Bitcoin's great rise into the mainstream opened up the gates for other cryptocurrencies to grow and expand. Many of these cryptocurrencies have already made some sort of a name for themselves. A lot of people appreciate these so-called altcoins for their mining and trading value. One of the more popular of such altcoins is called Litecoin, and today I would like to tell you about all the different Litecoin mining software options.
In this tutorial, we’ll cover some of the basic information first (basically, what Litecoin is and why you should care) and then move on to the different Litecoin miner software (Easy Miner, Gui Miner, etc.).
We’ll talk about the pros and cons of this software, how to use them, and at the very end will try to figure out the best Litecoin miner software there is. Also, I’ll share a few tips on how you could pick software that suits you the most.
In its simplest form, Litecoin is an almost identical spin-off of Bitcoin (at least technically speaking). It was one of the earliest altcoins, coming into existence in mid-2011.
The coin was created by a certain ex-Google employee named Charlie Lee. He created the cryptocurrency as an open-source project so that it could be decentralized and independent.
Today Litecoin holds the 7th place in the market position and as of the time of writing this article is valued at about $55. It reached this price point after the great crash of crypto prices back at the beginning of 2018.
Why Should You Care About Litecoin?
From the graph above we can see that Litecoin is indeed one of the more active altcoins in the industry. However, why should anyone care about it when there are crypto stars like Bitcoin and Ethereum?
Well, first of all, Litecoin is considered to be Bitcoin’s biggest rival. Why? Mainly because it has almost identical features and can perform similar tasks - only a lot faster. Currently, in the market, there are four times more Litecoins than Bitcoins. This, in turn, leads to Litecoin being four times faster than Bitcoin.
If you’re an average person looking to only make transactions and not delve into anything else, then Litecoin is heavily superior to Ethereum in this topic. They do kind of look almost the same at first glance, but Ethereum is great for creating contracts and doing similar tasks, while Litecoin is the coin to go to when thinking about trading and other various transactions.
Litecoin Mining Software
As with a lot of other cryptocurrencies, Litecoin has quite a few mining software. These differ in many aspects starting from their mining speed and ending with security measures.
I’m going to list and overview some of the best or most well-known Litecoin mining software. These aren’t arranged in any particular order.
Easy Miner is a well-known and appreciated Litecoin mining software in the cryptocurrency community. It is an open-source (meaning that you can customize it all you want) and free - there’s no entry fee to start using Easy Miner.
Easy Miner features an interactive and easy to use control panel and offers real-time statistics. It allows you to check the hash rates, shares, and other similar information at any given time.
What’s super cool about Easy Miner (as a Litecoin miner software) is that it has an inbuilt, custom wallet and extensive online chat and support. This makes the Litecoin mining process *that* much easier and more fun to use.
Easy Miner has built a reputation of a trustworthy and likable Litecoin miner software, so if you’re looking for a software to start mining, definitely check Easy Miner out.
MultiMiner isn’t as well-known or widely accepted as our previous entry, but it is quite versatile in the way it allows you to switch individual devices while maintaining the ability to manage any mining appliances within your network. To give you an example, imagine that you wanted to switch from a CPU mining rig to a GPU powered one - MultiMiner will maintain all personalization you’ve done up to that point in a separate, dedicated network.
MultiMiner might not be as intuitive or well optimized when compared to other Litecoin mining software in the world, but it’s quite apparent that a lot of work and dedication has gone into building this software. If you’d like to try it out yourself, don’t hesitate and go for it!
GUIMiner Scrypt is a fork of GUIMiner. This fork was specifically designed with beginner miners in mind to make the process of starting in cryptocurrency mining more simple and easier to approach.
GUIMiner is a CPU/GPU Bitcoin miner designed for Microsoft Windows operating systems. The GUIMiner Scrypt fork was created to support scrypt mining, i.e. Litecoin, Dogecoin, etc.
The GUIMiner Scrypt interface is simple and easy to use. It might not be the most aesthetically pleasing software out there, sure. However, it does its job not only in being a good Litecoin mining software but also in being a good gateway for beginner miners.
As the name probably suggests, this is a CPU-exclusive miner. It is a decent Litecoin mining software, except that it might be a bit difficult to understand and get around in if you’re an absolute beginner in the field of crypto mining.
The CPUminer has received a few updates since its release, one of them being a hashing speed upgrade. Users report being able to perform the same hashing tasks at twice the speed (with little changes on the resource consumption), which is great for anyone trying to find the best Litecoin miner software!
CPUminer is available on Windows, Linux and Mac OS, which makes it a viable option if you’re struggling to find a decent mining program for your operating system.
If you’re looking for Litecoin mining software, CGminer Litecoin might be a good choice. It’s one of the more popular miners in the market, even though there’s not much information regarding its functions online.
When searching for CGminer Litecoin, the best place to start would probably be bitcointalk.org forums - there’s a thread with all of the available information and a download link provided.
CGminer Litecoin is openly sourced, which means that you can add or configure any options that you might want or need.
Awesome miner is a less known Litecoin mining software than the others on this list, but it might also be a decent choice. This software has a user-friendly interface and is comparatively easy to use and get around.
The Awesome Miner offers multiple mining engines, a variety of mining pools to choose from, an ability to switch between web and mobile interfaces, various informative notifications, etc.
This Litecoin mining software is quite extensive and well-developed, and the ability to switch between interfaces in an optimized, fluid way is a nice bonus.
How to Pick the Right Software?
It's no secret that there is a lot of Litecoin mining software in the market. This list touched on just a few, more notable ones - with a little bit of searching you could find double or triple the amount that is covered here.
So how do you choose when you have so many options? Well, while looking for the best Litecoin miner software, you should keep a couple of things in mind:
- Interface. You’re probably thinking about mining Litecoin for longer than a day or two. Looking long-term, one of the important aspects of any good Litecoin mining software is a welcoming interface. You probably wouldn’t want to spend countless hours looking at a clunky and confusing dashboard trying to figure out where things are.
- Security. Security should be the top priority when trying to find a Litecoin mining software. A program might have a flashy and gamified HUD, top mining and hashing speeds, constant customer support and be free - at the end of the day, if it’s hacked and all of your earnings are stolen, what difference does it make?
- Support. Customer support is also important. What if you run into a bug or a problem that you just aren’t able to solve? Sure, you could spend hours on end trying to find a solution on online forums and YouTube videos, but it’s much nicer to be able to get help with just a click of a button.
- Mining speed/hash rate. If a Litecoin mining software takes three years to mine a single coin, that might be a good indicator that it isn’t well optimized and you should probably be looking somewhere else.
- Updates. Finally, good Litecoin mining software will have an extensive log of constant updates and improvements to its various aspects. Whether its an update of some technical parameters or a visual haul - it’s always nice to see that the mining program is actively being taken care of.
These are just a few key points that you should consider when choosing a Litecoin mining software. There are plenty of other factors to consider (wallet support, different operating system optimization, and availability, payout systems, etc.). The above-listed ones, however, are a good place to start.
I’ve Got My Software - Now What?
So - after spending what seemed like months searching for the perfect Litecoin mining software, you finally have it installed and are ready to dive straight into the mining.
From this point onwards, the process should be smooth and without too many hurdles. Most software will work by themselves without a need for any additional interference on your part.
It would probably be a good idea to keep an eye on your software, though. Study how it operates, try out different functions. If the mining program is openly sourced (and most of them are) you have all of the options in the world to customize and experiment with it as much as you like.
Also, keep an eye out for updates, changes, improvements, etc. It’s beneficial to know what (and why) is happening with your software. Maybe something bugged out completely and it would be a good time to search for a new Litecoin mining software?
At this point, you should have managed to form a general idea on the different Litecoin mining software and their pros and cons. If some of them stood out for you - great! That means that you're probably already decided and know what you want from a cryptocurrency mining software. But there are a few things you should keep in mind before picking one and sticking with it.
Before deciding on software, give it some time. Read the changelogs, forums, talk to people that have used or still use the software that you’re thinking about downloading. In this case, third-party opinions and constructive input might be the things that make it or break it for you when it comes to the actual decision making. People are usually keen on helping, so don't hesitate to ask!
One good rule of thumb when feeling indecisive about software is to pay attention to its security. If a mining software looks awesome, works intuitively and has all the functions that you could ever need but you're still not sure, check out how it handles and deals with security. That should always be the point that you pay the most attention to.
Another thing that you could look for in software is if it supports multiple cryptocurrencies and altcoin mining. The coin that you’re mining might take a heavy hit in price (or you might simply want to switch your mining options), so it’s a good idea to think two or three steps ahead and plan accordingly. Most of the Litecoin mining software supports other coin mining, too.
Remember, though, that you aren’t tied to a single piece of Litecoin mining software for the rest of your life. If you don’t like something about the program that you’re using, you can always throw it out of the Window (see what I did there?) and simply find a new one.