Mining of bitcoins came into widespread acceptance back in 2010. But by 2013 even mining servers featuring the most powerful specifications became inefficient if they relied on basic processors. Today, in a wave of Bitcoin craze lots of people are interesting whether highly popular digital currency is available only for owners of professional powerful hardware or do ordinary users also have an opportunity to join the mining?
At the dawn of Bitcoin several GPUs were capable of generating bitcoins. Today even using of dedicated mining computing hardware can’t be an absolute formula to success. Getting desirable blocks of data without the help of highly-powerful computing systems is next to impossible. You may join the pool but even this method won’t drive to success immediately. It is also possible to generate alternative coins and convert them to bitcoins but such way is controversial.
Somebody can talk about the possibility of using virtual servers. But the question is whether the profit will cover expenses taking into consideration that payments for using clouds depend on actual consumption.
One more issue new-entry miners can face is the high prices for GPUs due to the increase in demand for these units. The amount of cryptocurrency miners is growing faster than the number of generated alternative coins.
So before joining the community or miners it worth taking into consideration not only the cost of appropriate videocard, but also power consumption as well as the amount of time required to build the farm. So maybe it would be simpler to opt for a ready solution like mining station configurator.
There are several ways to put your hands in mining bitcoins. For starters we would recommend cloud way of mining where one has to pay for performed mining services. The idea is pretty plain: the company performs mining services for the costumer and he gets his rewards. Experienced miners can benefit from mining pool option. The main idea relies on the principles that profits are distributed among those who possess mining hardware systems. There exist pools on the private as well as open basis.
Let’s talk about the most interesting mining pools worth of your attention.
Slush was the first in the range of mining pools. Property rights belong to SatoshiLabs. Everybody can join the pool without any problems. All miners need is to create an account, link up their mining hardware and add the address of their Bitcoin wallet to get payouts. Fees charged by Slush Pool do not exceed 2%.
AntPool introduces the largest pooling service for mining on the planet. Joining Antpool doesn’t require fee, moreover, any fees are charged for transactions. To become the participant of the AntPool you are required to have Bitcoin mining system, download the appropriate mining software and then create an account. Depending on the pool mining computing system uses different types of Bitcoin protocols.
BTCC mining pool
BTC China mining pool is among the biggest bitcoin exchanging platforms in China. The service provides users with a large variety of opportunities, including wallets and physical Bitcoin printing. Due to the simple process of mining hardware connection you can easily join the pool. The platform’s fees charged for transactions do not exceed 3%. At the same time transaction fees are distributed among participants on the same lines as the distribution of rewards.