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Now that you have Bitcoin mining hardware, your next step is to join a Bitcoin mining pool. What's a Mining Pool Mining pools are all bands of cooperating miners who consent to share block benefits in proportion to their contributed mining hash power. While mining pools are desirable to the average miner since they smooth out benefits and make them more predictable, they unfortunately concentrate capability to the mining pools owner.

Pool Concentration in China Before we get into the very best mining pools to join, its important to note that most mining pools are in China. Many only have Chinese sites and support. Mining centralization in China is one of Bitcoins biggest problems at the moment. There are approximately 20 big mining pools.

This is based on info from Blockchains pool discuss chart: We strongly recommend new miners to join Slush Pool despite it not being one of the greatest pools. It was the 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 located in China and owned by BitMain. Antpool mines about 25 percent of all cubes. 3. ViaBTC ViaBTC is a new mining pool that has been around for approximately one year. Its targeted towards Chinese miners. Slush was the first 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 swimming pool and also Chinas third biggest Bitcoin exchange. Its mining pool currently mines about 7% of all blocks. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines about 2% of all 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 Republic2percent NoAntpoolChina1percent NoBWChina1percent No The comparison chart above is only a quick reference. The location of a pool does not matter that much. The majority of the pools have servers in every country so even when the mining pool is based in China, you could connect to a host in the united states, for example.

Mining Pools vs Cloud Mining Many men and women read about mining pools and think it's merely a group that pays out free bitcoins. This is not true! Mining pools are for men and women who have mining hardware to split 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 benefits.

 

 

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Buying bitcoins is the EASIEST and FASTEST way to buy bitcoins. Get $10 worth of free bitcoins when you buy $100 or more in Coinbase. Which Countries Mine the most 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 power.

China China mines the most bitcoins and therefore ends up exporting the many bitcoins. Electricity in Read Full Report China is very cheap and has enabled Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash power. Its rumored that some Chinese power companies point their surplus energy towards Bitcoin mining centers in order that no energy goes to waste.

Its estimated these mining pools own somewhere around 60% of Bitcoins hash power, meaning that they mine roughly 60 percent of all new bitcoins. Georgia Georgia is home to BitFury, one of the largest manufacturers of Bitcoin mining equipment and chips. BitFury currently mines about 15% 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 non powered bitcoin miners as part of their 21 Bitcoin computer. Most of the hash electricity in the 21 Bitcoin computers has been pointed towards 21s mining pool.

 

 

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Mines about 3% of all bitcoins. Other Countries The countries above mine about 80% of bitcoins. The rest of the hash power is spread across the rest of the world, often pointed at smaller mining pools such as Slush (Czech Republic) and Eligius (US). What is a Full Report mining poolGet that a Bitcoin Wallet and Mining SoftwareThe Biggest Mining PoolsBest you could try this out Bitcoin Mining Pool ComparisonMining Pools vs Cloud MiningWhich Countries Mine the most 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 are the largest, its important to understand that the hash electricity pointed towards a mining pool isnt necessarily owned by the mining pool .

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