It’s almost common knowledge, at least for crypto enthusiasts, that Bitcoin mining is no longer profitable for a couple of years now. Fortunately, there are numerous other good alternatives, cryptocurrency project that relies on a Proof of Work algorithms, especially those that are ASIC-resistant.
A few words about Bitcoin Gold
One such project is Bitcoin Gold (BTG), a forked version of Bitcoin. The cryptocurrency was created with one very specific goal, that of decentralizing Bitcoin. To be more precise, Bitcoin Gold is all about decentralizing the mining process for Bitcoin.
A big part of the reason why Bitcoin is no longer viable for mining has to do with centralized mining operations led by enormous mining farms, all of which use expensive and resource consuming ASIC miners.
Since Bitcoin Gold uses a Proof-of-Work algorithm called Equihash and because it is ASIC-resistant, it means that anyone can mine Bitcoin Gold at home using his or her computer.
Why choose pool mining?
According to many experts, pool mining is a much more effective way of mining. Instead of just having the hash power coming from your mining rigs, pool mining combines your hash power with that of possibly thousands of other miners. This increases the chances of finding more blocks. It’s also true that it diminishes the rewards, which also have to be shared.
For solo mining to be profitable, it requires insane amounts of hash power. As mentioned before, if you opt for pool mining, your rewards will be potentially lower on a daily basis, but this is more efficient in the long run since it’s a more reliable method of mining.
Aspects to keep in mind when choosing a BTG mining pool
Choosing the best possible mining pool for Bitcoin Gold might seem simple, but the truth of the matter is that there are a lot of aspects that need to be taken into account. For starters, you should only choose a mining pool with a good reputation. The server location is another very important factor. You should look to choose a mining pool that has at least one server close to your location. Fees and payout schemes are also very important aspects, as they usually determine how big or small the rewards will be. On average, Bitcoin Gold-compliant mining pools charge a 1% fee.
Having said that, we put together a list with some of the best Bitcoin Gold mining pools you should consider in 2019:
Launched in 2014, MinerGate has become one of the most successful mining platforms to date. Nowadays, the service reportedly has somewhere around 800,000 users and a total uptime of beyond 99%.
The platform is renowned for supporting various cryptocurrencies such as Zcash, Ethereum, Ethereum Classic, Bitcoin, Litecoin, Bytecoin, and Monero. What more impressive is the fact that MinerGate’s GUI miner is a very accessible piece of software that allows anyone, from beginners to more advanced users, to make profits of their computing power. The client comes with handy features such as the ability to auto-mine and to quickly switch between currencies.
2Miners is not among the most popular mining pools in the cryptosphere, but the pool is slowly carving its way to the top of the charts. 2Miners prides itself with the high-quality service it provides.
It supports Bitcoin Gold and 18 other cryptocurrencies, including some of the most popular (like Bitcoin, Ethereum). The pool has servers all around the globe, making it very accessible and reducing the latency times to an absolute minimum. The fee is 1%, and the minimum payout is of 0,01 BTG (payment made every two hours).
– BTGPool Pro
BTGPool Pro is one of the smallest mining pools in our list. Nevertheless, it might prove to be a very good option for users who really want to ensure that Bitcoin Gold mining remains as decentralized as possible. Even though it’s on the small side of things, it has servers located globally. The started fee is 1%, and the minimum payout is of 0,01 BTG.
Last on our list is Suprnova, one of the most popular mining pools to date. The most impressive aspect of this particular mining pool is the support for a broad range of cryptocurrencies. It’s also one of the best go-to mining pools for Bitcoin Gold miners. Just like most other mining pools, it has servers located on multiple locations around the globe to keep the latency times at low levels. The minimum payout is similar to most other mining pools, 0,01 BTG, and the fee system as well, at 1%.
Founded by one of the founding members of Bitcoin Gold, Pool.gold is one of the most popular mining pools out there. The pool has a remarkable record of 100% uptime and, better yet, it has no fees. Couple this with the fact that it has one of the best support teams, international servers, and the minimum payout of 0,01 BTG, it’s no surprise why this pool is a favorite for all those passionate about Bitcoin Gold mining.
As you can see, there are numerous very good options out there when it comes to Bitcoin Gold mining pools. The 1% fee and 0,01 BTG seems to be the industry standard nowadays for this type of mining which means that making a profit is entirely possible. While it might be worth going for the most popular choices out there, if you’re really in tune with Bitcoin Gold’s quest and philosophy, you will most definitely want to choose a small-to-medium pool in order to keep the mining process as decentralized as possible.