What is F2pool mining pool A complete guide

What is F2pool mining pool? A complete guide

  • 10 July 2021
  • 1192 View

F2pool mining pool is a recognized worldwide mining platform that allows miners to gather their computing power, build a block, and get paid based on the number of blocks they find. F2pool pays each miner a 3% bonus for using the pool.  It is the flame of Bitcoin and ethereum mining pools and is widely compatible with cryptocurrencies such as Bitcoin, Litecoin, Monero MXR, and Ethereum.

This pool is located in China and is also known as Discusfish. Launched in Beijing in 2013, it established as the world’s leading mining group. This pool has continued to grow and has become one of the five largest mining pools in the world. The pool has more than two million users, most of whom are Chinese. Maybe because it is located in China and will soon spread to other continents.

How does the mining pool work?

A mining Pool like F2pool mining pool is a joint group of cryptocurrency miners who combine their computing resources through the network to enhance the probability of finding a block or successfully mining cryptocurrencies.

Separately, participants in the mining pool use their processing power to try to solve a block. If the pool is successful in these efforts, they will be rewarded, usually in the form of a related cryptocurrency. Rewards are usually divided among the miners who participated based on the ratio of processing power or work of each device to the whole group. In some cases, individual miners must provide proof of work to receive their reward.

Anyone who wants to make a profit by cryptocurrency mining has the option to either proceed individually with their own devices (Solo mining) or join a mining pool where several miners and their devices are combined to increase their hash output. For example, attaching six mining devices, each delivering 335 MHz (MH / s), can generate an accumulation of 2 GHz of mining power, resulting in faster processing of hash function.

How does the mining pool work

Mining pool

Benefits of mining Pool

While success in individual mining gains full ownership of the reward, the chances of success are very low due to the need for high power and resources. Cryptocurrency mining is often not profitable for individuals. Mining of many cryptocurrencies has become increasingly difficult in recent years as the popularity of these digital currencies has increased and the cost of expensive hardware required for a competitive miner as well as electricity is often a potential reward.

Mining pools require less of each participant in terms of hardware and electricity costs and increase the chance of profitability. While an individual miner may have little chance of successfully finding the block and receiving the mining reward, working with others will dramatically improve success.

Not all cryptocurrency mining pools work in the same way. However, there are several common protocols that govern many of the most popular mining pools. Proportional mining pools are among the most common pools. In this type of pool, miners who help the pool’s processing power receive shares until the pool manages to find a block. After that, the miners will receive rewards according to the number of their shares.

Pay-per-share pools work somewhat similar in that each miner receives shares for their contributions. However, these pools make immediate payments regardless of when the block is found. A miner who helps with this type of pool can exchange shares for a proportional payout at any time.

At the same time, peer-to-peer mining pools are intended to prevent the pool structure from being centralized. In this way, they integrate a separate pool-related Blockchain and are designed to prevent fraud by pool operators as well as the destruction of the pool itself due to a major issue.

F2pool fees and payment

  • F2pool works with the PPS reward system and costs four percent.
  • Payments are made daily by setting a withdrawal limit of 0.01 BTC.

What countries and cryptocurrencies are supporting by the F2pool mining pool?

F2pool mining pool is the second-largest cryptocurrency mining pool in the world after Antpool mining pool, offering mining services to more than 40 digital currencies including Bitcoin (BTC), Ether (ETH), Zcash (ZEC), Ethereum Classic (ETC), Litecoin (LTC), Siacoin (SC), Decred (DCR), Verge (XVG), Monero (MXR), Dash (DASH) and Zcoin (XZC).

F2pool has a new modern technology that gives its users confidence and security to mine their desired cryptocurrencies. With its user interface in Spanish, Russian, English, simplified, and traditional Chinese, it has gained more than 17% of bitcoin mining power, making it one of the most important and significant platforms on the market for more than 7 years, and becomes the second-largest Bitcoin mining pool in the market.

F2pool will not be very popular and established at all if it does not have good security. This platform has HTTPS protocol and this service has a wallet lock feature that protects your entire investment if your account is hacked. Just know that the email address you use to register on F2pool can never be deleted, which the company forbids to avoid identity rubbery on your operating system.

After all, F2pool is the only pool that works on peer-to-peer payments. Withdrawal costs do not excel from 4%, pool payouts are daily and are sent directly to from F2pool wallet.

What countries and cryptocurrencies are supporting by the F2pool mining pool

F2pool mining pool

How to register F2pool mining pool

To use the F2pool mining platform, you must first create an account, through the website https://www.f2pool.com/user/signups and enter the requested data. Then you are asked for the SMS code to confirm the phone number you entered. Upon completion, you will receive a confirmation email to activate your account, and then the registration process will be completed.

What are the pros and cons of the F2pool mining pool?

Now that you know about F2pool, here are some pros and cons.

F2pool pros
  • F2pool allows users to access the app through their website and download it via the mobile app.
  • This allows users to monetize income transparently.
  • All miners receive profit, even if it is a small profit, which provides a high demand for miners to stay with the pool.
  • This platform guides cryptocurrency users through simple steps to set up login and account creation very easily.
  • This interface is available in Spanish and English in a simple way for beginners.
  • The platform is equipped with an offline notification mode for all users.
  • Minimum withdrawal for various coins is small such as 0.005BTC, 0.02LTC, 0.1 ZEC or 0.1ETH.
  • Withdrawals are given through daily payments
  • Its services are available in different countries.
  • It can mine more than 50 cryptocurrencies assets including Bitcoin, Ethereum, Litecoin, Zcash, etc.
  • The platform offers a very reliable security system.
  • The registration process is simple, Also, the verification process is fast.
F2pool cons
  • mining cost is 4% which is expensive.
  • If your account is inactive for a long time, it will deactivate.
How to withdraw from the F2pool mining pool

These are the steps to withdraw coins in F2pool.

  • Log in to the F2pool website https: www.f2pool.com, then log in to your F2pool account.
  • Click the drop-down menu in the upper right corner of the screen and select “Account Settings”.
  • A window will appear, then click on “Payment Settings”.
  • From the “Payment Settings”, select the withdrawal option. Fill in the withdrawal information provided by your email account or URL. You can also fill in the SMS confirmation at the time of withdrawal. All withdrawal information will be sent to you via email or SMS.
  • After receiving the activation email, click on the activation link in the email to complete the steps, then you can trade.

Note: Fill in your wallet address information according to the instructions in the textbox.

How to register F2pool mining pool

pros and cons of F2pool mining pool
How to mine Bitcoin with an F2pool mining pool?

Since Bitcoin is the most popular coin for mining today, we decided to explain the steps of Bitcoin cloud mining with the help of the F2pool mining pool. The steps are as follows:

  1. Get the right hardware
  1. Sign up for an F2Pool account
  • Register and wait for the confirmation email.
  • Login to your account.

3.Configure your mining device

Your miner must connect to one of the F2Pool servers listed below, and you must use a mining account registered with F2Pool for your hash rate and revenue for recording and monitoring.

Please enter the following information in your mining machine:

* URL: floor + tcp: //btc-eu.f2pool.com: 3333

* Username: username.MinerName

* Password: Anything

Please note: MinerName is optional, however, for efficient monitoring we recommend connecting each mining machine with a separate miner name.

BTC Mining Pool Servers
  • EU – floor + tcp: //btc-eu.f2pool.com: 3333
  • RU – layer + tcp: //btc-mow.f2pool.com: 3333
  • NA – layer + tcp: //btc-us.f2pool.com: 3333
  • CN – Layer + tcp: //btc.f2pool.com: 1314
  • HK – layer + tcp: //btc-hk.f2pool.com: 3333
  • SG – layer + tcp: //btc-sg.f2pool.com: 3333

You can use ports 1314, 3333, and 25 as alternative ports for each server. For better connection and less delay, please use the nearest pool server to your mining operation.

  1. Add the payment address

A payment address requires earning mining income, and you can add or change your payment address from the payment settings. Daily mining revenue distributes among each user who reaches the payment threshold.  The payment threshold is 0.005 BTC.

If you do not have an address yet, you must first obtain a wallet. You can find an extensive list of wallet options for Bitcoin wallets, or choose an exchange wallet such as Binance, CoinEx, or Luno.

  1. Set up and receiving mining awards

While mining BTC, miners can also merge mining awards. 

Please note: Unlike BTC revenue, mining rewards will not credit to your account unless you have set up a payment address.

  1. Start mining!

Your devices are ready to start the best crypto mining. From the F2Pool dashboard, you can control your hash rate, revenue, and payments and manage your account settings. You can also view information through your F2Pool app.

How to mine Bitcoin with F2pool

mine Bitcoin with F2pool mining pool

In addition to all the benefits of f2pool, this mining pool has a very strong support team. Since the support team is one of the pillars of a project, because users’ doubts, questions, and problems must be resolved satisfactorily, otherwise users leave the operating system angry with the lack of help. They share their bad experience and the brand image falls sharply.

For this reason, user satisfaction with the support and other features of this mining pool has made progress in a short time and a good and bright future awaits it. F2Pool mining pool is a mining platform that is highly recommended for anyone who wants to enter the mining world due to its age, route, and user support.

2 responses to “What is F2pool mining pool? A complete guide”

  1. Herve Fodouop says:

    Good informations

  2. Yanga Jili says:

    Useful article and interesting too

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