So here are the basic steps how to set up money transfer from your pool. As a result of your mining you would get some coins as a reward. You will definitely want to transfer this reward time to time to your wallet or exchange account because it is not a good practise to keep everything in the pool. One day your pool can disappear or just go down, when you need your money and there is not much to do about it.
As an example you are mining on pool wemineltc.com. In your pool account preferences you should be able to set an address where your money will be transferred once you decide to do so. Suppose we have created a new address in our wallet and need to put a label for that. In this example I would put wemineltc.com. Now you can copy this address and paste it the appropriate place in your pool account.
You may choose to use different pool. However all the pools must have account details in their menu where you can put down your payment address.
Money can be transferred from the pool manually or automatically. NB! Attention some pools do not have manual payout, so you have to check this before you start mining there. Unfortunately, to find out what you can or can't do on the particular pool, you have to register.
Manual transaction usually cost more than automatic. But as a beginner you shouldn't probably worry about it too much. Just take it as an investment were you have to set some percentages you afford to loose. In my case I cash out, when transaction fee is about 1% of the amount. Transaction fee is usually fixed, like 0.01 LTC, for example. So my amount appropriate for cash out would be about 1 LTC. As time goes you would stick more to automatic cash outs.
Automatic transaction costs less and requires border amount to be set in the pool settings. When your balance would exceed this border value the money will be transferred automatically to the Payment Address you have set in Account Details.
Money can be transferred from the pool manually or automatically. NB! Attention some pools do not have manual payout, so you have to check this before you start mining there. Unfortunately, to find out what you can or can't do on the particular pool, you have to register.
Manual transaction usually cost more than automatic. But as a beginner you shouldn't probably worry about it too much. Just take it as an investment were you have to set some percentages you afford to loose. In my case I cash out, when transaction fee is about 1% of the amount. Transaction fee is usually fixed, like 0.01 LTC, for example. So my amount appropriate for cash out would be about 1 LTC. As time goes you would stick more to automatic cash outs.
Automatic transaction costs less and requires border amount to be set in the pool settings. When your balance would exceed this border value the money will be transferred automatically to the Payment Address you have set in Account Details.