Ethereum is getting stronger among the top 10 Cryptocurrencies. Thus we want to find more about the top 5 Ethereum mining pools. Have you started you Ethereum journey yet?
AtoZForex – Previously, we have discussed the Russian President meeting the Ethereum founder which shows that possibilities for the cryptocurrencies and the blockchain are endless. In this post, we will look into how to invest in Ethereum by joining one of the top 5 Ethereum mining pools.
What is Ethereum mining pool?
An Ethereum mining pool is a gathering of Ethereum miners that work together to mine Ethers. However, they are not limited to Ethereum only as miners also dig for other cryptocoins. In this way, Ethereum miners ensure that the volatility of their returns is reduced.
You can think of mining pool as of the diversification in portfolio investment. Just like the saying goes:
'Do not put all your eggs in the same basket'
Joining the Ethereum mining pool is the next step after you have obtained the proper Ethereum mining hardware. The adequate and reliable mining pool will aid you in getting more frequent payouts. This is in comparison to getting paid only when you solve an Ether block.
However, bear in mind that mining is a very time and power-consuming procedure. I've already started writing my next post on Ethereum mining guide. If you are not willing to dedicate time for Ethereum mining, you can just buy Ethereum.
Besides Ethereum mining pool and Ethereum mining hardware, you will need high-quality Ethereum mining software and a reliable Ethereum wallet. I will provide more information on these in my following posts.
What is the best Ethereum mining pool?
There is actually no best Ethereum pool existent. All of the reliable Ethereum mining pools serve a great way to get your Ethers or just to get paid. However, there is a difference between the fees that Ethereum pools charge. Moreover, you would want the Ethereum pool’s server to be near you for better connection and speed.
Top 5 Ethereum mining pools
We will go over the Top Ethereum mining pools, so you can consider joining any of them.
Even though Ethpool and Ethermine are two separate sites, they are part of the same Ethereum mining pool. At the moment, Ethpool and Ethermine sites are the largest Ethereum mining pools. Ethpool and Ethermine allow for 25% of the network hash power.
This pool features 0% fees. The payouts are done after 10 confirmations.
F2pool is the second largest Ethereum mining pool. It is also a Bitcoin mining pool. However, the Ether mining pool of this site is available only in Chinese. Considering the crazy Asian demand for cryptocurrency, there is no surprise why this pool is so big. This pool charges a 3% pay-per-share fee.
Dwarfpool Ethereum mining pool is the third biggest in the market. It accounts for about 13% of the network’s hash rate.
The DwarfPool will charge you 2% fees. The payouts are releasing 4-6 times a day for balances higher than 1 ETH.
EthereumPool.co Ethereum pool is stable and transparent. This Ethereum mining pool will charge you 1% fees. Here, miners can get their payouts 2 times a day for balances higher than 0.5 ETH.
Eth.suprnova.cc is an Ethereum mining pool that charges 1% fees. You can arrange the payouts on eth.suprnova.cc according to your preference. (Manual or Automatic from 0.01 ETH).
If you have any experience with any of these top 5 Ethereum mining pools please share your experience in the comments below.