If you are one of those who are interested in the cryptocurrencies, you have probably heard the term “cryptocurrency mining“. When it comes to mining, one of the best and most economical ways to earn coins is through joining a mining pool. A mining pool is in fact a place where miners join to share their hardware power with other miners to have a higher chance in mining various coins. There are various mining pools for different cryptocurrencies and Ethereum is among the ones which has many mining pools. Follow us through this article to find out more about the best Ethereum mining pools.
What is a mining pool?
A mining pool is a place where different miners agree to share their processing power with other miners. As you know, it takes a lot of equipment and cost to mine cryptocurrencies like Bitcoin and Ethereum, and it’s not that easy with ordinary and even professional computers.
The mining difficulty of such valuable digital currencies is often high, and ordinary computers do not have the chance to get the reward of the transactions and earn coins. For this reason, mining pools have been created where people can join and share their hardware capabilities. In this way, even those who do not have much hardware power can join a powerful team and increase their chances of being successful in mining that particular currency.
In mining pools, as the hardware power is shared, mining rewards are also shared and you will be granted depending on the mining power you have brought to the pool. Ethereum mining pools do the same and you will benefit from a larger share of mined Ethereum as much as you have shared your hardware in these pools and has collaborated in mining Ethereum.
Best Ethereum mining pools
Now that we know how mining pools work, it’s better to get acquainted with some of the best mining pools for Ethereum and introduce a number of them. Generally speaking, the more processing power a pool has, the higher the chance of being successful in mining and of course, joining a mining pool with more processing power is more likely to end up being profitable.
In addition, there is another you need to consider when joining Ethereum mining pools and it is pool membership fee. You must pay a fee to join pools and use their benefits. Of course, this fee will be deducted as a percentage of your profits, and usually there is no need to pay. As a result, the less the membership fee is, the better it is for you.
Here is a list of best Ethereum mining pools.
Ethpool/Ethermine mining pool
Ethpool and Ethermine, although they have two separate websites, are in fact a common Ethereum pool with a hash rate of about 49 terahash per second! This pool is in fact the largest mining pool in the Ethereum network which has many users.
In addition to the high power, membership fee in Ethermine or Ethpool will account for about 1% of your income, which will be among the lowest Ethereum mining pool fees. The high power and low fees have made this pool one of the best mining pools for Ethereum.
The Ethermine Pool allows you to set a threshold for your income. You can then set numbers for your receipts, for example, by reaching that amount, your Ethereum will be deposited into your Ethereum wallet.
F2pool mining pool
f2pool is another cryptocurrency mining pool platform that can mine currencies like Monero, Dash, Bitcoin Cash, Litecoin, and more. The pool also has a mobile app and is accessible everywhere. The pool’s hash rate is currently around 36 terahash per second, and after Ethermine, it is the most powerful pool among others.
The membership fee in this pool will be about 3% of your total income, and the lowest deposit is 0.1 ether. Although this Chinese pool has a higher fee than Ethermine, it has a lot of users and supports mining of many currencies.
Nanopool mining pool
Nanopool is another Ethereum mining pool, with a hash rate of 26 terahash per second and more than 46,000 users. In addition to Ethereum, the pool also has the ability to mine Etrèmium Classic, Electronium, Zcash, Monero, and Pascal, and has therefore become one of the most popular pools in the field of mining.
The membership fee for this pool is about 1%, which has led to its competition with Ethmine Pool. Working with Nanopool is very simple and if you are one of the people who have just entered the mining world, we recommend that you try it.
Miningpoolhub mining pool
The Poolhub pool mining pool is one of the other pools that can support several different currencies, including Ethereum, Monrero, Dash, Siacoin, Bitcoin Gold and other currencies. This is one of the best Ethereum mining pools and has a hash rate of around 14 terahash per second, with a large number of users from around the world.
The membership fee for this pool is about 0.9 percent, which makes it one of the least expensive mining pools. Another factor that makes users interested in joining this pool is the ability to simultaneously mine other coins that use the same hash algorithm. In this way, you can extract several different quins by sharing your hardware in an algorithm.