One of the main features of Ethereum is that it can be mined not only with ASICs, but also using the power of video cards on regular PCs or with several video cards.
In this article, we will explain briefly what a mining pool is and give you an overview of the best mining pools for Ethereum!
How to Start Mining Ethereum (ETH)?
Any Ethereum mining pool is a server that distributes the task of mining among the participants. The contribution of each miner to the solution of the block is determined using a specific counting system, and then, in accordance with it, participants receive a reward.
What is needed to start mining? Here is a list to prepare for it!
A PC with a Windows operating system version no lower than 7th is required. It is better if the system is more recent – this will protect you from a possibility of requirements changing in the future, as there will be a need to transfer all the software to the new Windows.
For most efficient operation of the video card, you should use a video adapter with a memory capacity of at least 4 GB.
Install the latest version of the drivers – this will ensure maximum mining speed.
If the motherboard allows you to put several additional video cards, then this will greatly simplify your task and increase profits.
How to Choose an Ethereum Mining Pool?
There is no clear answer to the question of which ethereum mining pool is the best at the moment. There are many factors which everyone should consider themselves before choosing a pool. Let’s briefly talk about the main ones.
Firstly, there is a commission that is the same everywhere (from about 1 to 2%). In reality, the situation may differ from what is written on the site.
Secondly, there are convenient statistics, that is, a display of some interesting important data for analysis. By analyzing statistics, you can determine the power of the pool, popularity, limits, block sizes and much more. If data is scarce, then perhaps the pool admins are hiding some details. So you should be careful.
Thirdly, the frequency of pool’s payouts and the minimum payment threshold are important. Therefore, it is crucial to find a mining pool that suits you in this regard.
For example, if you bought some costly GPUs like 1080 Ti and want to cover your expenses, then your best option is to choose a pool with frequent payouts and a low payment threshold. This way you might be able to return your money in a reasonable time.
Also, your profit from mining is affected by the current mining difficulty, the price of electricity in your region and the current price of ETH. Use WhatToMine to calculate your current mining profitability.
In addition, the size of a minimum payment depends on the threshold of the crypto exchange that the wallet is from. For example, at the Poloniex.com exchange, the minimum entry fee is 1 ETH. This should also be considered when choosing and configuring a pool.
Payouts can be affected by the power of the pool. This factor should be taken into account, because the more miners work to decrypt one block, the faster it will be solved by joint efforts and you will receive money. Consequently, the frequency of payments increases.
Top 6 Best Ethereum Mining Pools
#1. Ethpool (Ethermine)
ETHpool.org is the first and official Ethereum mining pool. Some time ago the pool did not accept new users due to the high workload and only worked with old clients. Because of this, many new miners were forced to switch to solo mining, since there was no other alternative to this pool then.
In order to start mining on this pool, you must have installed the C++ ETH version of Ethereum.
Nanopool is new yet already one of the largest mining pools of Ethereum. The complexity of the share is static and equivalent to 5 billion. The recommended minimum hashrate for mining on this pool is only 5 Mhesh/s. The mining reward for the pool is calculated according to the PPLNS scheme, where N is all accepted shares in the last 10 minutes.
The pool has reliable servers around the world. The website has a convenient and intuitive interface. The pool has a high minimum payout threshold. It is advisable to connect from 3 farms so as not to wait for long payments.
One of the most popular pools in 2019 is F2Pool. F2pool has a network of servers located both in the home region (China and other Asian countries) and in the USA. F2pool.com remains in demand thanks to the three key qualities – openness, accessibility and ease of use. Before you start mining on F2pool, you need to complete the registration.
Ethereum mining will require a farm with video cards.
The most powerful Chinese pool in the ETH, GRIN, and BEAM ecosystems is the Sparkpool, a resource open to collaborating with miners around the globe.
To start mining, you need to configure the batch file of the mining program. Ethereum mining is more profitable for AMD GPUs. It is required to flash the modified BIOS and adjust the overclocking options in MSI Afterburner or AMD driver settings.
At DwarfPool, miners are credited with RBPPS or HBPPS. With RBPPS, you will be paid every accepted share. The accrual algorithm for HBPPS is time-based payment of shares. All promotions and all found blocks will be calculated every hour.
The multipool MiningPoolHub allows you to profit from mining and exchange digital coins of different payment systems at the proposed rate. The administration uses the PPLNS algorithm to determine user rewards. The commission for the withdrawal of funds is 0.9%.
The above TOP pools for Ethereum mining have been verified by many users. Each server has a high hashrate and pays out earnings to miners regularly and fairly. The most reliable way to evaluate a pool is to test it yourself. Checking the pool also allows you to understand how efficiently your mining equipment works.
To test the pool, connect the equipment to the service for 2-3 days and measure the results. This way, you will be able to understand which pool is really right for you
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