So, because of emerging crypto users here, crypto mining and miners become more important to run crypto transactions smoothly.
If you are one of those people who want to mine crypto or curious about crypto mining, then you are in the right place.
We will show you about crypto mining and some popular crypto mining pools in as much detail as possible. So keep scrolling and reading.
What is a crypto mining pool?
There is a higher chance you have heard about bitcoin mining, so crypto mining is a similar word to bitcoin mining and applies to all minable cryptocurrencies.
In a simple word, crypto mining is the process of creating new coins (only minable coins) by solving a hard computational and arithmetical problem.
On the other hand, Bitcoin mining is performed by high-powered computers that solve complex computational math problems; these problems are so complex that they cannot be solved by hand and are complicated enough to tax even incredibly powerful computers. Here, read more.
But we are looking at a crypto mining pool, so mining pools are groups of people or companies that want to share some block rewards with the person who has contributed to mining.
Crypto mining methods.
There are a few methods, or, you can say, crypto mining ways. But if you look for popular ways of crypto mining, then there are four ways.
Cloud mining is a process where you pay someone (most often a big corporation) a specific amount of money and “rent out” their mining machine.
This is the easiest way to start crypto mining, in which you don’t need any types of equipment but have to pay a large amount. This crypto-mining method is for a person who doesn’t know any technical work or about blockchain.
This method is the most popular because it doesn’t require any types of equipment, house space, electricity bills, or maintenance. Just buy a cloud mining contract and watch.
If you have a computer or laptop, then this is for you. Ooh! Wait, so you can earn money with your PC by crypto mining. The answer is hell no. Why? Because it is one of the slowest crypto mining methods, and also because your PC is not made for this.
You can start mining on your PC to earn a few dollars, but for a few dollars, you have to burn your PC. So we will suggest that you not do this.
This crypto-mining method is popular among users who want to manage mining with their own hands. In GPU rigs utilize graphic cards to mine cryptocurrency.
This method is costly, especially GPU rigs and other things such as electricity bill, warehouse bill, setup cost.
Means Application-Specific Integrated Circuits. It is an advanced method of GPU mining.
Binance crypto pool.
Yes, you heard right Binance also has a crypto mining pool service that enables the user to get a higher profit by auto-switching hash rates to mine different currencies with the same algorithm.
Binance Smart crypto mining Pool is supporting the SHA256 algorithm and the hash rate of users can be switched among BTC, BCH, BSV.
We don’t think so; we have to explain about Binance and how its crypto mining pool works because they already have a great tutorial for you.
They said we guarantee the final income of users generated from the crypto mining pool in BTC, BCH, BSV.
Binance recently launched ETH mining pool so you can also mine ETH coins that support ETHASH algorithm.
Read here about how to create a Binance mining account and its setup.
Bitcoin.com also offers cloud and hardware mining features. Currently, cloud mining is out of stock, while hardware mining is available, and you can start mining with your hardware by joining the crypto mining pool; they offer BTC and BCH for mining.
Bitcoin.com crypto mining pool does not support CPU or GPU mining, so you must have (any) bitcoin mining ASIC over 300 GH/s.
If you look for income, it offers BTC-98% and BCH-98% reward generated from the block, and also extra block rewards come from transaction fees. For example, if the block reward bonus is 105%, the 5% comes from transaction fees.
The best thing about this crypto mining pool, you can set your account hash rate to mine either Bitcoin Cash (BCH), Bitcoin (BTC), or both on the “Auto-profit” pool, but it’s only for paid users.
OKex crypto pool.
Do you think bitcoin is expensive for mining and not giving enough income for my work then try OKex one of the largest crypto exchange platforms?
On, OKex not just BTC, you can also mine 11 different coins by participating in the crypto mining pool. Like Binance they also offer guaranteed income on a daily basis.
To start with the OKex crypto mining pool, just create an account and connect your pieces of equipment. Below, you can see all minable coins listed in the OKex crypto mining pool.
Nicehash crypto mining pool.
Meet your all-in-one crypto mining pool platform. If you want to mine bitcoin but don’t have costly mining equipment, then try CPU or GPU crypto mining, and if you also don’t have a powerful CPU or GPU, then try contract mining, which means cloud mining.
It supports a wide range of algorithms for ASIC miners, and you can mine BTC, ETH, and LTC, while the payout rate is about 0.001 BTC, which is extremely low.
Like we said, it also has cloud mining, so if you don’t have any crypto mining equipment, you can buy it on a contract basis.
Some cloud mining contract prices are given below, but remember that they vary according to the bitcoin price.
You can see all the actual prices here for cloud mining.
If we have talked about Binance and OKex, then how can we forget HuobiPool? It has a total of six coins, such as BTC, ETH, BSV, ETC, LTC, and DCR, listed in a crypto mining pool.
HPT-HuobiPool Token is the global ecological certificate of HuobiPool. It has opened up a new mining experience based on the global eco-certification of HuobiPool.
Minergate crypto pool.
If you are interested in crypto mining but not in bitcoin mining, then try mining Grin, Zcash, Monero, Bitcoin Gold, LTC, ETH, and ETH Classic with the Minergate crypto pool.
Minergate is CPU and GPU friendly, so if you don’t have crypto mining equipment, then try your computer devices and give it a kick start.
How can you forget? SlushPool Mining is one of the oldest crypto mining pools and has mined over 1 million bitcoins since 2010.
On it, you can mine Bitcoin and Zcash with your ASIC machine. The payout amount is moderate, about 0.001 for both BTC and ZEC, while the pool fee is 2%.
SlushPool gives a demo account to its new users, so try it at least once (because it’s free) to see how a crypto mining pool dashboard works.
Come and try one of the oldest and highest networks sharing in a crypto mining pool. Founded in 2013, F2Pool is one of the earliest mining pools and has established itself as a global leader in the crypto mining industry.
It supports over 40+ coins for mining, and that makes it a platform that has listed the highest mining cryptos.
ViaBTC crypto pool.
We are pretty sure you have heard about this crypto mining pool platform. It is one of the most popular mining pools among users and was established in 2016.
ViaBTC has served users from 130+ countries and regions with secure and professional services for cryptocurrency mining, resulting in coins worth billions of dollars.
The function of ViaBTC is great and offers you to mine over 15+ coins, including BTC, ETH, and BCH, with your mining equipment.
Like others, ViaBTC also has cloud mining for you at the lowest price among other cloud mining pools. It also has a VIP application pool that gives high hash rate speed and increases crypto mining income.
Another less-known bitcoin mining pool is owned by Bitmain. Supports multi-currency mining, multiple sub-account management, and easy management of observer link sharing.
Real-time display of comprehensive currency data allows for a faster grasp of mining trends. New interactive interface for a smoother user experience.
Supporting coins: BTC, BCH, BSV, ETH, ETC, LTC, DCR, DASH, ZEC, and CKB.
FAQ about crypto mining.
➤Which method is best for crypto mining?
Of course, GPU mining may be costly but effective too. You can also go for cloud mining, but be careful when choosing crypto mining platforms because you have to spend thousands of dollars, and a mining platform will take a few minutes to disappear.
➤Is crypto mining profitable?
Yes, it is profitable if you choose the right crypto mining method and coin.
➤How do I choose a crypto mining pool?
There are lots of criteria to consider when choosing a crypto mining pool, such as pool fees, payouts, pool transparency, stability, and many more.
You can read a deep analysis of How to Choose a Cryptocurrency Mining Pool.
➤Is it worth mining bitcoin?
Yes, many people believe bitcoin mining is profitable, but it gets more complicated because the difficulty of bitcoin mining is increasing day by day. The all-time high mining difficulty of bitcoin was in March 2020.
Read here if it is worth mining bitcoin or not.
Stay away from platforms offering free crypto mining and 100 percent payment guarantees; those are totally scams. You can try cloud mining, which is cheaper than GPU and ASIC crypto mining.
So that’s all. Let us know if you have any questions about the crypto mining pool.