2020 seems not to be the greatest year for holding cryptocurrencies so far, but this could be a good time to join a pool and start mining. In this review we will have a quick look at best crypto mining pools for today.
What we will review today:
What is a crypto mining pool?
A mining pool is where several crypto miners join their computing resources to “mine” a cryptocurrency block. Each contributor gets a share of profit, that is usually proportional to work contributed.
Every crypto miner can decide whether to mine solo or join a pool. The biggest benefit of pool mining is that chances of mining a block is much higher when many miners combine their computing power. Since, many mining cryptos have become increasingly difficult to mine, so is a chance of success for solo miners to achieve profit. Pool mining requires less hardware and power from each individual. Moreover it still has high chances of profitability.
How to choose the best cryptocurrency mining pool?
There are three main features you should count on. Pool size, fees and reliability/stability. Let’s take a look at each of them.
Pool size usually means payout frequency. The bigger the pool the more frequent are payouts. This does not mean that larger pools generate more revenue over time. They just have more regular payouts for miners.
Also, size could indicate whether pools are trustworthy or not. A large number of active miners could mean that the pool is more reliable.
Having all that in mind larger pools are not always better, but in some cases they bring more stability.
The fees play a big part in what would be considered choosing a right pool. Most pools use different commission sizings for different payment methods. You will often encounter these methods PPS, PPLNS or SOLO. In addition to this some pools may apply transaction fees since cryptos may be mined only to their exclusive crypto wallets.
What are PPS and PPLNS pool payments methods?
PPS – Pay Per Share – this payout system eliminates luck. Each miner receives a proportionate amount of mined block reward to work committed. The problem here is that if the pool doesn’t get the reward miner still gets it. In other words, in the short term variance may occur to the pool operator leading to paying miners from its ongoing balance. This is a risk for pools, so usually PPS fees are higher because of that. On the other hand, payouts are more regular.
PPLNS – Pay Per Last N Shares – this payment method offers miners a percentage of shares they contribute to the total shares. Using this method you only get paid only when a block is found. As the amount of blocks found by the pool varies so is your payments. This method includes luck, but is advantageous in the long term. Since it adwards loyal pool members.
Reliability and stability
Last but not least you should consider the pool’s stability and reliability. Things such as whether it is trusted by the crypto mining community, or even reviews could be helpful. Thousands of forums exist about cryptocurrencies. So, you shouly read honest reviews from users to get a full picture before trusting a mining pool.
How to start mining cryptocurrencies?
First of all as we’ve discussed before you should find a mining pool. In this article we won’t go deep into mining details. In this article we will look at the best crypto mining pools for today. We will find out the operational cost, benefits and features of each mining pool. Hopefully by the end of the article you will be able to decide which pool suits you the best.
Let’s start with one of the largest mining pools in the World – Poolin.com. It is China based and it is a multi-currency pool with such popular coins as Bitcoin, Bitcoin Cash, Dash, Ethereum, Litecoin and Zcoin.
Poolin has the highest hashrate for BTC, ZEC and LTC in the world. Their goal is to provide miners with stable and high profit. We’ve discussed the importance of mining pool size before and it is obvious that one of the biggest pools in the world has so much to offer for its users.
Poolin mining fees are the following:
- BTC: 4% FPPS
- BCH: 4% FPPS
- BSV: 4% PPLNS
- LTC: 3% PPS
- DASH: 2% PPS
- ETH: 3% PPS
- ZEC: 3% PPS
- DCR: 3% PPS
- RVN: 4% PPS
These rates are rather competitive in today’s mining markets and the minimum payouts are:
- Bitcoin: 0.005 BTC
- ZCash: 0.01 ZEC
- Litecoin: 0.01 LTC
- Ravencoin: 1 RVN
- Ethereum: 0.1 ETH
- Decred: 0.01 DCR
- Dash: 0.005 DASH
- Bitcoin Cash: 0.01 BCH
- BSV: 0.01 BSV
- VCash: 0.1 VCash
- Namecoin: 0.001 NMC
- Doge: 0.001 DOGE
But Poolin offers no minimum withdrawal amount if you are using Bixin or Mixin wallets.
When it comes to the features Poolin can offer some really useful tools. There are some of them:
- Smart Agent for LTC, BTC, ZEC. Smart agent is a proxy acting as a connection between miners and mining pools. It is designed to increase the effectiveness of miners and save network traffic.
- Transaction Accelerator pushtx.com – is a transaction accelerator that allows its users to get faster confirmations on crypto transactions.
- Offline keeper – a software that reduces damage to mining equipment in case of network blackout.
- Merge-mine for Dogecoin, Vcash and Namecoin. Merge-mining is a type of mining when two or more cryptos are mined with the same hash power at the same time.
Are you looking for something more than just a mining pool? Then NiceHash has so much to offer for you. It is a crypto mine, hash power sharing service and crypto exchange all in one place.
Starting business in 2014 NiceHash became the largest hashpower marketplace in the world. The platform is easy to use and is very beginner friendly. For instance anyone with at least 0.005 BTC deposit can start buying hash power. Choose the crypto you would like to mine, pick the algorithm and you are good to go.
NiceHash is all about sharing economy. With NiceHash you can sell your hardware power for crypto miners. Or if you don’t have a powerful machine you easily buy hash-power from thousands of users. These service options increase the amount of users tremendously.
Service fees of NiceHash are applied to both hash power buyers and sellers. Buyers have to pay 0.0001 BTC fee for all new orders and 3% fee from total order. Other side, the sellers have variable commission fees. For payouts less than 0.1 BTC to external wallets they have to pay a 5% fee. Larger than 0.1 BTC payouts have 3% fees. But if you are doing payout to internal NiceHash wallet for balances greater or equal to 0.001 BTC there is only a 2% fee.
- Hash Power Marketplace lets you buy and sell mining power from other people.
- NiceHash OS
- Profitability Calculator calculates the profitability of mining.
- Stratum Generator lets you direct hash-power to NiceHash from third party miners.
- NiceHash Exchange is an inside crypto exchange that lets you trade various cryptocurrencies. Also compatible with trading bots as BitsGap.
The biggest hash marketplace in the world, with a super easy interface is really worth trying. Whether you want to play around or try building steady monthly income from crypto mining, NiceHash is the place to go.
Try NiceHash services yourself by clicking here.
MinerGate is an open mining pool for more than 10 cryptocurrencies. It is a place where miners join their hash-power to acquire cryptos. Simply download and the program, run it on your device and you are good to go.
For now you can
MinerGate has two different reward methods – PPLNS and PPS. Both of these methods have their own fees systems.
Both PPS and PPLNS payout systems are used in MinerGate.
|Currency||PPS method fee||PPLNS method fee|
There are some cool features that let MinerGate stand out of other mines.
- MinerGate PRO – Merged Mining for CryptoNight ASIC miners. This feature lets you mine Monero-Classic (XMC) and get BCN without losing the hasrate.
- Lumi Wallet – a cryptocurrency wallet for Bitcoin, Ethereum, EOS and ERC20 tokens. You can find the app at Google Play and App Store.
- MinerGate Token – it is a loyalty token for the MinerGate community. MG token is for loyal and newcomming MinerGate users. It is powered by EOS technology.
MinerGate is very newcomers friendly and is super easy to use. It will take literally 5 minutes from software installation to mining even if you don’t have any technical knowledge. In addition, it is completely compatible with NiceHash, so no worries if you don’t have a powerful machine.
Try MinerGate yourself now!
When we are discussing Bitcoin, Litecoin or BitcoinCash mining ViaBTC name comes up often. It is one of the largest mining pools in the World, offering services such as cloud mining, exchange and also great rewards for miners.
ViaBTC – is one of the leading cloud mining services in the market right now. Cloud mining is super easy to begin, just create your account, select hashrate and pay. That’s it you are now mining crypto, just like that!
Also, ViaBTC is highly secure and stable. It offers full transparency, real-time statistics of hashrates are accessible any time. And last but not least they offer really competitive fees and rewarding loyalty program.
By the way now you can get great 50% off FEES for 30 days deal by signing up on ViaBTC via this link!
ViaBTC supports 3 reward methods PPS+, PPLNS and SOLO. We’ve discussed PPS and PPLNS methods already and the SOLO method just gives all block reward to the miner who mined it minus the fee.
For merged mining:
|1 coin mined||Gets you|
- Cloud mining – buy hasrate and start mining immediately.
- ViaWallet – is a multi-chain, multi-crypto wallet that has more than 10 coins and over million tokens. It supports multi-wallet and soon to come it’s own crypto-crypto and fiat-crypto exchange.
- APP – for real-time hasrate monitoring and mobile access to mining profits.
ViaBTC is simply one of the leading cloud mining companies right now. Easy to use, low fees, great reward, stability, security and full transparency, those are the main arguments to give it a shot.
Our last but certainly not least crypto mining pool for today is 2miners.com and it is something different than we’ve talked before. Their goal is to make an open and transparent pool for every size of miner. Everyone will find it easy to work with 2miners.com because of the simple interface and operative support team.
What really makes 2 miners.com stand out amongst other pools is transparency. All statistics and earnings are open in their pools. So, there is no space for shadiness.
Also, 2miners.com main goal is to build a mining community. As they work towards that goal, they must be open and accountable to gain trust from the miners. Therefore, this earns their name as one of the most trusted pools around. In fact, they are officially recommended by NiceHash.
Cryptocoins you can mine at 2miners.com: ETH, Zcoin, BTC Gold, ETH Classics, Monero, Zcash and many others.
The pricing system of 2miners.com is simple.
- PPLNS – 1,0%
- SOLO – 1.5%
If you are searching for a reliable and transparent mining pool the 2miners.com is a place to go. With various alt coins to mine it sure is one of the best in the market right now.