Feb 12, · If you are deciding to join a Bitcoin or altcoin mining pool there are quite a few considerations to take into account – mainly their method of distributing the block reward and the fees they charge for managing the pool. Pools also try to stop cheating by . Jan 17, · There are lots of pools for mining Bitcoin. Pool is a group of miners which are join in order to get more profit. The sense of cooperative work lays in the fact that this mining type brings more bitcoins. Everyone makes a few numbers of algorithms and at the end, the group of miners shares block rewards in proportion to their mining hash power. May 02, · Mining pools allow individual miners to join their mining resources with other miners, to improve their chance of mining a block and earning Bitcoins. There are several pools to choose from, that are different in size and the payment methods they offer.
Join a mining pool bitcoin9 Best Bitcoin Mining Pools: Legit Sites ( Companies)
In this situation, its complexity began to increase. First, successful mining required a special video card, then reprogrammed chips. Today, there are devices called ASICs which are high speed and low energy consumption. But solo-mining mining bitcoins alone has lost its relevance. The cryptographic tasks has become so complex and expensive that costs have not paid off. Therefore, users decide to join the pools. In this case, a unified system, including dozens or even hundreds of thousands of computers allow mining cryptocurrency much faster.
First of all, you need to set up a Bitcoin wallet where you can keep money. For example, Copay is a one of the examples of Bitcoin wallet. Bitcoins are sent to your Bitcoin wallet by using a unique address that only belongs to you. You can purchase a wallet by downloading a software client to your computer.
Also, download a special program used for Bitcoin mining. The biggest pools are situated in China. You can start mining in one of the pools and then redirect the hashing power to another mining pool at anytime.
There are two types of mining pools: free and private. If the mining pool is free the join process is very simple. As in any business, you have to make small investments of time and finances for being on the wave of success in the future. Blockchain Basics. Technology News. Market News. Category Reviews. Why do we need mining pools? Bitcoin mining software Choose the best mining pool Top Bitcoin mining pools How to join Bitcoin mining pool?
Latest Update: Jan 17, Jay Dayrit Cryptocurrency Calculator. Don't miss a single story. Subscribe to our free newsletter and follow us. Have a breaking story? Let us know here. Minimum withdrawal is estimated at 0. The website works on the basis of the stratum mining protocol and VarDiff. It is one of the pools which is in constant search of alternative solutions to mining so it is not surprising that it features new algorithms for mining improvement.
Moreover, miners are provided with tracking apps to follow their earnings. The website of the pool is available in Chinese and English. The payment method preferred is PPS and the fee charged is 1. The minimum threshold for withdrawal is 0. BW Pool was founded in and has multiple functions in addition to being a mining pool. It has a wallet to store coins and can be used for purchasing and selling coins.
More than 12 thousand blocks have been mined in this pool for the time of its existence. The website of this pool is available in 3 languages.
Mining pool minimum payouts look as follows 0. Transaction fees differ but are about 0. It was founded in and offers not only mining services but also can be used as a wallet and trading platform. This pool targets the Chinese market first of all. The website has an English version too, but both mobile apps are only in Chinese. The service supports CYN fiat currency which can be deposited to buy Bitcoin. Bitfury is a leading blockchain technology company that develops both software and hardware solutions.
It takes the ninth position in the global rating and is located in Georgia. The main benefit of this mining pool is no fees. The company was founded in and in several years began to develop its own ASIC equipment for mining. The most famous hardware for miners is Bitfury Tardis known for its unmatched performance and a user-friendly list of features.
Payouts are performed in several ways offering miners to withdraw funds immediately after they receive them. ViaBTC aims at providing the best mining services always developing and updating its software and hardware.
It serves users from over countries and offers to get a wallet which can be accessed from the mobile device as well. It is possible to join the pool by registering on the platform. It is enough to provide an email and a password to sign-up.
It is possible to authorize the account to get a wider functionality range. Moreover, the greater the difficulty, the higher earnings are received by miners. The last ones can check the earnings history and set up automatic withdrawal function if they want too. The minimum withdrawal amount depends on the currency and is 0. CKPool has been operating for a year only but can boast mining 7 large blocks already.
It is also known as Kano. The reward is paid to the miners only after confirmations about the block maturity. The platform has no payout thresholds but with too low hashing power and reward under 0. To start mining in the pool, it is enough to register an account on the website. It is possible to set up 2FA for higher security. The pool allows mining only Bitcoin and its currency hashrate is 1. The platform has been available only in Chinese for a long time and it is evidence that it is widely spread in the Chinese market, first of all.
Recently, English and Russian languages were added too. The number of cryptocurrencies supported has increased greatly too. The payment method and fee depend on the coin mined. The minimum withdrawal amounts also differ from coin to coin, but it is 0.
The pool has a mining guide for beginners and a user-friendly interface which is easy to navigate. One large pool for mining cryptocurrency is PoolIN. It supports quite a big number of coins to mine and offers multiple tools to increase profits which are quite high. The website offers a calculator to count profit from pool mining by adjusting certain settings and special software developed by the company to save on traffic, synchronize work of several miners, and create additional accounts for every device.
There is also a mobile app offering similar functionality for miner comfort. To start mining on the platform, it is necessary to register an account, create a sub-account, choose a coin to mine, and a wallet address to get payouts. This cryptocurrency mining pool aimed at miners from the countries of former CIS was opened in There is not much information about it, but we can surely say that the facilities of this pool are located in Russia.
To start mining in this pool, it is necessary to connect a miner to the Stratum interface and add a payout address instead of login.
All the payouts are made using the PPS method and nowadays more than 3, payouts have been made for less than two years. The pool allows mining only Bitcoin and a payout threshold is 0. It is possible to count the future income received from mining on the website too. Since there are several mining pools where it is possible to get rewards for blocks found, it is necessary to select one to join and avoid mistakes. Therefore, it is necessary to consider several factors before this choice is made.
Reputation Most of the pools listed in this article have already attracted a certain number of miners who can express their attitude to the mining process there.