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Now that you have Bitcoin mining equipment, your next step is to join a Bitcoin mining pool. What's a Mining Pool Mining pools are groups of cooperating miners who agree to share block benefits 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 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 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.

This 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 biggest 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 cubes. 3. ViaBTC ViaBTC is a somewhat new mining pool which 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 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 large mining pool but seems to be somewhat shady. We recommend staying away from this pool.

BTCC BTCC is a pool and also Chinas third largest Bitcoin exchange. Its mining pool currently mines about 7% of all blocks. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines roughly 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%YesBTCCChina2-3percent NoSlush PoolCzech Republic2percent NoAntpoolChina1percent NoBWChina1%No The view it comparison graph above is just 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 US, for example.

Mining Pools vs Cloud Mining Many people read about mining pools and think it's merely a group that pays out free bitcoins. This is not correct! Mining pools are for people who have mining hardware 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 benefits.

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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 most Bitcoins Bitcoin mining tends to gravitate towards countries with cheap electricity. As Bitcoin mining is somewhat centralized, 10-15 mining companies have maintained the great majority of network hash electricity.

China China mines the most 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 supposed that some Chinese electricity companies point their excess energy towards Bitcoin mining centers in order that no energy goes to waste.

Its estimated these mining pools own somewhere around 60% of Bitcoins hash electricity, meaning they mine roughly 60 percent of all new bitcoins. Georgia Georgia is home to BitFury, one of the biggest manufacturers of Bitcoin mining equipment and processors. BitFury currently mines about 15 percent 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 non powered bitcoin miners Cloud Mining BTC as part of their 21 Bitcoin computer. The majority of the hash power in the 21 Bitcoin computers is pointed towards 21s mining pool.

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Mines about 3 percent of bitcoins. Other Countries The countries above mine about 80% of all bitcoins. The remaining part of the hash electricity is spread throughout More Info the rest of the world, 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 Biggest Mining PoolsBest Bitcoin Mining Pool ComparisonMining Pools vs Cloud MiningWhich Countries Mine the maximum 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 are the greatest, its important to understand that the hash electricity pointed towards a mining pool isnt necessarily owned by the mining pool itself.

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