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Now you have Bitcoin mining equipment, your next step is to join a Bitcoin mining pool. What is a Mining Pool Mining pools are bands of cooperating miners who consent to share block benefits in proportion to their contributed mining hash power. While mining pools are desirable to the average miner as they smooth out rewards and also 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 many 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 about 20 major mining pools.

That is based on info from Blockchains pool share graph: We strongly recommend new miners to join Slush Pool despite it not being one of the greatest pools. It was the very first Bitcoin mining pool and remains one of the most reliable and reliable pools, especially 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% of all blocks. 3. ViaBTC ViaBTC is a new mining pool that has been around for approximately one year. Its targeted towards Chinese miners. Slush was the initial mining pool and currently mines about 3% of all blocks.

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DiscusFish, also known as F2Pool, is located 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 seems to be somewhat dishonest. We recommend staying away from this pool.

BTCC BTCC is a pool and Chinas third biggest Bitcoin exchange. Its mining pool currently mines about 7 percent of all blocks. 9. Bitfury Bitfury is a private pool that cannot be joined. Bitfury currently mines roughly 2% of 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 Republic2%NoAntpoolChina1%NoBWChina1percent No The comparison graph above is only a fast reference. The location of a pool does not matter that much. Most of the pools have servers in every country so even if the mining pool is based in China, you could connect to a server in the US, for instance.

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 correct! Mining pools are for people who have mining hardware to divide profits. Many men and women get mining pools confused with cloud mining. Cloud mining is where you pay a service provider to miner for you and you get the rewards.

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Buying bitcoins is the EASIEST and FASTEST the original source way to purchase bitcoins. Get $10 worth of free bitcoins when you buy $100 or more at Coinbase. That 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 power.

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

Its estimated these mining pools own somewhere around 60 percent of Bitcoins hash electricity, meaning they mine about 60 percent of all new bitcoins. Georgia Georgia is home to BitFury, one of the biggest manufacturers of Bitcoin mining hardware and processors. BitFury currently mines about 15 percent of all 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 non powered bitcoin miners as part of their 21 Bitcoin computer. Most of the hash electricity in the 21 Bitcoin computers has you could try here been pointed towards 21s mining pool.

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Mines about 3 percent of bitcoins. Other Countries The countries above mine about 80 percent of all bitcoins. The rest 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's 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 see 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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