Skip to content Skip to sidebar Skip to footer

8 Mining Pool for Mining Bitcoin and Ethereum 2021

Bitcoin mining pool 2021
 

Where can you mine Bitcoin and Ether in 2021? The following is the answer.

Over the past few months, miners around the world have been very active, thanks to a spike in hash rates that coincides with a significant increase in the price of cryptocurrency. In early 2020, Ether (ETH) could be bought for $130, and now, ETH has reached $500. The king of cryptocurrency, Bitcoin (BTC), touched $18,000.

So, how can users engage with the industry? The trick is to buy directly on the exchange or to mining.

However, mining is clearly not solo mining, because the power and equipment required are very expensive. Therefore, for those of you who want to try mining, it's a good idea to consider mining pools. 

Things to Look For Before Joining a Bitcoin or Ethereum Mining Pool

  • The number of participants in the Bitcoin or ethereum mining pool will affect individual income. 
  • Ping time, or time delay. This is due to the need for the user's computer to transfer information to the pool. The ping time depends on the territorial distance the lower the ping, the lower the delay and the faster the data is transferred. Typically, a good ping is up to 10 milliseconds;
  • The minimum payment size for the pool should not be too large

  • The reputation of the mining pool


Below are some popular mining pools for mining the top two cryptocurrencies namely Bitcoin and Ethereum. As for Bitcoin, almost all major pools are based in China, as the country produces most of the Bitcoin mining hardware.

ethereum mining pool

Bitcoin and Ethereum Mining Pool Options 2021

F2Pool

Founded in 2013, F2Pool is one of the oldest mining pools in China. Pool accounts for nearly a fifth of the total amount of BTC mined. Pool uses Pay Per Share +, or PPS +, as a payout model in which miners receive a reward for every share received by the pool, regardless of the blocks found by the pool. 

The base determines the cost of each part independently, taking into account the complexity of the network, the rewards, blocking time and the strength of the pool itself.

Apart from Bitcoin, this pool mines more than 40 coins. The commission, depending on the coin, ranges from 1% to 5%. As for Bitcoin, F2Pool will take 2.5% of the prize as commission, and payments are made once a day. 

The user must withdraw the earned money within 90 days, otherwise the pool will save it for service development.

Poolin

Poolin is a pool owned by the parent company Blockin which was launched in 2017. The pool is popular with Bitcoin miners. Poolin offers several coins to choose from: Ether, Bitcoin Cash (BCH), Bitcoin SV (BSV), Litecoin (LTC), and so on. Variable commission fees; instead, they are set for each cryptocurrency separately, at a 2.5% fee for BTC.

The payment model depends on the coin selected: PPS or Full Pay Per Share, which is known as FPPS. The mining pool also distributes transaction fees among miners, which adds 10% to 20% to their revenue. This method is used to pay for Bitcoin mining.

An important feature is that Poolin provides mining on ASICs and GPUs from Nvidia and AMD. The development team regularly updates the software every few weeks to ensure service stability.

BTC.com

BTC.com is one of the largest international cryptocurrency mining pools. It is controlled by well-known mining equipment manufacturer Bitmain, which produces a line of ASIC miners under the Antminer brand. The China-based platform was launched in 2013.

The commission for each block mined by the pool is set at 4%. Apart from Bitcoin, a number of other cryptocurrencies can be mined via BTC.com, including Bitcoin Cash and Litecoin. Mining group representatives keep records of user revenues.

SparkPool

SparkPool is registered in China and launched in January 2018, and half a year later, the pool has entered the list of leaders in Ether mining. In addition, SparkPool allows mining of coins such as Nervos' Common Knowledge Base (CKB), Grin, and Beam.

Mining is carried out using the Ethash algorithm, and payments are made using the PPS + method. Payments are made daily, based on Singapore Standard Time, and the minimum payment amount is 0.1 ETH. On the 28th of every month, funds are withdrawn automatically if the balance is more than 0.0105 ETH, and the withdrawal fee is 1%. 

Registering with base is optional. Users can mine anonymously, but if so, not all pool functions will be available.

Ethermine

Ethermine is one of the most popular pools dedicated to Ether mining. This mining pool is the largest for Ethereum. The pool servers are located in Europe, Asia and the United States.

Pool uses the PPLNS payment model. The minimum payout amount is equivalent to 0.5 ETH, and the maximum amount is 10 ETH. There is no commission for withdrawing funds, and payments come immediately if the blockchain network is stable. This pool is meant only for mining cryptocurrency on GPU processors.

SpiderPool

SpiderPool is a five-year-old Chinese project that supports only four coins: ETH, BTC, BSV, and BCH. Nevertheless, the pool is quite popular among Ether miners.

Not much information is available for non-Chinese users, but the pool commission is 2%. The minimum payout amount depends on the coin, but once a week, users can submit an amount that is below the minimum threshold. Otherwise, payments are made automatically once a day.

Nanopool

Nanopool specializes in coins which are mostly mined using GPU cards. Currently, it supports Ether, Ethereum Classic (ETC), Zcash (ZEC), Monero, Ravencoin (RVN) and Pascal (PASC) mining. Pools allow users to mine not only one cryptocurrency but also two different cryptocurrencies simultaneously, with a proportional distribution of power between them. 

Like other mining pools, Nanopool has fees that are charged based on the income of its users. Pool uses the PPLNS payment method.

Withdrawing of Ether from the miner's account balance to their wallet is done in Nanopool automatically when the minimum payout is reached, which is 0.05 ETH. Nanopool doesn't have a clear payment schedule, but payments occur in stages throughout the day.

Considerations for Mining Bitcoin 2021

When choosing Bitcoin mining pool 2021, everyone should pay attention to the list of coins available to make sure the coin of their choice is on the list. 

“Bitcoin mining and other cryptocurrencies continue to grow, just like last year. Thanks to DeFi, there has been a period of high transaction fees on the ETH network in the last few months, which has led to a much higher than usual ETH mining revenue. BTC and other coin prices are rapidly increasing making mining more profitable, more people are willing to participate in mining now, "said Chun Wang, co-founder of F2Pool.

Also, consider the pay and commission model, as pools that offer the lowest commissions and payouts for transactions are preferred. Another issue is the proximity of the batch servers: the closer the servers are, the more stable the mining process is.

Yulina Firmansyah
Yulina Firmansyah Hi, I am a wife who really loves crypto and blockchain technology, I am a writer for this blog.

Post a Comment for "8 Mining Pool for Mining Bitcoin and Ethereum 2021"