A cryptocurrency mining pool is a server that distributes the calculation task to all of its participants. As soon as one of them hits the target, a block is formed and the participants receive their reward.
The pool has a higher chance of finding a transaction block and getting a reward than a single miner. However, if you participate in the pool, you will have to share the profit with all the participants in the pool. For most, this is usually still the most profitable option. Let’s look at pools for mining BСH and find the best way to get Bitcoin Cash coins.
How to Mine Bitcoin Cash (BCH)
Bitcoin Cash runs on the SHA-256 algorithm while having network complexity at a very high level, almost like the original bitcoin. Mining bitcoin cash on a graphics card (GPU) or on a processor (CPU) is not as profitable as, for example, mining this coin on ASIC (application-specific integrated сircuit) miners, integrated circuits created specifically for mining by Bitmain. Current models for today are Antminer S7, Antminer D3, Antminer S9. Unlike video cards or computers, they do not solve any other tasks than the mining of cryptocurrency.
Top 5 Bitcoin Cash Mining Pools to Use in 2020
Depending on whether the mining will be performed – on the video card or on the ASIC, the Pool Bitcoin Cash is also selected, on which mining will be performed.
A pool is essentially a site that allows users to connect using special programs and provide their computing power for the joint search for data blocks.
The pool clearly defines the contribution of each participant to the common cause. This is calculated by the so-called share, and it is they who become candidates for the coveted signature block. As soon as the share hits the “target”, the pool distributes the reward among the miners. The next block is ready.
Now let’s review the best Bitcoin Cash (BCH) mining pools to use in 2020:
Bitman not only develops and sells ASIC miners, but it also owns the two largest pools in the Bitcoin network. One of them is called Antpool, and the second, and the most powerful BTC/BCH mining server is BTC.pool.
The Full Pay-per-Share FPPS calculation model created by the BTC.com team brings additional profit to miners in networks with a high transaction fee. The system will calculate the standard transaction fee for a certain period, and add it to the block reward, and then distribute the money to the miners in accordance with the PPS mode.
This method preserves the advantages of PPS and allows miners to pay a reward of 10% -20% than with the standard PPS mode, due to the distribution of transaction fees.
The pool calculation for the last day at UTC 00:00, and sends the payment within 2 hours. There is no fee for withdrawing money from the BTC pool, you only pay for the transfer within this blockchain network.
Types of Rewards: PPS
Server Localization: Asia, USA
Multi mining: Not Available
Not all mining pools accept miners without registration. Some require not only creating an account but also enable two-factor authentication. Strong security measures on the service that provides customers with deposit accounts for storing mine assets are really necessary. This is exactly how ViaBTC pool works. Here ASIC miners and owners of GPU rigs will find some work.
To create an account you must:
Indicate and verify the email address.
Create a username and a strong password.
ViaBTC pool gives each miner the opportunity to choose the system by which a reward will be awarded. There are three options:
By default, money is accrued for each share (PPS+). In order to change the payment method, go to the mining settings, click the PPS+ button and select from your preferred payment method. The commission fee at ViaBTC pool is 1% of the miner’s profit.
Types of Rewards: PPS+
Server Localization: USA
The modern world of cryptocurrencies has a large number of pools, but units are among the most common. Antpool originates in 2014, and since then has been inexorably gaining momentum. Antpool is the leader among pools, it occupies 20% of the market. The Chinese company BitMaintech helped to create the pool.
The project is a pioneer in terms of solo mining, which is usually carried out on a separate PC. When choosing this type of mining, the block goes to the farm, which managed to solve it. Due to a large number of customizable operating parameters, some miners find this site difficult to use, but the user is gradually getting used to it.
All payments are issued daily. To withdraw from Antpool to your wallet, you need to find a new block, and there must also be at least 3 confirmations. The service has low commissions, part of the payments goes without them at all.
Let’s list several types of payments:
PPLNS – when calculating the withdrawn funds, only a certain amount of the last sent share is taken into account, the commission is 0%
PPS – commission is 2.5%, the payment goes for each share sent. The price of one share is equal to the number of coins in the block divided by the difficulty of mining.
Solo – the reward is paid if the correct hash is found. If the block was closed by another participant, the miner will not receive anything. Commission – 1%.
Types of Rewards: PPS, SOLO, PPLNS
Server Localization: Asia
The distribution of income from the pool occurs using a server that issues tasks for the formation of a common block and determines the share of participation of each individual miner. One of the most popular pools in 2020 is f2pool.
Founded by Chinese developers in 2013 under the name Discus Fish, the platform is one of the oldest in the world. F2pool has a network of servers located both in the home region (China and other Asian countries) and in the USA. According to experts, in the near future, the service will continue to hold its place in the top five mining pools. The project remains attractive to miners and allows mining all the most profitable cryptocurrencies.
F2pool.com remains in demand due to three key qualities: openness, accessibility and ease of use.
F2pool commission is larger than most: it is 4%. The minimum payout is set at 0.001 BTC. At the same time, the developers of f2pool warn their users in advance that all funds not withdrawn from the wallets within 90 days from the moment of accrual will be redirected to the development of the server. This motivates users to quickly withdraw earned funds, increasing the total cryptocurrency turnover.
Types of Rewards: PPS
Server Localization: Asia, USA
NiceHash site differs from traditional cryptocurrency mining pools with a large selection of trading and intermediary services. On the platform, you can sell or buy a certain amount of computing power, with payment after the work is done. In fact, Nicehash is a large crypto-miners exchange.
Nicehash pool constantly monitors mining profitability fluctuations and automatically redirects workers to more profitable altcoins. The owner of the mining farm does not need to select a separate software for each algorithm.
Nicehash mining pool is ideal for those who want to engage in passive mining of bitcoins. The Nicehash pool pays a reward exclusively at BTC. Even the most inept user can run the Nicehash miner utility.
Types of Rewards: PPS
Server Localization: Europe, Asia, USA
We hope you find the Bitcoin Cash mining pool that is right for you. If you are interested in where and how to store cryptocurrency, read our article.