How to Mine Vertcoin (VTC): A Beginner’s Guide

If you want a mining process that is simple and hassle-free, then vertcoin mining is the way to go. In this guide, you will learn how to mine vertcoin (VTC) in 2020.

What Do You Need?

Vertcoin is based on the Lyra2RE(v2) algorithm, which is ASIC resistant. That makes graphics processing units (GPUs) the most suitable hardware for mining this cryptocurrency. AMD and Nvidia are the main manufacturers of GPUs. An example of a GPU is Nvidia GTX 1080.

Your GPU should have a high hash rate to increase your chances of finding a block. Also, consider the cost of your hardware and its power consumption because it will affect your potential mining profits. A GPU rig can use more than one graphics card to increase earnings.

In addition to a GPU, you will need:

• Stable internet connection: When your rig is mining 24/7, you need a stable, reliable, and low latency internet connection. This will boost your chances of finding a block and receiving a reward.
• Cheap electricity: Your earnings depend on your ability to access cheap electricity. 
• Vertcoin wallet: To store and manage your vertcoin, you will need a wallet. You can download vertcoin’s desktop wallet, which is available for Windows, Linux, and Mac.
• Mining pool: Joining a mining pool will help you to make higher profits than mining solo.
• Mining software: Mining software that supports vertcoin mining is also an important addition to your rig.
• Cooling and ventilation equipment: Your GPU rig will produce a lot of heat. Therefore, ensure that you set up in a well-ventilated room and invest in cooling equipment.
• Secluded location: Your rig will produce noise. As a result, you might have to set it up in a secluded area where you will not cause any disturbance.

Your GPU mining rig will need a combination of a motherboard, RAM, CPU, and HDD/SSD to manage all the cards and install the required software.

Mining Using One-Click Miner

Vertcoin’s One-Click Miner has made mining so easy that anyone could do it. When using a GPU rig, begin by assembling all the components and connecting your rig to the power grid. These components include a GPU card, motherboard, CPU, PCIe risers, SSD, power supply, a memory stick, CPU, power supply adapter, and a frame to hold your GPU cards.

You will also need to install an operating system like Simple Mining OS for Linux. If you are using Windows 10, use an AMD GPU. Moreover, if you are not building a GPU rig, you can use your PC.

Here is how you can mine VTC using One-Click Miner:

• Download and install One-Click Miner. To do this, go to https://vertcoin.org/ and click “Download Vertcoin One-Click Miner.” You might receive a warning that the file could be harmful to your computer. Ignore this and download anyway.

• Open the download file and click “Run.”
• Install the miner.
• Download the Vertcoin Core wallet and install it.
• Open One-Click Miner and click “Find P2Pool Nodes” to look for a mining pool. The miner will open the P2Pool Node Scanner. Click “Scan.”
• Choose a node from “Network 2” on the list that appears. This network is suitable for equipment outputting less than 100MH/s. When choosing a mining pool, go for one that is close to your location. Furthermore, consider the pool’s fees in your decision-making process.
• Enter your VTC wallet address then click “Add Selected Pool(s)”
• On the upper left corner, choose the hardware you are using to mine vertcoin on the drop-down menu. For instance, if it is an Nvidia graphics card, click on it. Also, check the pool you want to use and click “Start Miner.” You can use more than one pool to ensure that you will continue to mine vertcoin even though one pool experiences downtime.
• The miner will indicate “Waiting for Share” or “Running.” You will see the hash rate at the bottom of the page. If the hashing power of your hardware is low, it might be sometime before the software begins to register a hash rate.

Calculating Your Mining Profitability

Before you start mining using a rig or cloud mining, you need to calculate your profitability first. The following factors will impact your mining profitability:

• Cost of your hardware and other equipment
• Hash rate of your hardware
• Hash rate of your mining pool
• Mining pool fees
• Cost of electricity
• Power consumption of your hardware
• Vertcoin mining difficulty
• VTC price
• Number of GPUs you use

You should buy hardware that has a high hash rate because it will boost your chances of mining a block. Your hardware should also be power efficient.

The image below displays the earnings made from using Nvidia GTX 1080, paying $0.02 per kWh for electricity, and paying a mining pool fee of two percent.

If you have been looking for a coin that is easier to mine than bitcoin, then you could start mining vertcoin. With this guide, you can start anytime and begin your crypto mining journey.