Is it profitable mine Dash? Cryptocurrency describes itself as digital cash and currently takes #21 in the coinmarketcap top list. In these terms, the answer to the question will be yes, it is profitable to mine Dash in 2020. A mining pool is a group of cryptocurrency miners who, by uniting their computational resources, tries to find a block for a particular blockchain. Today, we observe the top 5 Dash mining pools to provide you with details upon each of them.
Dash Cryptocurrency Explained
What is Dash? Dash cryptocurrency was launched in 2014 by Evan Duffield. The project was based on the Bitcoin core code yet it had (and still has) different to the BTC hashing algorithm.
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In the beginning, Dash was aimed to become a global method of payment that would enable fast and secure transactions all around the world. Today, Dash is valued for the speed of transactions along with a high level of security. Dash provides two types of processing transactions: InstantSend and PrivateSend. The former enables fast transactions within 2-3 seconds, the latter allows for highly secured transactions that cannot be tracked.
Dash Mining Explained
Dash is a minable cryptocurrency that requires certain mining equipment.
- Dash Mining hardware. Dash mining rig depends on the type of mining rig you choose: CPU/GPU/ASIC. It is highly recommended to use the latter because CPU and GPU mining rigs require too much electric power and are not as efficient as ASIC.
- Dash Mining software. Again, mining software depends on the type of mining rig you choose. The list of software available for CPU, GPU, ASIC Dash mining is provided by the Dash team here.
- Dash mining pools. The team behind Dash has also provided a list of current Dash Mining Pools. It is also stressed that you have to be careful and do your own research when joining a certain pool.
Some of Dash mining pools charge pool fees. Most of the time, they use the following payment schemes:
- PPS or Pay per Share – a miner gets a standard payout rate per completed share. This payment method eliminates the ‘luck’ factor.
- PROP or Proportional payment method – the reward per block is shared proportionally between miners according to the number of shares miners contribute.
- PPLNS or Pay per Last N Shares. This method is similar to the proportional payment scheme as payouts depend on the number of N shares miners contribute. However, there are some differences. N in PPLNS refers to the number of last completed shares. This payment mode also includes the ‘luck’ factor. Example: If the round was 5 hours and it took 1000 hashes. The PPLNS was set to 1 hour, and you were some pool hopper that mined for an hour in hour #2 with 900 hashes, you get nothing.
Top 5 Dash Mining Pools to Join in 2020
Before you join a certain mining pool, here are some useful bullet points that help you to choose the most suitable one. Remember, the higher the hash rate of a pool, the faster a block will be discovered. Consequently, you will get profit promptly when joining a mining pool with a higher hash rate.
AntPool is a mining pool for 10 cryptocurrencies including Dash designed and introduced by a Bitmain corporation (the one that also created a Dash Antiminer D3 and Antiminer D5). Antpool provides a PPS payment scheme with a 2% of miner fee. The blocks are discovered quite fast and it takes approximately 40 minutes to find a block. The UX and UI are pretty native, thus this Dash mining pool perfectly suits beginners. Today, AntPool stands among the best Dash mining pools in the industry.
Pool Hashrate: 1.67PH/s
#2. Dash Suprnova
The Suprnova mining pool provides poor UI yet a wide range of 20+ minable cryptocurrencies. The pool’s servers are located all around enabling high-level availability and mining opportunities. The best thing about mining Dash via Supernova mining pool is that Dash, GRS, and START miners are 100% free from fees, whereas other cryptocurrencies mining requires a 1% miner fee. The pool offers a Proportional (PROP) payment scheme.
Pool Hashrate: 2,202.738 GH/s
Launched in 2014, f2pool is considered to be one of the biggest mining pools in the industry. It allows mining of over 40 cryptocurrencies including Dash. If you are new to the mining, f2pool offers a comprehensive mining guide that helps you to get started alongside native UX and UI. f2pool provides a PPS payment mode with servers spread around the world. The mining pool fee is 2%.
Pool Hashrate: 348.59TH/s
ViaBTC is a multicurrency mining pool, that allows you to mine Dash without paying transaction fees. However, the mining pool offers two payment schemes – PPS and PPLNS that charges 4% and 2% of maintenance fees respectively. ViaBTC mining pool allows for Dash cloud mining and suits those who are not willing to buy Dash mining rigs. The pool is highly accessible as its servers are spread globally.
Pool Hashrate: 322.96 TH/s
Poolin is a Chinese mining pool for 10+ cryptocurrencies that can be joined to profitably mine Dash cryptocurrency. Along with native UX/UI comes a comprehensive tutorial that explains crypto basics on how to mine every supported asset. There is also a powerful mobile application for both iOS and Android devices that lets you mine Dash on the go.
Pool Hashrate: 339.112 TH/s
As of now, the price of Dash is $74.35, Dash market cap is $696,925,397. Dash mining might be costly in case you are a devotee of CPU and GPU mining. Therefore, there are a wide range of possibilities for obtaining Dash coin while saving considerable sums of money. Dash can be purchased on the crypto exchanges like Binance, HitBTC, OKex, Huobi, and so on. You can also buy Dash via Changelly instant exchange in a fast and convenient manner.