How to sign up with a Bitcoin mining pool
Each mining pool will have their requirements for you to join. The huge majority will require you to do the following:
- Register an account with the mining pool.
- Configure your mining software application to link with the mining pool.
- Offer the mining pool with a Bitcoin address for your payments.
- Keep in mind that not all Bitcoin mining pools are public, which suggests you can’t join them. Some pools, like BitFury, are private and can not be joined with a mining setup in the house.
Mining pool benefits
These Bitcoins are shared amongst the miners contributing to the pool. Some mining swimming pools share these transaction costs with their miners, whereas others keep them to themselves.
Mining pool charges
Some mining swimming pools need their miners to pay a portion of their earnings for the opportunity of utilizing the pool. It’s worth going shopping to find a mining pool that costs less, or nothing at all.
Taxes on your Bitcoin
Whether or not you need to pay taxes on your revenues depend on where you live. It’s probably best to assume that your mining yields will be dealt with as a gross income. Do some research or seek advice from an expert accounting professional to ensure you’re playing it safe.
The Most Popular Bitcoin Mining Pools
Although it’s getting significantly tougher to mine Bitcoin on your own, there are numerous Bitcoin mining pools you can join. The huge bulk of Bitcoin mining pools are in China, but that is seldom a barrier keeping others from getting involved. Here are the leading 10 most significant Bitcoin mining swimming pools:.
1. BTC.com
Country: China.
Established: 2015.
Share: 17.93% of all blocks.
Can you sign up with: Yes.
2. AntPool
Country: China.
Established: 2015.
Share: 14.40% of all blocks.
Can you join: Yes.
3. SlushPool
Country: Czech Republic.
Established: 2010.
Share: 11.96% of all blocks.
Can you join: Yes.
4. BTC.top
Nation: China.
Established: 2014.
Share: 9.24% of all blocks.
Can you sign up with: Yes.
5. F2pool
Country: China.
Established: 2013.
Share: 9.24% of all blocks.
Can you sign up with: Yes.
6. ViaBTC
Country: China.
Established: 2016.
Share: 8.97% of all blocks.
Can you join: Yes.
7. Poolin
Nation: China.
Established: 2014.
Share: 5.71% of all blocks.
Can you join: Yes.
8. BitFury
Country: Georgia.
Established: 2014.
Share: 3.53% of all blocks.
Can you join: Yes.
9. BitClub
Nation: China.
Established: 2014.
Share: 2.72% of all blocks.
Can you join: Yes.
10. DPOOL
Nation: China.
Established: 2014.
Share: 2.45% of all blocks.
Can you sign up with: Yes.
