Verge is one of the top privacy coins in the crypto industry, having specific features that allow traders to perform anonymous transactions.
XVG makes use of a blockchain which runs on top of the Tor network and various other I2P services to make user that no one can track your IP addresses, geolocation, and other personal data. Below we have prepared a list for those interested in how to mine Verge using a mining pool.
What to Look for in a Verge Mining Pool?
When you are in the process of finding your best Verge mining pool, you should take into consideration the following criteria:
- Fees: the fees charged on average for mining pools are between 1% and 2%, but you can also find higher or lower fees compared to this range;
- Server location: it is recommended that you choose a pool which has its servers closer to your physical location, as you will have better hash power and, as a result, you will have more profits;
- Supported algorithms: Verge is a unique coin, as it has 5 algorithms through which it can be mined: Scrypt, X17, Myr-Groestl, Lyra2rev2, and Blake2s;
- Reputation: the most popular pools are generally considered trustworthy, but if you’re looking for a new pool, do some research to find out if it is properly crediting your account and paying its miners;
- Hash rate: the best Verge mining pool has a higher and more stable hash rate, which will enable you to mine faster and get more rewards;
- Pool Uptime: look for pools that maintain a 100% uptime most of the time;
- Minimum payout: lower payouts are more convenient, as you can cash out your profits faster;
- Pool Hash Power: if you are all for decentralization, you should opt for a pool that controls just 25% or less of the network hash power. By mining with smaller pools, you keep the network secure and decentralized.
Payout system: There are different ways in which a Verge mining pool pays out its miners. Here are some of the most known payment models:
- PPS – Pay Per Share. Each submitted share is worth a certain amount of XVG;
- SMPPS – Shared Maximum Pay Per Share. Similar to Pay Per Share, but never pays more than the pool earns;
- ESMPPS – Equalized Shared Maximum Pay Per Share. Similar to SMPPS, but it balances payments fairly between miners;
- CPPSRB – Capped Pay Per Share with Recent Backpay;
- Proportional – Miners receive the reward proportionally to how much shares each of them has found;
- PPLNS – Pay Per Last N Shares. Like proportional, but it is based on the last N shares, irrespective of round boundaries;
- Score – Score based system: a proportional reward, but evaluated by the time of submission. This means that later shares are worth much more than earlier shares.
Now that you know which features you have to look for to get the best Verge mining pool, let’s continue with our list and find out how to mine Verge:
Best Verge Mining Pools
AikaPool is a well-known mining pool that supports a variety of cryptos, including Verge. This small pool has around 50 and 100 active members.
The pool can be used to mine Verge and 14 other coins that are based on the Scrypt algorithm. AikaPool also offers 10 other algorithms that can be mined.
Signing up on AikaPool enables you to see all the Verge pool options. The miners receive their payouts based on a PROP system, which pays the miner only when a new block is discovered.
Multipool is another Verge mining pool that supports a multitude of algorithms, including Scrypt. You can also mine cryptos, such as Litecoin and Bitcoin, and you can opt to have your payout made in any of the supported coins.
The pool supports merged mining for Dogecoin and Litecoin. Multipool features a list comprising of 29 different cryptocurrencies, with coins based on the SHA-256 algorithm (Bitcoin, Digibyte, Bitcoin Cash, etc.), X11 algorithm (Dash), and Scrypt mining algorithm (Litecoin, Dogecoin, and Verge).
The miner doesn’t have any withdrawal fee to pay if he meets the minimum limit. The payout system used here is PPLNS.
Prohashing is one of the oldest multi-algorithm pools online. The following algorithms are supported by the pool: X11, equihash, Scrypt, and seven others. You can mine Verge using the Lyra2REv2 algorithm if you want. This pool also supports cashing out in a different crypto than the one you opt to mine.
The Prohashing mining pool charges a fee of 4.99%, with no minimum payout and no withdrawal fee. In our guide on how to mine Verge, we pointed out that the best Verge mining pool should have lower fees, but you are free to choose pools with higher fees, such as Prohashing.
Rewards are distributed on a Pay Per Share system, with the mining profits being distributed directly to your wallet or bank account if you should choose that option. The pool also adjusts hashing power automatically, so that only the most profitable coin is mined.
Mining-Dutch is a multi-coin and multi-algo mining pool which is based in the Netherlands. The pool applies a general fee of 2%, with some exceptions.
No fees are charged for altcoin transactions, as it is incorporated in the pool fee. For certain cryptos, there is a network fee that applies for withdrawal. The crypto you mined can be converted from within the pool account into other cryptocurrencies, but you will have to pay a fee of 3%.
The payment systems applied by the pool are PPS, merged, or solo. This is the best Verge mining pool, as it supports all five of the coin’s algorithms. The pool’s servers are based in the Netherlands, France, and other locations in Europe, as well as the US.
With this, we conclude our guide on how to mine Verge and XVG mining pools. We hope that the information provided will help you find the best Verge mining pool for your operations.
Featured image: nulltx.com
Note: This post was originally published on 28 December 2018 and has been totally updated for the completeness and veracity of the content on 28 December 2019.