The best Bitcoin mining pools: advantages and disadvantages
Mining pools are communities of miners who combine their strengths and hardware to generate blocks more efficiently. The likelihood of quick hash computation in pools is higher compared to mining cryptocurrencies in solo mode.
All earned coins are fairly distributed among all users. The share of each is calculated based on the capacity of the equipment made available to the pool. This review will present the best BTC mining pools on their own PCs (not to be confused with cloud mining services). Our rating will allow you to find out the advantages and disadvantages of each individual pool, and use this information to the maximum benefit.
Network power: 8.5%
Miners’ commission: 2%
Payout system: Score
Slush Pool is the very first pool for mining the main cryptocurrency, which opened back in 2010, when few people knew about it yet, and became a pioneer and an example for the following projects. The company is managed by SatoshiLabs and is headquartered in the Czech Republic.
To calculate the remuneration of miners, the Score formula is used (the reward depends on the time since the share is provided). This prevents the outflow of members to competing pools.
SlushPool is a medium-sized pool with a network capacity of 8.5% (information as of February 1, 2018, according to information from the Blockchain.info portal). Commission for each payment transaction 2% (distributed among miners). Automatic withdrawal of mined Satoshi is available after reaching a certain value. This service allows you to mine another popular cryptocurrency – Zcash.
The SlushPool interface is quite simple, comfortable, provides detailed details and systematic updates. Despite the fact that this VTS-pool is not the largest, it is one of the most effective.
The advantages of the mining pool SlushPool are as follows:
- the first and one of the most reputable services on the market;
- calculation of rewards using the Score system minimizes the possibility of deception;
- simple intuitive panel.
The disadvantages include a high commission of 2%.
Slush Pool is a popular high power pool that many beginners start with.
Network capacity: 17.4%
Miners’ commission: no commission or 2.5%
Payment system: PPLNS or PPS
The largest service Antpool is based in China and operated by Bitmain Technologies. It accounts for 17.4% of the computing power of the network (second result). The main advantage is the ability to choose the method of calculating the remuneration from two possible ones:
- PPLNS (no commission);
- PPS (with 2.5% commission).
Payments for work are made once a day, the lower threshold is 0.001 BTC. A control panel with detailed information about income, block calculation speed, etc. will be understandable even for beginners. It is possible to configure the security level (including two-factor authentication), blocking wallets, and a notification system via e-mail.
Antpool has a rich history, is highly respected among miners and is considered the best option for beginners.
The advantages of this Bitcoin mining pool are as follows:
- the ability to choose a calculation method;
- simple interface;
the ability to install
- security functions.
Network power: 0.4%
Miners’ commission: 0.9%
Payment system: PPLNS
The small-sized Kano CKPool (or Kano Pool) has been operating since 2014. Calculation model with miners – PPLNS (reward depending on the latest data in the pool of N-shares), commission – 0.9%. As of the beginning of February 2018, its share is 0.4% of the network capacity. The number of calculated blocks is 2-3 per day.
Unlike other services, Kano Pool only supports Bitcoin mining. There is no minimum payment threshold – you can receive small but regular payments for the provision of computing power.
The interface of the site clearly needs updating (many useful functions are missing). It is possible to connect two-factor authentication as an additional security measure.
The advantages of the pool are as follows:
- no restrictions on payment;
- open friendly community, prompt technical support;
- relatively low commissions.
The disadvantages include only an inconvenient interface.
With large commissions, F2Pool is still in demand.
Network power: 1%
Miners’ commission: 0.5%
Payment system: PPS
Eligius mining pool is one of the oldest (opened in 2011). The head office is located in the USA. Small in size, controls only about 1% of the total computing power. Supports mining bitcoin and namecoin. It is very easy to become a member of the Eligius community – registration is not provided.
The main advantage of the service is the complete absence of commissions. Miners receive one hundred percent reward for calculating the hash, including payments for operations. The more power a pool member has, the faster he receives payments. Benefits:
- lack of registration;
- the possibility of mining namecoin.
- The disadvantage is the
availability of mining only for ASIC owners.