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

Pool Concentration in China Before we get into the best mining pools to join, its important to note that most 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 about 20 big mining pools.

That can be based on info from Blockchains pool discuss chart: We strongly recommend new miners to join Slush Pool although it not being one of the biggest pools. It was the first Bitcoin mining pool and remains one of the most dependable and trusted pools, especially for beginners. 1. BTC.com BTC.com is a public mining pool that can be joined.

2. Antpool Antpool is a mining pool located in China and owned by BitMain. Antpool mines about 25% of all cubes. 3. ViaBTC ViaBTC is a new mining pool that has been around for approximately one year. Its targeted towards Chinese miners. Slush was the first mining pool and currently mines about 3% of all blocks.

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DiscusFish, also known as F2Pool, is based in China. F2Pool has mined about 5-6percent 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 appears to be somewhat dishonest. We recommend staying away from this pool.

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

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0%YesBTCCChina2-3%NoSlush PoolCzech Republic2percent NoAntpoolChina1percent NoBWChina1%No The comparison chart above is only a quick reference. The location of a pool does not matter that much. Most of the pools have servers in each country so even when the mining pool is located in China, you can connect to a server in the united states, for example.

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

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Buying bitcoins is the EASIEST and FASTEST way to buy bitcoins. Get $10 worth of free bitcoins when you buy $100 or more in Coinbase. That Countries Mine the many Bitcoins find out this here Bitcoin mining tends to gravitate towards countries with cheap electricity. Since Bitcoin mining is somewhat centralized, 10-15 mining companies have maintained the great majority of network hash power.

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

Its estimated that these mining pools own somewhere around 60% of Bitcoins hash electricity, meaning they mine about 60% of new bitcoins. Georgia Georgia is home to BitFury, one of the largest manufacturers of Bitcoin mining equipment and processors. 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 massive amount of miners, but also sells low powered bitcoin miners as part of the 21 Bitcoin computer. Most of the hash power in the 21 Bitcoin computers is pointed towards 21s mining pool.

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

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