How to choose the right mining pool?

How to choose the right mining pool?

There are tens of thousands of mining pools, so many miners will be more entangled in the choice, especially since new miners are more susceptible to interference from outsiders. As soon as they hear of which mining pool has higher returns, they will switch hash rates immediately. Then they were also worried that the mining pool would be unreliable.
This happens because many people still don't understand how to choose a mining pool, and they don't have the criteria for choosing a mining pool in their hearts, so they can only choose with others. So today, we will tell you how to choose the right mining pool!

With the popularity of mining, there is now a variety of mining rig on the market, and new mining equipment appears every day. However, existing mining pools may not be compatible with all equipment, so it is essential to check whether your mining equipment is compatible with the mining pool! Otherwise, you will waste time and electricity bills if you can't dig coins after connecting. Before mining, you can consult the customer service of the mining pool and ask if their mining pool can support your equipment. For example, some mining pools cannot support CPU or GPU mining, and some cannot support a particular miner due to software problems. These are all possible problems and require miners to do their homework in advance.
Many people think that the hash rate of a mining pool is not a significant indicator; from a long-term perspective, the revenue of a mining pool is directly proportional to the hash rate of the mining pool. Therefore, the income will not be too different.
But there is a situation where the hash rate of the mining pool will also affect the benefits. Let's take an example. For example, a large mining pool can steadily mine 10 blocks a day, while a small mining pool may produce 5 blocks a day or not produce blocks for a few days. When a new coin is first mined, the hash rate of the entire network is still low at this time, and the profit of mining this coin is relatively high, and a large amount of hash rate will flood into mining it. If you choose a large mining pool in the early days, you can get stable income as the hash rate of the whole network continues to rise. If you choose a small mining pool that is not lucky enough to produce blocks when the hash rate of the whole network is low, you will miss the low difficulty period of new coin mining.
Of course, this is only for new currencies. For currencies such as Bitcoin that are relatively mature and have slight fluctuation in their hash rate, there is no gap between large and small mining pools in this respect. And now many mining pools have a PPS profit model; miners can not bear the risk of luck in the mining pool; regardless of whether the mining pool bursts or not, the miners can obtain a stable income and transfer the time difference risk of the block explosion to the mining pool to bear.
The handling fee of the mining pool is one of the essential factors that affect the mining revenue. The revenue calculation methods of different mining pools are also very different. There are also different mining modes, such as PPS/PPS+/PPLNS, making the novice miners unclear. In general, Bitcoin and BCH revenue distribution is divided into block revenue distribution and transaction fee distribution. Miners should focus on the transaction fees of these two parts. The transaction fees of most other currencies are relatively small. Therefore, everyone can focus on the block revenue.
We can judge the income by checking the formula of the fee rate on the official website of each mining pool. For example, it is also in the PPS+ model. The fee rate of the A pool is 4%, and the fee rate of the B pool is 2%, which is obviously in the B mine. Therefore, the theoretical benefits of pool mining will be higher. Some mining pools will use hash rate for activities and conduct zero-rate marketing activities within a certain period to attract everyone's attention. You can also pay more attention to this aspect of activities.
In addition to the elements mentioned above, miners also need to pay attention to whether the payment experience of the mining pool is satisfactory, such as whether the mining pool can make coins on time, the minimum amount of coins, and so on. The hash rate curve of the mining pool and the presentation of the status of the miners are also an aspect that needs attention, which can facilitate the miners to check the operating status of miners at any time. Before joining a mining pool, another factor to be evaluated is the security and stability of the mining pool. It is necessary to consider whether the mining pool can withstand DDOS attacks and if the mining pool is attacked, is it capable of safeguarding miners' interests.
The above is the mining pool selection guide brought to you this time. According to this guide, I hope everyone can choose their ideal mining pool!