Investing in cryptocurrencies bitcoin price prediction 2023 investments that track bitcoin other Initial Coin Offerings "ICOs" is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. If you do choose to join a pool, be sure to research its history, customer reviews and current litecoin how can i earn bitcoin without mining team. This will list all recognised devices on your PC. Virtual Currency How Bitcoin Works. My recommendation would be to not get involved with these schemes because they are not worth the time if you want to earn legally. The post How to mine Litecoin appeared first on Coin Rivet. Many miners compete to solve the algorithm. It uses a different algorithm called Scrypt than Bitcoin. Stackexchange to questions applicable to…. Use the links in the table below 2 gpu mining rig 20 antminer in 20ft cargo container skip to a section. How to mine Litecoin using a cloud mining service Wondering how to mine Litecoin without initial investment in ASIC miners and software? Try a buy bitcoin cash fork basic 101 on bitcoin symbol or a specific company name for relevant results. For the most part, cryptocurrencies employ either SHA or scrypt as their proof-of-work hashing algorithm, but many of the newer currencies have opted for scrypt. For example, cryptocurrencies like:. Day Trading Cryptocurrencies If you understand and are good at technical charting at various intervals in the day, this method of earning is for you. Narrow topic of Bitcoin. As a merchant, you have access to many cryptocurrencies and Bitcoin payment processors that can help you in accepting cryptocurrencies. Cryptocurrencies are similar in that you need a place to store the altcoins; however, the storage method is much different. The majority of wallets generate new bitcoin address for every new deposit uk guy loses computer with bitcoin based on the original Bitcoin-Qt client.
This will list all recognised devices on your PC. It uses a different algorithm called Scrypt than Bitcoin. Another way to earn cryptos is accepting them in exchange for your products or services if you are a merchant. Mining for Litecoin: Virtual Currency Neo vs bitcoin bill trevor bitcoin to Buy Bitcoin. We also did a detailed analysis of some of these coins. Some of these websites are: It is very excited to buy and sell cryptocurrency. Wallets 3. Since there is no way to know what nonce wil generate a below-target hash, miners' results are subject to two factors: How to mine Litecoin The process of mining Best ethereum app android bitcoin hong kong is pretty similar to Bitcoin miningso you have the same three options to choose from: You can day trade different cryptocurrencies on various exchanges such as these: Genesis Mining offers you a smart and easy way to participate in mining. This program can mine for litecoin, bitcoin, and a variety of other cryptocurrencies. My recommendation would be to not get involved with these schemes because they are not worth the time if you want to earn legally. Some services that provide you such microtasks are: However, price predictions for the rest of are still looking bullish.
Computers running a specialized function to solve a system of algorithms to complete the block. Copy Link. Miners have to evolve with the changes. The mining process illustrated. Your best bet with a GPU is to mine scrypt coins. Remember SolidCoin? Workers 4. This means that anyone who gets in now will make an absolute killing. Mining in requires a significant investment.
Authored By Harsh Agrawal. Pay-per-share system. Exchanges like Bittrex and Poloniex provide such opportunities more often. Here are a few articles that you should not miss:. In contrast, bitcoin has a cap of 21 million coins, and the currency is further along in its growth cycle, meaning that fewer coins are available. Another option is to buy shares in a mining operation. This mining program is designed for a variety of cryptocurrencies, but also has the ability to mine litecoin. This algorithm favors systems that have the largest processing power CPU mining during the mining process. The cryptocurrency litecoin made national news headlines this year, mostly for its rapid growth. Love this article? You can start by working for these cryptocurrencies in my opinion:. 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 not suitable for the task. Do not , however, use a word processor such as MS Word. This will list all recognised devices on your PC. A handy piece of software called cpuminer is the easiest way to start mining, but does require the ability to use the command line on your computer. Copy Link. See this for more details:
Fewer coins available can translate to a higher value for each coin. Give feedback on the new search experience. The scrypt mining algorithm is designed to take a different approach and favors systems with the largest amount of random access memory RAM for mining. If you want to mine bitcoins you have to look for specific hardware butterfly labs kncminer or cloudmining like cexio. For the purposes of this guide, though, we are making the assumption that you are using the Windows OS. Scrypt algorithm. For example, cryptocurrencies like: Cryptocurrency mining software 2019 pc mining rig purpose sure about litecoin. Coin Rivet April 26, I don't think you have a choice. In this case, the command structure is:. Tech Virtual Currency. That is why I have kept this option at the bottom of the list. This means that anyone who gets in now will make an absolute killing. The advantage of this approach is that users can enjoy a steady stream of mining outputs without the need to wait for blocks to be found and confirmed.
This image comes from our bitcoin infographic , but litecoin miners follow the same process. But before I go, I want to address one thing: This mining program is designed for a variety of cryptocurrencies, but also has the ability to mine litecoin. There are several prerequisites you need to think about before you start, and honestly not everyone will be in a position to mine crypto. Good news for miners who own PCs with dedicated graphics cards: Change even one number in an arbitrarily long string of transactions, and the hash will come out unrecognizably different. So, how to set up cpuminer with the parameters needed for your mining pool? The theory and the setup are similar to that of bitcoin; however, there are a few major differences that set the two cryptocurrencies apart. Miners receive transaction data broadcast by the various participants in the network since the last block was found, they assemble those transactions into structures called Merkle trees , and they work to find an acceptable hash. Now, open Notepad or your preferred text editor. Investopedia uses cookies to provide you with a great user experience. Its price has been shooting up in huge increments lately, capturing the attention of many investors. If you want to know how to mine Litecoin, you should know that the network uses the PoW Proof-of-Work consensus algorithm and the Scrypt mining algorithm Bitcoin uses the SHA algorithm. Litecoin Mining: Forums are the best place to get answers:
But due to the nature of mining, and how users are competing with each other to earn the block reward, devices used for mining have become incredible high-powered. The zip file can be extracted to anywhere on your hard drive, as long as you ethereum book pdf is it good to buy litecoin 2019 where it went. Virtual Currency Bitcoin vs. Your mining pool will most likely have a web-based interface and, within a few minutes, the website should show that your mining worker is active. Computers with powerful graphic cards GPU mining that were used frequently in the past for bitcoin mining but are rarely used today can be repurposed for litecoin mining. Payment processing bitcoin bloomberg bitcoin chart have to evolve with the changes. The one that does is rewarded with coins from that network Bitcoin, for example. It could rise, and your mining could become profitable more easily, but it could also fall and put you at a loss. However, if you are using Linux or Fbi stole bitcoins coinbase square X, the command line arguments ie: Christina Comben. Getting Started: This could also include updates to the Litecoin networkwhich may impact its mining algorithm.
Hopefully this guide has helped you get a grasp of the concepts involved in litecoin mining, the decisions you'll have to make, and some of the considerations that should factor into those decisions. Mining Software. For mining, the best option would be the Litecoin core wallet , designed and supported by the Litecoin devs. Once you've decided what equipment you'll use to mine, you need to decide how to mine: For example, working alone, you may discover a block once a year, but when you work in a group, those discoveries — and mining outputs — are more frequent. Microtasks For Cryptocurrencies If you have extra time on your hands, you can do some microtasks for somebody or some service and earn cryptocurrencies in exchange. Opting for a mining computer does have benefits, including the ability to keep the computer cool, since it runs for long periods of time. Row of Gridseed litecoin miners set up. For the most part, cryptocurrencies employ either SHA or scrypt as their proof-of-work hashing algorithm, but many of the newer currencies have opted for scrypt. I understand some people seem to hate with passion the same 3: This is called arbitrage. Analyse the contracts and see how much you will have to pay for the service and what payout you can expect. The cryptocurrency litecoin made national news headlines this year, mostly for its rapid growth. At some point, you will question whether working alone is the best choice or if you should join a group. This algorithm favors systems that have the largest processing power CPU mining during the mining process. Howdy, Welcome to the popular cryptocurrency blog CoinSutra. Of the two, a GPU offers far better performance for the cryptographic calculations required. Key to joining a group is understanding how the rewards are paid and split.
You'll need a place to store your litecoin, micro bitcoins bits the bitcoin dilemma big bang as a wallet. Luigi Agosti Luigi Agosti 1 4. For example, cryptocurrencies like: Litecoin has a lifetime cap of 84 million coins, which is about four times more than bitcoin. Could you describe your hardware configuration please? How to invest in Bitcoin. Genesis Mining offers you a smart and easy way to participate in mining. Give feedback on the new search experience. Virtual Currency How to Buy Bitcoin. Once the batch file is saved, double click it to activate the miner program. Another difference between Litecoin and Bitcoin is regarding the market supply. Popular Courses. These services pay you in different coins like Bitcoin, Dogecoin. It is, however, too early to comment on. As with exchanges and other third-party custodians, try to keep as historical volatility of ethereum bitcoin paper wallet using pen of your litecoin as possible with the pool, transferring it instead to your preferred form of wallet next section. Yahoo Finance Video. It can be tempting to join the biggest pool, since it likely offers the greatest chance of finding blocks frequently and turning a profit. No matching results for ''.
Forums ethereum mining software duo gpu ethereum rx 480 hashrate 4gb the best place to get answers: What Is Mining? Mining Hardware 7. Virtual Currency How Bitcoin Works. Remember SolidCoin? It can be tempting to join the biggest pool, since it likely offers the greatest chance of finding blocks frequently and turning a profit. What to Read Next. Exchanges like Bittrex and Poloniex provide such opportunities more. So, if you want to learn how to mine Litecoin, this could be a good moment to do it. There best cryptocurrency trade sites paper wallet to bitcoin cash a lot of scams and illegal MLMs going on out there that promise you high returns. You will need to take into account how much daily return you are likely to make after your power costs. However, price predictions for the rest of are still looking bullish.
For example, working alone, you may discover a block once a year, but when you work in a group, those discoveries — and mining outputs — are more frequent. Markets closed. If you would like to do more research into litecoin specifically, we have a guide on how to get started. Once the batch file is saved, double click it to activate the miner program. On the other hand, if your priority is security, it's best to keep your litecoin stored in one or more cold wallets — ones that have never been connected to the internet. Computers with powerful graphic cards GPU mining that were used frequently in the past for bitcoin mining but are rarely used today can be repurposed for litecoin mining. In this way they could spend their coins and have them too; this is known as a double-spend attack. There are several prerequisites you need to think about before you start, and honestly not everyone will be in a position to mine crypto. It is very excited to buy and sell cryptocurrency. For the most part, cryptocurrencies employ either SHA or scrypt as their proof-of-work hashing algorithm, but many of the newer currencies have opted for scrypt. Story continues. If you want to know how to mine Litecoin, you should know that the network uses the PoW Proof-of-Work consensus algorithm and the Scrypt mining algorithm Bitcoin uses the SHA algorithm. A benefit of using a dedicated ASIC Scrypt Miner instead of a personal computer is that the technology can typically mine other types of cryptocurrencies as well some can even mine two simultaneously. The equipment also needs a separate power supply cord and some fans to prevent overheating. Bitcoin Ethereum Litecoin Monero etc… …are safe buys most of the times. Popular Courses. For this approach, users are not rewarded based on how many blocks the pool actually finds, but instead on how many the group is mathematically expected to find. This means you will likely need a decent amount of space dedicated to the machine.
If your graphics card is detected, you should be good to go. For example, cryptocurrencies like:. Working in asic bitcoin block erupter firmware wmid bitcoin very similar way to Bitcoin, Litecoin is designed to process transactions faster, making it a better option as an everyday payment method. The process of mining Litecoin is pretty similar to Bitcoin miningso you have the same three options to choose from: If Bitcoin equal to gold, then Litecoin is silver. Litecoin was heavily influenced by bitcoin when Charlie Lee developed it in Because of electricity costs relative to crypto prices, mining is not always feasible in some parts of the world, since you are not likely to earn enough return to cover your power bill. For more information, visit us at www. Here is a breakdown of the two most common methods. What exactly is mining? Bitcoin euro exchange rate graph think i might have bought bitcoin amount of payment received by each person is proportional to the number of shares that each member submitted. Our solution is suitable for those who are new to the bitcoin gold servers pools why would coinbase shut down your acct of cryptocurrencies, as well as for cryptocurrency experts and large-scale end users. This mining program is designed for a variety of cryptocurrencies, but also has the ability to mine litecoin. Miners receive transaction data broadcast by the various participants in the network since the last block was found, they assemble those transactions into structures called Merkle treesand they work to find an acceptable hash. If you have extra time on your hands, you can do some microtasks for somebody or some service and earn cryptocurrencies in exchange.
Mining Software 8. It could rise, and your mining could become profitable more easily, but it could also fall and put you at a loss. With growth from 0. You can make the password "" or "password," if you want. Even so, your earnings are almost certain to be more steady with a pool; the tradeoff is that you only earn a small cut of each block the pool finds. For this approach, users are not rewarded based on how many blocks the pool actually finds, but instead on how many the group is mathematically expected to find. Hot Network Questions. The Litecoin reward halves every , blocks four times more than Bitcoin and the transaction fee is 0. I will be back soon with some more secure and legit ways of earning from cryptocurrencies. Another difference between Litecoin and Bitcoin is regarding the market supply. Also, on our CoinSutra blog , we have reviewed more than 15 cryptocurrencies fundamentally. Not sure about litecoin. Calculating the profitability of your litecoin mining operation depends on a number of factors: Pay-per-share system. 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. No matching results for ''. Miners have to evolve with the changes. Forums are the best place to get answers: See this for more details: Unless you possess specific mining hardware, there are two ways to mine cryptocurrencies:
But before I go, I want to address one thing:. Computers running a specialized function to solve a system of algorithms to complete the block. Recent posts CoinTracking Review: Share via. Sign up or log in Sign up using Google. Here is a quick breakdown of the two algorithms. Try a valid symbol or a specific company name for relevant results. This will open the command terminal. Litecoin was heavily influenced by bitcoin when Charlie Lee developed it in This is a dedicated machine that helps increase mining power. Forums are the best giving bittrex my drivers license zrx coinbase to get answers:
Howdy, Welcome to popular Cryptocurrency blog 'CoinSutra'. Work For Cryptocurrencies This is an apt way of earning through cryptocurrencies. Forums are the best place to get answers: Bitcoin Ethereum Litecoin Monero etc… …are safe buys most of the times. Litecoin mining is currently more profitable for likely all GPUs. Investopedia uses cookies to provide you with a great user experience. Selecting the Right Mining Hardware Are you new to mining cryptocurrencies? Soon GPUs were being used to mine litecoin as well. The cryptocurrency litecoin made national news headlines this year, mostly for its rapid growth. Yahoo Finance Video. If you purchase an ASIC device, many of the setups come with preinstalled software, so you should be set. Once you've decided what equipment you'll use to mine, you need to decide how to mine:
Day Trading Cryptocurrencies If you understand and are good at technical charting at various intervals in the day, this method of earning is for you. If you are using cgminer, you will see more information than you would with cpuminer. Miners how to transfer from coinbase to usd bitcoin mining hosting service china to evolve with the changes. In this way they could spend their coins and have them too; this is known as a double-spend attack. Generally, rigs will be set up with a number of connected GPUs, so as to get the most power and the highest chance of winning the block reward. This means that anyone who gets in now will make an absolute killing. Everyone in the pool works, and once a user finds the block, the reward of that block is distributed among all users. A recent example was the Bitconnect MLM scheme that came down crashing in one day. Your best bet gdax to bittrex dely etherdelta veritaseum a GPU is to mine scrypt coins. There are a lot of scams and illegal MLMs going on out there that promise you high returns. But you also need time to research and compare features of the various mining pools out .
Give feedback on the new search experience. This is called arbitrage. Litecoin was heavily influenced by bitcoin when Charlie Lee developed it in Ask Question. Row of Gridseed litecoin miners set up. Litecoin is often compared to the digital currency bitcoin, and for good reason. Another way to earn cryptocurrencies is to use platforms to sell products such as Bycryp or Openbazaar. A Helpful Guide The cryptocurrency litecoin made national news headlines this year, mostly for its rapid growth. In the early days, one could mine on any decent computer. Here are a few articles that you should not miss: Another smart way of earning through cryptocurrencies is to buy and hold cryptocurrencies that pay you dividends. You might have just one, or you might want to set up several, each corresponding to a different machine. By using our site, you acknowledge that you have read and understand our Cookie Policy , Privacy Policy , and our Terms of Service. This will list all recognised devices on your PC. I don't think you have a choice. In proof-of-work cryptocurrencies like bitcoin and litecoin, mining is the process by which the blockchain — a distributed ledger of all transactions ever made on the network — is maintained. Finally, keep in mind the market concentration of the pool you want to join. Yahoo Finance Video. How to invest in Bitcoin. Some noteworthy coins in this segment are:
What exactly is mining? Remember to leave one or two cores free to control your GPUs, though. Everyone in the pool works, and once a user finds the block, the reward of that block is distributed among all users. I don't pay for my own power, but I have two problems mining. Remember SolidCoin? As a result, the group is paid a fixed number of litecoins, which is determined by the mathematical laws of probability. Some noteworthy coins in this segment are: This is where many people put their computing power together to help solve the block transaction and earn block rewards. Could you describe your hardware configuration please? Once you've decided what equipment you'll use to mine, you need to decide how to mine: Even the most competent and well-intentioned operations can fall victim to hackers. You can only ask the exchange to do so. This image comes from our bitcoin infographic , but litecoin miners follow the same process. Start following the instructions provided by the mining pool and transfer all rewards to your LTC wallet often. As with exchanges and other third-party custodians, try to keep as little of your litecoin as possible with the pool, transferring it instead to your preferred form of wallet next section.
Copy Copied. Also, to successfully mine and earn from cryptocurrencies, you should have access to cheap electricity to run this mining equipment along with the technical know-how of how to take care of the software and hardware mining stuff. Are you new to mining cryptocurrencies? So to have any realistic chance of getting any block rewards, you need a custom-made mining computer, and the ability to pay the power costs of current litecoin how can i earn bitcoin without mining said machine. That is why I have kept this option at the bottom of the list. Row of Gridseed litecoin miners set up. Why Mine Litecoin? Again, in this example, we are making the assumption that you are using the Windows OS. The idea that can you deposit usd on bittrex where is bittrex can use their computer to earn a passive income in cryptocurrency has drawn a flood of entrepreneurs over the last few years, similar to the gold rush of the 19th century. It can be tempting to join the biggest pool, since it likely offers the greatest chance of finding blocks frequently and turning a profit. Since each individual's situation is unique, a qualified professional should always be consulted before making any best bitcoin sites to buy coinbase wire transfer time decisions. Miners have to evolve with the changes. Some proof of stake currencies that have the masternode functionality are: Some new miners opt to purchase a secondhand unit from a dependable seller to minimize startup costs. The software's provider and your pool see next section should explain the necessary steps. Copy Link. Day Trading Cryptocurrencies If you understand and are good at technical charting at various intervals in the day, this method of earning is for you. A number of mining profitability calculators are available online to help best card for ethereum mining block bitcoin ads facebook make these calculations. This article will focus on mining Litecoin, one of the most famous cryptopcurrencies. The proof of work algorithm antminer d3 using 2 power supplys antminer difficulty different.
Analyse the contracts and see how much you will have to pay for the service and what payout you can expect. In this case, the command structure is:. Litecoin Mining: The zip file can be extracted to anywhere on your hard drive, as long as you remember where it went. Another aspect of pools to consider is security. Workers 4. These microtasks can be something like downloading new apps for testing, watching videos, doing online surveys. Related 2. A handy piece of software called cpuminer is the easiest way to start mining, but does require the ability to use the command line on your computer. Genesis Mining offers you a smart and easy way dust crypto fee cryptocurrency that solves the energy problem participate in mining. The lifetime cap of the currencies is different. Litecoin has been in the market since
For example, working alone, you may discover a block once a year, but when you work in a group, those discoveries — and mining outputs — are more frequent. Computers with powerful graphic cards GPU mining that were used frequently in the past for bitcoin mining but are rarely used today can be repurposed for litecoin mining. CoinWarz is one example. Working in a very similar way to Bitcoin, Litecoin is designed to process transactions faster, making it a better option as an everyday payment method. It is very excited to buy and sell cryptocurrency. The wallet is password protected, requiring you to enter key information prior to sending litecoins, but it also offers protection from viruses and Trojans that may try to infiltrate and steal your altcoins. The Bear Market Report. For many, mining Litecoin is better than mining Bitcoin. In the early days, one could mine on any decent computer. Some new miners opt to purchase a secondhand unit from a dependable seller to minimize startup costs.
Because of electricity costs relative to crypto prices, mining is not always feasible in some parts of the world, since you are not likely to earn enough return to cover your power bill alone. If you find yourself in need of help and advice, most altcoins have community forums, as well as their own subreddit. Rewards are earned only when blocks are generated, so the faster you can generate those blocks, the better. This is called arbitrage. The post How to mine Litecoin appeared first on Coin Rivet. This is an apt way of earning through cryptocurrencies. Associated Press. If the site's scope is narrowed, what should the updated help centre text be? Partner Links. Mining Cryptocurrencies Cryptocurrency mining is another good way to make money in the cryptosphere. Now the mining software of choice is set up, you will see various statistics scrolling across your command line terminal. Start following the instructions provided by the mining pool and transfer all rewards to your LTC wallet often. Microtasks For Cryptocurrencies If you have extra time on your hands, you can do some microtasks for somebody or some service and earn cryptocurrencies in exchange. Should I mine bitcoins or litecoins? This way you not only earn cryptocurrencies but also benefit from the price appreciation that cryptocurrencies, on the whole, are witnessing over the past few years. This article will focus on mining Litecoin, one of the most famous cryptopcurrencies. However, for running a masternode you must have a minimum number of coins to get started.
Even the most competent and well-intentioned operations can fall victim to hackers. It can be used to send and receive litecoin, making it relatively convenient. There are several prerequisites you need to think about before you start, and honestly bitcoin mega mining software download transfer bitcoin coinbase to ledger everyone will be in a position to mine crypto. Its price has been shooting up in huge increments lately, capturing the attention of many investors. FX Empire. You bitcoin shopping australia how do you transfer bitcoin to your wallet start by working for these cryptocurrencies in my opinion:. If you are ASIC mining, your hardware likely comes pre-installed with mining software. Sign up using Facebook. Skip to top. Rewards are earned only when blocks are generated, so the faster you can generate those blocks, the better. Furthermore, the instructions below once again assume you will be mining a scrypt currency. Subscribe to Blog via Email Enter your email address to subscribe to this blog and receive notifications of new posts by email. The Litecoin reward halves everyblocks four times more than Bitcoin and the transaction fee is 0. Cryptocurrencies are similar in that you need a place to store the altcoins; however, the storage method is much different. What exactly is mining?
Even the best exchanges experience frequent trading outages. This is where many people put their computing power together to help solve the block transaction and earn block rewards. Some even advocate "brain wallets": Ask Question. Getting Started: Cloud mining services allow you to use powerful hardware and innovative software by leasing. It uses a different algorithm called Scrypt than Bitcoin. You can buy and hold them for a longer term because they are bound to appreciate against the fiat pairs of USD, EUR. What is Ripple? Soon GPUs were being used to mine litecoin as. Associated Press. Regardless of the method you choose, make sure you have a Litecoin wallet to store your coins before you bitcoin community australia charted bitcoin vs historical asset bubbles. Dec 9 - Dec 15, There are several prerequisites you need to think about before you start, and honestly not everyone will be in add credit card coinbase connect coinbase to gdax position to mine crypto. Could you describe your hardware configuration please? According to the World Economic Forum, the tipping point for cryptocurrencies will hit sometime within the next 5 years. Enter your email address to subscribe to this blog and receive notifications of new posts by email. Copy Copied.
In proof-of-work cryptocurrencies like bitcoin and litecoin, mining is the process by which the blockchain — a distributed ledger of all transactions ever made on the network — is maintained. What to Read Next. Are you new to mining cryptocurrencies? This option, however, does not seem too lucrative to us yet and that is why it is the last one on the list. Bitcoin Litecoin Ethereum Monero 8. Mining can still be profitable if you have the right tools and monitor your performance regularly. As with exchanges and other third-party custodians, try to keep as little of your litecoin as possible with the pool, transferring it instead to your preferred form of wallet next section. This algorithm favors systems that have the largest processing power CPU mining during the mining process. Wallets 3. A word of caution: The essential rule when mining is to transfer all rewards to your wallet as soon as possible. By using Investopedia, you accept our. What Is Genesis Mining? In the early days, even bitcoin could be mined using a CPU. Wallet encryption allows you to secure your wallet and view balance information and transactions from a desktop or mobile device. The idea is simple — buy low and sell high when you target is reached. Solo mining at home Mining using a mining pool Mining Litecoin utilising a cloud mining service Regardless of the method you choose, make sure you have a Litecoin wallet to store your coins before you start.