Review on Nanopool by Adejoh Samuel
Mining Has Never Been Very Much Affordable
Talking about the fees charged by Nanopool, all coins are mined for a meagre 1% fee except for Pascal (PASC) which is mined for 2%. This fee happens to be competitive except for the fee it charges for Pascal. It doesn't charge any fee for coins like Ethereum, ZCash and Ethereum Classic until recently when it started charging for Ethereum due to the high transaction price of GAS. The remaining coins has a very little fee for withdrawal. The mining pool also utilizes the PPLNS (Pay Per Last N Shares) for distribution for rewards amongst their pool members, leaving them with no fear of loosing their pay or having it payed slowly.
The Ethereum mining pool doesn't contain any user data as it doesn't even make users go through a registration process. It only requires an Ethereum wallet address to set up an account and start mining. The summary of the steps required to follow in order to have an account is summarized below:
Step 1: One would have to got to their official website.
Step 2: Your choice of coin is then chosen so as to start mining.
Step 3: One would have to download one of the numerous software options the pool supports.
Step 4: Execution of the configuration is then taken which is also known as setting up the account.
Step 5: Finally, you can begin to mine.
It is worthy to be noted that if any of these steps are not easily understanded by an aspirant, their customer support is very much available to be contacted.
Pros
- If allows dual mining
- Executes payment or distribution of rewards via the Pay Per Last N Shares, PPLNS
- It's fee is very competitive in the industry
- It is the third largest of it's kind, easing aspirants of the fear of a scam
- Setting up an account is very easy and can be undertaken by even newbies
Cons
- I still don't like the fact that the mining pool doesn't support the most popular cryptocurrency, Bitcoin
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Comments (2)
December 18, 2020
Bitcoin mining pool happens to have surpassed all other types of cryptocurrencies, mainly because it is the most popular in the blockchain network. Their mining process also consumes resources and electricity. Nanopool thought it right to go for another crypto, Ethereum. They don't just mine Ethereum, they mine a couple of other cryptocurrencies at a cheap cost. Mining with them also consumes lesser energy that Bitcoin. It can be tagged an Ethereum mining pool.
December 12, 2020
Most mining pool today happens to focus at mining the most popular cryptocurrency, Bitcoin. This cryptocurrency is very expensive and would need much electricity. All thanks to Nanopool for standing out by mining Ethereum which is less cheaper and can be afforded by many traders today.
