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

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 biggest pools. It was the very 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 percent 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 initial mining pool and currently mines about 3% of blocks.

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DiscusFish, also known as F2Pool, is located in China. F2Pool has mined about 5-6% of blocks over the past six months. 6. BTC.top BTC.top is a private pool and cannot be joined. 7. Bitclub.Network Bitclub Network is a massive mining pool but appears 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 roughly 7% of all cubes. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines roughly 2% of blocks. BW, based in 2014, is another mining best site company based in China.

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0%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 all that much. Most of the pools have servers in each country so even if the mining pool is located in China, you could connect to a host in the united states, for example.

Mining Pools vs Cloud Mining Many men and women read about mining pools and think it is merely a group that pays out free bitcoins. This is not correct! Mining pools are for men and women 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 provider to miner for you and you get the rewards.

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Buying bitcoins is the EASIEST and FASTEST way to buy bitcoins. Get $10 worth of free bitcoins when you purchase $100 or more at Coinbase. That Countries Mine the most Bitcoins Bitcoin mining tends to gravitate towards countries with cheap electricity. Since Bitcoin mining is somewhat centralized, 10-15 mining companies have claimed the vast 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 an extremely large percentage of Bitcoins hash power. Its rumored that some Chinese power companies point their excess 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 all 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 massive amount of miners, but also sells low powered bitcoin miners as part of the 21 Bitcoin computer. The majority of the hash electricity 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 around 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 like Slush (Czech Republic) and Eligius (US). What is a mining poolGet that 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 view which 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 .

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