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Higher hash rate means that the pool operates at a faster rate, thus increasing the chances of profit. Here is a list of the best five Bitcoin Cash mining pools in comparison, based on their hash rate distribution, where you can see their market shares, locations, reward systems, and fees:.
Another important factor to consider is the location of the pool server. If you want to learn more, you can check the guide on How to choose the right mining pool. I assume the reward systems column also got your attention. As you can see, they are different, and one pool can use several ones. The ones mentioned in the table are not all there are. Joining a Bitcoin Cash mining pool is quite easy — you just need to sign up and set up an account. For those of you who are worried about their privacy, there are also pools that do not require official webpage registration and are really easy to join.
Your next step must be connecting to it from a private and secure location — your PC. You basically connect it to the pool. For Bitcoin Cash, log into your miner from your private PC. The calculations made here are based on the current market price and the current difficulty.
To calculate your Bitcoin Cash mining pool profit, you need to enter the hash rate, power consumption, electricity cost, and the pool fee. You can also calculate your cloud mining profit by entering the hash rate and the pool fee. Bear in mind that the calculations depend highly on the ever-changing variables. The output will show you the daily, weekly, monthly or yearly profit you will make. Another thing you can see is the power cost and the coins you can mine for each time period.
Some people decide to set up their own pools as it can end up being very profitable — you earn rewards and also collect pool fees from the participating miners. This is also very beneficial, as it contributes to the decentralization of the mining power. However, keep in mind that it is not an easy task and it requires a lot of time and effort and some in-depth knowledge of the matter. I have even more good news for you, VPS can be rented.
However, even if you choose this option, there is still a software configuration that needs your attention. The number one location of Bitcoin Cash mining pool servers is China. This is perhaps due to cheap electricity costs, as mining activity can be costly and usually takes place near the pool. This can lead to the impression that the mining power is centralized, however, this is hardly the case.
Even though they hold a big percentage of the hash power, they are still comprised of many individual nodes. These nodes operate on their own and receive payments directed only to them. The case of operators gathering their power to overthrow the network is highly unlikely to happen, as it would take a great number of miners and could potentially compromise the income. Bitcoin Cash is essentially a Bitcoin spin-off. These nodes are precisely the miners who use the computing power of their equipment to solve mathematical equations on the blockchain.
When a node solves the math equation, it checks a transaction block and receives a reward for its work. As is the case with Bitcoin, Bitcoin Cash has a finite number of tokens amounting to At the time of writing this article, have been extracted and are in circulation 18,, BCH and its price is of In this way it is much more profitable even for those who do not have equipment dedicated to extraction, being able to earn BCH tokens easily.
Currently, the average commission for transaction is of approximately 6,5 BCH for block. Nowadays, it is becoming increasingly difficult to earn money from mining unless you have expensive equipment with great computing power, without calculating the high electricity costs that these entail. If you want to know the profitability of BCH mining, I suggest you consider some crucial factors such as hash rate , the energy consumption , thei hardware and software requirements , and the BCH token value.
You can then use a Bitcoin Cash mining calculator to calculate the profit and to evaluate the convenience of the activity of extraction of its tokens. Bitcoin Cash mining can prove to be profitable provided you have the right BCH mining rig ready and are willing to invest.
By mining BCH you can earn a good profit as this crypto has today a greater potential than bitcoin and is worth mining. If you have come this far, it means that you are really interested in undertaking the mining activity of Bitcoin Cash and now I will show you step by step how to start extracting this interesting cryptocurrency.
First you will need to choose the best hardware and software to mine Bitcoin Cash. However the difficulty of the network does not make them able to compete with powerful ASIC machines. Regarding the choice of the program software to use to extract BCH, I suggest you choose programs that are compatible with the hardware that you will use for mining or, if you chose to mine with a mining pool, you will probably have to use their software.
This is command-line software. However, if using software of this type is very complicated for you, you can use other alternatives such as EasyMiner. Cgminer is the most famous and most used among Bitcoin and BCH miners as it boasts features such as: overclocking, fan temperature monitoring and remote interface functionality. Among its most significant features are: automatic detection of new blocks with a mini-database, binary loading of kernels, multi-GPU support and support for CPU mining.
This software supports getwork mining protocol and stratum mining protocol. It can be used for both solo mining and mining pools. Its main functions include a log window for maximum transparency regarding the mining process, a powerful statistics bar, a market capitalization banner, a wallet, a chat window.. As previously mentioned, today mining BCH as a solo miner is quite difficult and not very convenient.
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