Ethereum is not just a cryptocurrency anymore, it’s basically an open-source shared global computing platform that enables developers to build & deploy dApps. Over the time Ethereum has been giving tough competition to Bitcoin & has condignly taken second seat in the class of most dominant cryptocurrencies.
Seeing the price of Ethereum constantly rising, it has led people to consider this cryptocurrency and indulge into mining process in order to earn them & gain tremendous profits.
So, if you have made your mind to mine Ethereum? Let’s get a gist before we start into joining Ethereum Mining Pools.
What is an Ethereum Mining?
The only aim lurks behind cryptocurrency mining is to maximize profits. At the time of writing this blog, sources showed how Ethereum stood first to be the most profitable digital coin to mine.
Ethereum mining is more or less similar to Bitcoin Mining, as both uses (PoW) and miner has to repeatedly guess answers to complex calculations before the fellow miners wins. Once Miner finds a hash he has to add the blocks to the blockchain, only after other people on the same channel approves it. This whole process of owning cryptos from your computer is known as mining.
Now the question comes where to mine them? That’s where Mining Pools enter!
What is Mining Pool?
Mining Pools are simple platforms where bunch of miners meet & solve complex mathematical algorithms & calculations (blocks), once people crack them high rewards are generated. Being a miner, either you can join with other miners in a pool or you can do solo mining as well.
But it’s believed that Mining Pools have turned out as great & quick means to generate coins. Because mining basically means to earn coins.
Joining Mining Pools helps in getting frequent payouts rather than just only getting paid for what you solve & crack blocks.
There are plenty of reputable mining pools in the market which lets you mine eth as well as other cryptocurrencies. However, if you are just looking for pools that can mine Ethereum only, then the below mentioned should be your best choices.
Top 5 Best Ethereum Pools
Among the glut, these are probably the best Ethereum Miners which are reliable, profitable & has shown stable performance throughout the year.
Probably the most well-known name in mining pools, Ethermine has an efficient mining engine which charges 1% fee and have a global mining network with DDOS protected servers. At the time of writing it had 1,14,156 Miners and probably known as the most predictable solo mining pool.
The platform has (PPS) Pay Per Share payment method, shows detailed statistics for global & per worker figures & also supports third party apps.
The platform has simple & convenient interface & does not require any registration to use the pool. Though there comes a downside with all the features it provides, they charge an additional amount of 0.001 eth for every 1 eth or less withdrawal you make.
Came last year only and has already become one of the greatest & fastest mining pools. Similar to Ethpool, NanoPool fee is also one percent, and have been reported to generate 14% of Ethereum network hash rate which is quite high in comparison to others.
Apart from being intuitive and secure the minimum payout remains to 0.2 eth, and unlike other platforms it gives users amazing capabilities to alter the payment threshold in settings.
Hub of more than 60,000 miners, this Ethereum Mining pool is considered as the most preferred mining pool among others. When it comes to the UI, the platform features straightforward interface with Help Section to guide users with accurate directions like how to set up the miner, how to configure the pool & also gives links to mining clients.
Now that you have your own hardware & software, start mining by getting into DwarfPool- The best Ethereum miner pool. Though the platform has been around for a while & competing with top Ethereum mining pools, they have seen fall to only 2.4% of the Ethereum network hash rate right now. The platform charges the standard fees among other pools, 1%. Additionally, the platform allows you to withdraw once your balance reaches to 1.01 Ether.
DwarfPool has (RBPPS) Round-Based Pay Per Share payment method, also the platform has distributed infrastructure, therefore guarantees an uptime of 100% also.
And apart from mining Ethereum, you can also mine other cryptocurrencies as well including Dash & Monero.
Meet the newest entry in the market of Best Ethereum Pools, 2Miners. In case you are looking forward to becoming a pro Ethereum Miner, this might be a great place to start with. When it comes to the UI, it is not at all boring like other pools, the interface looks quite modern & unique, which easily connects the beginners.
Being the youngest, it has versatile users from all over the world. The platforms not only support eth but Equihash & Dagger Hashimoto coins as well.
This best eth miner pool comes with DDOS protection and offers two payout schemes: PPLNS (Pay Per Last N Shares) and SOLO methods. Also, this Ethereum mining pool comes with its own rig monitoring bot & you can also rectal hashpower at this pool.
Putting last on our list, but not least in our consideration What started as small pool run by bunch of Ethereum enthusiasts has now matured to become the second largest global Ethereum Mining Pool. Unlike most of the platforms, MiningPoolHub supports mining of more than 30 cryptocurrencies simultaneously.
The mining reward comes in four factors & they are distributed as block finding reward: 3eth, transaction fee, uncle rewards & other incentives. Best of all, the servers in each location are redundant therefore no need for backing up.
Sometimes the income may not reach to the maximum, but you can remain ensured about the security & repetitive operations it provides in a day.
All in all, the best Ethereum mining pool will be the one which compiles all your needs & requirements. We hope this list of Best Ethereum Pools helped you out to choose the ideal one for you.
Final Words: Best Eth Miners
If you are new to the cryptocurrency mining, choose the platform which ha lowest payment threshold, if you are pro you should go for the pool which has few participants with higher expertise.
Before you start with some serious Ethereum Mining, make sure you join a pool which charges low fees and results high profits. Another aspect to keep in mind is the factor that how close the mining pool servers are, more your mining rig (GPU setup) is closer, more the effective mining would be made.