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If you’re serious about cryptocurrency mining, then before you begin mining right away, you should first look at the best mining pools of 2018 for cryptocurrency. This is because the most popular currencies such as Bitcoin and Litecoin can take centuries to generate a valid ‘block’ on your own and make money. With Mining pools, you can work with other miners and devices across the internet to pool your resources in performing complex calculations to generate blocks of data. The mining ‘reward’, as it’s known, is then split proportionally amongst each participant. This makes mining much faster, but don’t just join the first mining pool you see. This is because the method used to allocate rewards and the final amount you’ll receive will depend on the mining pool in question.
So, in this guide we’ve listed five of the best known pools online today, to help you decide which is right for you. If these pique your interest and you want more information, head over to the Bitcoin Wiki to see a detailed comparison of all the top pools. It’s the oldest currently active mining pool and has an excellent reputation for stability and accuracy. Currently Slush Pool is the fourth largest mining pool representing around 11.
The sign-up process is very simple and you can create a demo miner in order to familiarize yourself with the dashboard. The website itself offers both a simple and a more advanced interface for experienced miners. You can also set your minimum pay-out threshold to as little as 0. 001 BTC, but there are additional fees for any pay-outs under 0. Slush Pool is democratic in that you can register your preferences about the kind of mining you want your devices to perform, for instance: Bitcoin Core strict rules only. The website also has some very useful sections for those who are new to mining. This section on mining rewards is particularly helpful as it contains a detailed explanation of how pay-outs are measured by each user’s scoring hash rate.