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Start your Litecoin miner in 10 steps

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Very easy 10 steps to getting started with Litecoin Mining and setting up your Litecoin Miner, set up easily and start mining litecoins today

Getting started with Litecoin Mining and setting up your Litecoin Miner

If you think you are too late to join the Bitcoin bandwagon and get mining and reap herculean profits out of it, maybe you could look at alternatives and learn and decide to mine Litecoins. So if you have made your research and done your understanding and are looking to mine coins without having to invest in heavy ASIC machinery, Litecoins is actually your best choice right now.

That being said, it is important for you to follow the steps mentioned here closely and check off all the requirements so as to successfully mine Litecoins.

 

Step 1 : Do your research

When it comes to your money and making investments using your money, always remember to never go into something like this without doing your research and properly educating yourself.  Go through numerous articles and tutorials available online to learn about the entire Litecoin platform and how it works.

 

Step 2 : Obtain a wallet

Obviously, you would need a place to securely hold your hard earned Litecoins once you’ve mined them. This is a step that would be required later after the mining but we are already making sure we have our hands on it. A Litecoin wallet serves just this purpose. The Litecoin Core wallet is a kind of the ‘official’ digital wallet for Litecoins. There are a wide variety of options available in this matter from mobile apps to web based platforms. Airbitz, Blockchain, Freewallet, My Celium Wallet are a few of the most popular and reliable mobile apps to create your digital wallets on. The Ledger Nano, Jaxx, Exodus, Coinomi, LoafWallet, and LiteAddress wallets are several other options available to users.

For those people who want to go for something different and try a web based platform, Coinbase, Circle, Blockchain, Strongcoin, Xapo are a few of your best options. Enable two factor authentication on your wallets since your wallet is now your most prized possession. Always prepare a backup for your wallet which no one can reach or access. Do not share your private key with anyone no matter what.

 

Step 3 : Researching about miners

Once your wallet is set, you need to go ahead and turn the Internet upside down to look into several options available and then choose a Litecoin miner hardware that best serves your purpose and need. Read about what all you already have, like graphic cards etc and what all you would need to purchase additionally. Make a list of all these requirements and then set forth to buying them.

 

Step 4 : Get your hands on some cool graphic cards

For effective mining process to undergo, try and get your hands on some awesome graphic cards that would make your life much much much easier. The Nvidia GTX 1070 is a great graphic card to be used for mining hardwares too. With a high hash rate of 30mh/s, it offers a Core Clock of 1,506MHz, a memory of 8GB GDDR5, a memory clock of 8Gbps and a power draw of 150W. This is a great option for people considering mining as a long term investment plan.

The AMD Radeon RX Vega 56 is another very popular option when one is looking for a high performance graphic card offering high hashing rates. It has a core clock of about 1,156MHz and an even impressive memory of 8GB HBM2, memory clock of 800MHz and power draw of 210W, it is cheaper to boot but runs a little hot.

 

Step 5 : Choose your Litecoin miner

One of the most powerful and maybe the best choice to go for with respect to your Litecoin miner is the ANTMINER L3+. The L3+ Scrypt miner enables mining of not just Bitcoins but Litecoins too. It has a hash rate of ~504 MH/s and does not eat up a lot of electricity which gives you some relief from that point of consideration. Weighing just 6.5 kgs it is very lightweight and also very cost effective even in terms of shipping.

 

Step 6 : Join a mining pool

Do you have any idea how much more easier your life would get if you join a mining pool? You might want to feel a little adventurous and want to do it all on your own but get yourself involved in a mining pool, seriously. Mining alone can be quite a tedious process and you would have to wait long hours to get a block of transactions confirmed. The most popular and much used sites for this purpose are the Bitminter, Kano Pool, Eligius, Slushpool. You can easily pool together your computing power with other miners and help out everyone while making your life easier too.

 

Step 7 : Check mining profitability

Would it not be great to already predict the outcome of something and make sure that every step you take would only help you make profits? That might take the thrill out of the entire thing but what use is thrill when you are constantly losing a huge amount of money and just making yourself more and more broke? That being said, learn how to use a Litecoin mining profitability calculator and keep track of all their profits and realise that if they are not making a profit, they should change their investment schemes.

 

Step 8 : Get a power supply

Of course you know mining is an energy consuming process and so it is important for you to get a power supply which is not just cost effective but also compatible with you miner.

 

Step 9 : Start mining

Finally, fire up your miner by connecting it to the power supply. There would be a user manual that came with your miner. Just give it a thorough reading and it would help you set it up. Integrate your miner and your mining software. Find your IP address on the admin page of your network router. Type this IP address in the your web browser. Look at the ‘connected devices’ on the admin page, find the name of your miner (mining hardware), and select it. This action should display the IP address of your miner. Copy and paste this address into your web browser. This opens the admin page of your miner, log into it using your credentials which are generally printed in the users manual of the miner. Immediately click on ‘Miner Configuration’ and type the URL address, username and password of the mining pool you selected for yourself earlier. Click ‘Save/Apply’. And you are done.

 

Step 10 : Two factor authentication

In addition to securing a wallet, one must learn to secure them furthermore. There is never something as too much security and more and more layers of security for your wallet would only keep you safe and secure so as to not get conned and lose all your hard earned Litecoins. The one step to take in this direction is to enable two factor authentication. This was, in addition to entering your credentials to access you account, you would also be required to enter and additional code which is sent that very moment to your mobile number. This is similar to the when one enters an OTP to make online credit and debit transactions.

#Daily Price Analysis

Ripple Price Analysis: Can XRP recover?

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Ripple price is at present exchanging a range. XRP/USD must break the $0.5200-0.5250 resistance to move into a bullish zone.

MACD – The MACD for XRP is presently in the bearish zone.

Strength Index– The RSI for XRP is floating close to the 50 level.

Support Level – $0.5000

Key Points:

  • XRP price moved up a little, however, it confronted a good selling close to $0.5250 against the US dollar.
  • There is a fleeting bullish pattern line framed with support at $0.5050 on the hourly outline of the XRP/USD pair.
  • The pair may keep on solidifying over the $0.5000 support in the following couple of sessions.

Ripple price is at present exchanging a range against the US Dollar and Bitcoin. XRP/USD must break the $0.5200-0.5250 resistance to move into a bullish zone.

 

Ripple Price Analysis

Recently, we talked about that ripple price could recoup towards the $0.5200 level against the US Dollar. The XRP/USD pair moved higher and cleared the $0.5100 and $0.5180 resistance levels. The upward move was certain as the price even outperformed the $0.5200 level and settled over the 100 hourly straightforward moving normal. In any case, the price bombed close $0.5250 and the half Lie retracement level of the last drop from the $0.5610 swing high to $0.4860 swing low.

The price topped at $0.5253 and later began a drawback amendment. It moved beneath $0.5150 and the 23.6% Lie retracement level of the ongoing wave from the $0.4872 low to $0.5253 high. The current price activity is sure over the $0.5000 support region. There is a transient bullish pattern line framed with support at $0.5050 on the hourly diagram of the XRP/USD pair. Moreover, the half Lie retracement level of the ongoing wave from the $0.4872 low to $0.5253 high is going about as a support. For whatever length of time that the price is over the pattern line, $0.5000 and the 100 hourly SMA, it could recoup by and by.

 

 

XRPUSD 5 Day Chart 13 Nov

XRPUSD 5 Day Chart

 

Taking a gander at the graph, ripple price is right now uniting over the $0.5000 support. Purchasers will in all probability make another endeavor to push the price above $0.5200 and $0.5250 in the close term.

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#Daily Price Analysis

XEM Price Analysis: NEM on a rise after Coincheck relisting

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XEM Price showed a bullish trend earlier today as Coincheck exchange announced the relisting of the XEM coin. The XEM coin was delisted from the exchange earlier due to the hacking of the exchange that led to stealing of XEM tokens worth half a million dollars.

 

XEMUSD 1 Day Chart

XEMUSD 1 Day Chart

XEM Price Analysis

Support Level: $0.1177
Resistance Level: $0.1209

 

The price of the coin was trading around $0.092 just before the announcement of the relisting of the coin on Coincheck. Just a minute before the announcement the price started to rise tremendously and hit a high of $0.1223 showing more than a 28% rise in the last 24 hours.

The coin is currently trading around $0.1188 with the major support at $0.1177 and the resistance at $0.1209.

The XEM Token is ranked 15 according to market capitalization and showed the yearly high in January 2018 of $1.86.

The coin is expected to experience some bearish hurdles while settling down to a notable price.

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#Ripple

Ripple Updates: New office, XRP tip bot, Nasdaq, Trezor and more.

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Ripple has been steady in collaboration and advancements throughout the globe. Here are some of the recent advancements with respect to Ripple and XRP:

Ripple has been quite steady in collaboration and advancements throughout the globe. Here are some of the recent advancements with respect to Ripple and XRP:

XRP Tip Bot in Amazon Alexa

The XRP Tip Bot is ready to be a part of the Amazon’s Alexa. This will allow Alexa Users to easily transact their XRP by using voice command on the Alexa Device. The Alexa application developer posted on Twitter on November 6 about Alexa’s implementation of XRP

 

XRP likely to be listed on Nasdaq in 2019

A source from the National Association of Securities Dealers Automated Quotation Exchange (NASDAQ) said that the exchange’s crypto initiative in 2019 is surely interested in scalability and they cannot put apart XRP which is a top-level security cryptocurrency by market cap. The Nasdaq team also said that they believe that XRP is surely going to be the 2nd largest crypto in the future after bitcoin but there hasn’t been any official announcement for the same.

 

Trezor Model T

Trezor will likely list a list of more altcoins in the upcoming model T update of the Trezor Device which will include XRP as well.

 

Cred to provide XRP backed loans

Cred, which is a leading provider of cryptocurrency backed lending. This will help the XRP owners to get loans using their XRP as a collateral security without actually having to sell their tokens.

 

Ripple Opening office in Dubai

Ripple Labs has planned to open their new office in Dubai in order to get themselves a strong position in the middle east markets.

 

Banks adopting Ripple’s Technology

Japan’s MUFG Bank and Brazilian Bank Banko Bradesco have signed an MOU to start using Ripple Software to send cross-border payments between Japan and Brazil. The Banks will use just Ripple’s software XCurrent and not the XRapid which uses the XRP coin. Ripple also tweeted about the collaboration:

 


 

The level of collaboration that Ripple has globally has been rising day by day. However, the XRP investors are still waiting for the real adoption of XRapid which will use the XRP tokens for the transfers rather than just the XCurrent Software of Ripple Labs.

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