After you have bought your ethereum mining rig, your next step should be joining an ethereum mining pool. These are groups of miners that work hand in hand to mine ethereum. Probably the most important reason as to why you should join a ethereum mining pool is; one, to lower the number of your payouts by giving you a smaller but more frequent payment as compared to receiving a lump sum whenever a block is solved.
When you are considering to join a ethereum mining pool, look for the following elements. First and foremost, one that has low rates but gives reliable returns. Secondly, consider the location of the server when deciding which one is good. The closer your mining rig will be to the server, the easier it will be to mine.
In this post, you will discover some of the best ethereum mining pools that you can join, and they are:
Ethermine and Ethpool
These are two different websites but they contribute to the same pool. They are the largest ethereum mining pool. In addition to that, they have approximately 25% of the net’s hash rate power. Currently, there are more than 62,000 ethereum miners who are using ethermine pool and another 900 using Ethpool.
When you join these pools, they both charge a 1% fee for every reward that you get from your mining. As a matter of fact, their charges are the lowest as compared to most of the ethereum mining pool available in the net today.
This is the third biggest ethereum mining pool. It has more than 13% of the ethereum hash rates. Furthermore, it has more than 38,000 miners. Besides that, its pool rate charge per reward is also low – 1%.
Once you join ethereum, the minimum threshold that you can request for payment is 0.2 ether. However, they allow you to either raise or lower your minimum threshold in your settings. The good thing about Nanopool is that their interface is user-friendly and hence even if you are a newbie, you can be able to use.
According to atozforex.com, this is the second biggest ethereum mining pool. Moreover, it also acts as a mining pool for bitcoin as well. But, the only drawback about this pool is that it is available only to miners from China.
By the fact that Asia has the largest number of digital currency users, it should not surprise you that it is the second biggest ethereum mining pool in the world. Moving on, the F2pool charges 3% for every reward that you get from mining.
Dwarfpool was once the biggest ethereum mining pool, but its hash rate has since dropped to approximately 4.3%. Just like the first and second pools above, they also ask for 1% as the block fee on your rewards.
According to coincentral.com, you can only withdraw from your account when your ethereum balance reaches 1.01 ether. Moreover, in a day, the pool pays its members 6 times in a single day. If you are not using multiple miners or a very strong ethereum mining rig, then this is the right pool for you that has lower payout minimums.
Most importantly, this pool allows you to mine other digital currencies as well. With this ethereum mining pool, you can also mine Zcash, Monero, Expanse to mention just but a few.
It is estimated that this pool generates approximately 7.6% of the hash rates on the ethereum network. They calculate their charges for rewards based on the block finding fee, transaction fee and the bonuses and incentives. Most importantly, the pools have its servers across the US, Asia, and Europe. The good thing about such servers is that they offer you a redundant environment for mining.
You do not need registration to use Weipool. Furthermore, they do not charge any rewards fee for your block rewards. They release their payouts after every 24 hours. However, for you to be able to withdraw any money from them, you must reach a minimum threshold of 1 ETH.
It is to your advantage if you join an ethereum mining pool. There are many ethereum mining pools available. However, the most reliable ones are the big ones. Most of the mining pools have similar charges for the reward fee. From the list of pools that have been discussed above, choose the one that you will be comfortable with and join.