How to choose the best Ethereum Mining Pool
When choosing the best mining pool there are some factors to consider which depend on your personal requirements and profit aim.
An important criterion for deciding what mining pool to choose would be the service’s fees. A lower fee means that you would have more of a profit. Another important factor is the minimum payout of the mining pool, which is the minimum threshold you must meet before you can withdraw your earnings.
You should also consider the location of the pool servers, the closer your rig is to the pool servers the faster and efficiently you will mine Ethereum.
Other subtle differences are software configurations and hashrate fluctuations, but here you would have to try it out for yourself to see what results you get.
You could look for user reviews, but each has their own experience and opinion even if it’s about the same service.
Below, we will list some of the best Ethereum mining pools to watch out for in 2019.
Ethpool is one of the most recommended and popular mining pools for Ethereum. By being a solo mining pool, the miner that has contributed the most to the block is able to receive the block reward. The pool’s hash rate is 866.1 GH/s.
The rest of the individual miners gain credits while mining the block. When the block is finished, the miner who has the most credits gets the entire reward while his/her credit counter goes back to 0.
On the other hand, the pool puts smaller mining rigs at a disadvantage. Ethpool charges a fee of 1%.
Ethermine is also a popular mining platform which has a 49.9 TH/s hash rate. Ethermine and Ethpool are different platforms but they also frequently pool together their hashing power. However, these Ethereum mining pools have different payment methods. Ethermine has a speed of 41.9Ghash per second and has stable servers in America, Europe, and Australia.
Its network has DDOS protection against online attacks. Ethermine employs a PPLNS payout scheme and real-time payments are made when the minimum payment threshold is met. The minimum payout is set at 0.05 ETH, making it ideal for those that have smaller mining rigs.
Ethermine charges a 1% fee, but all mining rewards are supported by them. It also allows users to mine anonymously as well as configure different mining software, including Ethminer, Claymore Miner and Phoenix Miner.
Nanopool is an Ethereum mining pool that has approximately 14.4% of the network hash rate and almost 44,000 people mining on it. The pool fee is set at 1%.
Nanopool has a minimum payout limit of 0.2 ETH, but you also have the option to set it lower or higher according to your preferences. The interface is user-friendly and can be used even by inexperienced users.
But some miners have reported that their hash rate is rather low compared to other mining pools and can go down with 10%. This fluctuation can be due to the number of submitted shares or to a corrupted DAG files on your miner.
Dwarfpool is a small but useful Ethereum mining pool, consisting almost 2.4% of the network hash rate. A flat fee of 1% fee is charged for mining, and the payout stands is set at 1.01 Ethereum but by submitting a form you can change that limit to 0.05 ETH. The hash rate of the network is of 8k GH per second.
The most advantageous thing about this platform is that it pays 6 times during a single day. The pool has servers spread across America, Europe, Asia, and Australia. Also, users can mine completely anonymous, as no account registration is required.
F2Pool was first designed to operate as Bitcoin mining pool, adding a pool for Ethereum mining later on. The platform was established back in 2013, and nowadays it has come to represent 25 percent of all hashrate.
The service charges a PPS fee of 4 percent on a daily basis, making it the most expensive mining pool. The platform has its servers located mostly in Asia.
Mining Pool Hub
The platform reportedly represents 7.6 percent of the hashrates in the Ethereum network. Mining Pool Hub was first established by a minor community of dedicated Ethereum miners.
The charges vary according to your rewards, such as the transaction fee, block finding fee, available bonuses, additional incentives. The platform charges a higher fee of 0.9%.
The pool also has reliable servers in Asia, Europe, and North America. Another big plus is that the servers in each location are redundant, which means that backups are not required.
Which is the best Ethereum mining pool?
There is no straight answer to this question, as Ethereum mining pools vary in terms of total hash rate, software configurations, payout structure, location and how they perform depending on the rig you use. Dwarfpool and Nanopool are ideal for smaller miners because of their payout mechanism while Ethpool and Ethermine bring greater profit to larger miners.
With this, we conclude our article about the best mining pools for Ethereum mining. Remember to thoroughly research the mining pool which you are interested in prior to use it.
Keep in mind to check all important factors such as the hash rate, accepted countries, payment fees, payout, and methods, and see which pool suits you best.