Join Us at Consensus: Singapore in September How to Mine Litecoin m440 other Altcoins While it is now considered too late for hobbyists without expensive ASIC processors to start mining bitcoinsmany of the alternative digital currencies are still well suited for bitcoin on your home PC.

In this guide, we’ll take you through all you mining to know to start digging up a few litecoins, feathercoins or dogecoins without any costly extra equipment. For the most part, cryptocurrencies employ either SHA or scrypt as their proof-of-work hashing algorithm, but mining of the newer currencies have opted for scrypt.

M440 of Gridseed litecoin miners set up. Arina P Habich Scrypt mining to be the more memory intensive of the two — however, home PCs with reasonably powerful graphics cards can still mine those cryptocurrencies quite effectively, as there are bitcoin dedicated ASICs to compete with — yet. Perhaps surprisingly, it’s still possible to use just your computer’s CPU to mine some of the digital currencies. This holds true, even if you have only a laptop with integrated graphics; though this may bitcoin prove terribly effective and is not a set-up we would recommend.

Wallets at the ready Before you start mining, you will need a wallet to keep your hard-earned coins in mining our guide to storing bitcoin. A good option is to head to the homepage of the currency you intend to mine and seek out the download link for the default wallet app.

What is an ASIC Bitcoin Miner?

If you would like to do more research into litecoin specifically, we have a guide on how to get started. If you find yourself in need of help and m440, most altcoins have community forums, as well as their own subreddit. The majority of wallets are based on the original Bitcoin-Qt client. Be warned, though, that before these wallets are truly usable, you may face a lengthy wait while m440 coin’s entire block chain downloads. Much Wallet This is DogeCoin’s Wallet The need for speed Unless you possess specific mining hardware, there are two ways bitcoin mine cryptocurrencies: Of the two, a GPU offers far better performance for the cryptographic calculations mining.

However, if you are making your first foray into mining and don’t possess a souped-up gaming computer — a laptop with Intel integrated graphics, perhaps — it will still be possible to mine those altcoins, but m440 a far slower rate.

The catch with GPU mining is that it requires a dedicated graphics processor, such as you may have fitted inside your desktop PC — the Intel integrated graphics cards found in most laptops are just m440 suitable for the task.