What is Monero?

If you are interested in looking at all the altcoins available and find yourself asking “what is Monero all about?”, then this article will help you gain a better understanding.

What is Monero?

What is Monero?

Monero (XMR) is a cryptocoin launched in April 2014 that runs on a all operating systems, including Windows, macOS , FreeBSD, Linux and Android. Like all cryptocurrencies, Monero records transaction in a public ledger.

What sets Monero apart from other crypto-currencies such as Bitcoin, Litecoin and Ethereum is the focus on privacy by designing it to obscure details of the transaction by hiding the identity of the sender, the recipient and the amount of the transaction made.

The negative aspect of this privacy is that Monero is attractive to those wishing to use crypto-currencies for illicit transactions.

Monero also uses a different algorithm to most Cryptocurrencies, CryptoNight proof-of-work hash algorithm, which does not allow for users to trace the transactions in the ledger back, which is possible with currencies such as Bitcoin. Even the actual amount of the transaction is shown as less than the actual amount, and no record of sender and buyer is available for public view.

This is known as an opaque blockchain.  Users need wallets to transact with Monero which can be downloaded on the currencies website at https://getmonero.org

XMR Mining

Monero Mining Hardware

Mining XMR (Monero) is considered to be more profitable than many of the other cryptocoins and can be done by anyone with a CPU or GPU. The software required for XMR mining can be found on XMR Stak (https://github.com/fireice-uk/xmr-stak/releases).  More information on XMR mining will be discussed in follow up articles as well as information on the Monero mining hardware required to build a rig.

XMR Mining Pools

A mining pool is where a group of crypto-miners combine their resources to mine more blocks at a faster rate sand see a quicker return on their investments.  Mining pools can be focused on a single currency available for miners to choose or multiple currencies. There are a wide variety of XMR mining pools to choose from. Many of the bigger multi-pools, such as Nanopool, also support Monero mining.

These pools use a variety of payment methods such as PPLNS and PPS+.

See our previous articles on mining pools for Ethereum, Litecoin and Dogecoin

Monero Cloud Mining

Monero Cloud Mining

Cloud mining is when miners lease the Hardware and software from a provider instead of owning their own rig. This is very different to pool-mining as the resources are not combined in monero cloud mining. Most cloud-mining providers will allow you to mine for any currency you choose as long as they have the hardware and software available.

Monero Exchange

Monero Exchange

Exchanges allow you to trade one cryptocurrency for another based on the current value of the coins.  Not all exchanges will trade Monero, so you’ll have to find a reputable Monero Exchange before you can start trading.

Because of the privacy element of Monero, it has been linked to illegal incidents such as the Ransomware scam Wannacry where the operators converted their takings into Monero.  Monero has seen substantial growth since its launch, but much of this growth us been linked to the less savoury elements of the internet such as drug dealers (https://www.wired.com/2017/01/monero-drug-dealers-cryptocurrency-choice-fire/) and other cybercriminals (https://cryptocurrencynews.com/daily-news/altcoins/monero-cybercriminal-altcoin/).

Litecoinpool vs F2pool

Choosing the right pool to join when mining for cryptocurrency is very important to ensure you get what you expect and do not have any unpleasant surprises down the line.

Most miners will calculate their expected profits in advance, based on their rigs and power costs  and as different pools offer different payment methods, the pool chosen affects the mining outcomes.

Some pools pay for Uncles and some do not, some charge for transactions and some do not.  In this article we will look at two of the biggest pools that offer Litecoin mining, Litecoinpool vs F2pool.

Litecoin

Litecoin is knows as the little brother of Bitcoin, launched in 2011 it is almost identical to Bitcoin but runs on Scrypt instead of SHA_256 resulting in a decreased time to solve blocks. Litecoin has about 55 million coins in circulation and has a market cap of  $ 20,000,000,000.

Litecoinpool vs F2pool

Litecoinpool vs F2pool

Litecoinpool (https://www.litecoinpool.org) as the name suggests, allows miners to only mine for Litecoin, while F2pool (https://www.f2pool.com/help) is what is known as a multipool and allows miners to mine for a variety of different currencies in addition to Litecoin, such as Bitcoin, Ethereum and Dash.

Litecoinpool was started in 2011, just after the launch of Litecoin, and was the first Litecoin mining pool. Litecoinpool currently has more than 40% of the active Litecoin miners as members. Litecoin pool has a server presence in eight different locations across the world.

F2pool was started in 2013 and was originally a Chinese-only mining pool and they have only recently added an English Interface. Also known as “Discus Fish”, F2pool has servers in Beijing, Qingdao, Guangzhou, Hong Kong and the United States.

Both Litecoinpool and F2Pool use  Stratum mining protocol. F2pool is reported to control about 51% of the Litecoin hashrate (and about 52% of all the mining hashrate across various cryptocurrencies).

In terms of rewards, both F2Pool and Litecoin calculate on the PPS (pay-per-share) system, which means you get paid for what you contribute and the luck and risk factor are removed.

Litecoinpool has a feature which allows for rewards from merged-mining (when two cryptocoins based on the same algorithm are mined at the same time) to be paid out as well, and has no transaction fees.

F2pool offers 1000 free Dogecoin’s for every 1 Litecoin mined and also supports merged-mining with some coins. Litecoin has a calculator on the site to assist miners with their forecasting (https://www.litecoinpool.org/calc) and an easy to use guide for beginner miners, including a video on how to get started:

F2pool runs at a Litecoin hashrate (number of computations per second) of 19.4 TH/s (19.4 x 1,000,000,000,000) while Litecoinpool runs at 141 TH/s, almost 8 times faster. Litecoinpool boasts over 10,800 active users and more than 42,000 workers.

Both sites offer extensive statistics for miners, however the stats for F2pool are only accessible by registered miners of the pool.

Final Thoughts: Litecoinpool vs F2pool

Both Litecoinpool and F2pool are well-established, reliable pools for the mining of Litecoin’s and both are a good choice for a miner, depending on their requirements. Both pay out on a regular basis and the biggest difference between them is a multi-pool versus a single currency pool.

 

How to Mine Dogecoin

Dogecoin is a peer-to-peer cryptocurrency that was launched as a joke coin in December 2013. Approximately 100 billion Dogecoin’s are currently in circulation and the coin boasts a market capitalisation of over $300 million.

As with other crypto currencies, it is possible to earn money by mining for Dogecoins. I this article we’ll focus specifically on how to mine dogecoin, including the hardware and software you’ll need.

If you’re interested in learning about how you can profit from trading crypto currencies, you might want to consider enrolling in a crypto currency trading course

How to Mine Dogecoin

Mine Dogecoin

Many people think that it is easier to get started mining Dogecoin compared to other coins as it is less compute intensive.

  1. Check that you have the right hardware
  2. Download mining software
  3. Get started!

Hardware requirements for Dogecoin Mining

As with all cryptocurrency mining, a reliable source of cheap electricity is the most important resource and then, with just a PC and access to the Internet, you can start Dogecoin mining.

The hardware requirements needed to mine Dogecoin are very similar to that needed to mine Litecoin, so should you have a rig that is suitable for Litecoin it can easily be converted to a Dogecoin rig.

  • GPU – It is possible to mine for Dogecoin without a graphics card, but the process will be slow and you will not see the results as fast as you would if you included a good graphics card in your setup.

    • Many miners believe that the graphics card should be the most important element of your mining rig. Graphics cards recommended for a start-up rig have a capability of running at 450 kh/s.

  • Power – The next critical element of your rig is an adequate power supply. If you only have one graphics card, your power supply will need to be a minimum of 750 watts, increasing with every graphics card added (four graphics cards will require at least a 1300 watt power supply).

  • Motherboard – The third crucial element is the motherboard. Ensure you have enough slots for the number of graphics cards you have and if you plan to expand your rig over time, make sure the motherboard allows for growth.  Other elements that you will need to build your rig are the CPU’s (minimum of 200 kh/sec is advised), RAM and hard drive with operating system.

Software requirements for Dogecoin Mining

Once you have your rig set up you need to download a wallet that keeps your Dogecoin’s on your computer for you. You can find a wallet on the Dogecoin.com site (Dogecoinqt.exc), which once downloaded needs to be synchronised with the Dogecoin network.

You will also need to download mining software, such as CG miner, Minergate, BFG Miner, CudaMiner. Other options and a description of the software can be found here.

Once you have installed the software and created files where necessary, you are ready to start mining.

Mining Pools

Many miners prefer to join a Dogecoin mining pool rather than mine solo.

Combining the resources of your rig with other miners increases the speed at which transactions can be solved and payments are recognised. The downside of pool mining is that the profits are divided amongst all the miners that take part and the pools will often take a management fee as well.

However, with the amount of miner’s currently active across all the cryptocurrencies, unless you have a very powerful rig, the results of mining alone are often not profitable as you cannot compete with the mining pools.

Dogecoin Mining Profitability

To calculate the profitability of Dogecoin Mining, use the calculator found at https://whattomine.com/coins/6-doge-scrypt.

Nanopool vs Ethpool – Four areas for comparison

Nanopool and Ethpool are both well-established mining pools that cater for the cryptocurrency Ethereum. Mining pools are a popular way for miners of cryptocurrencies to combine their resources and increase the number of blocks solved and their chances of generating profits.

In this article we’ll consider Nanopool vs. Ethpool.

Although Nanopool and Ethpool are both popular pools there are some substantial differences between the two and understanding these differences can assist a a miner in choosing a pool that meets his needs and can help him achieve his desired outcome from mining.

Recall, there is a large and growing number of pools available, so check out our previous post on the top ETH mining pools, and on PPS+ vs PPLNS payment methods to make sure that you’re fully up to speed on what’s happening in this space. 

Nanopool vs Ethpool

Currency options

NanopoolNanopool, found at https://nanopool.org, allows miners to choose from seven different currencies to mine (Ethereum, Ethereum Classic, Siacoin, Zcash, Monero, Pascal and Electoneum). The interface on the landing page is easy to navigate and gives high-level information regarding each of the cryptocurrencies available.

EthpoolEthpool, http://ethpool.org, offers miners the option of Ethereum as a choice of currency only. As we will be looking at the difference between Nanopool and Ethpool, we will focus on what Nanopool offers for Ethereum miners only.

Payment schemes

Ethpool calculates earnings on a unique basis that can lead to rewards three times larger than other mining pools.  When a miner submits a share, their credit will increased by the difficulty of the share.

The miner with the most credits will win the next mined block and his credit reset to the current credits less the number of credit of the miner who came “second”. Uncles are also paid on top of full block rewards.

Ethpool’s fee rate is 1% and rewards are paid out immediately after 10 confirmations.

We’ve looked in more detail at the Ethpool payout scheme in this article

Nanopool uses a more traditional PPLNS (Pay per last N Shares) payout scheme to calculate rewards. This means that miners get paid based on the number shares the pool finds and has an element of luck with regards to the outcome. The fee for belonging to Nanopool is 1% and payouts happen several times a day (with a minimum payout of 0.2 ETH.

Does Nanopool pay uncles?

One question that people often as is “does Nanopool pay uncles?” Although the Nanopool site does not specifically mention the payment of uncles in their support blogs or payment breakdowns, various forums confirm that Uncles are paid by Nanopool. i.e. here.

Activity

Nanopool has approximately 85,500 active miners and more than 232,000 workers active in the pool at any given time.  The average hashrate is 32,332.1 Gh/s and  about 850 blocks are mined every 24 hours.

Ethpool is smaller with about 1040 active miners and approximately 14,000 active workers. Approximately 96 blocks are mined over a 24 hour period and the average hashrate is 2.7 th/s.

Other

Nanopool is easy to navigate and give’s detailed pool activity statistics at any given time. Clear and simple to follow instructions are available  for first time miners to assist them to join the pool can be found under the FAQ section, including a section on the hardware required to mine Ethereum. The API is free and runs on CORs and the site includes download links for the preferred clients.

Ethpool offers excellent support to miners, including full stratum support and warnings for invalid shares.  Detailed statistics per miner and worker are available.

Final Thoughts: Nanopool vs. Ethpool

When choosing a mining pool to join, it is important calculate in advance what you can expect to earn and then understand how the different payout methods can impact this. There are many sites available on the internet with calculators.

Some of the payment methods and pools benefit long time miners that stay with one pool and some benefit miners that jump from pool to pool.  You may also wish to mine different cryotocurrencies, but stay with a single pool, where multi-currency pools such as Nanopool have an advantage, or focus on a currency and stay with a pool that over time will show you steady growth, such as Ethpool.

Litecoin Mining Pools (2018)

Crypto currencies have seen a huge surge in value over the past year, with interest continuing to rise sharply.

This article give a brief overview of Litecoin, before looking more specifically at how to start using a litecoin mining pool.

What is Litecoin?

Litecoin

Litecoin is a peer-to-peer cryptocurrency that works on open source blockchain technology.

Similar to Bitcoin and Ethereum, all Litecoin transactions are recorded on a public ledger and the need for middleman (such as a bank) for the fulfilment of the transactions is eliminated. The transaction takes place directly between two parties saving on time and costs.

Launched in 2011 by Charlie Lee, Litecoin was considered to be the “ Silver to Bitcoins Gold”, although there are some substantial differences due to the hashing algorithm and the GUI (Graphical User Interface). Litecoin showed phenomenal growth and by November 2017 had a market capitalisation value of more than  $ 4 million.

Currently Litecoin is considered to be in the top 5 of all Cryptocurrency Market Caps. There are three basic differences between Bitcoin and Litecoin; Speed, number of coins and hashing algorithm.

Litecoin generates blocks about four times faster than Bitcoin, resulting in more blocks confirmed per transaction. This is due to the activation of SegWit (Segregated Witness).

The number of coins released into market define’s their value, on the same principal as a real world currency. The limit for the number of available Bitcoin’s is 21 million, while Litecoin has a limit of 84 million.  This means a Litecoin has less value per coin than Bitcoin but is still considered a scarce resource.

The biggest impact of the different hashing algorithm is felt by miners. Bitcoin uses a Secure Hash Algorithm while Litecoin uses a memory intensive algorithm. Miners need to have different equipment to be able to mine Litecoin instead of Bitcoin.

For more information on Peer-toPeer cryptocurrencies and the differences between Bitcoin and litecoin check out this article.

The following video will also assist with understanding the fundamentals and origins of LItecoin:

Best Litecoin Pool 2018

We’ve written in depth about ethereum mining pools in the past, and while there are some ETH specific pools (like Ethpool and Ethermine) there are a number of other pools that will also feature on our list here. Similarly, there are a handful of pools that are specific to Litecoing.

Some popular Litecoing mining pools include:

  • F2Pool
  • Antpool
  • Litecoinpool.org

These pools use a variety of payments methods, such as PPS and PPLNS.

Until earlier this year, F2Pool was the largest Litecoin mining pool, but has been recently been overtaken by Antpool (both of which mine for Litecoins, Bitcoins and other cryptocurrencies).

Regardless of the size of the pools, Litecoinpool.org seems to be the most popular Litecoin mining pool currently in operation.

Working on a PPS payment method, most miners find the returns on investment in this pool the best. Litecoinpool.org is also the longest standing Litecoin mining pool, coming into operation in 2011 shortly after the launch of the cryptocurrency. For more information on how to start mining on Litecoinpool.org, check out their beginners guide.

Also check out our post on dogecoin mining pools for a broader understanding of the topic.

Litecoin Mining Pool Software

Litecoin can be mined on lower specification hardware than is needed to mine Bitcoin, making it possible for owners of standard consumer grade computers to become miners.

Litecoin mining requires a ATI/AMD video card and the higher the quality of the card, the more Litecoins that can be mined. Once you have determined the KH/Sec that your card can get, you can calculate your returns and possible income.

You will also need to download a Litecoin Wallet and the Litecoin GUI Miner.

For some guidelines on how to mine Litecoin, watch the following videos:

Or,

Litecoin is considered to be one the most promising cryptocoins currently available and has seen a huge surge in value since its launch in 2011.

Litecoin Mining Hardware

Litecoin is a popular alternative to Bitcoin (referred to often as Bitcoins little brother) and although it is developed on the same open source code as Bitcoin there are some fundamental differences between the two.

The biggest difference for miners of cryptocurrencies is the speed at which Litecoin generates blocks. Litecoin generates and processes blocks about four times faster than Bitcoin does, resulting in a larger number of completed transactions over a period of time.

There are also four times as many Litecoin’s in circulation compared to Bitcoins ( 21 million versus 84 million) so the value of a Litecoin is substantially less than that of a Bitcoin.

This article will provide an overview of the litecoin mining hardware required to get started.

Mining Lining

The biggest difference for miners between Bitcoin and Litecoin is that the hashing algorithm used to solve a block is different. Bitcoin uses SHA-256 (Secure Hash Algorithm 2) while Litecoin uses a  Scrypt.

Miners make money when their computers use their CPU to solve a block and coins are paid out as a result and as Litecoin solves transactions differently to Bitcoin, different mining rigs (Hardware and Software) are required to mine Litecoin.

For miners wishing to mine for Litecoin, there is a calculator that can help you determine the profitability of mining for Litecoin before you start.

Litecoin Mining Hardware

Litecoin Mining Hardware

Obtaining the right hardware to mine Litecoin is essential and  you can choose to build your own rig from various parts or purchase an ASIC script mining rig as a ready to go unit.

Building your own Litecoin mining rig (see guidelines at here) is the less expensive of the two options, but the most time consuming. It can be done by starting with a basic home computer with a motherboard, power supply, a 2.8 GHZ processor and memory of at least 4GB.

The components bought separately on Amazon will cost you about $530.  Building up your own rig can be difficult as you need a minimum of two graphics cards (four to five is however recommended) to be connected.

Your system RAM needs to be at least as much the RAM of the combined graphics cards. A good quality graphics card will set you back about $200 each.  To build a rig on your own will cost you a total of approximately $1332.00 if you have four graphics cards. (Based on the current prices on Amazon excluding shipping)

Antminer, available on Amazon

Alternatively you can purchase a ready made Scrypt ASIC mining rig such as the Antminer (which is recommended as the best Litecoin mining rig available), also available on Amazon for about $5500.00.

The advantages of buying an already constructed rig is the speed at which you can start mining as well as the assurance that the rig will work as promised. However the cost is greater than when building your own rig. Potential miners could also investigate the option of cloud mining instead of owning a rig.

As Dogecoin is based on Litecoin, it is possible to use litecoin mining hardware to mine Dogecoin. Read the full article for more info on how to mine doge

Mining Pools

Once you have a mining rig, you should look at the possibility of solo mining versus joining a Litecoin mining pool (where processing power of a group of miners is combined to solve more blocks faster),such as litecoinpool, https://www.litecoinpool.org/.

There are many mining pools available for you to join.

PPS+ vs PPLNS – Payment Options for Mining Pools (2018)

A mining pool is when a group of cryptocurrency miners combine their processing power to get quicker mining results.  The amount of processing needed to compete with mining pools has become very expensive and solo mining is no longer seen as viable an option by many.

In a mining pool, contributing miners are paid in proportion to the amount of processing power they contribute. The more powerful your rig, the more you’ll earn.

INTERESTED IN JOINING A CRYPTO MINING MASTERMIND? REGISTER YOUR INTEREST HERE

Payment for the contribution made can be calculated in different ways depending on the type of pool the miners have joined. Each pools sets their own payment scheme, you can read more about the ethpool payout scheme. In this post we will consider some of the options including PPS+ vs PPLNS.

If you’re interested in learning about how you can profit from trading crypto currencies, you might want to consider enrolling in a crypto currency trading course

PPS+ vs PPLNS

PPS

The most common calculation is PPS (Pay per share) where there is a standard payout for each miner based on the amount of processing power (hashtag rate) contributed. The mining pool will pay a set rate based for each completed hash, so the more power your machine has, the more you contribute, the greater your earnings. To get an estimated idea of what you can earn, refer to https://bitcoinsinireland.com/what-is-pps-in-bitcoin-mining/ for more information.

The earned amount per hash is dependant on the difficulty at a certain point in time. The difficulty is calculated on the overall hashing power of the global network.  PPS is a popular choice by miners because of the ease in which potential earnings can be calculated.

PPLNS

The popular alternative to PPS is PPLNS (Pay Per Last “N” Shares). This payment calculation generally gives higher payout over a long period of time, but has a level of unpredictability, or luck involved.

The PPLNS method calculates payments based on the “n” (Number) of shares that the pool finds. A pool may have a consistent number of blocks over a period of time, or may have large variances, which affects the calculation and ultimately the payout.

As you earn based on the blocks found during the time that you mine, you may see large variances in the payments. For some stats on the PPLNS payments, visit https://bitcoinsinireland.com/what-is-pplns-in-bitcoin-mining/.  The amount of processing power you have will have a significant impact on your earnings as your power is relative to the size of the pool instead of there being a direct proportion between input and output. If your mining rig is not as powerful as some other miners, choosing a pool that pays on PPS would be more beneficial.

There is more info on the PPLNS payment method here.

PPS+ payment method

A third Payment method PPS+ (Pay per Share Plus) was introduced towards the end of 2016 which is a combination of the PPS and PPLNS payments. Miners are paid for each share that they submit, giving them the predictable payment method of PPS, but an additional transaction fee will be paid based on the PPLNS calculation method.

This gives miners the best of both worlds as well as the potential to earn more. For a clear comparison of the payment methods see the ViaBTC page at, https://pool.viabtc.com/help/pricing/.

For clarity, many of the pricing discussions mention Solo. This is when a miner is allocated the full payment for the block they mined alone.

Final Thoughts: PPS+ vs PPLNS

Different mining pools offer different payment options. Some pools give you the option to choose your payment method, such as ViaBTC and some have a standard payment methods for all the miners in the pool so it is important to check before committing your resources. You can also use a mining calculator to get an estimate of how much you can earn.

Check out post on the top ethereum pools for 2017 for more info on the different pools.

In short, be prepared to do your homework ans shop around before you join a pool if you want to get the maximum return from your investment in mining hardware.

Top 5 Dogecoin Mining Pools 2018

Solo mining has become increasingly difficult as worldwide interest in cryptocurrencies has grown. More and more people are now looking to mining pools to help improve their mining capability.

But with so many available, how do you decide which is best?

In this article we’ll cover some of the top Dogecoin mining pools for 2018, and the pros and cons of each.

INTERESTED IN JOINING A CRYPTO MINING MASTERMIND? REGISTER YOUR INTEREST HERE

Quick recap on Dogecoin

Dogecoin is one of the  altcoins that launched following the success of Bitcoin which sparked a global interest in cryptocurrency.

Dogecoin was originally launched as a joke coin with the image of Doge, famous from online meme’s, as its logo. Dogecoin had unexpected success and now boasts a market capitalisation of over $2 billion  and is popular among investors and miners.

Dogecoin is currently the third most popular cryptocurrency after Bitcoin and Litecoin in terms of volume of transactions.

Mining for Dogecoin

As with other cryptocurrencies, Dogecoin mining requires the miner to have an appropriate mining rig.

Dogecoin is based on Litecoin so the mining rig needs to be able to mine script-based coins. However, as the number of miners participating in resolving blocks has increased dramatically over the past few years, it has become increasingly difficult for solo-miners to compete for transactions to complete, resulting in the rising popularity of doge mining pools, where miners combine their CPU power to complete transactions more effectively and generate revenue faster.

Before joining a dogecoin pool it is important that miners research the security of the mining pool as well as the manner in which they calculate rewards.

Some mining pools focus only on specific cryptocurrencies and some allow for multiple currencies to be mined. Before you start mining for Dogecoin, calculate the possible profitability with this mining calculator.

Pools will also use a variety of payment methods, such as PPS+ vs PPLNS, so be sure you fully understand how you get paid before you start.

Check out the full article on how to mine dogecoin

Dogecoin Mining Pools

For miners interested in mining Dogecoin, here is a list of the Dogecoin mining pools and the benefits and constraints of each:

  • Prohashing: ( https://prohashing.com/). This is one of the few mining pools that will actually pay out in Dogecoin. Most of the pools will covert the coins generated into Bitcoin or Litecoin. With about 16,000 miners active on the site, Prohashing merge mines for coins and then pays directly into your bank account.

  • Multipool: (https://www.multipool.us/dashboard/pool/doge).  With over 13 million Dogecoins paid out, this doge pool offers a variety of different altcoins as well as Bitcoin and Litecoin for mining and payment.

  • Hashfaster: (http://doge.hashfaster.com/) is a multicoin mining pool that keeps miners anonymous. Payouts are made every two hours if the balance is high enough or alternatively on a Sunday. With about 775 active miners, this is small pool that focuses on the less well know script based altcoins. Just over 10,000 Dogecoins have been mined on this site.

  • 1Coinpool: (https://1coinpool.com/). Using a PPPS (proportional pay per share) model, this pool offers miners Dogecoin, Zcash, Ethereum and Litecoin mining pools.

  • Aikapool: (https://aikapool.com/doge/index.php?page=login). A mining pool that offers free registration and has about 45 active miners. Miners are rewarded on a PROP system (proportional) where there is no risk to the pool operator as the system pays only when a block is found.

We’re written about other pools in the past, check these posts for more info on ETH mining pools, or LTC mining pools.

Final Thoughts: Dogecoin Mining Pools

Although the above list does not cover all the pools available for mining Dogecoin, these are the pools that have the most mentions.  For more information on the currency, the story behind the coin and the meme and for details on how to get started and download a wallet, visit the Dogecoin website on http://dogecoin.com/.

If you’re interested in learning about how you can profit from trading crypto currencies, you might want to consider enrolling in a crypto currency trading course

Beginners Guide to Cryptocurrencies

Cryptocurrencies have taken the world by storm; everyone is discussing their investments in Bitcoin, Litecoin, Ethereum and the growth potential of other coins.

Mining for coins has become a pastime for people from all walks of life, from scholars to accountants.  This article will give you a beginners guide to cryptocurrencies, providing a basic introduction into what Cryptocurrencies are, which ones people are investing in and how to get started.

TRY TODAY

If you’re interested in learning about how you can profit from trading crypto currencies, you might want to consider enrolling in a crypto currency trading course

Introduction to cryptocurrencies

Cryptocurrencies are quite simply digital coins that are used in an online environment in place of traditional currencies to complete transactions.  Based on open source blockchain technology, the record of the transaction is available to everyone, known as a public ledger, and this makes fraud of cryptocoins very difficult.

All participants can see all transactions on the ledger, ensuring that a coin cannot be spent more than once. Cryptocoins also remove the need for a middleman to manage the transaction, such as a bank, which makes them more efficient.

In addition, because the transaction exists on computers all over the world, the system is redundant and secure.

To lean more about the basics of Cryptocurrencies and how they work, visit Udemy.com for some free courses.

Best cryptocurrencies

Since the launch of Bitcoin, hundreds and new cryptocurrencies have been launched, most of these know as Altcoin’s (alternative coins). Some of the currencies are fun currencies, like Dogecoin, and some have great potential and value.

Currently there are more then 1500 cryptocurrencies in circulation.

The list below looks at the top performing currencies of 2017.

  • Ripple, XRP (https://ripple.com) was the worlds best performing digital asset of 2017. With a market cap of more the $85 billion it is currently the fourth largest cryptocurrency.

  • Bitcoin,BTC (https://www.bitcoin.com) remains top of the list from a market capitalisation point of view, worth more than $128 million. Bitcoin is the most expensive cryptocurrency but investors can buy “ Satoshi” which are pieces of Bitcoin. Bitcoin has grown in value from $880 per Bitcoin to $3 775 since it’s launch.

  • Ether, ETH (https://www.ethereum.org) is high on the list if cryptocurrencies worth investigating for investment. Ethereum’s ability to build smart contacts on top of it’s technology gives the currency good potential for additional applications. In the year since its launch, Ethereum has grown in value from $10.03 to $225.

  • Litecoin, LTC (https://litecoin.org) was launched in 2011 as a competitor to Bitcoin and grew an incredible 8200% during the 2017-year. Litecoin’s market capitalisation is currently around the $17.8 million mark.

  • Dash (https://www.dash.org), formerly Xcoin and Darkcoin, has a market cap of $3 million dollars and has been in circulation for more than three years. During the three years the value per Dash Coin has increased from $ 12.23 to $ 340.03 at the end of 2017.

Investing in cryptocurrency

The increase in the value of cryptocurrencies in the last year has been incredible and many people who got into the market early have made a lot of money.

However before investing it is important to do research into your coin of choice and to understand the risks of investing. The market is incredibly volatile and any investor must know there is a risk of losing all your invested money.

The following sites, articles and video’s can assist you in getting started with cryptocurrency investments. Each of the cryptocurrency home-pages mentioned above, will also help you to get started investing in the specific coin.

https://blockgeeks.com/guides/how-to-invest-in-cryptocurrencies/

http://fortune.com/video/2017/11/21/heres-how-you-should-invest-in-cryptocurrencies/

If you’re serious about learning more about crypto currencies, you might want to consider enrolling in a crypto currency trading course

Altcoin Wallet

If you’re interested in the exploding cryptocurrency scene at the moment and have taken the step to purchasing something other than bitcoin, you’ll be interested to know what your options are in terms of finding an altcoin wallet to keep your currency safe.

In this article we’ll explore just that.

Altcoin Wallet: Why you need one

When you invest and trade in cryptocurrencies it is vital that you have a digital wallet to store and keep your money safe. Quite simply, a digital wallet is a software program that stores your coins for you by holding the keys to the blockchains that enable you to trade.

By owning the keys, you have control over the funds linked to those keys. Should someone else access your keys, which are similar to banking PIN numbers, they can gain control over your funds.

Safeguarding these keys is the main function of a wallet. For guidance on how to download Altcoin wallets, please watch the following online video:

What is Altcoin?

Altcoin is quite simply a shortening of “Alternative Coin”. Post the launch of Bitcoin, a flood of new cryptocurrencies became available on the market and these are referred to as Altcoin’s. Some Altcoin wallets can manage one or two cryptocurrencies in addition to Bitcoin and some wallets can manage multiple currencies such as Ethereum, Litecoin, Dogecoin and Ripple.

Best Altcoin wallets

According to Steemit.com  the following are the best Alton wallets currently available:

  • Cryptonator: this is a multi-currency wallet that supports 19 different Cryptocurrencies and has more than 500 000 active accounts. More than 16 million transactions have been processed though Cryptonator. Registering and downloading a wallet is free but there is a rate charged on transactions which have been reviewed as being very high The keys are not kept by you on your device but by Cryptonator themselves which means they have ultimate control over your funds.

  • Agama or Komodo (https://supernet.org/en/downloads) supports 12 different currencies and is available for MAC and Windows. The keys are held by you on your computer and are not encrypted, which means you have to be careful.

  • Exodus: also supports multiple currencies and as an additional feature has Shapeshift built into the wallet, which enables easy exchange of currencies. The wallet also has charts and graphs that enable real time tracking of your portfolio. The wallet only supports 8 currencies, which the developers are not planning to increase. Suitable for MAC and Windows the keys are kept on your device and are encrypted.

  • Jaxx – is voted the second best Altcoin wallet available at the moment. It stores keys for 12 different currencies and has a friendly, easy to use interface. Jaxx is suitable for all platforms, MAC, Linux and Windows as well as mobile devices. Jaxx developers are constantly adding new coins and want to be known as the wallet that supports all coins. Keys are stored on your device and are encrypted.

  • Coinomi – The best Alton wallet based on the Steemit poll is Coinomi. This wallet stores keys for an incredible 64 cryptocurrencies and has Shapeshift built in. As an added feature it combines the value of your different currencies to give you an overall portfolio value. The keys are stored on your device and are encrypted and secure. The only downside to the wallet is that it is only available on Android and not IOS or Linux, although the developers are working on addressing this.

Regardless of the type of Cryptocurrency you are investing and trading in, ensuring you have a wallet that meets your requirements and keeps your currency keys safe is critical. When choosing your wallet ensure the security suits your environment and research the costs associated with the wallet.

Hardware Wallet

All the wallets mentioned above are online software wallets. Another option that you may want to consider for additional security is a hardware wallet, such as the Trezor or Ledger Nano S, which enables you to safely store keys offline.