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Mining pools enable individual miners to join their mining tools along with other miners, to boost their chance of solving a block and earning money. There are lots of pools to choose from, that are different in size and the payment methods they supply.

Bigger pools offer more frequent payments, but smaller pools provide greater rewards (since the payoff is split among less miners). Here are the best Bitcoin mining pools today:

SlushPoolPool size:Medium-LargePayment options:Score-basedAverage fees:2%Overall rating:4.5 Star RatingAntpoolPool dimensions:MediumPayment options:PPLNS, PPS+Average prices:1%Total rating:4.5 Star RatingBTC.comPool size:LargePayment options:FPPSAverage prices:1.50%Total rating:4 Star RatingF2PoolPool size:Medium-LargePayment options:PPS+Average fees:2.50%Overall rating:4 Star RatingViaBTCPool size:MediumPayment options:PPS, PPLNSAverage prices:3%Total rating:3.5 Star RatingKano CKPoolPool dimensions:SmallPayment options:PPLNSAverage prices:0.90%Overall rating:3.5 Star Rating

If you want an indepth understand of how mining pools work and reviews of every one keep on reading. Heres what Ill cover in this article:

If you previously read our guide on Bitcoin mining, you know that new Bitcoins enter the circulation as a decoration for a miner who manages to guess that the solution to a mathematical problem. The winning miner get to add the latest block to the blockchain and upgrade the ledger.

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By design, the further miners you have, the more difficult the problem gets, and vice versa. This system is called mining difficulty and it was designed to regulate the circulation of new Bitcoins into the system (i.e. to prevent inflation).

Bitcoins popularity boost made the mining problem sky rocket and rendered home mining operations pretty much obsolete. As more and more people jumped on the mining wagon, the mining problem rose to a point that it became unprofitable to mine using a home operation.

Throw in the initial & ongoing costs involved in home mining (buying the equipment, power bills, etc) and not only youre not making any money youre losing it.

Mining pools are basically groups of miners who pool their mining tools together to secure more hashing power. The more hashing power you have, the more chances you have of adding a block and claiming the reward in a given time frame.

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With mining pools, miners manage to solve problem more often than they'd mining . The rewards are then split between the pool members, proportionally to the amount of hashing power their gear contributed to this solution.

The mining pool owner typically charges a fee for setting up the pool too. The pools vary in their payment methods, as well as in the prices they charge and other parameters. In the following chapters we will review different mining pools and ways to decide which one to choose. .

Mining pools differ on several criteria. Here are a few factors to consider when youre choosing a mining pool:

Pool size: Bigger pools provide more routine payments. On the other hand, the payout is smaller due to its shared among more members. Smaller pools provide less frequent payments but bigger payouts. Whichever you decide on, the return should even out in the long term.

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Fees: Some Bitcoin mining pools cost fees, and some dont. Fees can range from as few as 0%, and go as large as 4% away from the reward.

Reliability and security: An important thing to keep an eye out for is if you can expect the pool to not cheat and steal your funds, or not try this out get waxed and lose your earnings. Even though this is true with every third party that holds your money (e.g. a Bitcoin exchange), apply extra caution when selecting a mining pool. .

A fantastic way to mitigate these risks is by joining a more veteran, established pool. Be sure that you also read user reviews until you join, keeping in mind that therell always be disgruntled users so nothing needs to be taken at face value.

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Payout policy: Another thing mining pools change in, is that their payout policies. If you want regular daily payments or get paid whenever a block is solved by the pool, make certain to do your due diligence before you sign to some pool.

Before we can understand how mining pool reward methods operate, we need to understand what shares are, in relation to mining. In other words, stocks are units that permit pool owners to figure individual miners contribution to the hashing effort. Whenever miners are mining via a pool, they receive shares which are proportional to their contribution to solving a block.

To be clear, in regard to the Bitcoin network, shares are invisible, they're only used internally by the mining pools. According to the talk amount the pools payment can have a peek at these guys choose the following kinds:

Pay-per-Share (PPS): In PPS payment strategy, miners receive stocks which can be paid out in any point along the hashing process. PPS allows miners to get paid for shares they received, regardless of whether a block has been solved during their participation. To achieve that, the pool operators pay miners from their own balance.