AntPool mining pool is controlling by Bitmain Technology, a bitcoin miner manufacturer that also builds the Antminer hardware series like Antminer s9, Antminer t19, Antminer s17 pro, etc. If you are serious about mining cryptocurrency, then before setting fire to your rig, you should first look for the best mining pools in 2021 for cryptocurrency.
One disadvantage of mining cryptocurrency on your own, especially popular currencies such as Bitcoin and Litecoin, is that it is difficult for your system to independently generate a valid “block”, earn coins, and make money. Instead, with a mining pool, you work collaboratively with other miners and devices to pool over the Internet to perform complex calculations and generate large amounts of data. Then, the “mining reward” will share equally between each of the participants.
Although this will make the mining speed much faster, do not just join the first mining pool you see. This is because the method used to allocate the bonus is different, and then you will receive the final amount depending on the desired mining.
Mining pools allow miners to mine their mining resources with other miners to improve their mining chances. There are several pools to choose from that vary in size and payment method and one of them is the Antpool mining pool. Larger pools offer more frequent payouts, but smaller pools offer higher rewards (because this bonus is mined by fewer workers).
How do get rewards from mining pools?
If you decide to go for solo mining, you will have full ownership of the block reward. But, you need to be aware of electricity and other mining costs. Otherwise, in mining pools, you have a better chance of getting rewarded while keeping your costs down.
In a pay-per-share pool, each miner receives a payout according to their overall contribution in fining and verifying blocks of transactions. The advantage is that they reward each participant and it does not matter if the pool gets a block reward or not.
In proportional mining pools, you pay back your share based on the collective hash rate. If the pool earns a reward, you will receive more rewards based on the stock you own. We should note that in general, larger mining pools have a better chance of receiving block rewards due to the higher hash rate. In the end, you should do your research and choose a pool based on your total costs and financial goals.
What are Bitcoin Mining Pools?
Mining pools are basically groups of miners who pool their mining resources to gain more hash power (e.g. computing power). The more hash power you have, the more chances you have to add blocks and demand mining rewards. New bitcoins are circulating as a “reward” for miners who succeed in guessing the solution to a mathematical problem. The winning miner can add the last block to the Blockchain and update the ledger of Bitcoin transactions.
By design, the more miners there are, the more difficult the math problem becomes, and vice versa. This system’s name is the “mining difficulty” and is designed to regulate the flow of new bitcoins into the system (to prevent inflation). The growing popularity of bitcoin made it difficult to mine and made small mining operations very obsolete.
The more people jumped on the mining wagon, the mining difficulty made it less profitable for the house operations. Pay the initial and ongoing costs of mining from home (buying gears, electricity bills, etc.), and not only do you not make a profit but you actually lose.
With mining pools, miners are able to solve more problems than solo mining problems. Rewards are then distributed among the pool members, in proportion to the amount of hashing power their gears have contributed to the solution. The owner of the mining pool usually also pays for the operation of the pool. These pools differ in terms of payment method as well as fees received and other parameters.
How to choose a mining pool?
Here are some factors to consider when mining with a pool:
Pool size: Larger pools like Antpool mining pools offer more regular payments. However, the payment is lower because it is shared among more members. Smaller pools offer more frequent but more efficient payments. Whichever you choose, the return should be the same in the long term.
Costs: Some bitcoin mining pools charge a fee and some do not. Fees may range from 0% to up to 4% off the reward.
Reliability and Security: The important thing to consider is whether you can trust the pool to avoid scams, or to be hacked and lose your income. A good way to reduce such risks is to join an established pool. Be sure to read user reviews before joining, keep in mind that there will always be dissatisfied users, so don’t take anything at face value.
Payment Policy: Whether you want to have a regular daily payment or get paid when you solve the problem of a block in the pool, be careful and make sure to do your due diligence before registering in the pool.
What are Antpool mining pool’s reviews and features?
Antpool mining pool was founded in Beijing, China. AntPool mined its first block in March 2014. It controls a large portion of the bitcoin network and provides a quarter of the bitcoin mining system. The pool has been actively trying to progress towards one of the main bitcoin mining pools alongside F2pool.
AntPool is one of the best Bitcoin mining pools in the world to date and has expanded its network to mine cryptocurrencies including BTC, ETC, BTM, SC, ETH, DASH, XMC, LTC, ZEC, and BCH. Antpool has several servers around the world, including Europe and ASIC. The pool service is very serious, so it creates two-factor authentication, a wallet lock for security proportion, and email alerts for all logins. AntPool is very safe, secure, and safe for the best crypto mining.
This pool with its cryptocurrency mining pool has many options for a fee, these options include PPLNS with 0% block fee, PPS with 2.25% block fee, SOLO with 1% block fee, and peer-to-peer solo mining with 1% fee. Miner has the chance to choose between PPLNS, PPS, and SOLO. However, bitcoins are collected from each block, the pool pays for balances above 0.001BTC every 10 hours for 10 am UTC. The AntPool compensates for each Bitcoin block mined, for a total of 6.25 BTC, and each block transaction fee is retained by the pool.
Antpool mining pool
Antpool controls desktop mining equipment that monitors mining farms, and manages, updates, scans local area IP addresses. Also, it performs batch monitoring, restarts, and provides other system protocols. However, this mining pool also has an AP connection device that helps detect website insecurity and supports cloud miner center troubleshooting.
AntPool has an amazing mobile application that enables users to control their mining activities effortlessly and easily. The mobile app is available in the Google Play Store for Android devices and in the App Store for iOS devices
How to open an account with AntPool mining pool
- Visit the website first, then choose between logging in as a regular user or opening an account.
- Follow the registration steps according to the instructions carefully, from one step to the next.
- After that, an email will send to you to confirm your account with AntPool, then click on the link and confirm your account.
- Log in to your account, create your ID, password, deposit, and start mining by the pool.
This pool provides a convenient payment method for its users by paying daily from 08:00 to 16:00 UTC local time. Payments are very easy and users can organize their minimum BTC payments. To satisfy its users, AntPool multiplied the minimum BTC payout from 0.001BTC to 0.05BTC.
AntPool mining pool gained the trust and support of many miners worldwide due to its good performance, professional services, and efficient services and being one of the top five mining pools in the world.
AntPool mining pool pros
- Ant Pool has a user-friendly interface.
- Reliable and powerful security.
- Convenient mining services and multiple monetization links.
- Suitable for bitcoin mining (BTC).
- The pool has many customers.
- Their customer service is available 24/7 and solves user problems immediately.
- Provides services in English and another language.
- Low transaction fee
- AntPool is transparent, effortless, safe, and reliable.
- The number of hash miner controls.
AntPool mining pool cons
- Antpool does not display or disclose the fee of its transactions versus other pool minings.
- Users can only pay twice a day.
How is Antpool versus F2Pool?
The competition is heating up for F2Pool to sit out of its long-standing as the largest bitcoin mining pool. Bitmain’s AntPool aims to overtake F2Pool’s hashrate, and AntPool forehand in the number of blocks mined in each pool.
The percentage of blocks mined by AntPool has steadily increased from 13% to 22%. But the share of F2Pool blocks remained stable at more than 20%. AntPool has now mined almost 10% more blocks than F2Pool. The difference between the blocks mined by each pool has almost doubled almost twice as much as the Antpool blocks in November 2020 since F2Pool was mined in the last six months.
According to BTC.com data, over the past few weeks, both pools have been ranked in the first and second places several times. Some of this shuffling, of course, is due to the mechanics of estimating the hashrate. Typically, F2Pool and AntPool control about 33 pumps per second (EH / s) of hashing power.
Part of AntPool’s growth stems from the need for Bitmain subscribers to purchase the Antminer VIP app to use AntPool for their new machines and a great funnel for allocating more hashes. The cost of both pools is also quite competitive.
- AntPool 4 ٪ fees FPPS.
- F2Pool fees 2.5% PPS +.
Regardless of which one is in the top position, both pools still control a significant amount of hashrates. Both pools are also committed to supporting the growth and continuous improvement of the protocol after announcing support for Taproot, and Bitcoin privacy upgrades.
Are mining pools profitable?
Based on previous historical data, Bitcoin has maximized its value. The price of Bitcoin in the bull market stage in March 2021 has accumulated more than $ 60,000, while the market capitalization of Bitcoin has exceeded $ 1 trillion.
This new benchmark has not only attracted additional investment from institutional investors but has also increased the popularity of bitcoin mining and bitcoin cloud mining. But if you are new to bitcoin mining, you should know that it is not recommended to work as a solo miner and most miners work with other miners by mining and farming.
The mining pool like AntPool mining pool acts as a group of miners who pool their resources online to increase the likelihood of successfully achieving block rewards during mining. They distribute tasks and rewards among pool miners based on the structure and method of the mining pool.
Data collection algorithms determine whether tasks are evenly distributed among participants or whether workloads may be unevenly distributed. Another option is to assign tasks to more powerful miners and have more computational power than the others. Of course, there are differences in the needs of specific mining pools. Some of them may require a fee for their membership and others may require specialized mining equipment or maintain a certain level of internet speed.
As a result, by choosing the right mining pool and considering the costs versus the profits that are made, mining pools are generally profitable.