I am writing this article because of the many questions hitting my email from amazon as well as others asking if you can use an Antminer S3 or S5 to mine Litecoin, Most uneducated people automatically say no without truly informing that person that it is possible to sell their hash power and be paid in any coin such as Litecoin, Dash, Dogecoin, Z-cash, and many others. Here is how it is done.
What you need to do is choose a multi-algorithm crypto mining pool that mines multiple coins. Then you can see if the coin you want to be paid in is listed on that pool. If it is, all you need to do is set up your ASIC Antminer to the pool and the port of sha256,usually 3333, then in the password you must type c= <the coin symbol of what you want>
I am not one that mines a single coin, because I leave the miners mining a single coin for the conversion to a staking wallet only. This is me and this is what works for me. Now let us look at the pros, and cons of this. This way you get the entire information and not one opinion from a person who does not know mining at all.
Mining like this usually returns more for your hash power because these pools are designed to mine multiple coins of that same algorithm to get the most out of your time.
You can actually get paid for your hash power in any currency that the pool mines, regardless of the actual algorithm of that coin.
These pools actually serve a purpose as well, as many crooked individuals attempt to manipulate the currency to crash, this pool must work with an exchange in order to provide some kind of balance and stabilization to the currency
Payouts can be made several times a day, or week when the minimum is reached, usually this is much quicker than mining a specific coin.
Mining any other coin other than bitcoin, may result in the pool actually running out of that coin. You must be prepared to switch to bitcoin, until the amount of currency behind is mined.
If the coin being mined runs low when you are sleeping you will not know this until you wake up.
Need to monitor regularly in order to ensure your coin that you are wanting to be paid in is still stable.
These pools also accept Antminer D3 and many other newer miners to help with the stability.
If this is what you want, then you can do like I do and research the right pool for you. I hope this helps you with your profitability.