Still Do Not Know How to Join a Bitcoin Mining Pool? The Answer is Here
Bitcoin mining is still popular among folk who are interested in Bitcoin and want to earn at least a few Bitcoins. Today, the biggest part of the market has been taken by the big investors with data centers, latest equipment, and software. However, there are still a lot of Bitcoins for those who mine in pools. If you’re one of them, this is the article especially for you. Let us explain how to join a pool in the best possible way and how you can earn money.
Think Carefully when there is a Deal with Your Money
First, it is easier than it appears. There is a list available of the main mining pools on the Internet. You can find it yourself but we have already done this for you. Just clickand choose the pool that you like. You may be wondering which platform should you choose. You should aim to find a balance. That may be the most popular platform, with a high number of members and giving a high return. There is a danger though of a shutdown of the whole system if your pool exceeds 51% of the whole market. This is only in theory but we do not recommend you choose a mining pool, which is at the red line even if it offers you a better payment.
You should also consider what kind of return you could expect from your investment. Do you consider yourself an investor? Do you just want to mine for fun? Well, you can still invest anyway. You use your computer and probably a GPU or even an ASIC, which can be quite expensive. Your equipment consumes electricity and energy bills are obviously not cheap. At a minimum, you need to make a basic payment for these utilities. Consequently, you have expenses and therefore, a profit needs to be returned. That’s why you should choose a mining pool with a good return, which at least is able to cover your costs.
You have chosen the right pool and are ready for your first earned Bitcoins. Having chosen a reliable website for mining, you need to create an account on their website. You register there and create a ‘worker’. Now, the process can be started and you may begin your work. Here you should also keep in mind that usually pools take their fees or charges for your profit in a mining team. These fees are not very high but you should still consider them.
Look at the Pool and then Choose Your Best One
We have discussed the process. Now we are going to present a good Bitcoin mining pool option which you may possibly start with. We have already shown you a list of pools and you should get to know them to help you make a good decision. We have chosen the pool, which looks most attractive in our opinion. Try it or find a better one.
We are talking about.
It is a very interesting one for sure. First, this platform is quite popular but does not approach the 51% red line. They have no registration process; therefore, you can begin right away. Moreover, they have no charges or fees. They do not store your Bitcoins on their servers and the reward of a blockchain comes directly to members who have worked together. It is a more reliable and secure way to send Bitcoins right to the miners as the blockchain is solved and the reward is achieved.
However, it does have disadvantages. For example, they only accept an online wallet address of ‘version zero’ (these addresses start with “1”) therefore not every Bitcoin address is appropriate for Eligius.
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