Best ethereum pool to join

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Mining pools are simply groups of miners that work together to mine Ethereum. Joining a pool helps to lower the volatility of your payouts by providing smaller, more frequent payments rather than a lump sum that you only receive when a block is solved. You should also consider the server location of the pool when deciding which is best for you.

The closer your mining rig is to the server, the more efficiently it can mine. In this article, we highlight three of the best Ethereum mining pools so you can confidently decide which one to join:. Ethpool and Ethermine are operated from two different websites but contribute to the same pool. Ethermine currently has over , miners using the pool software while Ethpool has a little under 1, Ethermine allows you to set the minimum payment threshold needed to receive your rewards.

If you want to receive your payments infrequently, you can set the threshold to the maximum of 10 ETH. Set your threshold to the 0. The default minimum payout threshold using Nanopool is 0. The platform also has an extensive help and FAQ section to assist you in getting started.

It walks you through how to set up your miner, configure the pool settings, and links you to the appropriate mining clients. Beyond that, the help section also guides you on which type of hardware is best suited for Ethereum mining. You can mine with a CPU but your rewards will be few and far between, making it not worth the effort.

The Nanopool team addresses this in their FAQ section. There are two main reasons for these differences:. Your account balance needs to reach 1. Dwarfpool also supports the mining of other coins such as Monero , Zcash , Expanse, and Groestlcoin. However, if you make use of the numerous mining pools out there, you will receive less money but more frequently, which might prove more profitable in the long run. In the early days of the cryptocurrency, it was considerably less resourceful for the casual miners to get rewards.

However, the nature of any cryptocurrency is its fixed amount of coins that can be mined as well as the increasing difficulty depending on the miners involved in the process. Therefore, mining becomes more demanding regarding the power of the mining rigs and the energy consumption, thus it becomes less profitable, if not unprofitable at all, to be a solo miner. For that reason, developers invented mining pools, where casual cryptocurrency miners can still benefit from their personal computers or dedicated mining rigs, which otherwise would prove ineffective.

As mining by yourself would generate very infrequent income, ranging from once or twice a day to once in a month or two, depending on your hardware installation, mining pools ensure that every miner is paid regularly, which is the preferred income inflow of most of the users. The first mining pool was invented in December , just two years after Satoshi Nakamoto published the blockchain technology. While being part of a mining pool boasts many advantages, it also has its downsides.

In this paragraph, a comparison between pool mining and solo mining will be drawn. The design of a mining pool aims to address the irregularity of the income, or in other words the time intervals between two successful creations of new blocks. While solo mining, depending on your computational power and the hash rate of your mining rig, theoretically, you are going to mine a certain amount of coins in a month.

However, such calculations are just guidelines, which means that you might earn twice the anticipated amount in a week, or with some bad luck earn less than calculated in over a year. Thus, mining pools provide steadier income for its users. The mining pools are designed for people, who are incapable of investing a lot in advanced mining rigs.

Therefore, mining pools are serving the purpose to bring profit to the casual miners. For that reason, being part of a mining pool noticeably reduces the costs of operating a mining rig. Due to the fact that mining pool provides more stable flow of income, it might prove more profitable in the long run , as solo mining brings profits in erratic intervals.

Furthermore, the maintenance of the pooling network is not your responsibility , which if mining on your own might be troublesome for non-programmers to deal with. Since a mining pool network is somewhat centralized, thus operated and maintained by a group of developers, it can be a victim of cyberattacks , if cyberterrorists consider the effort and risk of attacking the mining pool, you are currently taking part of, worthwhile. Also, as any other system operated by humans, it can experience a downtime when it is not operating due to an issue in the network.

While the network is inactive, your mining rig will also be out of work, thus it will not generate any income. Because the nature of the mining pools is to make use of the collective computational power of the mining users, the block rewards are distributed equally to the contributors.

Although the reward distribution seems fair at first, it is still dependent on the contribution of each user to forging the new block. In other words, the more advanced mining rig, the bigger the returns. All in all, the rewards given in a mining pool are significantly less than solo mining. To be part of a mining pool, you must join already developed ones, which charge an additional percentage of your earnings.

However, this system always pays your share, even if the mining pool does not successfully forge a new block. This system provides bigger flow of income due to the additional rewards. If you are already planning to join hands with other minters in a mining pool so to get more frequent income, it is vital to consider several things before joining a certain mining pool network.

There are 3 factors to keep in mind when selecting the an Ethereum mining pool. In exchange of a faster mining and regular rewards, mining pool providers charge a fee on your income. Reputation is undoubtedly the most important factor when considering a mining pool.

It has happened numerous times that new and untrustworthy pools scam people into joining their network and later shut down and disappear untraceable, leaving the miners with nothing. As already mentioned, there are over 15 payment methods in existence, thus different pools have different payout policies. The first thing to consider is the frequency of payout — they differ from daily, weekly, monthly or when a block is forged.

Another factor to consider is the minimum payout threshold set by the pool provider — some might require you to earn hefty amounts before being able to withdraw, something that might not appeal to you.

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It is essential that you choose the most reliable and the right pool that meets your expectations. This post covers the most popular and the best Ethereum mining pools. Now before you pick a pool from the list below and start mining ETH lets understand why you should join a mining pool. Successful mining involves both computational efforts and significant amounts of luck, along with lots of patience.

You can mine Ethereum either by solo or by joining a mining pool. You are not going to make it if you are looking to solo mine Ethereum especially if you are small to medium sized miner. So the only way to make profits mining Ethereum is by joining a mining pool alongside with bunch of other miners. Solo mining gives you larger rewards when you mine a block. But since the network effects are enormous the chances of mining a block alone is extremely unlikely.

Ethereum mining pools are simply a group of miners that work together to mine Ethereum. They get united and share their hashing power to increase the changes of mining an Ethereum block. By joining a mining pool you are combining your resources with other miners all over the world. Once a pool finds a block the block reward is split between the pool participants. Even though each pool has its own payout method all these pools mainly account how much each miners have contributed in solving a block.

The rewards shared will be in direct relation to the mining hash power that each one of them contributed to the pool. Due to the availability of large number of mining pools it has become very difficult for solo miners to find blocks. They own hashing power close enough to that of mining pools. If you are one of them then you should stop mining on Nicehash and start mining with pools directly.

Beginners think they are mining Bitcoin on Nicehash. No, you are mining Ethereum and getting paid in Bitcoin. When it comes to choosing mining pools we are often hearing Nicehash over and over again. First of all Nicehash is not a mining pool. Its an application that uses multiple third party miners to mine different algorithm and coins. It switches between coins randomly depending on their profitability. The mined coins are instantly converted to Bitcoin and that is what you are getting paid in.

NiceHash is a hashpower marketplace. When you are mining with NiceHash you are basically renting your hash power to others who are looking to mine a specific algorithm. For renting your hashpower you are getting paid out in BTC. This services is great for small miners mining from their home Windows PC.

But still not as great as mining ETH directly through a pool. The only advantage of this service is that it provides easy to use application. Beginners think it makes mining simple. Increase your profits by mining Ethereum with pools. According to miningpoolstats. It displays the list of all active Ethereum mining pools. The list keeps changing and is ranked based on the pools hashrate. So how do you choose the pool and which one from the list is the best Ethereum mining pool?

Also consider the server location of the pool. The closer your mining rig is to the server, the more efficiently it can mine. Some pools are better for miners from certain regions of the world. For example: f2pool, spark pool, spider pool and bee pool are best for China. Anyways most of the mining pools offers multiple server locations so that the miner can choose the server that is close to their location.

So now which mining pool is the best? There is no straight answer to this question as it depends on several factors. Each pool has their pros and cons. In general there are few attributes you may want to consider when comparing pools like: Payout method used by the pool, pool size, pool fees and the minimum payout threshold.

The first thing you need to consider is the fees charged by the pool. How much does the pool charge? There are certain pools that charge as low as 0. Pick the one that seems fair to you. Ethermine; one of the largest ETH mining pool used to have a minimum payout of 0. But now its 0. Especially if you are small miner or mining from your gaming PC with a single graphic card.

For example Ethermine pays out every two weeks if your balance is below 0. Unpaid balance above 0. If you want your payout earlier then find a pool with payout lesser than 0. Other than pool fees take a look on the transaction fees charged by the pool. This is something that is not charged by pool but by the miners. Some pool pays their miners with 1 Gwei transactions into their own mined blocks.

Such pools have zero transaction fees. You fully get what you mined. For example Ethermine has no transaction fees. That is once you reach the minimum payout threshold of 0. There are certain pools that uses your balance amount to cover the transaction fees. There are certain pros and cons to mining on large pool vs small pool. Its really up to you whether you wish to join a mining pool that represents a huge part of network hashrate or the one that has the moderate hashrate.

Currently Ethermine is one of the largest Ethereum mining pool. With large mining pools the chances of finding blocks are higher but your payout will be smaller. With small pools the payouts are big but the time taken by these pools to find blocks will be longer. Another most important thing you need to look at is how are payouts calculated.

Is the pool only paying you the block rewards or they including both transaction fees as well as the reward from uncle blocks? Every pool has its own payout structure. PPS has some flaws. It only rewards miners with block rewards and it does not allocate TX fees.

It protects pool owners and stops people from pool hopping. Moreover with this method miners receive block reward, uncle rewards as well as transaction fees. It prevents issues for mining pool operators and also gives miners a more steady income.

Your mining income varies depending on the payment method used by the pool. So choose the one that has a payout plan that suits your setup. Ethermine currently has over , miners using the pool software while Ethpool has a little under 1, Ethermine allows you to set the minimum payment threshold needed to receive your rewards.

If you want to receive your payments infrequently, you can set the threshold to the maximum of 10 ETH. Set your threshold to the 0. The default minimum payout threshold using Nanopool is 0. The platform also has an extensive help and FAQ section to assist you in getting started. It walks you through how to set up your miner, configure the pool settings, and links you to the appropriate mining clients.

Beyond that, the help section also guides you on which type of hardware is best suited for Ethereum mining. You can mine with a CPU but your rewards will be few and far between, making it not worth the effort. The Nanopool team addresses this in their FAQ section.

There are two main reasons for these differences:. Your account balance needs to reach 1. Dwarfpool also supports the mining of other coins such as Monero , Zcash , Expanse, and Groestlcoin. Most of the largest ones are fairly reliable and have a similar fee structure. Hodlnaut vs. Voyager Invest is a comparison worth making. While the mainstream has yet to…. Steven Buchko. What are the best mining pool options?