Today in this post we will tell about Mining pool. We will explain that what is Bitcoin mining pool and also will tell best mining pool list where you can mine Bitcoin and another crypto coins.
But here before to go with mining pool you need to understand about best mining hardware which are available and also you need to calculate the price of electricity available in your city. If all are profitable at the end then you should go with mining idea of investment.
Here we take give example of China, where electricity cost is very low , so we can easily make profit by running our mining hardware in China.
- Cryptocurrency mining is profitable or not , read article about it by click here.
What is mining pool?
Mining pool is a space for miners to do mining together with big hash power.
So mining pools provide us facility to work together in union to gain more profit.
Mining pools provide us ease to mine Bitcoin and other coins in simple way by guiding us step by step. And also they give new new updates about mining system and mining industry of hardware which provides mining hardwares.
Can we do mining without going through mining pool?
Yes, you can. But for this you need some knowledge to create own pool in our PC system.
You don’t require many type of complicated and programming knowledge.
But keep in your mind that if you will face any type of problem in mining then no one will help you in accurate way. Because everyone in this field of mining is not experienced, so it will be tough for you in dramatic situation of mining programs.
Why we should join mining pool?
Because we get lots of ease to handle our mining work.
And also mining became more easy with the use of mining pool.
We can understand this thing in more technical way : Every pool can mine a single block of blockchain system at one time and then it will go through second block.
So if many people will work together at a single pool then they can make mine a block with more ease.
Otherwise if you will make your own pool and mine a single block, then there are lots of chances that you may fail to mine the single block in a day or a week ( depending upon the difficulty level of blockchain algorithm problems/transactions and also it depends upon the type of the blockchain )
So here we can say that union is strength.
Best mining pools to mine bitcoin and another crypto coins
There are numbers of mining pools available in the internet world, so here we will not list mining pools, we will tell about best mining pools only which are according to your budget and need.
We will cover five mining pools which are
- Ant POOL
- SLUSH POOL
- Kano CK POOL
BTC.com pool is owned by Btc.com website. This is popular mining pool in the mining industry. This pool was started in year 2016. The payout system of BTC.com POOL is FPPS, which means Full Pay Per Share.
FPPS system depends upon the share of the power contribution by the miner.
Maximum the power your will give through your mining hardware, maximum will be the amount of payout.
This mining pool charges 1.5% fees of your mined Bitcoin earning. And the minimum payout is 0.001btc for every miner.
Advantage of BTC.com mining pool
- Pool is big and supported by many miners in the world.
- They makes their own mining hardware
- Minimum payout of 0.001btc
Problems with BTC.com mining pool
- Lots of controversies about Btc.com pool spreaded already, creates some trust issue
- 1.5% charge to use the mining pool
F2POOL mining pool entered in the field of mining in 2013. They give the facility to mine not online Bitcoin but also another cryptocurrency like Litecoin ( LTC), Zcash ( ZEC ) , ETS coin. They charges 2.5% of fee to use their mining pool with the threshold payout of 0.005btc. Their pool have very good user interface, so it is very convenient for those who are new in the field of mining bitcoin and another crypto coins.
Advantage to use F2POOL mining POOL
- We can mine another coin with like LTC, ZEC, ETS
- Good user interface which make it convenient for beginners
Problem with F2POOL mining POOL
- Very high fees to use, which is 2.5%, in comparison with other pool
3] ANT POOL
ANT Pool is based on Bitmain Technologies. The technology of Bitmain pool really incredible because the main reason is that Bitmain provides his own Mining hardwares to mine Cryptocurrency , so we can understand how they can be best to provide mining pool for the miners . Ant mining pool provides two option to get payout, for the miners, PPS and PPLNS.
If a miner will choose PPS option then he needed to pay 2% fees to use the pool. And if the miner will choose PPLNS then he don’t need to pay any amount of fee, which is a good point for those miners who have low budget. Threshold payout of ANT Pool is 0.001btc which is quite low. And also user interface to use their pool is friendly, even a newbie can handle it easily.
Advantage to use ANT POOL miner
- Good interface of mining pool platform, which is making this platform convenient for beginner.
- This is secured mining pool by two factor authentication (2FA ) .
- We can use it free and paid in both way.
- Minimum payout threshold is 0.001btc .
4] SLUSH POOL
This pool is a first mining pool that entered in the field of mining platform services. And in the present time they cover around 11% miners in this world. We can say their contribution in mining is about 11% which is really a good percentage .
User Interface of Slush Pool is really good for beginners. And also they gives new updates regularly.
They charge 2% for the the use of their mining pool. They have a score based system ( actually a system that will tell you exactly the share mining power by the miner ) to reduce the risk of cheating.
Advantage to use Slush Pool
- They have score system to eliminate cheating in every ways.
- Good user interface
- New updates regularly
Problem with Slush Pool mining platform
2% fee is large because another few pools are available to sue at free of cost.
5] Kano CK POOL
Kano CK Pool entered in the field of mining pool services in year 2014.
They gives PPLNS ( pay per last N Group ) system to get your payout, which is very inconvenient for a miner to get reward.
They will pay mining reward earning after the confirmation of block by 101 time , 101 confirmation . This confirmation system makes this pool very slow to pay your mined Bitcoin.
But beside it we can see many types kr factors which are really impressive. Like they charges about 0.9% fee to use the pool. They have two factor authentication system to avoid any type of risk of hacking.
But a bad part of this pool is ,not to have good user interface. It is very tough for a beginner to understand the working procedure with their minning pool.
Advantage of Kano CK Pool mining pool platform
- Low fees, 0.9%
- Two Factor Authentication for extra security
- Best security system
Problem with Kano CK mining Pool
- Bad user interface
- 101 block confirmation system to get credit
According to our budget and understanding we can choose anyone of these pool. If are much worried about the security of your mining earning then surely you should go with those mining pools platform which gives the best protection. And if you have very low budget issue then you can go with those mining pools which are offering to use their pool free of cost .
DON’T MAKE YOUR BELIEVE THAT ONLY THESE POOLS ARE DOING AT THEIR BEST , BUT ACTUALLY NUMBERS OF THE NEW NEW POOLS ARE ENTERING IN THIS FIELD OF CRYPTOCURRENCY WHICH MAY BE BEST FOR YOUR NEED.
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