What You Should Know about BTC Miner Pool

When you start seeing the details of cryptocurrency, you’ll definitely hear the term “BTC miner pool”. In this review, we’ll find out everything about BTC miner software and mining pools. We’ll try to find the answer to the question what for they are used and what value they generate.

BTC miner software and mining pools

You probably know that mining cryptocurrency is a time-sapping and expensive procedure. Miners unite in these pools with the aim to curb the expenditure. They share their resources with each other and as a result, they make this process faster and cheaper. Otherwise stated, they split hashing power and later, split the reward according to the amount of shares.

How to Choose the Best BTC Miner Pool?

Today, there is a wide array of these pools and if you can’t mine cryptocurrency on your own and you consider the mining services as Genesis of HashFlare to be too expensive, you can find an online BTC miner pool and mine cryptocurrency this way.

In some instances, you want to select the most popular BTC miner pool but it is not always profitable. Sometimes, they are a concentration of harmful hashing power. If you care about the health of your network, you should prefer smaller BTC miner pools.

Functionality also matters. For that reason, you should consider the following aspects:

  • Check out the existence of a pool fee.
  • Check out whether you are satisfied with the payment intervals.
  • Can this particular pool withstand hackers’ attacks?
  • Can you see the information regarding the amount of your immature tokens?
  • Do you see the information about your statistics?
  • Should you go through a registration procedure?
  • Are there any fees?

No one but you can make a final choice because too much depends on a final result you wish to get.

It seems like you won’t find free BTC miner pools because this procedure is not cheap.

There is one more factor you should pay attention to – trustworthiness of a pool. In this scenario, you can always read the testimonials of other users who have already gained a particular experience and can share it with you. Besides, they can tell you everything about a BTC miner calculator, mining procedure and an awful lot of other useful things every beginning miner should be aware of.

Trustworthiness of a pool

Besides, you should also be ready to the thing that there will always be users who aren’t satisfied with the functionality or the level of services, offered by a particular BTC miner pool. It doesn’t mean that this particular pool is bad. You should always pay attention to the total amount of all miners in the pool. If there are more than 200 or 300 users in one pool than there is a high probability that this particular option is legit.

Below, you can look through a list of the most reputable pools:

  • BTCC. It is situated in China. This pool is one of the biggest ones because it controls more than 15% of the network hash rate.
  • Eligius.
  • Kano CKPool.
  • Slush Pool.
  • F2Pool.

You can google the detailed information about each of them and finally make your decision. Generally, they offer similar terms and conditions but you’ll definitely notice differences when you’ll start choosing the most profitable option.