Network Hashrate: 20.4 TH/s (25.8 %)
Table of Contents
How Litecoinpool Works?
Litecoin is an online network that people can use to send payments from one person to another. Litecoin is peer-to-peer and decentralized, meaning that it is not controlled by any single entity or government. The payment system does not handle physical currencies, like the dollar or the euro; instead, it uses its own unit of account, which is also called Litecoin (symbol: Ł or LTC). This is why you will often see Litecoin categorized as a virtual or digital currency. Litecoins can be bought and sold for traditional money at a variety of exchanges available online.
Get the Litecoin Mining Hardware
To start mining Litecoin on Litecoinpool, the first step is to acquire a mining hardware that can handle the Scrypt algorithm. The Bitmain Antminer L7 is a highly recommended mining hardware for this purpose, as it offers a powerful hash rate of 9.5 TH/s with a low power consumption of 3425W. The Antminer L7 is user-friendly, easy to set up, and can be managed through a web interface or mobile app. The Antminer L7 is designed to operate continuously and can run for long hours without any issues, making it a reliable option for mining on Litecoinpool. The efficiency of the Antminer L7 makes it a cost-effective option, allowing you to maximize your mining profitability.
Create a Pool Account
Register on https://www.litecoinpool.org/register
Configure Your Miners
Connect your miners to the server(s) closest to you (most miners allow you to specify more than one URL for failover):
- stratum+tcp://litecoinpool.org:3333 (Europe)
- stratum+tcp://us.litecoinpool.org:3333 (US East Coast)
- stratum+tcp://us2.litecoinpool.org:3333 (US West Coast)
If connecting from East Asia, the US West Coast address should be preferred.
If you are behind a firewall, you can also access Stratum on port 8080.
Mind that some software (notably some versions of the web interface of Antminers) requires you to omit the protocol prefix (stratum+tcp://) when entering URLs.
The default worker credentials are:
- Username: your_username.1
- Password: 1
If you want, you can create additional workers on your account page, with names and passwords of your choice. Both the username and the password are case-sensitive. Never use your account password for any of your workers.
Create a Litecoin Address
Download and install a Litecoin client from the official website. After starting Litecoin Core, click on the “Receive” tab and copy your Litecoin address, then paste it into your account settings so that you can receive payments.
Alternatively, if you wish to use Electrum-LTC, you can use any of the addresses shown in the “Receive” or “Addresses” tab.
Your Litecoin address should start with one of the prefixes “L”, “M”, or “Ltc1”.
Read More: Litecoin Mining Pool – How To Mine Litecoin