Which bitcoin pool to join

Bitcoin mining is a process in which the latest Bitcoins are entered into circulation. By using mining, you can earn money without investing. The size of the mining pool does not matter. The big pools will have a higher probability of finding blocks whereas, the small one requires you to wait longer. But this can be followed by a period where blocks are hit. If you are OK with a regular payout for a long time, it is better to go for smaller pools. In contrast, for the steady income with a high probability and low payout scheme, you may choose a larger pool.

Calculating your Bitcoin mine share can be complicated. Here are some of the methods that can make this calculation easy:. On the other hand, Cloud Mining is a good option for you if you are interested in mining but not ready to buy costly equipment. This type of mining operation generally uses cloud computing so that software, servers, and storage can be accessed from any place and anywhere.

Hash Rate is a unit that measures the processing power of the Bitcoin network. Yes, you can technically mine Bitcoin at home. Considering the complexity of mining Bitcoin, it is very crucial that you invest in the right type of hardware. If you are mining Bitcoin at home, you need to consider hardware electricity consumption. The success rate will be very less. Because nowadays, cryptocurrency is so popular that even a kindergarten kid is mining Bitcoins.

You need dedicated mining hardware to see any reasonable success. Pool mining can produce a constant revenue of smaller values. On the other hand, solo mining can be inconsistent and takes years to mine a single block. While Solo mining wastes your time due to the support of only getwork pull. Payout threshold means amount that represents Bitcoin distribution needed by the partner to receive on a specific date. Skip to content. Here are some basic aspects being considered while choosing a mining pool: Reputation: You need to join the group and see what other people are saying about pool.

This will give you good information from miners who have tried the pool. Pool Fee: You need to a reliable pool with the highest payout and lowest fees. If you are a beginner, then you can try BTC pools with no fees.

Uptime Efficiency: You have to do some research before committing to any pool. It is good to ensure that they have uptime of Location: You should always look for a mining pool running on a server located near you. Some basic criteria to look for are reputation, pool fee, uptime efficiency, location, support, and UI panel.

A popular pool is often reliable and secure such as bitcoincode. Every cryptocurrency pool will require you to pay mining fees, hence it is best to opt for pools that have a high payout and low fees. Like cryptocurrencies, selecting the right mining pool also requires research.

No matter where you are in the world, you should be able to operate the mining functions. Make sure to choose a pool that runs on a server that can be used globally as the response time of the device depends on it.

ViaBTC is a Chinese based mining pool started in , with a worldwide presence consisting of servers in over countries. It is a leader in mining and supports over a dozen coins that includes Bitcoin, Litecoin, Ethereum, and Dash. More than just a mining pool, ViaBTC also has related products such as ViaWallet, their cryptocurrency wallet offering, and multiple cryptocurrency exchanges.

ViaBTC offers some flexibility in the mining fees as there is a choice of how they are paid. While this approach can lead to higher payouts long term, miners are subjected to unstable yields. In SOLO, the entire reward gets awarded to the miner that solves the block, and a small maintenance fee is paid, which can be risky and obviates the benefit of joining a mining pool. ViaBTC also endeavors to provide a level of transparency to its members. With servers all around the world, AntPool incorporates an innovative peer-to-peer mining protocol to link your device to the one nearest to you during setup, for a faster and more reliable connection.

With your account setup and your wallet address entered, payments are sent daily between AM Beijing time which is eight hours ahead of the UK , as long as you've mined at least 0. AntPool allows for transparent earnings, and as it is a larger mining pool it endeavors to offer more options. There is also prompt notification via email, SMS and WeChat, and based upon Hashrate thresholds that are set by the user.

One of the most well-known brands in the world of cryptocurrency, this outfit owns the domain Bitcoin. Before they even got around to starting a mining pool in , BTC. He writes about Windows 10, Xbox One, and cryptocurrency. Facebook Twitter LinkedIn. Updated on March 11, Tweet Share Email. Cryptocurrency What Are Bitcoins? What to Know Join a popular alternative mining pool with a solid community and reputation, such as Slush Pool or CGminer.

Check out the CryptoCompare website, which ranks almost all available pools for quality and reliability. Keep these factors in mind when choosing a new mining pool: fee, country of origin, and reputation. Was this page helpful? Thanks for letting us know! Email Address Sign up There was an error. Please try again. You're in! Thanks for signing up. There was an error. Tell us why! More from Lifewire. A Beginner's Guide to Cryptocoin Mining.

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