Edit ArticleHow to Create an Online Bitcoin Wallet Three Methods:Creating a Software WalletSetting up a Web WalletUsing a Hardware WalletCommunity Q&A A wallet in the realm of bitcoins is equivalent to a bank account.Your wallet is where you receive, store, and send bitcoins.There is essentially two types of bitcoin wallets: a software wallet and a web wallet.[1]Both wallets have their pros and cons, and the decision will depend on your needs for a bit coin wallet.Method 1 1 Research your options.The software wallet was the original bitcoin wallet created.There are different types of software wallets.You're in complete control over the security of your coins with the software.The bigger hassles of the software wallet is installing and maintaining it.The block chain is a public database of all the transactions participating in the server.It is used for almost all servers for history and verification purposes.2 Download the original.Some people claim that the original bitcoin wallet, Bitcoin Core, is the best.

It has been scrutinized and evolved since its creation.ethereum chart usd, to download the application.bitcoin in canada atmThis program will work on Mac, PC, and Linux servers.litecoin with coinbaseOnce you install the software, the bitcoin client will attempt to establish a network and begin downloading the bitcoin block chain.bitcoin sur amazonYou'll need all the blocks in chain before you can send or receive any transactions.[2]ethereum limit3 Use alternative wallets.litecoin chart 2015There are plenty of similar wallets that all have their own drawbacks and specific functions.

Hive, for example, is only available for Macs and includes an app store that connects to other bitcoin services.Armory is a wallet that is designed specifically for enhanced security.[3]Each have their own installation quirks.Hive is specially designed for beginners.4 Use a lightweight wallet.There are a few wallets that take up less space on your hard drive.These work at a faster speed because they don't download the entire block chain.Only a small part of the block chain is used at a time, making it faster.Some popular lightweight wallets are Multibit and Electrum.[4]These wallets are less secure than the wallets that require the full chain blocks.Method 2 1 Understand web wallets.Web-based wallets store your private keys online on a server controlled by an admin group.Some wallets conveniently link between your mobile and software wallets.You can access this wallet anywhere, making it a popular choice.The website is in charge of your keys and can take your bitcoins out of your control.

Many web wallets suffered from security breaches in the past.Be aware of the risks before investing.2 Pick a web based wallet.There are plenty of wallets that claim security for their customers.Some of the popular servers that have been active for a while now are: Coinbase, Circle, and Xapo.Coinbase operates worldwide and offers exchange services between US and Europe.Circle only lets US citizens to link their bank accounts to deposit money.Debit or credit cards are options for users in other countries.Xapo is a very simple wallet that is easy to use and includes an extra security method called a cold-storage vault.[5]3 Use an anonymous wallet.The world of bitcoin often draws anonymous users for various reasons.Some of these types of wallets are less secure and don’t offer much in the means of insurance.Dark Wallet operates as a chrome extension and is the most popular anonymous wallet.These types of servers fluctuate in stability for your coins.At any moment the server could become vulnerable to becoming hacked.

Some of the features of anonymous wallets are appealing like the fast cash out module.Method 3 1 Understand hardware wallets.For those who are overly secure and protective of their finances, a hardware wallet could be for you.Hardware wallets are physical devices that hold private keys electronically and facilitate payments.[6]These wallets can be carried on your person and don’t rely on you keeping funds in a third-party's storage.These wallets are immune to viruses and types of Trojans that infect software wallets.2 Purchase a hardware wallet.There are many different hardware wallets that range in price range and quality.Take a look at some of the premier hardware wallets: Pi Wallet uses cold storage and does not have wireless capabilities.It uses Armory’s client which makes it secure while not requiring you to set everything up by yourself.This is a safe and easy hardware device.Trezor is similar to Pi, but uses a small screen to interact with.The private keys are generated by the device and can’t leave it, making it immune to malware.

USB wallets are pretty popular and more affordable devices.These devices protect your data and use similar micro-processor chips that credit cards use.These typically allow you to go between a variety of computers and your device will establish a secure connection.[7]3 Encrypt your device.Add New Question Already answered Not a question Bad question Other Keep your password safe and stored separately from your wallet identifier!Always download a backup whenever you login or receive a transaction, and keep it safe.A minimum of 0.01 BTC fee is recommended for new transactions.If you're tech-savvy, look into building your own hardware wallet.Do not use bitcoins as a savings account.The currency rate fluctuates too frequently.Bitcoin is still in its early years and might not be the best investment.Latest News (RSS): Market Prices and the PPS Ratio Getting Started Understand how mining works.If you are new to mining, read our Beginner's Guide.Make sure you understand that you will never make a profit out of CPU or GPU mining, and that unless you are a developer, ASIC hardware is required.

Create a pool account.Connect your miners to the server(s) closest to you (most mining software allows you to specify more than one server for failover): :3333(London, UK) :3333(New York, USA) :3333(San Francisco, USA) stratum+tcp://ltcpool5brio2gaj.onion:3333(Tor hidden service) If you are behind a firewall, you can also access Stratum on port 8080.The default credentials are: Username:your_username.1 Password:1 If you want, you can create additional workers on your account page, with names and passwords of your choice.Both the username and the password are case-sensitive.Never use your account password for any of your workers.Create a Litecoin address.Download and install a Litecoin client from the official website.After starting Litecoin Core, click on the “Receive” tab and copy your Litecoin address, then paste it in your account settings so that you can receive payments.Alternatively, if you wish to use Electrum-LTC, you can use any of the addresses shown in the “Addresses” or “Receive” tab.

Your Litecoin address should start with the letter “L”, and be 34 characters long.The pool automatically serves work of optimal difficulty by estimating the speed of your miners and applying gradual adjustments to the share target.It may take a couple minutes for the difficulty to stabilize.Share difficulty changes do not influence your expected earnings.If desired, the default adaptive mechanism can be overridden by appending “,d=N” to the worker's password (in your miner's configuration, not on the website).For example, if a worker's password is “foo”, connecting with password “foo,d=64” will ask for share difficulty 64.Keep in mind that difficulty can only be set on a per-connection basis, so if you connect multiple workers via a proxy they will all share the same difficulty (this is a limitation of the standard Stratum protocol).Moreover, the server may round or cap the difficulty you asked for in order to prevent denial-of-service attacks.

Keep in mind that some ASIC devices may malfunction if you don't set an appropriate difficulty manually.Additionally, the pool also supports BFGminer's --request-diff option to manually set an initial share difficulty.This is especially useful for very fast miners.Mining Securely If your mining software supports Stratum over SSL/TLS, you can connect to port 3443 (instead of 3333) to obtain a secure encrypted connection.This makes it impossible for a man-in-the-middle attacker to send malicious spoofed requests to your miner.All our servers support this feature, including the Tor hidden service.Using a Proxy If you have many miners running within a local network, it is best to use the Stratum proxy for Litecoin mining.This proxy allows you to significantly reduce your bandwidth usage.The Python source is available here, and a binary for Windows here (note that this is not the same as Slush's proxy, as it is optimized for Litecoin).You start the proxy on one of your machines as follows: Then you connect your miners to that machine on port 8332 with the usual pool worker username and password.

For example, if the proxy is running on 192.168.1.123, you should connect your miners to http://192.168.1.123:8332 instead of directly to the pool.FAQ Would Litecoin mining be profitable for me?Short answer: not if you intend to use GPUs or CPUs, even if you don't pay for electricity.Long answer: it depends on many factors, including your hardware, the cost of electricity and the market price of Litecoin.In practice, nowadays you can only make a profit by using ASIC (application-specific) hardware.Check out our mining profitability calculator.Can I use a Bitcoin ASIC miner to mine litecoins?No, it's not possible.Litecoin uses an entirely different and much more complex hashing algorithm (scrypt instead of SHA-256d).Is there a pool fee?No, even the nominal PPS fee was removed when merged mining was introduced.In fact, the “fee” is now negative: the PPS ratio is currently 108%, meaning that miners earn 8% more than with a 0-fee PPS system.What is the PPS ratio?

Short answer: the higher the PPS ratio, the more you earn.Long answer: a PPS ratio of 1 (or 100%) corresponds to the expected earnings of a Litecoin solo miner in an ideal world, without taking into account aspects such as orphaned blocks.(In practice, a Litecoin solo miner will always achieve a slightly lower ratio in the long run.)We say “expected” earnings because mining is a stochastic (random) process, and it is therefore impossible to know beforehand exactly how much a miner will earn in a given lapse of time.Thanks to merged mining, a technique that allows multiple cryptocurrencies to be mined simultaneously, it is possible to achieve PPS ratios higher than 100%.This is unrelated to what “profit-switching” pools do, as in merged mining all chains are mined at the same time.For this reason, merged mining does not cause sudden difficulty spikes and does not harm any of the involved networks.How and when does the PPS ratio change?

The PPS ratio depends on factors such as the current network difficulty and market price of merged-mined cryptocurrencies.Since these elements can be highly volatile, the ratio can change at any time.Can I use the same worker name and password for more than one physical miner?Yes, but if you use different workers it is easier to track your miners' performance.What is share difficulty?Share difficulty is a number that gives an indication of how difficult it is to find a share.The lower this number, the more shares a miner will find at a given speed, and the lower their value.For this reason, share difficulty does not affect miners' expected earnings.Why does the pool report more shares than my miner?This pool serves variable-difficulty work units, so when you solve a share the pool counts it with multiplicity, according to its difficulty.For example, if you solve a share that is four times as difficult as the baseline share, it gets counted as four shares.Why variable-difficulty (“vardiff”) shares?

The technique of adapting the difficulty to each miner's hash rate allows the pool to measure workers' speed more precisely while keeping bandwidth usage optimal.How does share difficulty influence my earnings?Short answer: it doesn't.Long answer: a higher/lower share difficulty does not mean you will be earning more/less, because your expected earnings are independent of the share difficulty: they only depend on your hash rate and on the network difficulty.A higher share difficulty can only increase the variance, but not in a significant way.How is the value of a share (a.k.a.the PPS rate) computed?The standard PPS formula is used: BS × R / ND × (SD / 65536), where BS is the block subsidy (currently 25 LTC), R is the PPS ratio (currently 1.08), ND is the network difficulty, and SD is the share difficulty (expressed as a multiple of the minimum share difficulty).Do block finders get extra reward?That would go against one of the main goals of the PPS system, which is to minimize variance.

It would also make miners who don't find blocks earn less, as the PPS rate would need to be adjusted downwards.We do list recently found blocks and their finders, but only for transparency purposes.How do idle worker notifications work?You have the option to let the pool monitor your workers and notify you with an email when they go idle.Monitoring can be enabled separately for each of your workers, so if you wish you can have the pool monitor only a subset of your miners.If multiple workers go idle simultaneously (within one minute), you will only receive one email listing all of them.You will not receive further notifications for any given worker until it starts submitting shares again, and in any case not before 15 minutes have elapsed since the last notification.Can I use an exchange address for payouts?While technically possible, we strongly advise against using addresses provided by exchanges or other third-party services.One of the main problems is that you do not fully control these addresses, and in particular if a problem arises you usually have no way to prove that you are the legitimate owner.

On the other hand, if you create an address on your computer using any wallet software, you can easily produce a digital signature.If you decide to use a third-party address anyway, we strongly recommend that you do not lock the address.This is because at any point an exchange may stop accepting funds to an address and require you to use a new one (yes, this has happened).Why am I not receiving payouts?The exact conditions for payout are listed on your Payments page.Please note that for your own security, whenever you change your payout address all payouts are suspended for 24 hours.I keep getting the message “Stratum requested work restart”.It is perfectly normal to get this message even 3-4 times per minute.It simply means that your miner is switching to a new work unit, because the previous one is no longer valid.Because of the stochastical nature of mining, frequent work updates (which are necessary for efficient merged mining) do not mean that your work goes wasted.

I get the message “stale share detected, submitting as user requested”.That is also normal for some mining software.I've just started mining and all my shares are being rejected, what's wrong?Make sure that your hardware and software support scrypt mining, and that they are configured correctly.Configuring a GPU for Litecoin mining (strongly discouraged at this point) can be particularly challenging.My miner shows up as online, but with 0 speed.No, something is probably wrong with your configuration.See the previous question.Why doesn't the hash rate reported by the pool match that reported by my miner?Because of how pooled mining works, the pool has no way of knowing your exact hash rate, so it can only estimate it based on how frequently you submit shares.After you start mining, it takes about 10 minutes for the estimates to become accurate.They will never be very precise, though; even if your miner's hash rate is steady, the pool estimate will keep fluctuating around the actual speed.

The pool keeps reporting a much lower hash rate than my miner.If the estimate displayed on the site stays too low for more than 10 minutes, then you are almost certainly experiencing hardware errors.Mining software usually checks every solution generated by your hardware devices, and if one turns out to be incorrect because of hardware errors it (rightfully) doesn't even submit it.Since pools can only estimate your hash rate based on how many solutions you submit in a given amount of time, their estimate will be lower than your real raw hashrate.This raw hashrate, which mining software usually displays, is, however, not meaningful if the solutions your card generates are wrong.If using cgminer or one of its derivatives, such as BGFminer, you need to make sure that all (not just the top one) of the HW figures are zero or next-to-zero; if that's not the case, you need to review your settings.What are stale shares?Servers provide each miner with some unique data that the miner must use to find a share.

This data needs to be updated every time a new block appears on the Litecoin network, and that's why servers must promptly notify miners when they detect a new block.Every second you keep on mining for the old block is wasted, because that block has already been found.If a new block is found before a submitted share hits the server, the share is marked as “stale”, and yields no reward.Stale shares are caused by latency, which can happen at various levels.The most obvious cause is a high ping time to the server, which however shouldn't affect the stale rate by more than 0.5% in the worst case.I'm getting more than 1% of stale shares, is this normal?On our Stratum servers, most miners achieve stale rates well below 1%.Some software-related latency may be unavoidable for some setups, but if your stale rate is above 1% then something probably needs to be fixed.Should I set the --no-submit-stale option in cgminer?No, you should not set that option.If you set it, your rewards may be lower.

Stratum is a network protocol for pooled mining, designed as a replacement for the now obsolete “getwork” protocol.It was originally proposed by Marek Palatinus (aka Slush), who also wrote a proxy for miners that could only understand the getwork protocol.Today most mining software supports the Stratum protocol natively, but the Stratum proxy is still useful for reducing network bandwidth usage on large installations.What is the “resume” extension to Stratum?It is an extension to the original Stratum mining protocol, jointly designed by Slush and ckolivas, the maintainer of cgminer.If your mining pool supports the extension and your Internet connection has a hiccup, the server may still accept any shares that your miners found while disconnected, if they reconnect and submit them within a reasonable time.As simple as this may sound, it is actually tricky to implement this feature correctly, because Stratum is not a stateless protocol.