All About BTC, LTC, ETH mining as well as other alternative crypto currencies
In the last 24 or even more hours Multipool has been having some serious problems, and that is causing problems for people mining for DOGE coins and other alternative scrypt cryptocurrencies as they do not know where else to mine them in a pool that automatically switches to the best and most profitable coin. But even if you are mining for DOGE coins directly, you might want to find a good alternative for mining instead of multipool. One such interesting place is CoinEX – a mining pool much like multipool that also has its own crypto exchange, so you can save the trouble of transferring the coins to a separate exchange like Cryptsy for example. Instead you can mine, trade the coins and withdraw them directly to your wallet all in one place.
So far Coinex is working quite well and though it is not as big as Multipool or Cryptsy it seems to be much more stable. So if you are looking for alternative mining pool to Multipool, then do check Coinex now and start mining DOGE or other alternative cryptos there… at least until multipool resolves their issues. Coinex, much like multipool, does have both SHA-256 and scrypt-based crypto mining options and you can either mine directly a coin you want or use the automatic switching option. Furthermore the Coinex mining pools offer more options for alt coins that what multipool currently have, so more chances for higher profitability not only from DOGE, LOTO or MOON, but other alternative coins as well. The pool fee is Pool fee 2% which is a little higher than Multipool’s 1.5%, but between 0.5% higher fee of something than 1.5% of nothing the choice should be easy.
Another interesting alternative is LTC Rabbit, an LTC and alternative scrypt crypto mining pool where the coins currently mined are also automatically selected by the pool based on profitability. The difference however is that you are being payed directly in Litecoins, it is as if you are mining for LTC and you earn LTC from that plus you also get additional alternative crypto coin bonus based on the current profitability of the alt coins mined such as DOGE for example an that bonus you get also in LTC directly in your account. This saves you all the trouble and waiting of having to transfer the mined alternative crypto coins to an exchange and then trade them for LTC and the profitability you get is not that much lower than if you are mining alternatives and then trading them on an exchange.
With so many alternative crypto currencies nowadays it is hard to keep track of all of them, so services such as PoolWarz appeared that offer to provide you with a single mining pool where you can mine the right alternative currency at the right moment. This happens by tracking the exchange rates and difficulties of many alternative crypto currencies and calculating the most profitable at the specific time, so that the workers in the pool can be switched to mine that exact cryptocoin.
You might be already multiple crypto currency mining pool like the Multipool (only a mining multi pool) or CoinEX (multi pool and exchange in one), but there is a new interesting player called PoolWarz that is supposed to offer a more streamlined and user friendly interface. This service is still in beta and there is a long queue already by people that are waiting in line to get their chance to register and try it out. We just tried it out and got a message saying 6233 people are waiting in front of us to try out the service, so you can save some time and not bother with PoolWarz for now and instead go to some of the other services we’ve mentioned already that allow you to register and start using them immediately!
Update: Now, about a month later we’ve checked the situation and the website reports that there are currently 1233 people ahead of us, so as we’ve said – do not bother with that service for now at all. There are many other alternatives that will not tell you to wait for them for months just to try them.
Update 2: Five weeks later since our signup and we have finally received a login for the Poolwarz service, so we are going to be able to try it out finally.
Here is a short list of the bigger and more popular crypto currency exchanges out there that trade with not only Bitcoin, but Litecoin as well as many other alternative cryptos. Some of these exchanges are trading only between different crypto coins for example BTC for LTC, or DOGE for BTC and you cannot buy with money in them – Cryptsy, but others also trade with real money and you can both deposit and withdraw in cash as well as in cryptocurrency – Mtgox. There are even exchanges that only serve to connect the traders – Local Bitcoins.
– Just Coin
Now, although most of these crypto exchanges are listed under different countries and just a few as worldwide, in almost all you can trade regardless of your location though for some there could be a language barrier if they were designed to serve only a local market and do not have an English version for example. The only more serious problem with some is the ability for you to withdraw cash from the exchange if it also operates with real money and not only trades with crypto coins. So do take some time and check them out and find which ones can be useful for your specific needs… there are of course more exchanges out there, so this is not a complete list, but more of a good starting point.