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Now 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 consent to discuss block rewards in proportion to their contributed mining hash electricity. While mining pools are desirable to the ordinary miner as they smooth out benefits and also 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 most mining pools are in China. Many only have Chinese sites and support. Mining centralization in China is one of Bitcoins biggest issues at the moment. There are approximately 20 big mining pools.

That can be based on info from Blockchains pool share 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 community 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 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 blocks.

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DiscusFish, also known as F2Pool, is based in China. F2Pool has mined about 5-6percent of 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 shady. We recommend staying away from this pool.

BTCC BTCC is a swimming pool and Chinas third biggest Bitcoin exchange. Its mining pool currently mines about 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 PoolBitFuryGeorgia0%YesBTCCChina2-3%NoSlush PoolCzech Republic2percent NoAntpoolChina1percent NoBWChina1%No The comparison chart 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 located 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 is just a group that overlooks free bitcoins. This is not true! 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 in Coinbase. Which Countries Mine the many Bitcoins Bitcoin mining tends to gravitate towards countries with cheap electricity. Since Bitcoin mining is somewhat centralized, 10-15 mining companies have claimed the great majority of network hash power.

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

Its estimated that these mining pools own somewhere around 60 percent of Bitcoins hash power, meaning that they mine about 60% of new bitcoins. Georgia Georgia is home to BitFury, one of the largest manufacturers of Bitcoin mining hardware 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 large amount of miners, but also sells low powered bitcoin miners as part of the 21 Bitcoin computer. Most of the hash power from 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 bitcoins. The rest of the hash power is spread throughout the rest of the world, often pointed at smaller mining pools such as Slush (Czech Republic) and Eligius (US). What's a mining poolGet a Bitcoin Wallet and Mining SoftwareThe Biggest 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 see which mining pools are the greatest, its important to understand that the hash power pointed towards a mining pool isnt check it out necessarily owned by the mining pool .

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