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Now that you have Bitcoin mining hardware, your next step is to join a Bitcoin mining pool. What's a Mining Pool Mining pools are all groups of cooperating miners who agree to discuss block rewards in proportion to their contributed mining hash power. While mining pools are desired to the average miner since they smooth out rewards and make them more predictable, they unfortunately concentrate power to the mining pools owner.

Pool Concentration in China Before we get into the very best mining pools to join, its important to note that many mining pools are in China. Many only have Chinese websites and support. Mining centralization in China is one of Bitcoins biggest problems at the moment. There are approximately 20 big mining pools.

This is based on info from Blockchains pool share graph: We strongly recommend new miners to join Slush Pool although it not being one of the greatest pools. It was the first Bitcoin mining pool and remains one of the most dependable and trusted pools, particularly for beginners. 1. BTC.com BTC.com is a public mining pool which can be joined.

2. Antpool Antpool is a mining pool based in China and owned by BitMain. Antpool mines about 25 percent of all blocks. 3. ViaBTC ViaBTC is a somewhat new mining pool which has been around for about one year. Its targeted towards Chinese miners. Slush was the initial mining pool and currently mines about 3% of blocks.

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DiscusFish, also known as F2Pool, is based in China. F2Pool has mined about 5-6% of all blocks over the previous six months. 6. BTC.top BTC.top is a private pool and cannot be joined. 7. Bitclub.Network Bitclub Network is a large mining pool but seems to be somewhat dishonest. We recommend staying away from this pool.

BTCC BTCC is a pool and Chinas third largest Bitcoin exchange. Its mining pool currently mines roughly 7% of all blocks. 9. Bitfury Bitfury is a private pool that cannot be joined. Bitfury currently mines about 2% of all blocks. BW, established in 2014, is another mining company based in China.

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0percent YesBTCCChina2-3percent NoSlush PoolCzech Republic2%NoAntpoolChina1percent NoBWChina1%No The comparison graph above is just a fast reference. The location of a pool does not matter that much. Most of the pools have servers in every country so even when the mining pool is based in China, you can connect to a server in the US, for example.

Mining Pools vs Cloud Mining Many men and women read about mining pools and think it's just a group that overlooks free bitcoins. This is not correct! Mining pools are for people who have mining equipment to split profits. Many men and women get mining pools confused with cloud mining. Cloud mining is where you pay a service supplier to miner for you and you get the rewards.

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Buying bitcoins is the EASIEST and FASTEST way to purchase bitcoins. Get $10 worth of free bitcoins when you buy $100 or more at Coinbase. Which Countries Mine the most Bitcoins Bitcoin mining tends to gravitate towards countries with cheap electricity. As Bitcoin mining is somewhat centralized, 10-15 mining companies have claimed the great majority of network hash electricity.

China China mines the very bitcoins and therefore ends up exporting the most bitcoins. Electricity in China is very cheap and has enabled Chinese Bitcoin miners to gain an extremely large percentage of Bitcoins hash electricity. Its supposed that some Chinese electricity companies point their surplus energy towards Bitcoin mining centers so that no energy goes to waste.

Its estimated that these mining pools own somewhere around 60% of Bitcoins hash electricity, meaning that they mine about 60 percent of new bitcoins. Georgia Georgia is home to BitFury, one of the biggest manufacturers of Bitcoin mining equipment and chips. BitFury currently mines about 15% of bitcoins. Sweden Sweden is home to KnCMiner, a Bitcoin mining company based in Stockholm.

US The US is home to 21 Inc., a Bitcoin mining company based in California. 21 runs a large amount of miners, but also sells non powered bitcoin miners as part of the 21 Bitcoin computer. Most of the hash electricity in the 21 Bitcoin computers is pointed towards 21s mining pool.

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Mines about 3% of bitcoins. Other Countries The countries above mine about 80 percent of all bitcoins. The remaining part of the hash power is spread throughout the rest of the planet, often pointed at smaller mining pools like Slush (Czech Republic) and Eligius (US). original site What is a mining poolGet that a Bitcoin Wallet and Mining SoftwareThe Largest Mining PoolsBest Bitcoin Mining Pool ComparisonMining Pools vs Cloud MiningWhich Countries Mine the most BitcoinsOther go to this web-site CountriesA Note on PoolsWhy are Miners ImportantAntpool ReviewBitfury InformationBTCC Mining Pool ReviewSlush Pool Review A Note on Pools While we can see that mining pools would be the greatest, its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by the mining pool itself.

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