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Mining Litecoin with GPU in 2018

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Mining Litecoin with GPU in 2018

Mining Litecoin with GPU in 2018

Mining Litecoin with GPU in 2018

Mining Litecoin with GPU in 2018

 

Did you know you that, you can mine litecoins at the comfort of your home? You only need a PC or even a laptop even though a laptop is a bit slower. There are many ways you can you use for mining litecoin such as a CPU miner, cloud mining, mining pools or with a GPU miner. We will focus on how you can mine with a GPU. We will guide you on how you go about mining litecoin using a GPU.

  • Let’s first review the requirements you need to start mining with GPU.
  1. Wallets

A wallet is necessary to store your coins. You can get a wallet by visiting the homepage of the currency which you want to mine and get the link to the wallet app. Majority of the altcoins have community forums, therefore, you can get all the help you want.

  1. Graphics Processor for Speed

To use GPU mining, your computer must have a graphics processor. This processor increases the speed rate. Miners, mostly require a machine that can store as many graphic cards as possible. However, this system can easily crash the components of your electronics. Therefore, you should store your computer in a cool place and avoid hot temperatures.

  • Now let’s learn about the GPU mining itself!

It could be very confusing to start mining the first time, especially for those who have never done it before but GPU mining is actually the easiest for beginners. It consumes a lot of electricity. To cut the costs, you could set your electricity rates according to the rates of your country.

Steps of Setting up a GPU Miner

  • You need a USB mining gadget, such as a RedFury 2.6GH miner and a cgminer, a program that is used. You can download this program from the website of the developer. However, if you use Mac, there will be an exemption for you since you will need to use binaries that are not official. Cgminer versions such as 3.72 are not usually in support of scrypt mining. 3.82, was also excluded from supporting GPU. You should look for a version preferably the most updated version that suits your needs best, that is if you are using Windows OS. In case you are using Linux or OS X, the arguments from their command lines are similar.
  • The following procedure of setting up a mining pool that is if you are mining using a scrypt currency.
  1. According to www.abitgreedy.com/mining-litecoin/ you should first create a wallet that you will use to store your litecoins by installing it from Litecoin’s website. Ensure that your wallet is safe by keeping the key safely.
  2. Ensure your graphic drivers are updated.
  3. Extricate the software in a folder that can be seen without much effort. For example c:\cgminer\ then relocated it to a local disk C:\
  4. Press “windows key’ at the same time, press ‘R’ key,
  5. Type ‘cmd’ then ‘enter’. After this, the command terminal opens.
  6. The ‘cd’ is a command that you can apply to make changes in the directory to the directory that stores the cgminer zip file.
  7. Type ‘cgminer.exe-n’, after which, all the devices that are recognized on your computer will be shown. After your graphics card has been spotted, then you are sorted. In case the card is not detected you have to recheck the process that was used to set up that graphics card.
  • In case you are using mining pool, you will require the following information;
  1. A port number of your mining server. For example, 3333.
  2. A full path of the directory, in which the mining program is stored. An example is C:\cpu-miner-pooler.
  3. The username of your mining pool.
  4. An URL of the mining pool server.
  5. Your number (any number) or name.
  6. The password of your worker.
  • To start the cgminer, you need a command structure and the parameters have to be right. Here is how your command structure should appear;
  • Start”C:\cgminer –scrypt –o URL:PORT –u USERNAME.WORKER –p PASSWORD
  • An example is: Start”C:\cgminer\” – scrypt –0 pritum+tcp://pool.d2.cc:4454 –userpass username.2:p
  • A pooled mining command; c:\cgminer-2.11.3-win32\cgminer –scrypt -o http://coinotron.com:3334 -u <login> -p <password> –thread-concurrency 23000 -I 11 -g 1 -w 245

The Optimum Settings

  1. (-1-) Can be from 0-18. It determines your hash rate. 18 can be so extreme to the extent of suspending your computer. Therefore, to avoid this ensure you use a rate that is best suitable for you.
  2. (-w-) Is your work size.
  3. (-thread-) The concurrency has to be a compound of 64.
  4. (-g- ) Is, the threads of the GPU.
  5. (-temp-cutoff- )This is where you are supposed to set the most temperature required.
  • If you are using solo mining, here is the procedure.
  1. Find a litecoin client, then install and configure.
  2. Get in line with the network to start mining.
  3. Set up the litecoin client then open in %appdata%\litecoin folder.
  4. Click ‘new’ then select ‘text document’
  5. After which, a window will appear on your screen and it will request you if you might need to interchange the extensions of a .txt file to .conf,
  6. After this, you can start mining.
  • With the knowledge of mining using GPU, We can now look at the pros and cons of GPU mining.

Pros

  1. Like we saw earlier, GPU mining is the simplest process of mining. It is easy to learn. Algorithms can be solved easily using GPUs.
  2. It is also has a high speed compared to other processes.
  3. It is profitable because within a period of 110 days, you can have a breakeven.
  4. With a PC that has graphic cards, it can handle both a cgminer and a cpuminer.
  5. GPU mining is more coherent than other processors.

Cons

  1. The hash rates are quite low and it’s not well protected from bot networks.
  2. It is also not well protected from bot networks.
  3. GPU consumes a lot of power compared to other processors.

Let’s wrap up and say…

Despite the fact that GPU consumes more electricity even though the costs are worth the cause, the advantages beat the disadvantages. It is easy to use GPU to mine litecoins and even a beginner can mine litecoin so long as you follow the right procedure and rules. You only need to be aware of the scams because they can mess you up big time. Now, try mining litecoins with GPU and see yourself making the most profits.

 

 

Praneet is the CEO and Editor of the website TeckFly.com. He is a blogger and have varoius blog on various topic and he is from India who loves to read and write about Technology, Gadgets and Gaming. If you share the similar interests then you can follow him on Facebook | Google+ | Twitter

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