Litecoin, the original alternative to Bitcoin, was invented in 2011. Despite the fact that Bitcoin was the pioneer cryptocurrency, Litecoin is believed to be faster and more efficient. The Litecoin blocks are verified every couple of minutes, improving the network operation.
Even though the algorithms used by both cryptocurrencies are not identical, Litecoin exchange rate is linked to Bitcoin.
Below is the latest comprehensive list of the most credible Litecoin pools to join.
Choosing the Right Pool
Payout and fee levels are both of major importance when enrolling with a pool. Mining through a pool is beneficial because of the regular payments. Besides, low fees are a crucial factor if you care about keeping most of the mined Litecoin.
Lastly, geolocation matters. Multiple pools have their servers in China, which makes it challenging to mine with them. For that reason, there is a need to research and find out if there are any servers close to you. It takes best Litecoin miners to consider everything in advance and realize how to mine Litecoin in the most profitable and efficient way.
When talking about the best pool it is crucial to mention that the ideal version of the mining pool does not exist. In other words, the choice is always personal and should be based on the requirements that make a pool the best option for you. Of course, there are ratings and lists which present the best pools and most frequently mentioned are Antpool, F2Pool, and LTC.top. Nevertheless, these pools are the best choice for the miners interested in China-based pools and servers.
Certainly, your final choice will be the right one. It is safe to say that the pool which complies with the requirements is the right option. For that reason, the selection process of the best Litecoin mining pool is fairly fast and simple if you have all the information needed.
Obviously, there are plenty of forums and articles available to make the choice process effortless. However, the essence of the information in those sources and in reviews by the best Litecoin miners in the industry is basically the same.
Here you will find a short list of the best pools to mine Litecoin which will get you started on the process of choosing the best one for you.
Being a well-known and a large mining pool, LitecoinPool.org has been in the industry for more than 8 years. It has a pay-per-share (PPS) payment method and also provides a merged mining option. The PPS approach guarantees fast payouts based on the hashpower provided. In this case, mostly all the risks are on the pool itself. Besides, LitecoinPool.org is a solid choice because of server availability. Its servers can be reached from any place and, therefore, make this pool the most comfortable choice.
LitecoinPool.org is famous for its miner protecting principals as well. This mining pool has proven to be reliable and professional. Therefore, it can be the best choice for you in case PPS or merged mining is what you are looking for.
viaBTC is believed to be the fifth best Litecoin pool globally and the second best option on this list. viaBTC used to be a Bitcoin mining pool. However, the pool added numerous cryptocurrencies because of the rising interest in mining. Now it focuses primarily on Litecoin with other crypto options available as well. With viaBTC you can choose the payment method you are comfortable with, like PPS+ with the default fee of 4% per block reward and 2% fee per transaction, PPLNS with 2% fee, and SOLO with 1% fee.
Merged mining is also available at viaBTC. Merged mining, in this case, lets the participants receive such additional rewards as 2 Namecoin for mining 1 BTC. What is interesting is that for mining 1 Litecoin there is an absolutely free 800 Dogecoin reward. Moreover, viaBTC has a cloud mining option available in case that is what you are interested in.
ProHashing is a USA-based pool operating since 2014. The main principals of the pool are transparency, stability, and support. Despite the fact that the pool has been in the industry for a little more than 5 years, it is considered to be trustworthy and rated 9 th on the top 10 list. ProHashing has a PPS payment method, fixed 4.99% fee and no transaction fees. Moreover, with ProHashing there is an option to choose the cryptocurrency you want to be paid in.
In case you mine Bitcoin, you can choose to be paid in Litecoin or any other currency. It can also be actual U.S. dollars. Besides, the pool is able to start the mining process automatically based on the in-house algorithm.
Big Mining Pools
The process of choosing the mining pool can seem complicated. However, you should remember that if the pool is large it does not mean that it is the best choice. Basically, the main aspect is that the size of the pool will not influence the size or speed of the payment. On the contrary, it is more likely to slow them down. In order to help you make the choice more informed and avoid the biggest pools, here is the information on Litecoin hashrate distribution.
P2Pool is an option to consider because it is not the typical pool. It is a peer-to-peer mining network which does not require a usual type of registration everyone is accustomed to. Moreover, P2Pools are usually decentralized and in order to connect you will only need an address of the Litecoin wallet. P2Pool networks are believed to provide high-quality security and to have wide-ranging nodes.
P2Pool operation is based on the following process: awarded shares form into blocks inside the network and, later on, assemble into a sharechain (an equivalent of blockchain). Once the block is found, the contributors are paid according to the size of their share in the sharechain. Below is the short list of P2P networks for you to consider.
How Lucrative is Litecoin Mining?
Unquestionably, Litecoin mining is lucrative. Despite the fact that it is challenging with a usual GPU, a modern graphics card is going to make it both profitable and efficient. The main problem many miners might face is that the software and hardware used for mining should be of the highest quality. In order to keep up, the hardware should be at least as good as ASIC miners like Bitmain Antminer L3. Good news is that such miners are mostly affordable and do not cost more than GPU.
Finally, if you are still here reading it means that Litecoin mining is definitely your field of interest. There is no steadiness in the mining industry with the exchange rates always changing. However, there is always a potential and a chance to make a profit. That is exactly why the industry situation should be monitored at all times.
Any of the pools mentioned above will help you reach your goals and simultaneously guarantee safety. Make your choice and start earning!