We introduced the best pool for Litecoin in the following article. Litecoin digital currency was introduced to the crypto market in 2011 by a person named Charlie Lee. Litecoin is a currency with a limited supply, the number of which is 84 million units. The algorithm that Litecoin supports is the SCRYPT algorithm. To learn more about Litecoin and the best mining pools for it, stay with us on the Pooyanmusic site.
Litecoin has a higher speed than Bitcoin and the block creation time is 2.5 minutes. If the speed of making a block for Bitcoin is 10 minutes. But Bitcoin has a higher financial value than Litecoin.
To mine Litecoin, in addition to the miner or ASIC device, you can also use graphics cards. If Bitcoin mining does not require a graphics card. Using a graphics card for extraction has advantages that can be mentioned as low capital and suitable noise level. However, mining using a graphics card has a low mining power compared to miner devices.
Resources can be shared by joining a pool. This will increase your chances of getting a reward. Joining a pool is profitable for you, but if you want to mine individually, it is not very profitable for you. Any good pool should follow the three criteria of transparency, security and low fees.
Pool Transparency: Pools must show their users the information of each transaction. If a pool does not provide this information to the user, it will definitely be detrimental to the user.
Security: Before choosing a pool, you should pay attention to its security. If the security of your chosen pool is not high, it will be to your disadvantage. Currently, many existing pools have sufficient security.
Fees: Each pool charges a fee from your account for your transactions. The lower the transaction fee, the higher the profit you will receive.
This pool was created in 2013 in China. This pool supports Bitcoin, Litecoin, Ethereum, Bitcoin Cash and more. To be active in this pool, you must first create an account. Iranian users can also easily use this pool. The fee for this pool is 4%.
This pool has two-factor authentication. This leads to high pool security. To withdraw income, you must have at least 0.1 Litecoin in your pool account. In this pool you can use combined mining. Mixed mining means that you can set the pool to mine other currencies but receive Litecoin as a reward.
This algorithm makes it easy to solve equations and make the volume of equations and building blocks convenient for its users. People who have a medium to high processing system can easily mine this currency.
LiteCoin Core, LiteAddress, LiteVault, Electrum LTC, Loaf Litecoin, Trezor hardware wallet and Ledger Nano S wallets support this digital currency.