When you are about to start mining cryptocurrency, the ETC mining pool will be the most demanded thing for you. The fact that this currency becomes more and more popular, people want to attend this niche and provide themselves with the most convenient ways of mining it.
However, many people still don’t know about the main criteria to choose the best ETC mining pool for them. More people don’t always seem that the service is fast and comfortable, but shows how reliable it is. But how to learn more about the mining process and crucial factors of mining?
In this article, we are going to explain what are the main factors to pay attention to choose the best Ethereum Classic pool for your needs.
Compare Pool Hashrate To Cryptocurrency Difficulty
Choosing the proper equipment for your mining is essential. That is all because you need to know that your hash rate would be certainly suitable for the difficulty of the cryptocurrency you want to mine. This is the main rule of choosing the ETC pool.
Comparison is always important. You have to make sure that the current rate of the ETC mining pool you are joining would proper for the current difficulty of the coin.
And don’t forget that the difficulty is always changing. It depends on the number of users in the current pool. For example, the more users are in the network, the harder the process of finding the reward, because of the difficulty raised to keep the coin stable. And you can face the opposite situation when the overall number of miners decreases, so the token becomes easier for mining.
Make sure, that the hash rate is suitable for the current token difficulty. It would give you enough information about how effective the pool is.
Check Ping
Ping is one of the most important parts when you are choosing your Ethereum classic mining pool. In fact, it depends on how fast the information is spread while mining. For example, one pool might take about 50 ms to share and receive the share in the pool, while the other server will have the procedure done in 150 ms. It might be crucial for the overall work of the mining pool ETC.
And when we are looking at such a complicated system as a mining pool, we have to make sure that all the data sent to the pool will be managed as fast as possible for getting the best result.
So, when you are looking for the best conditions for your needs, you have to look properly at the servers with stable and low ping. A low ping with issues is worse than a higher ping. So make sure to check the server network before connecting to the pool.
Ping will not be that bad for your needs, but it might make everything slower. Don’t forget that mining requires a lot of resources. Your equipment has its limits, and slower work will just give you less income.
Estimate The Minimum Payoff
Payoffs are really important. It is the final result of the overall work and time you paid for getting it. And you have to make sure that the payoff fulfills your demands.
For example, some platforms complete their payouts only after you have reached a certain amount of money. It might be 0.001 Bitcoin or 0.0005 Bitcoin. Some users might find it convenient, while others will look for other variations.
Some services are focused on giving you a reward after the block was mined. For this reason, you will get your share after the block is available. Everything here depends on how many shares you put in the mining process. This way, many people find it convenient.
However, one more method available for people is paying for hash. For example, for every hash digit you put into the mining process, you get an income. That would be the best option for the ones who want to get their money here and now. But don’t think that you will mine Ethereum Classic and get just nothing from it. Of course, your reward is always raising, and you just have to wait.
This method is great because you will get your reward even if the block will not be mined. You are getting paid by the owner of the mining ETC pool and that would make all your actions less risky. All the risks are on the manager. However, such a risk can be easily fixed with commissions or other taxes. Let’s talk more about them.
Does The Pool Pay All Mining Rewards?
When you are joining a pool, and paying money for the equipment you got, you have to make sure, that you will receive the money you want. And choosing the correct ETC mining pool is important because you have to make sure that the taxes are suitable for your needs.
And paying attention to it is important. For example, when we are talking about pools with fixed payoffs, we can see, that the operator will have to cover all the risks. This way, you might experience several issues:
- Reduction of a payment;
- The necessity to pay a lot in advance;
- Taking more money for mining a block.
But commissions are common for pools. For example, people who are in charge of the pool have to provide a stable connection for the users. For this reason, they can take a part of the overall income. And that is OK. Just make sure you manage your mining process properly, and that after taking all the cuts, you will get the amount of money you deserve for the resources you have used.
Why Is That Important To Find A Proper Pool?
Choosing the proper Ethereum classic mining pool is essential. Joining an ETC mining pool is an investment. You have to use all the resources you have to increase your income of them. And a wrong service can simply make your resources useless.
For this reason, choosing the best ETC mining pool for getting your income is essential. All the included factors can make the overall process really complicated. So pay more attention to them and choose only reliable services.
