. Litecoin reduces this period down to about 2.5 minutes, thus making 4 times faster transactions.

Since Litecoin is a digital currency, you need to install a “Litecoin Wallet” on your PC. You can download your wallet client () for Windows / Mac / Linux. Note: The client must then synchronize all previous transactions, which may take a few hours or first. Now back to Mining stuff, in early days CPU Mining was the main source to mine bitcoin / litecoins but the rise of GPU mining made CPU mining financially unwise. Nowadays most mining software dropped CPU Mining support. Next big thing after CPU is GPU a.k.a. Your graphics card.

GPU Mining is drastically faster and more efficient than CPU mining. Following are the instructions to CPU / GPU mining of Litecoin (LTC) with your PC.

Requirements: A PC / Laptop with a decent graphics card / power supply / cooling system. Step One: Download a miner software that supports GPU mining. We recommend you, offers a graphical user interface and is very easy to use. GUIMiner scrypt supports AMD 5750 to AMD 7970 graphics card. In this tutorial we’ll use GUIMiner Scrypt. Step Two: Solo mining is not really possible in today’s Difficulty, so you should join a pool ().

We recommend you to join Coinotron. Next you need to “My Account” to create a new worker: Register your workers and note down your credentials.

Step Three: Run GUIMiner, and configure the settings as given below. • Host: coinotron.com • Port: 3334 • Username: (your worker name ) • Password: (your password for worker) • Device: Select your GPU • Extra Flag: You can leave blank • Work size: 256 • Vectors: 1 • threats: 1 Step Four: That’s it you are now mining litecoins, make sure to add your litecoin address and pay-out threshold amount in your pool account. Hi, Where do I find this GUII miner script interface shown above? As it is your link. ((Step One: Download a miner software that supports GPU mining. We recommend you GUIMiner Scrypt, offers a graphical user interface and is very easy to use. GUIMiner scrypt supports AMD 5750 to AMD 7970 graphics card.

In this tutorial we’ll use GUIMiner Scrypt)). Takes me to a download page that produces a GUIminer with less fields and automaticcally uses the CPU for mining not the GPU.

I have a couple of GPU’s. The screen shot you show above should allow me to setup more than 1 GPU, no??? It is not in the link you specified. Thanks, newbie •.

Litecoin has seen some big gains lately. Within the last week of November, the price has skyrocketed for more than 400% and is now resting comfortably at around $30. If you are not familiar with Litecoin yet, it is a decentralized digital peer-to-peer currency used over internet based off the concepts of the popular Bitcoin.

Litecoin runs on the network of users that employ it. Compared to Bitcoin where transaction confirmations takes 10 minutes, Litecoin has a faster confirmation time of 2.5 minutes. The number of Litecoins will reach its limit when 84 million is produced as opposed to Bitcoin’s limit of 21 million, and it’s projected that it won’t occur until 2040. Litecoin uses a scrypt based algorithm, unlike Bitcoin’s SHA-256.The scrypt algorithm is more reliant on memory, not processing efficiency. That is the reason those specialized hardwares developed for Bitcoin mining will not work with Litecoin and making CPU mining more effective.

Litecoin mining guide – CPU mining Before getting started, i would like to share that GPU mining would produce a much higher result than CPU mining if you are equipped with a decent GPU. You can learn more about GPU mining on our next tutorial. Step 1: Create a wallet To start mining crypto-coins, you will need a wallet to store the digital currency. The client could be downloaded from the. Choose and download the Litecoin client for your operating system then proceed to install it. The client will synchronize with the network to download the blockchain which contains all transactions ever performed.

Remember it runs on the network of its users? It will take fairly long, so let it run while we move on.

I highly recommend that you take some measures to secure your wallet. The Litecoin client has a built in encryption which can be activated by going to Settings >Encrypt wallet. Enter the pass phrase and write it down to be kept somewhere safe. Losing your pass phrase will render the wallet useless as no one will be able to open it ever again. You can also learn more about securing your wallet from the tutorial on. Step 2: Join a pool We should look for a pool where multiple users work together to mine Litecoin and share the rewards based on work completed as it is not viable for solo mining anymore. I will be using coinotron for this tutorial.

Register for an account. After that, log in with the newly created account, select My Account and add a worker. Insert worker name and password.

Also, remember to change Coin to LTC. After added, you should see a screen similar to this: Step 3: Install a mining software Pooler’s cpu miner is currently the fastest. You can download the version based on your operating system from here: • • • • • • After the download is complete, extract the files to c: ltcminer For cpu mining, you will also need to setup the mining proxy that supports the Stratum protocol. Download the windows binary from either or and place it at the same location where you have extracted the miner just now at c: ltcminer.

For other platforms, the source code is available. This should be how your c: ltcminer folder look like now. Next, start the mining proxy with the following command from cmd.exe: c: ltcminer mining_proxy -pa scrypt -o coinotron.com -p 3334 Step 4: Start mining To start mining you have to run the following command at cmd.exe: c: ltcminer minerd -a scrypt -r 1 -t 4 -s 6 -o -O: • -t is the number of threads, so set 1 for each core your cpu has. • is your username.worker which we have created at coinotron.com, for instance my login is ltcminer. DigiByte DGB Mining Workstation. worker1. • is the password for your worker, for instance my password is set as pass.

You can see the miner running with the total of 4 threads and the work being accepted. The total hashrate could also be seen as 37.87 khash/s. To simplify things, so you do not need to memorize all the commands each time you start mining, you can create a shortcut on the desktop.

Go to desktop, then right click on desktop and select New >Shortcut. Paste the command in to it and create the shortcut. That’s about it for the tutorial on CPU mining. Even CPU mining is still possible, GPU mining would provide more hashing power and Radeon 7950 is the most energy efficient card at the moment. Keep an eye for our next tutorial on.