Review on Nanopool by Eunice Olagbadun
The Nanopool, One Of The Biggest Ethereum Mining Pool
The crypto mining pool are established to serve one main purpose, source out income. Miners are the ones that execute this function and do this with the help of a PC. The mining pool industry looks like the toughest area in the blockchain network to me as I find it a bit tough to undertake. The Nanopool is a crypto mining pool and unlike many other mining pools that mine Bitcoins, this mining pool mines Ethereum and other cryptocurrencies like Ethereum Classic
The mining pool rules in the Ethereum industry as it presently controls more than 13% of the hashrate and tends to accrue many traders or miners (is presently the Ethereum mining pool with the highest number of miners). This has made it impossible to count the top three Ethereum mining pool in the world without mentioning the Nanopool. Starting your mining operation on the Nanopool doesn't require any registration, all you need to have is your PC which should have a GPU of 4Gb RAM minimum and an Ethereum wallet (which is compulsory) as this is where the coins that are mined are stored. After getting these, one would have to log in to their platform, choose a coin to mine, get a software option that is supported by the pool after which one can begin his mining adventure. Their mobile applications are available on Android and iPhone operating systems
For mining, the Nanopool charges a fee of 1 to 2% (this fee is dependent on the type of coin mined). They don't also charge any fee for withdrawals of some of the coins like Ethereum (although they're now charging for gas fee) and they also charge withdrawal fee for some coins which happens to be really low.
Pros
- The Mining pool charges really low fee for withdrawals and mining
- It is one of the biggest Ethereum mining pool in the industry
- Starting with the mining pool is simple and straightforward
Cons
- The mining pool doesn't support Bitcoins
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Comments (1)
January 23, 2021
I essentially love one thing about Nanopool. The fact that unlike many other mining pools, they mine Ethereum, Zcash and some other cryptocurrencies. This tends to be cheaper than mining Bitcoin. I guess I would have to start mining with them soon
