How to mine Litecoin...

How to mine Litecoin...

By CryptoChemistry | CryptoChem | 15 Jun 2020



Before telling you what hardware or software you need to start mining LTC, it is important that you download and install a wallet in which to store your coins.

Litecoin Wallet.

The second step you must take is to get a wallet to save your litecoins (LTC), that is, a Litecoin Wallet. The best thing about this cryptocurrency is that on the official website of the Litecoin project you will find its official wallet. You just have to click on the "purses" button on the top menu of their website and select from the different possibilities:

How to mine Litecoin.

-Litecoin Core for Windows, Mac OS X, Linux, Android, iOS.
-Electrum, online wallet for Litecoin. You can download it on the official Electrum website.
-LiteVault. You need to register.
-LiteAddress.

It is important to know that, once installed in Windows, the wallet must download all the coin block chains before working properly. It is an automatic process, although it can take a long time. Only at the end can you open an account and start mining.

Litecoin mining hardware.

Although the cryptocurrency, and its namesake platform, operate under the Scrypt protocol (allowing a user to mine from their traditional computer), currently the popularity of cryptocurrencies has grown considerably. Today it is the third most traded, behind BTC and ETH. So you may be thinking of special hardware to mine Litecoins. One of the best Litecoin mining machines is the Antminer L3 Plus - 505 Mh / s.

However, if you want to pay off all the possible expenses, you could well start using your CPU (Central Processing Unit) or the GPU (Graphics Processing Unit) of your computer. Although the mining speed (in hash / second) would be lower, you would not have to invest a lot at the beginning, which is beneficial in the short term.

Whichever method you choose to mine Litecoin, no one can guarantee you a mined amount of LTC in a given time. If they do, run away.

Litecoin mining software.

To talk about Litecoin mining software, it is necessary before talking about Litecoin software. And it is that, in the opinion of many cryptocurrency experts, Litecoin works in a more complex way than Bitcoin. For this reason, customizing mining software is complicated.
However, if you do not have technical knowledge to start, it is always possible to mine in community.

LTC mining community.

A community of miners, commonly known as a pool, groups several miners with the same interest: mining Litecoins. The advantage of the method is that you can mine more quantity in less time. The disadvantage is that the reward is distributed among all the members of that group. However, it is the best way to start, especially if you don't have a large hardware infrastructure.

With conventional hardware, a person could be mining an entire year to get 1 litecoin, depending on the technology used, of course. With pools, it is possible to receive periodic payments that, in the long term, make the process profitable.

Note: If you don't have great hardware, choose a community that has a percentage equal to or less than 5% of the Hash Rate Distribution.

Mining Litecoin with CpuMiner and CgMiner.

First you have to install a Litecoins mining program. The best one is CpuMiner (Windows, Linux, Mac OS). You must download it from the SourceForge website.

A compressed (zip) file will be downloaded. You must unzip it in the initial folder of the main hard disk. By default, something like this will remain: C: / cpuminer /.

Then comes the difficult part. You must customize cpuminer for your Litecoins mining pool.

This is what you should have:

Create a shortcut for the minerd.exe file on your desktop. Then, go into the properties of that shortcut. Copy the address that appears in the Direct Access tab, in the Destination line. By default, it will have a format similar to this: C: /cpuminer/minerd.exe.
You need the URL of the mining server stratum. They will give it to you when you register in a pool. For example, if you have registered with Hypernova, the URL will be something like stratum + tcp: //hypernova.pw. Also, you need the port number of the server. By default they should be four digits.
Username, miner number and password in the mining community.

How to configure CpuMiner to mine Litecoin.

-Open a notepad (txt), copy this line: start «path» minerd.exe –url URL: PORT –a scrypt –userpass-USERNAME.WORKER: PASSWORD
-You replace the location of the minerd.exe file, the url, the Port, the username, the miner number and the password.
-Save this file with a .bat extension. That is, when you press the save button, the name * .txt appears by default. Change it to "my name.bat" (without the quotes) and click save.

-Run the bat file that you have generated. In a short time your computer will be connected to Litecoin's mining network.

To continue, you will need to install the cgminer program. You will need to install the software in a folder on your hard drive, just like you have done with cpuminer. Then you have to do exactly the same as with cpuminer with the following line: Start «path» cgminer - scrypt -o URL: PORT -u USERNAME.WORKER -p PASSWORD

You save the notepad file as .bat, and run it. Once this is done, you will have started mining Litecoins.


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