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Now you have Bitcoin mining hardware, your next step is to join a Bitcoin mining pool. What is a Mining Pool Mining pools are all bands of cooperating miners who consent to discuss block benefits in proportion to their contributed mining hash electricity. While mining pools are desired to the average 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 best mining pools to join, its important to note that most mining pools are located in China. Many only have Chinese websites and support. Mining centralization in China is one of Bitcoins biggest problems at the moment. There are about 20 major mining pools.

That can be based on info from Blockchains pool discuss chart: We strongly recommend new miners to join Slush Pool although it not being one of the biggest pools. It was the very first Bitcoin mining pool and remains one of the most reliable and trusted pools, particularly for beginners. 1. BTC.com BTC.com is a public 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 about 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 located in China. F2Pool has mined about 5-6% of blocks over the past six months. 6. BTC.top BTC.top is a private pool and cannot be joined. 7. Bitclub.Network Bitclub Network is a massive mining pool but appears 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 percent 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 Republic2%NoAntpoolChina1%NoBWChina1percent No The comparison chart above is just a quick reference. The location of a pool does not matter that much. Most of the pools have servers in each country so even if the mining pool is located in China, you could connect to a host in the US, for instance.

Mining Pools vs Cloud Mining Many people read about mining pools and think it is merely a group that pays out free bitcoins. This is not correct! Mining pools are for people who have mining More Info equipment to divide profits. Many men and women get mining pools confused with cloud mining. Cloud mining is where you pay a service supplier to miner for you and you receive 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 purchase $100 or more in Coinbase. Which 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 claimed the vast majority of network hash electricity.

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

Its estimated that these mining pools own somewhere around 60% of Bitcoins hash electricity, meaning that they mine about 60% of new 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 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 low powered bitcoin miners as part of their 21 Bitcoin computer. Most of the view it hash electricity in the 21 Bitcoin computers has been pointed towards 21s mining pool.

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Mines about 3 percent of all bitcoins. Other Countries The countries above mine about 80 percent of all bitcoins. The rest of the hash power is spread across the remainder of the planet, often pointed at smaller mining pools such as Slush (Czech Republic) and Eligius (US). What's a mining poolGet a Bitcoin Wallet and Mining SoftwareThe Biggest Mining PoolsBest link 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 which mining pools would be the greatest, its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by the mining pool .

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