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    Home » The Best Bitcoin Mining Pools (Updated 2018)
    News

    The Best Bitcoin Mining Pools (Updated 2018)

    adminBy adminNovember 10, 2018No Comments3 Mins Read
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    Table of Contents

      • How to join a Bitcoin mining pool
      • Mining pool rewards
      • Mining pool fees
      • Taxes on your Bitcoin
    • The Best Bitcoin Mining Pools

    How to join a Bitcoin mining pool

    Each mining pool will have their requirements for you to join. However, the vast majority will require you to do the following:

    1. Register an account with the mining pool
    2. Configure your mining software to connect with the mining pool
    3. Provide the mining pool with a Bitcoin address for your payouts

    Remember that not all Bitcoin mining pools are public, which means you can join them. Some pools, like BitFury, are private and cannot be joined with a mining setup at home.

    Mining pool rewards

    Each Bitcoin transaction block currently produces a reward of 12.5 BTC. These Bitcoins are shared among the miners contributing to the pool. There are also transaction fees to be earned in addition to the initial 12.5 BTC reward for processing the transaction block. The transaction fees can range from 1-2 BTC per block, depending on the current Bitcoin transaction fees. Some mining pools share these transaction fees with their miners, whereas others keep them to themselves.

    Mining pool fees

    Some mining pools require their miners to pay a percentage of their earnings for the privilege of using the pool. The costs can range from as little as 1% to as much as 10%. However, the pools that do charge their miners fees tend to stay below 3%. It’s always worth shopping around to find a mining pool that costs less — or nothing at all.

    Taxes on your Bitcoin

    Whether or not you have to pay taxes on your earnings depend on where you live. It’s probably safest to assume that your mining yields will be treated as a taxable income. Do some research or consult a professional accountant to make sure you’re playing it safe.

    mining pools

    The Best Bitcoin Mining Pools

    Although it’s getting increasingly more challenging to mine Bitcoin on your own, there are several Bitcoin mining pools you can join. The vast majority of Bitcoin mining pools are in China, but that is rarely an obstacle keeping others from participating. Here are the top 10 biggest Bitcoin mining pools:

    1. BTC.com

    Country: China

    Established: 2015

    Share: 17.93% of all blocks

    Can you join: 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

    Country: China

    Established: 2014

    Share: 9.24% of all blocks

    Can you join: Yes

    5. F2pool

    Country: China

    Established: 2013

    Share: 9.24% of all blocks

    Can you join: Yes

    6. ViaBTC

    Country: China

    Established: 2016

    Share: 8.97% of all blocks

    Can you join: Yes

    7. Poolin

    Country: 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

    8. BitClub

    Country: China

    Established: 2014

    Share: 2.72% of all blocks

    Can you join: Yes

    10. DPOOL

    Country: China

    Established: 2014

    Share: 2.45% of all blocks

    Can you join: Yes

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    Table of Contnets
      • How to join a Bitcoin mining pool
      • Mining pool rewards
      • Mining pool fees
      • Taxes on your Bitcoin
    • The Best Bitcoin Mining Pools
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