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Now that you have Bitcoin mining hardware, your next step is to join a Bitcoin mining pool. What's a Mining Pool Mining pools are all bands of cooperating miners who agree to discuss block rewards in proportion to their contributed mining hash electricity. While mining pools are desired to the ordinary miner since they smooth out rewards and make them more predictable, they unfortunately concentrate power to the mining pools owner.

Pool Concentration in China Before we get into the very best mining pools to join, its important to note that many mining pools are located in China. Many only have Chinese sites and support. Mining centralization in China is one of Bitcoins biggest problems at the moment. There are approximately 20 major mining pools.

That is based on info from Blockchains pool discuss chart: We strongly recommend new miners to join Slush Pool despite it not being one of the biggest pools. It was the very first Bitcoin mining pool and remains one of the most dependable and reliable pools, particularly for beginners. 1. BTC.com BTC.com is a community mining pool that can be joined.

2. Antpool Antpool is a mining pool based in China and owned by BitMain. Antpool mines about 25% of all cubes. 3. ViaBTC ViaBTC is a somewhat new mining pool which has been around for approximately one year. Its targeted towards Chinese miners. Slush was the initial mining pool and currently mines about 3 percent of blocks.

 

 

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DiscusFish, also known as F2Pool, is based in China. F2Pool has mined about 5-6% of blocks over the previous six months. 6. BTC.top BTC.top is a private pool and cannot be joined. 7. Bitclub.Network Bitclub Network is a large mining pool but seems to be somewhat dishonest. We recommend staying away from this pool.

BTCC BTCC is a pool and Chinas third biggest Bitcoin exchange. Its mining pool currently mines about 7% of all blocks. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines about 2% of blocks. BW, established in 2014, is another mining company based in China.

 

 

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0percent YesBTCCChina2-3%NoSlush PoolCzech Republic2percent NoAntpoolChina1percent NoBWChina1%No The comparison chart above is only a fast reference. The location of a pool does not matter all that much. The majority of the pools have servers in each country so even if the mining pool is based in China, you can connect to a host in the united states, for example.

Mining Pools vs Cloud Mining Many people read about mining pools and think it's merely a group that overlooks free bitcoins. This is not true! Mining pools are for men and women who have mining equipment to divide profits. Many men and women get mining pools confused with cloud mining. Cloud mining is where you pay a service provider to miner for you and you get the rewards.

 

 

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Buying bitcoins is the EASIEST and FASTEST way to buy bitcoins. Get $10 worth of free bitcoins when you buy $100 or more at Coinbase. That Countries Mine the many Bitcoins Bitcoin mining tends to gravitate towards countries with cheap electricity. Since Bitcoin mining is somewhat centralized, 10-15 mining companies have maintained the vast majority of network hash electricity.

China China mines the most bitcoins and so ends up exporting the most bitcoins. Electricity in China is very economical and has allowed Chinese Bitcoin miners to gain an extremely large percentage of Bitcoins hash electricity. Its supposed that some Chinese power companies point their excess energy towards Bitcoin mining centers so that no energy goes to waste.

Its estimated that these mining pools own somewhere around 60 percent of Bitcoins hash power, meaning they mine about 60 percent of new Get the facts bitcoins. Georgia Georgia is home to BitFury, one of the largest manufacturers of Bitcoin mining equipment and chips. BitFury currently mines about 15 percent of all bitcoins. Sweden Sweden is home to KnCMiner, a Bitcoin mining company based in Stockholm.

US The US is home to 21 Inc., a Bitcoin mining company based in California. 21 runs a large amount of miners, but also sells non powered bitcoin miners as part of the 21 Bitcoin computer. The majority of the hash electricity from the 21 Bitcoin computers has been pointed click to read towards 21s mining pool.

 

 

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Mines about 3 percent of all bitcoins. Other Countries The countries above mine about 80% of bitcoins. The remaining part of the hash electricity is spread across the remainder of the planet, often pointed at smaller mining pools like Slush (Czech Republic) and Eligius (US). What is a mining poolGet that a Bitcoin Wallet and Mining SoftwareThe Biggest Mining PoolsBest Bitcoin Mining Pool ComparisonMining Pools vs Cloud MiningWhich Countries Mine the maximum BitcoinsOther CountriesA Note on PoolsWhy are Miners ImportantAntpool ReviewBitfury InformationBTCC Mining Pool ReviewSlush Pool Review A Note on Pools While we can see that mining pools are the greatest, its important to understand that the hash electricity pointed towards a mining pool isnt necessarily owned by the mining pool itself.

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