Vertcoin is a very popular cryptocurrency. It has a market cap of $85 million US dollars. And a single VTC currently costs about $2.
So this makes Vertcoin a very good cryptocurrency to start mining. Plus the entry cost is quite low compared to Bitcoin and Litecoin mining. That is why in this guide we are going to talk about Vertcoin mining.
Vertcoin uses the Lyra2REv2 protocol. So Nvidia cards always get an upper hand while mining this cryptocurrency. Because they provide the best price to performance score. So the payback period will be drastically reduced.
BEST GRAPHICS CARDS FOR MINING VERTCOIN
As I have mentioned above Nvidia cards are always the better choices for mining Vertcoin. But Nvidia has a lot of graphics cards. So which one to choose? I will answer that.
Let us compare the hash rates of a few popular graphics cards from Nvidia. I will also add the power consumption to the table.
Here is some Vertcoin Mining Hashrates for major GPU.
|Card Name||Hash Rate (Lyra2REv2)||Power Consumption|
|GTX 1060||20.3 Mh/s||90 W|
|GTX 1070||35.5 Mh/s||130 W|
|GTX 1070 Ti||41 Mh/s||120 W|
|GTX 1080||46.5 Mh/s||150 W|
|GTX 1080 Ti||64 Mh/s||190 W|
All of these cards provide very good hash rates for Lyra2REv2. So at first, the choice can be quite confusing. But if you consider the price to performance then the picture becomes pretty clear.
Build GTX 1080 Mining Rig that can also support mining Vercoin VTC –
HOW TO MINE VERTCOIN?
By now you know what Vertcoin is. I have also talked about the best cards for mining Vertcoin. So all that is left is to go through the actual mining process.
A WORD ON MINING POOLS
Before we start mining Vertcoin let us take a look at some of the best mining pools for mining Vertcoin. As I have mentioned previously, Vertcoin uses the Lyra2REv2 protocol. As it is a popular protocol and Vertcoin itself is also popular, there are a lot of options when it comes to mining pools.
Like most other cryptocurrencies you get two choices. You can either go with a traditional mining pool or a P2Pool. Traditional pools provide a better interface. These pools usually have a fee for mining with them. But there are exceptions too.
In case of P2Pools or Peer to Peer pools, you don’t have to pay any fees. P2P mining pools are decentralized just like the cryptocurrency itself. The software seeks out other nodes in the P2Pool network and shares data with them. You also get paid immediately while mining with P2Pools.
But configuring your miner to connect to a P2Pool can be a bit of a hassle. So for the sake of simplicity, I will only suggest traditional pools in this post. If you want to learn more about P2Pool, please visit this webpage: P2Pool.
In my opinion, the best pools for mining Vertcoin are Miningpoolhub, Give me coins and Easymine. Give-me-coins doesn’t charge you anything for using their pool for mining Vertcoin. So this is a big plus if you are worried about your payment. Give-me-coins also use PPLNS with 30 confirmation. So payments will be faster.
Miningpoolhub has a 0.9% and Easymine has 0.5% fee. But both of them are very responsive mining pools with a large number of miners. So if you have a rig which can achieve a hash rate of more than 100Mh/s then these are the better choices.
SETTING UP THE MINER
For this guide, I will be using Easymine as the pool to set up my miner node. You can use the traditional and reliable CCMiner (NVidia only) for mining Vertcoin. You can also the One-Click Vertcoin Miner for mining.
This One-Click Miner has a graphical interface. So if you are new to the mining scene and are not tech savvy then use you should use this. The hashrates are a bit lower than that of CCMiner’s. But it’s a compromise you can make.
USING CCMINER TO MINE VERTCOIN
- First of all, you need to make sure that all of your graphics cards are properly connected to the motherboard. You can check the BIOS for this information. I suggest using Linux for mining operations. Because although you will have to set up a lot of things manually and with commands, Linux has better support for multiple graphics cards. But I will assume that you will be using Windows for this guide.
- Then please visit the official GitHub page of CCMiner to download it. You will find Linux as well as Windows packages here.
- Upon downloading extract the contents to a folder. Now inside the folder create a new text file.
- Inside the text file paste the following code –
ccminer-x64 -a lyra2rev2 -o stratum+tcp://lyra2.easymine.online:5000 -u USERNAME.WORKERNAME -p x
You need to make two minor changes to this code. First of all, the USERNAME should be your Vertcoin wallet address. Easymine recommends using the Vertcoin Core Wallet generated wallet address for this. And you can change the WORKERNAME to anything to help you remember the rig.
- Now instead of saving the file as a normal txt file, we are going to save it as .bat file. So click on file and then click on save as. Name it something like “Miner.bat” and save.
- Now, whenever you run this .bat file the CCMiner will start mining. In a command prompt window, you will get useful information such as hashrate.
USING ONE-CLICK VERTCOIN MINER TO MINE VERTCOIN
- The One-Click Vertcoin Miner as the name suggests is an easy to use cryptocurrency miner. First of all, please download the One-Click Miner from the official GitHub repo: One-Click Vertcoin Miner. From now on I will be referring to the One-Click Miner as OCM.
- After downloading, install the .msi file. The installation process is very straightforward and easy. So I am going to skip this part.
- When the installation finishes you will see a shortcut to the application on the desktop. Open the program from that shortcut. I suggest running it as an admin.
- The program is very user-friendly. On the right bottom corner you will see an option to add pools to the miner. Click on that and a pop-up will open. In the
Pool Addressfield paste
lyra2.easymine.online:5000. And in the
Wallet Addressfield paste your Vertcoin wallet address and in the
- Then click on Add Pool. Clicking this will add the pool to the list of pools of that miner.
- In the main window of the program, you will see a button called
Start. But before you click on that from the drop-down on the left side select
Nvidia(assuming you are using Nvidia cards as I suggested).
- After that click on
Start. As soon as you click on it, the miner will start mining. In the bottom bar you will see the hashrate.
I hope I was able to show you the easiest way to start mining Vertcoin. Before finishing I would like to mention that Vertcoin is not the most profitable cryptocurrency to mine right now. So the payback period will be a little higher than expected.