Vertcoin (VTC) is a cryptocurrency that was created in 2014 and is branded as “the people’s coin” by the community. Unlike Bitcoin (BTC), Vertcoin (VTC) aims to keep its mining as decentralized as possible. This means that the development team is looking to keep Vertcoin (VTC) ASIC resistant so that the community can continue to mine it with a graphics card (GPU).
To encourage more members of the community to mine Vertcoin (VTC), the team behind this cryptocurrency has developed the one-click miner that is simple and easy to use. This focus of this post is to show anyone interested in mining a cryptocurrency how easy the Vertcoin (VTC) one-click miner is to use.
How Much Vertcoin Will I Earn?
In other words, how profitable is it to mine Vertcoin?
To find out this, plug your details into this. You’ll need your:
- Hash rate in KH/s.
- Calculate this by multiplying your hash rate in MH/s by 1000.
- If your hash rate in MH/s is 30, your hash rate in KH/s would be 30,000
- Power consumption (in watts).
- Electricity cost (in $) per kWh.
- This should be on your energy bill somewhere.
- On a standard tariff in the UK, my electricity costs $0.34/kWh.
Your results will look something like this:
This shows your estimated VTC rewards (labelled ‘Est. Rewards’) and your Profit (in $). As long as your profit isn’t negative, it’s financially viable to mine Vertcoin (VTC).
Setting Up Vertcoin’s One-Click Miner (OCM)
Start by downloading the latest version of the 1-click miner from the official GitHub repository.
Find this .zip file in your Downloads folder. Open it up with something like 7zip and move the application named ‘vertcoin-ocm.exe’ to your desktop (or anywhere else you want to keep it) and rename it if you want too. Then you just need to double-click this .exe to start-up the one-click miner. No installation is required to get started.
You might see something like this when you run it. Anti-virus programs like Windows Defender will often flag all cryptocurrency miners and it’s nothing to worry about if you’ve installed this from an official source. You won’t see this warning again after the 1st time.
You should see something like this. Insert a unique password (ensure you keep that somewhere safe) and then select ‘start mining!’
It’ll then start mining Vertcoin (VTC). You should see something like this, but the numbers will depend on how powerful your graphics card is.
When you need to use your computer or you want to turn it off, then just shutdown the Vertcoin (VTC) one-click miner and it’ll stop mining. When you want to resume mining, just start-up the one-click miner and it’ll start mining Vertcoin (VTC) again.
Vertcoin’s one-click miner has a built-in wallet, but you can send any Vertcoin (VTC) that you’ve mined to a different wallet by going to the ‘send coins’ tab and putting in the destination address and the password you set up earlier.
Everything about the one-click miner is handled for you, but a few settings can be changed in the ‘settings’ tab.
If you like, you can use closed-source miners instead of the default one. As noted in the settings, these sometimes have a small developer fee (usually about 1-2% of whatever you’re mining). However, using closed-source miners can lead to a higher hash rate (MH/s). As you can see below, I gained an extra 10MH/s when I switched to a closed-source miner (which is a 25% improvement over the default miner).
Having Issues?
If you’re having issues, you’ll be able to find help in the following places:
Anything to add?
I’m looking to improve this post over time, so I appreciate any input from readers!
No matter what version I download there’s only the option to mine with CPU. I can’t find any One Click Miner software that even mentions a GPU but everything I read says it’s GPU as well, what am I missing?
Sorry to hear you’re having trouble with the OCM, Ryan.
The first thing that comes to mind is that the GPU isn’t supported by Vertcoin’s OCM (see here for details on that).
For any issues I have, the best place you can go for help is the Vertcoin Discord server. You can find the link to this (and other Vertcoin communities) here.
I’m mining RVN with Vertcoin.ocm and i can not for the life of me figure out how to send the 2,000 or so coins that i’ve mined to my Bitrue wallet. It keeps saying insufficient funds. Why?
Sorry for not getting back sooner on this!
In case someone else is having this issue, it’s likely because you don’t have enough funds (or haven’t allocated enough) to cover the networks fees being charged by the RVN network.
This might be a bit puzzling at first, as it’s probably cheap to send a transaction over a network like this. But if you’re mining RVN, then you’ll likely be receiving lots of small deposits to your wallet. When you try to transfer your wallet balance elsewhere, all of these little deposits need to be grouped up and sent together. This will require more space in the block, which leads to higher fees – as you’re not charged fees based on the value of your transaction, but based on the data required in the block.
Hope that makes sense!
Underated tutorial! and review! Hope more people see it, so far soo good! My entry into mining and its been pretty big learning curve. ended up here, loving it soo far 😀
Thanks for commenting, ZoroPks! Glad to hear you’ve found this guide useful 🙂
Hi there,
I’m new at this so please be patient. If vertcoin has a mining hashrate of 2.5MH/s, wouldn’t it be profitable to use a rig with a larger Hashrate? Or is there a limit? Any help will be much appreciated.
Thanks
Buddy
Welcome to the wonderful world of cryptocurrency mining, Buddy!
If you want to get a higher hashrate, then you’ll need to either:
You’ll need to understand how much power different graphics cards are chewing through to compare their profitability. Even though a single super-expensive graphics card might have a higher hashrate, it might be more profitable to get your hands on a couple of cheaper ones.
I’d check out WhatToMine for approximate numbers and profitability, but you can also check out cryptocurrency or mining dedicated subreddits for an idea of what real-world results people are getting (e.g., this one for Vertcoin).
Hope this helps a little!
How do you use multiple GPU’s? Not sure if it is using both of them. I can’t find anything in settings that lets you choose.
All automatic?
Thanks for commenting, Gunner!
I’ve not tried this with multiple GPUs, but I think it’s all automatic. However, the recent fork over to Verthash could mean there are issues.
If you can find the expected hash rate of your GPU on Verthash, then that should be a quick sign if it’s working or not. However, I can’t find any decent list right now.
Your best bet would be to head over to the Vertcoin Discord channel and see if anyone can help. Before you do, I would double-check you’re using the current release too.
Sorry that I can’t be more help!
Hey there!
I found your guide really, really useful. However, one question arises:
what’s the difference between mining with a P2Pool and mining on your own?
Thanks!
Hey Damian,
Good question!
This video explains the essence of both solo and pool mining. If you’re just mining with your PC (1 or 2 graphics cards), then pool mining is the way to go.
Importantly, running your own P2Pool node (locally) doesn’t count as solo mining – you’ll still be working with the pool. P2Pool works differently to traditional mining pools and benefits the network, so is recommended. You may get lower payouts than a traditional pool, especially if you’re more casual (i.e., not 24/7 mining).
Hope that helps!