So, because of emerging crypto users here, crypto mining and miners become more important to run crypto transactions smoothly.
If you are one of those people who want to mine crypto or curious about crypto mining, then you are in the right place.
I will show you about crypto mining and some popular crypto mining pool in detail as much as possible. So keep scrolling and reading.
Table of Contents.
➤What is a crypto mining pool?
➤Crypto mining methods or types.
- Cloud mining.
- CPU mining.
- GPU mining.
- ASIC mining.
➤10 crypto mining pools.
- Binance.
- Bitcoin Pool.
- OKex.
- Nicehash.
- HuobiPool.
- Minergate.
- SlushPool.
- F2Pool.
- ViaBTC Pool.
- BTC Pool.
➤FAQ about crypto mining pool.
What is a crypto mining pool?
There is a higher chance you have heard about bitcoin mining word, so crypto mining is a similar word as bitcoin mining and applies to all minable cryptocurrencies.
In a simple word, crypto mining is the process of creating new coins (only minable coins) by solving a hard computational arithmetical problem.
On other hand - Bitcoin mining is performed by high-powered computers that solve complex computational math problems; these problems are so complex that they cannot be solved by hand and are complicated enough to tax even incredibly powerful computers. Here, read more.
But, we are looking crypto mining pool so mining pools are groups of people or company who want to share some block rewards to the person has contributed to mining has power.
Crypto mining methods.
There are few methods or you can say crypto mining ways. But if you look for popular ways of crypto mining, then there are four ways.
1. Cloud mining.
Cloud mining is a process where you pay someone (most often it’s a big corporation) a specific amount of money and “rent out” their mining machine.
This is the easiest way to start crypto mining in which you don't need any types of equipment but have to pay a big amount. This crypto-mining method for a person who doesn't know any technical work and about blockchain.
This method is the most popular because it doesn't require any types of equipment, house space, electricity bill, maintenance. Just buy a cloud mining contract and watch.
2. CPU mining.
Do you have a computer or laptop then this is for you? Ooh! wait so you can earn money with your PC by crypto mining. The answer is hell no, why? Because it is one of the slowest crypto mining method and also your PC not made for this.
You can start mining in your PC to earn a few dollars, but for a few dollars, you have to burn your PC. So I will suggest you to not do this.
3. GPU mining.
This crypto-mining method is popular among users who want to manage mining with their own hands. In GPU rigs utilize graphic cards to mine cryptocurrency.
This method is costly, especially GPU rigs and other things such as electricity bill, warehouse bill, setup cost.
4. ASIC mining.
Means Application-Specific Integrated Circuits. It is an advanced method of GPU mining.
Here you can read in detail about crypto mining methods.
Yes, you heard right Binance also has a crypto mining pool service that enables the user to get a higher profit by auto-switching hash rate to mine different currencies with the same algorithm.
Binance Smart crypto mining Pool is supporting the SHA256 algorithm and the hash rate of users can be switched among BTC, BCH, BSV.
I don't think so I have to explain about Binance and how its crypto mining pool works because they already have a great tutorial for you.
They said we guarantee the final income of users generated from the crypto mining pool in BTC, BCH, BSV.
Binance recently launched ETH mining pool so you can also mine ETH coins that support ETHASH algorithm.
Read here how to create a Binance mining account and its setup.
2. Bitcoin pool.
Bitcoin.com crypto mining pool does not support CPU or GPU mining, so you must have (any) bitcoin mining ASIC over 300 GH/s.
If you look for income, it offers BTC-98% and BCH-98% reward generated from the block, and also extra block rewards come from transaction fees. For example, if the block reward bonus is 105%, the 5% comes from transaction fees.
The best thing about this crypto mining pool, you can set your account hash rate to mine either Bitcoin Cash (BCH), Bitcoin (BTC), or both on the "Auto-profit" pool, but it's only for paid users.
3. OKex crypto pool.
Do you think bitcoin is expensive for mining and not giving enough income for my work then try OKex one of the largest crypto exchange platforms?
On, OKex not just BTC, you can also mine 11 different coins by participating in the crypto mining pool. Like Binance they also offer guaranteed income on a daily basis.
To start with OKex crypto mining pool, just create an account and connect your pieces of equipment. Below you can see all minable coins listed OKex crypto mining pool.
4. Nicehash crypto pool.
It supports a wide range of algorithms for ASIC miners and you can mine BTC, ETH, LTC while the payouts rate is about 0.001 BTC that is extremely low.
Like I said, it also has cloud mining so if you don't have any crypto mining equipment then you can buy it on a contract basis.
Some cloud mining contract prices are given below but remember it varies according to bitcoin price.
You can see all the actual prices here of cloud mining.
5. HuobiPool.
We have talked about Binance and OKex then how can we forget HuobiPool. It has a total of 6 coins such as BTC, ETH, BSV, ETC, LTC, DCR, listed in a crypto mining pool.
HPT-HuobiPool Token is the global ecological certificate of HuobiPool. It has opened up a new mining experience based on the global eco-certification HuobiPool.
6. Minergate crypto pool.
Minergate is CPU and GPU friendly so if you don't have crypto mining equipment then try your computer devices and give a kick start.
7. SlushPool.
On it, you can mine Bitcoin and Zcash with your ASIC machine. The payout amount is moderate about 0.001 both BTC and ZEC, while the pool fee is 2%.
SlushPool gives a demo account to its new users, so try it at least one time (because it's free) to see how a crypto mining pool dashboard work.
8. F2Pool.
It supports over 40+ coins for mining and that makes it a platform that has listed the highest mining cryptos.
9. ViaBTC crypto pool.
ViaBTC has served users from 130+ countries (regions) with secure & professional services of cryptocurrency mining, mined coins worth billions of dollars.
The function of ViaBTC is great and offers you to mine over 15+ coins including BTC, ETH, BCH with your mining equipment.
Like other ViaBTC also got cloud mining for you with the lowest price than other cloud mining pools. It also has a VIP application pool that gives high hash rate speed and increases crypto mining income.
10. BTC pool.
Real-time display of comprehensive currency data, faster grasp of mining trends.
New interactive interface for smoother user experience.
Supporting coins - BTC, BCH, BSV, ETH, ETC, LTC, DCR, DASH, ZEC, CKB.
FAQ about crypto mining.
➤Which method best for crypto mining?
Of course, GPU mining maybe it's costly but effective too. You can also go for cloud mining but be care full in choosing crypto mining platforms because you have to spend thousands of dollars and a mining platform will take a few minutes to disappear.
➤Is crypto mining profitable?
Yes, it is profitable if you choose the right crypto mining method and coin.
➤How to choose a crypto mining pool?
There are lots of criteria to choose a crypto mining pool such as pool fee, payouts, pool transparency, stability, and many more.
You can read a deep analysis of How to Choose a Cryptocurrency Mining Pool.
➤Is it worth mining bitcoin?
Yes, many people believe bitcoin mining is profitable, but it gets more complicated because day by day bitcoin mining difficulty increasing. The all-time high mining difficulty of bitcoin was in March 2020.
Read here is it worth mining bitcoin or not.
Stay away from platforms offering free crypto mining and hundred percentage payment guarantees those are totally scam. You can try cloud mining those are cheaper than GPU and ASIC crypto mining.
So that's all let me know if you have any questions about the crypto mining pool and I will try to solve as much as possible.✌
*Note - Crypto mining is risky, and this article is only for information purposes.
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