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Rating of the best mining pools: F2Pool, BTC.com, Poolin
Cryptocurrency is not only an alternative to traditional money, but also a tool for making money. To process transactions in the coin network, computing power is needed. Its source can be computers, asics (ASIC) and other devices. With their help, transactions are collected into blocks that form the cryptocurrency blockchain.
For the use of computing power, users receive a reward in the form of coins issued with their help into circulation. A new batch of cryptocurrencies appears at the time of the formation (finding) of the block. This process is called mining, and its participants are called miners (cryptocurrency miners). You can learn more about work in this direction from our material.
In order to earn more on mining, users combine the computing power of their devices. The decision increases the chances of receiving a reward, which is subsequently distributed among all participants.
Sites for combining the computing power of miners are called pools. Unfortunately, not all platforms offer truly favorable working conditions. Some hide commissions, others prevent the withdrawal of earned funds.
What else you need to know about mining
Bitcoin hashrate – the total computing power of the cryptocurrency network – is formed from the indicators of the equipment of the miners. Since mining pools unite coin miners, it is they who occupy most of the statistics. As of June 16, 2020, the distribution of the latest bitcoin blocks mined over the past 24 hours is as follows:
At the same time, most of the miners are located in China. Over 65% of bitcoin computing power is concentrated in China. Russia, by the way, accounts for only 6.9%.
BTC hashrate distribution map by country. Data: Cambridge Center for Alternative Finance
Asics remain the main device for bitcoin mining due to the high level of complexity of cryptocurrency mining.
Recall that in May of this year, a halving took place in the BTC network – a halving of the block reward. As a result, the payout for finding a block in the Bitcoin network fell to 6.25 coins. On the chart you can see the decline in BTC mining profitability:
The next Bitcoin mining reward cut will take place on the cryptocurrency network in 2024. Within four years, miners can work without fear of global changes.
Where to store the cryptocurrency earned in mining pools
Many people prefer to store digital assets in wallets. Previously, our editors analyzed the top 5 most popular options in 2023. The alternative is to store cryptocurrencies on an exchange. This option is suitable for members of the crypto community who want to increase their earnings through trading with coins. An important criterion when choosing an exchange is the ability to remain anonymous.
Confidentiality when working with digital assets is especially relevant for members of the crypto community from Russia. Against the backdrop of attempts by local authorities to regulate the crypto space, open transactions with a new financial instrument may attract the attention of the tax and other departments.
Top 5 mining pools
For the review, we have selected 5 pools, which at the time of writing the review occupy the majority of the bitcoin network hashrate.
The Bitcoin mining pool F2Pool is in first place. Over the past 24 hours, its participants have mined 18.7% of the total number of mined BTC. The share of the F2Pool hashrate is 20.74 EH/s. The platform commission is set at 4.80% from each mined block.
Launched in 2011, the Chinese platform F2Pool has not been translated into Russian. Work in the project is available to users from more than 100 countries, including Russia. F2Pool miners have access to the production of more than 40 cryptocurrencies operating on the PoW algorithm. To connect to the pool, you must register.
The platform, with a share of blocks mined per day at the level of 14.7%, took the second place. The BTC.com hashrate has stalled at 16.30 EH/s. The commission for each block mined by the miners of the pool is set at 4.27%.
The launch of the Chinese platform BTC.com took place in 2013. The project is under the control of the largest mining equipment manufacturer Bitmain. The site is not translated into Russian.
In addition to Bitcoin, a number of other cryptocurrencies can be mined with BTC.com, including Bitcoin Cash and Litecoin. Representatives of the mining pool keep statistics on the income of their users. The maximum values, at the time of writing the review, are as follows:
BTC.com miner income
To work on BTC.com, you need to go through the registration process.
Bronze went to the pool for mining Poolin, whose users mined 13.3% of the total number of BTC mined in 24 hours. The platform hashrate was 14.82 EH/s. For each block mined with Poolin, miners are forced to pay a 5.01% commission.
The launch of the Chinese site took place in 2021. Poolin is partially translated into Russian. In some places, due to inaccuracies in the translation, it is difficult to understand what exactly the representatives of the project had in mind. For example, “hashrate”, according to the developers of Poolin, in Russian is “hasharat”.
In addition to BTC, eight other cryptocurrencies can also be mined in the mining pool. For example, Bitcoin SV and DASH. To get started, you need to register.
Fourth place, with a score of 10% of the total mined for 24 bitcoins, went to the AntPool mining pool. The hashrate of the platform was 11.11 EH/s, and the commission for the found block was 5.06%.
AntPool is a Chinese project launched in 2014. Just like BTC.com, the pool is controlled by Bitmain. In addition to BTC, 18 more cryptocurrencies can be mined on AntPool, including the anonymity-oriented coins Dash and Monero. Only the English-language interface is available for work.
The top five is closed by the Huobi.pool mining pool, whose users mined 8.7% of the total BTC mined over the past 24 hours. The platform hashrate stopped at 9.63 EH/s. For each block mined, Huobi.pool users pay a fee of 4.32%.
The Chinese mining pool Huobi.pool is owned by the popular digital asset exchange Huobi. The mining pool was launched in 2021. In addition to Chinese, the platform has also been translated into English. More than 40 coins are available on Huobi.pool.
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