Bitcoin Trading Course – Top 6 Revealed

There is a lot of hype surrounding Bitcoin and other cryptocurrencies and if you are serious about trading, and making a profit, you may find it valuable to enroll on a bitcoin trading course that can help you increase your effectiveness.

Bitcoin Trading Course

There are a number of institutions that offer courses in Bitcoin Trading as well as altcoin trading. In this article, we are going to look at some of the courses available, the cost and the manner in which the material is presented.  This is by no means an exhaustive list of all the courses available, but a highlight of some of the more popular ones.

Bitcoin Trading Course – The Top 6

  • ICE3x, (https://ice3x.co.za/bitcoin-trading-school/), iceCUBED Bitcoin Trading Schoolis a Bitcoin Trading School that offers courses from Beginner to Advanced, each level building on the knowledge gained from the previous level. “Pre-school” covers the basics of what Bitcoin is, why to trade in Bitcoin and the mechanics of how to trade. “Kindergarten” covers charts, data and indicators and “Elementary School” covers more complex topics such as Japanese Candlesticks and Fibonacci Trading. The training is free of charge, online and each module is presented as an article with graphics.
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  • The Bitcoin-Blackbook, can be downloaded online for about $10 or purchased at stores such as Amazon in Kindle or Hardcopy format. The book is a step-by-step guide on everything Bitcoin, including how to buy and sell, how to mine, using wallets and how to trade. Click here for more info.
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  • The Bitcoin University, provides information, amongst others, on the history of Bitcoin, wallets and how to open and use them, depositing and withdrawing Bitcoins, Charts, Trading Rules, Money management and Trading examples in a video and pdf Format, for an admin fee of $47. Click here for more info.
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  • Crypto Blueprint, for $47 dollars offers a blueprint for Crypto-trading, a unique system to help you identify opportunities in the market and help you to be successful. The site also offers a 60-day money back guarantee. Click here for more info.
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  • The Crypto Training Academy (https://www.cryptotradeacademy.com/course/),Crypto Trade Academy
    is an extensive Video training course for trading in Bitcoins and Altcoins. Covering topics such as how cryptocurrencies work, how to store then, defining entry and stop-loss points, analysis of data and finding information and more. Students can choose between a beginner and advanced course (the one building on the other) and can learn at their own pace through 24 Modules. Enrolling for the course costs 99 Euro for the beginner course (10 modules) and 399 Euro for the advanced (24 Modules).
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  • Udemy, (https://www.udemy.com/cryptocurrencytrading/)
    Udemyoffers an online course for about $200 (although it is offered at a special discounted rate of $1.30 at the time of this article). This course focuses on short-term trading and making a profit. The course will cover topics such as the tools needed for trading, how to maximize your profit and minimize your losses and how to read charts and indicators and apply them to your trading for the best results. The Udemy course is presented as a 3.5-hour on-demand video and an article to read. On completion, you will receive a certificate. The course also offers lifetime access, so you can come back for a refresher at any time.

Bitcoin Trading Course: Final Thoughts

Investing and trading in Cryptocurrency can be complex and confusing, especially for the beginner. By increasing your knowledge and learning from the experience of others, you can increase your chances of success and profit substantially.

For further reading, check out our post on crypto currency trading courses.

Kraken vs Coinbase: All You Need to Know

Cryptocurrency is big news and trading in it is becoming highly popular and, more importantly, incredibly lucrative. Entering into not just a new currency, but a complete re-imagining of what currency is, however, is certainly a little intimidating. Thankfully, help is at hand through a number of cryptocurrency exchanges, the most popular of which are Kraken and Coinbase.

Kraken-vs-Coinbase

To help you understand each of these digital platforms a little more clearly, we’ve put together a list of the pros and cons of each. And, by the end of it, you should have a better idea of where you’re going to buy, sell and store your cryptocurrencies.

Kraken vs Coinbase

Kraken

Kraken

Founded in 2011 by Jesse Powell, Kraken is located in San Francisco and was one of the first Bitcoin exchanges to launch on the Bloomberg Terminal. Here are the pros and cons that you need to be aware of when using Kraken:

PROS

  • Wide range of currencies available: Kraken is able to boast 14 different currencies on their exchange and these include the three most popular in Bitcoin, Ethereum and Litecoin
  • Low fees: Trading fees on Kraken are some of the lowest you can find among crypto-exchanges
  • High limits: Kraken allows you to deposit and withdraw up to $25,000 per day
  • Simple verification: Users are able to start trading in both digital and fiat (issued by a government) currencies by providing just a few personal details

CONS

  • No credit/debit card facilities: The only method for withdrawing and selling on Kraken is through bank transfers and cryptocurrency
  • Not user friendly: The Kraken interface has been criticised for being unfriendly to users and causing beginners to make numerous errors

Coinbase

Coinbase

Coinbase was founded in San

Francisco by Brian Armstrong in 2012 and now has a user base of around 13.3 million users. If you’re interested in trading on Coinbase then these are the pros and cons of the platform:

PROS

  • User friendly: Simplicity is the name of the game with Coinbase and it ensures that beginners are able to get up and running with the minimum of fuss
  • Good buy/deposit methods: Coinbase allows its users to use either credit/debit card, bank transfers and cryptocurrency to facilitate withdrawals/deposits
  • Safe Limits: Rather than allow new users to lose huge amounts of money immediately, Coinbase sets purchase limits based on account age, buying history and verification status
  • Easy verification: Bank details can be linked to your account almost instantly to allow you to start trading

CONS

  • Limited cryptocurrencies: Coinbase only supports Bitcoin, Litecoin and Ethereum, so the choice of available cryptocurrencies is limited
  • Medium fees: Purchase fees on Coinbase are higher than their rivals with 1.49% and 3.99% fees for bank transfer and credit card transactions respectively

Final Thoughts: Kraken vs Coinbase

No matter what people tell you, the cryptocurrency bubble is not going to burst. And that’s why there’s no better time to get involved with cryptocurrency.

Kraken and Coinbase both represent fantastic options for getting to grips with the complexities of cryptocurrency, but with a significant difference in the services on offer. Kraken, of course, provides a wide range of different cryptocurrencies to work with, but offers limited options when it comes to withdrawing/depositing funds. Coinbase, meanwhile, may offer slightly higher transaction fees, but it’s a platform which is intuitive and offers superior buy/deposit methods.

Deciding on which platform is entirely down to your circumstances, but if you choose carefully then you stand to make the whole process easier and more financially rewarding.

Cryptocurrency Trading

The high gains experienced by cryptocurrencies such as bitcoin and ethereum over the past year have created much interest and hype in this space. Even major investment banks that previously spoke negatively of the crypto movement have opened trading desks to address demand from their clients.

Cryptocurrency Trading

This article will explore why cryptocurrency trading is so popular, the difficulties involved and how to get started.

The growth of crypto

Interest in cryptocurrencies is being driven by two main factors:

  • Long term growth – The value of crypto currencies has grown astronomically over the past 18 months, and this makes it very attractive to investors who speculate that it will continue to rise over the long term. People also hope to identify new coin offerings that will have the same explosive growth of bitcoin and ethereum.
  • Volatility – While the value of cryptocurrencies is increasing, it is by no means a sure thing, and prices are incredibly volatile. Traders hope to use this volatility to make money in the short term, buying and selling to take advantage of the peaks and troughs.

Many see the potential of bitcoin in particular as a store of value, in the same way that gold is used today.

Cryptocurrency trading challenges

Cryptocurrency trading challenges

There are several reasons why cryptocurrency trading is an uncertain and volatile business:

  • Complicated space – while it is not essential to have an understanding of blockchain and the specifics of how cryptocurrencies work in order to trade them, it is still beneficial to have a broad understanding of the concepts. Even at a high level, cryptocurrencies can be very complex, and the economics of how coins function differs from one coin to the next.
  • Signals are not the same as stocks and shares – many of the traditional measures that traders use to assess the value of stocks and shares don’t apply to cryptocurrencies. This means that people are having to invent new ways to determine whether a coin is a good investment.
  • Don’t have the historical data – Further to the fact that we don’t have good tools and measures, we also don’t have good historical data to tell us how cryptocurrencies react to different events. This makes it difficult to predict how their value fluctuates relative to geopolitical and economic inputs.
  • Regulatory landscape is immature – as much of the technology that underpins cryptocurrencies is new and relatively unproven, regulators are understandably nervous. In some jurisdictions they have sought to limit trading of crypto currencies by blocking exchanges and imposing new regulation. You wouldn’t want to be holding a large amount of cryptocurrency in a country where it suddenly became very difficult to sell.

Exchanges

In order to buy or sell crypto currencies you will first need to register with an exchange or cryptocurrency trading platform. The best cryptocurrency exchange for you will depend on what exactly you are looking to buy and how sophisticated you need it to be.

Coinbase is generally seen as a good entry point, but you can get more advanced trading features on other exchanges.

Cryptocurrency trading Courses

If you’re new to this space, there are a number of crypto currency trading courses available that will have you get up to speed quickly and save you lots of time researching the topic.

You should view purchasing an online course as an investment in helping you to make longer term trading decisions further down the line.

Cryptocurrency Trading: final thoughts

The future of currencies like bitcoin and ethereum is far from certain, and it is even less clear for the multitude of altcoins that are now available on the market.

That being said, the huge gains that these currencies have seen over the past year will no doubt continue to draw attention to the space.

If you’re serious about investing, make sure you take steps to educate yourself before you get started, and be wary of the the commentators who think that this could turn out to be a bubble waiting to burst.

Ethermine vs Nanopool (2018)

Mining pools are protocols where multiple miners combine their resources to maximise the number of blocks that can be solved and then split the earnings based on their contribution. The greatest advantage of mining via a pool rather than solo mining is that the combined power of multiple mining rigs increases the chances of finding blocks.

Mining pools also offer greater redundancy and up-time as the pools run on multiple servers, which are often located on different continents. There are many mining pools available for miners to join, some focusing on a specific currency and some allowing miners to mine for multiple currencies.

In this article we are going to look at two mining pools, Ethermine vs Nanopool, to understand their differences and the advantages and disadvantages of each.

Ethermine vs Nanopool

Ethermine vs Nanopool (2018)

Currencies

Nanopool is a multi-currency pool where miners can choose which currency they wish to mine, including Ethereum, Monero, Bitcoin and Z-Cash. Ethermine as the name suggests is a single currency pool focusing on the mining of Ether.  Both pools offer Ethereum and Ethereum Classic mining. To ensure we are comparing like with like, we will focus on only the Ethereum pool within Nanopool for the rest of this discussion.

Payment method

Both Ethermine and Nanopool pay miners based on the PPLNS reward system (Pay Per Last N Shares) which includes a luck factor in the calculations but on average pays out 5% more than rewards calculated on the PPS system. Ethermine pays out on all rewards, including uncles and payments are done instantly based on a minimum account balance. Nanopool pays out several times a day based on a minimum balance and also pays for uncles. Both Ethermine and Nanopool charge a fee of 1% for being a part of the pool.

Hashrate

Ethermine had a higher hashrate than Nanopool at 69.9 Th./s versus 41.8 Th./s.  The hashrate of the pool is the amount of power it is using to find blocks and solve them so the higher the hashrate of the pool, the more blocks it is finding to be solved, which is evident in the average number of blocks each pool solves per hour (Ethermine: 79 and Nanopool: 45). At the time of writing, the number of active miners in the Ethermine pool is 141,614 and eth.nanopool has 96,782.

Location

Ethermine has servers in East and West USA, France and Singapore ensuring 24-hour uptime and full backup and redundancy. Nanopool also offers full backup and uptime and has servers in Japan, Australia, Asia, East and West USA and in two locations in Europe.

The support offered by both these mining pools is good and available 24 hours a day, 365 days a year. Statistics on the network hashrate, blocks mined and number of miners as well as individual statistics per miner is available on both sites.

Ethermine vs. Nanopool: Final Thoughts

The most important criteria when deciding which mining pool to join is to identify what is important to you and what your expectations are. Do you want to mine only one currency, what payment method is best for you and how much are you prepared to pay in fees? It is beneficial to look at all the options before making an informed decision.

Monero vs. Bitcoin

This article, originally published on CoinCentral, explores the key differences between Monero vs. Bitcoin

Bitcoin gave the world digital cash. The ability to transact large sums of money across the globe, without needing to ask permission, and without the need to use middlemen is truly groundbreaking. But for all its advantages over national fiat currencies, Bitcoin now only seems to serve a limited set of use cases. It is not very private, transactions are generally slow and becoming costly. It’s becoming harder to upgrade and add new features to the protocol making it resistant to new innovations and technologies.

Then came Monero – private by default with untraceable transactions. It has an adaptive block size. It has its own codebase and is not simply another Bitcoin clone. Even its developers are mainly anonymous. Monero ticks most the permissionless digital cash boxes – is it all too good to be true?

In this Monero vs Bitcoin comparison, we’ll take a deeper look at Monero’s features that have helped it grow to a top 10 cryptocurrency.

Why Bitcoin lacks privacy and What Monero does about it

Bitcoin vs Monero

Bitcoin is pseudonymous, meaning that users can transact without providing their identities. Instead of using real world identities as banks do, Bitcoin uses addresses to make transactions possible between wallets.

The problem is that the addresses, along with the transaction information, all get stored on a public ledger. Although users can make transactions without attaching their personal identity, it is now widely known that the Bitcoin blockchain is being data mined by blockchain analysis companies. These companies are able to de-anonymize Bitcoin transactions with a high degree of accuracy.

Unlike Bitcoin, where you need to take extra steps to achieve anonymity, Monero has privacy turned on as a default setting. Untraceable transactions and anonymity are baked into the protocol.

As a side effect of anonymous and untraceable transactions, Monero is more fungible than Bitcoin. Fungible simply means that you can’t tell apart one coin from the next. Bitcoins are subject to being tainted. For instance, if a particular exchange has been hacked, or funds are stolen, the hacked or stolen Bitcoins can be tracked and subsequently blacklisted by exchanges or vendors. This can make a percentage of Bitcoins unspendable, which is not ideal for a digital representation of cash. Monero’s inherent untraceability makes this a non-issue.

How exactly does Monero achieve privacy?

Monero uses three different privacy innovations, namely, ring signatures, Ring Confidential transactions, and stealth addresses.

Ring signatures hide information about the sender, using a technique where a group of users sign the transaction. This obscures who the actual sender was.

Next, by using a technique known as RingCT, which stands for Ring Confidential Transactions, Alice can send Bob some Monero, and the only people that will ever know the amount sent will be Alice and Bob. Although the transaction is visible on the blockchain, there is no way to determine the amount transacted.

Lastly, Monero uses stealth addresses which adds privacy to the receiver of a transaction. Stealth addresses use ‘spend keys’ to obscure the receiver’s address. A sender is required to generate a spend key address for the receiver and send the Monero through this address. A ‘view key’ is then used by the receiver to display incoming transactions. This method means that while a transaction is recorded on the blockchain, only the sender and the receiver can determine where the payment was actually sent.

Monero vs Bitcoin: Other Key Differences

Monero-vs-Bitcoin

Released in early 2014, it is understandable that Monero still has some catching up to do compared to Bitcoin which has been around since 2009. This is reflected in the two coin’s market cap differences, with Monero sitting in 9th place at the time of writing.

Bitcoin had a lot more time to build out its network, and it won’t be giving up its first mover advantage that easily. With Monero, however, the market cap comparison does not reflect the fact that Monero has a different use case than Bitcoin, a use case built around its privacy. Monero is now establishing itself as the ‘coin of choice’ for people that want privacy in their transactions or that want to use Dark Markets. Bitcoin lost flavor with Dark Market users who quickly switched loyalty when they realized that Monero took privacy a few steps further than Bitcoin ever could.

Monero is not a one-trick-pony either. Privacy aside, the Monero developers have been addressing some key issues that Bitcoin has found challenging.

Hard forks have proved dangerous in Bitcoin as they show major rifts in consensus and make protocol upgrades contentious. When it comes to upgrading the protocol, Monero has a policy of hard forking every 6 months. All users are given fair warning and are expected to upgrade their software, making upgrading a breeze.

Monero has a dynamic block size which can adapt to the network’s requirements, unlike Bitcoin’s hard capped limited block size. With dynamic block sizes, you also get dynamic fees. It takes an average of 2-minutes for the average Monero block to be mined, and for transactions to be confirmed – a clear advantage for retail like scenarios.

Miner centralization, due to the use of ASIC chips, is a problem that Bitcoin has not been able to avoid. Short of a contentious fork to change the Proof of Work algorithm, it looks like mining centralization is here to stay in Bitcoin. Monero uses mining algorithms that are ASIC resistant, meaning it can be mined using standard CPUs and GPUs, which keeps the mining decentralized.

How has the Market received Monero?

Monero saw incredible growth in 2016, where it was the best performing crypto for the year. It has a growing legion of fans. Many were originally Bitcoiners that became frustrated with Bitcoin’s inability to achieve consensus to add improvements. As data analysis firms started de-anonymizing Bitcoin users, privacy oriented coins became all the more appealing.

Eager to grow their community and see their currency gain use, Monero fans have organized and have even set up their own LocalBitcoins style exchange for Monero called LocalMonero.co where buyers can find local sellers for one-on-one trades.

The bottom line

Since its inception, Monero has forged ahead and carved its own path in cryptocurrency privacy innovation. When compared to Bitcoin, and despite early setbacks and engineering challenges, it clearly leads the way in terms of anonymity and untraceability. But it is not alone in the privacy niche. Hot on its heels are other privacy focused coins, like Dash, Zcash, PIVX and Verge among others.

But competition is good in the cryptocurrency space because a coin can adopt new and innovative techniques that other developers have found to be successful. It is more about keeping the protocol agile so it can implement improvements and upgrades. Monero devs have shown that this is something they consider to be very important.

Bitcoin has gone through its own upgrade recently with the activation of SegWit, providing the oldest blockchain with some much needed new capabilities. SegWit allows for second layer innovations to be built on top of Bitcoin’s protocol layer. The SegWit upgrade was hotly contested for a couple of years. This had the effect of stalling innovations like the Lightning Network for fast transactions, and Confidential Transactions which offer enhancements in user privacy.

Other innovations are also in the pipeline, like MimbleWimbe and Atomic swaps, that can make cross-chain transactions possible, meaning you can send someone Monero, and they get the value in Bitcoin – or vice versa. Such developments can foster a sense of blockchains cooperating instead of directly competing to eat each other’s lunch. With that in mind, it is probably less about picking a winner between Monero and Bitcoin, and more about both coins growing independently and serving distinct use cases and markets.

Monero’s clear efforts in being distinctly different from Bitcoin are already paying off as it is clearly the leader in the privacy niche, and it is certainly here to stay.

This is  article was written by Theo Tsihitas and originally published on CoinCentral . Read the full article here.

Crypto Mining Mastermind

At the request of our readers we are looking at forming a small, virtual crypto mining group. 

This will most likely be by invitation only, with members being accepted based on their level of experience and specific areas of interest. It will also be limited to 8-12 members initially.

Crypto Mining Mastermind

This will ensure that the conversation is focused on things that people will get the most value from and that people’s voices will be heard.

We envisage that the group will include:

  • Fortnightly call to discuss all things crypto
    • Rough agenda agreed with participants beforehand
    • Occasional guest / expert speakers
    • Typed up minutes from the meetings shared afterwards
  • Access to closed Facebook group for ongoing conversations

We are still in the planning stages and would very much appreciate your input on what this group could look like.

If this sounds like it could be of interest to you and you’d like to be kept in the loop as the group evolves, please register your interest using the form on our contact page, with “Mastermind” as the subject.

 

Monero Exchange – Top 3 Places to Buy Monero (XMR)

Monero is a cryptocurrency launched in 2014 that has become extremely popular amongst users who wish to keep the details of their transaction private as well as with miners who do not want to compete with the ASIC miners of the likes of Bitcoin.

Monero mining (or XMR mining) is easy and affordable and can be done solo, with a monero mining pool or via a cloud mining provider.

Top 3 Places to Buy Monero (XMR)

This article is for investors who do not want to go through the hassle of mining but are interested in buying and trading in the currency on a Monero exchange.

How to buy Monero

Monero is being hailed by some as one as one of the cryptocurrency investments for 2018. The fast-rising popularity of this coin has see its value grow exponentially over the last four years, in particular in 2017 when it was listed on one of the major Korean exchanges.  Buying Monero is simple, you need to:

  1. Find an exchange that trades in Monero
  2. Get yourself verified
  3. Download a Monero wallet
  4. Buy your coins

Monero Exchange

The following exchanges are trading in Monero and are recommended on the official Monero site (http://monero.org/services/exchange/). Due to the anonymity of Monero, you will receive an id with which to trade.

  • Poloniex (https://poloniex.com/exchange#btc_xrp)

    Poloniex

    trades in almost all cryptocurrencies available, including XMR.  Fees are charged to Makers (those who have orders on the books before the trade) and Takers (those who place an order to match the Makers orders and effectively take it) depending on the size of the transactions. Fees are calculated on the average trading over the last 30 days.  Deposits are stored offline and the site is monitored and audited 24 hours a day for suspicious behaviour to keep hackers out. Poloniex claims to be the most active digital exchange in operation. They exchange however does not have a mobile app for trading.

  • Shapeshift (https://shapeshift.io/#/coins)

    Shapeshift 

    , allows you to buy currencies with your credit card as well as exchanging one cryptocurrency for another. Unlike other exchanges, you do not need to create an account to trade on Shapeshift and the funds are transferred directly into your wallet.  Shapeshift advertises that there are no fees for trading on their platform and the exchange rate you see is the rate you get, however they do deduct a “miner fee”. Shapeshift also offers exchanges on Monero, Bitcoin and other altcoins. Shapeshift offers a mobile App.

  • Bithumb (https://www.bithumb.com/)

    Bithumb

    is one of the largest exchanges based on trading volume. Based in Korea, Bithumb offers an extra service know as Bithumb Cash, which is a wallet that can be loaded on your mobile device and offers instant trading and makes trading faster and easier.

The above list is only a small percentage of the exchanges that can be used for buying and trading in XMR and are amongst the biggest and most popular. It is advisable to investigate the exchange before you start trading as the there have been reports of hacked exchanges and unverified transactions that can cause loss of your investment.  Happy trading!

Top Ethereum Mining Pools (2018)

Joining an Ethereum mining pool and combining your resources with other miners will help you see results faster and realize a quicker return on your investment.

This post will take a look at some of the top Ethereum Mining pools in 2018.

With so many mining pools at play in the market, solo miners are finding it more difficult to get blocks to process and the Ethereum mining rig that a solo-miner uses, needs to have massive processing power to be able to compete with the pools, which can be very expensive.

INTERESTED IN JOINING A CRYPTO MINING MASTERMIND? REGISTER YOUR INTEREST HERE

If you decide to join a pool, then choosing the right pool that meets your mining expectations is important, as well as understanding the different pay-out methods and how they will impact your earnings.

The larger pools, that have been mining for longer, are more reliable and you can be more certain of receiving your profits.

To calculate your expected earnings and see the best path to choose, you can use the calculator at this link.

Check out our other post on Ethereum mining calculators

If you’re interested in learning about how you can profit from trading crypto currencies, you might want to consider enrolling in a crypto currency trading course

The Best Ethereum Mining Pools for 2018

The top two Ethereum mining pools are Ethpool (http://ethpool.org) and Ethermine (https://ethermine.org). Together they have more than 27% of the network hashrate.

The two share an underlying pool, but have different payment methods. Ethermine uses the PPLNS payment method, (Pay Per Last “N” Shares) which involves some luck in the payment but on average pays 5% more. Ethpool is a predicable solo mining pool and pays on the PPS method, a standard pay per share model. Ethermine has more than 200 000 active workers and processes about 32 blocks an hour, while Ethpool has about 12500 active workers and processes about 5 blocks an hour.

See our full post on Ethpool vs Ethermine and the ethpool payout scheme

Other top pools include:

  • F2pool – Also known as Discus Fish (https://www.f2pool.com/).  F2pool has been operational since 2013 and contribute about 24% of the network hashrate.  Payments are also made via the PPS method and on a daily basis. The site is predominantly Chinese but has an English interface and has servers across Asia to ensure security and redundancy. F2pool can also be used as a litecoin mining pool.
  • Nanopool – Next on our list is Nanopool (https://nanopool.org). Nanopool currently has 40 000 Ethereum miners and accounts for 15% of the hashrate. Nanopool uses the PPLNS method to calculate payments the same as Ethermine. Payments are made several times during the day and Nanopool has servers in Asia, Europe and America. Nanopool also offers miners the option to mine in Ethereum Classic which is a split from the traditional Ethereum currency. Also see our article on Nanopool vs Ethpool.
  • MiningpoolhubMiningpoolhub (https://miningpoolhub.com) currently generates about 7.6% of the hashrate activity on the network. The reward calculation is based on a transaction fee, a block finding fee and uncle rewards and incentives. Miningpoolhub also has servers across more than one continent (US, Europe and Asia) ensuring a redundant environment.
  • Dwarfpool – The last of our top performing Ethereum pools is Dwarfpool (https://dwarfpool.com). Dwarfpool uses a RBPPS payment method (round based pay per share), which is based on the PPS method. Autopayouts are done hourly and they guarantee 100% uptime due to their distributed infrastructure. Dwarfpool makes up about 13% of the network hashrate.

All these top pools offer statistical reporting and monitoring via e-mail.

There are a number of pools that support multiple currencies, we’ve covered some of these in our posts on dogecoin mining pools, and LTC mining pools.

Cloud Mining

Mining pools are not to be confused with Ethereum cloud mining where the full task of mining is outsourced to an organisation which supplies the hardware and running costs and pays you a dividend based on your investment.

Mining pool payout schemes

The various different mining pools have different payout schemes, including PPS+ vs PPLNS. These determine the method by which your contribution to the pool is calculated, and ultimately how much money you get. It is important that you understand the payment scheme before you get involved in a pool.

Nanopool vs Ethpool – Four areas for comparison

Nanopool and Ethpool are both well-established mining pools that cater for the cryptocurrency Ethereum. Mining pools are a popular way for miners of cryptocurrencies to combine their resources and increase the number of blocks solved and their chances of generating profits.

In this article we’ll consider Nanopool vs. Ethpool.

Although Nanopool and Ethpool are both popular pools there are some substantial differences between the two and understanding these differences can assist a a miner in choosing a pool that meets his needs and can help him achieve his desired outcome from mining.

Recall, there is a large and growing number of pools available, so check out our previous post on the top ETH mining pools, and on PPS+ vs PPLNS payment methods to make sure that you’re fully up to speed on what’s happening in this space. 

Nanopool vs Ethpool

Currency options

Nanopool, found at https://nanopool.org, allows miners to choose from seven different currencies to mine (Ethereum, Ethereum Classic, Siacoin, Zcash, Monero, Pascal and Electoneum). The interface on the landing page is easy to navigate and gives high-level information regarding each of the cryptocurrencies available.

Ethpool, http://ethpool.org, offers miners the option of Ethereum as a choice of currency only. As we will be looking at the difference between Nanopool and Ethpool, we will focus on what Nanopool offers for Ethereum miners only.

Payment schemes

Ethpool calculates earnings on a unique basis that can lead to rewards three times larger than other mining pools.  When a miner submits a share, their credit will increased by the difficulty of the share.

The miner with the most credits will win the next mined block and his credit reset to the current credits less the number of credit of the miner who came “second”. Uncles are also paid on top of full block rewards.

Ethpool’s fee rate is 1% and rewards are paid out immediately after 10 confirmations.

We’ve looked in more detail at the Ethpool payout scheme in this article

Nanopool uses a more traditional PPLNS (Pay per last N Shares) payout scheme to calculate rewards. This means that miners get paid based on the number shares the pool finds and has an element of luck with regards to the outcome. The fee for belonging to Nanopool is 1% and payouts happen several times a day (with a minimum payout of 0.2 ETH.

Does Nanopool pay uncles?

One question that people often as is “does Nanopool pay uncles?” Although the Nanopool site does not specifically mention the payment of uncles in their support blogs or payment breakdowns, various forums confirm that Uncles are paid by Nanopool. i.e. here.

Activity

Nanopool has approximately 85,500 active miners and more than 232,000 workers active in the pool at any given time.  The average hashrate is 32,332.1 Gh/s and  about 850 blocks are mined every 24 hours.

Ethpool is smaller with about 1040 active miners and approximately 14,000 active workers. Approximately 96 blocks are mined over a 24 hour period and the average hashrate is 2.7 th/s.

Other

Nanopool is easy to navigate and give’s detailed pool activity statistics at any given time. Clear and simple to follow instructions are available  for first time miners to assist them to join the pool can be found under the FAQ section, including a section on the hardware required to mine Ethereum. The API is free and runs on CORs and the site includes download links for the preferred clients.

Ethpool offers excellent support to miners, including full stratum support and warnings for invalid shares.  Detailed statistics per miner and worker are available.

Final Thoughts: Nanopool vs. Ethpool

When choosing a mining pool to join, it is important calculate in advance what you can expect to earn and then understand how the different payout methods can impact this. There are many sites available on the internet with calculators.

Some of the payment methods and pools benefit long time miners that stay with one pool and some benefit miners that jump from pool to pool.  You may also wish to mine different cryotocurrencies, but stay with a single pool, where multi-currency pools such as Nanopool have an advantage, or focus on a currency and stay with a pool that over time will show you steady growth, such as Ethpool.

PPS+ vs PPLNS – Payment Options for Mining Pools (2018)

A mining pool is when a group of cryptocurrency miners combine their processing power to get quicker mining results.  The amount of processing needed to compete with mining pools has become very expensive and solo mining is no longer seen as viable an option by many.

In a mining pool, contributing miners are paid in proportion to the amount of processing power they contribute. The more powerful your rig, the more you’ll earn.

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Payment for the contribution made can be calculated in different ways depending on the type of pool the miners have joined. Each pools sets their own payment scheme, you can read more about the ethpool payout scheme. In this post we will consider some of the options including PPS+ vs PPLNS.

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PPS+ vs PPLNS

PPS

The most common calculation is PPS (Pay per share) where there is a standard payout for each miner based on the amount of processing power (hashtag rate) contributed. The mining pool will pay a set rate based for each completed hash, so the more power your machine has, the more you contribute, the greater your earnings. To get an estimated idea of what you can earn, refer to https://bitcoinsinireland.com/what-is-pps-in-bitcoin-mining/ for more information.

The earned amount per hash is dependant on the difficulty at a certain point in time. The difficulty is calculated on the overall hashing power of the global network.  PPS is a popular choice by miners because of the ease in which potential earnings can be calculated.

PPLNS

The popular alternative to PPS is PPLNS (Pay Per Last “N” Shares). This payment calculation generally gives higher payout over a long period of time, but has a level of unpredictability, or luck involved.

The PPLNS method calculates payments based on the “n” (Number) of shares that the pool finds. A pool may have a consistent number of blocks over a period of time, or may have large variances, which affects the calculation and ultimately the payout.

As you earn based on the blocks found during the time that you mine, you may see large variances in the payments. For some stats on the PPLNS payments, visit https://bitcoinsinireland.com/what-is-pplns-in-bitcoin-mining/.  The amount of processing power you have will have a significant impact on your earnings as your power is relative to the size of the pool instead of there being a direct proportion between input and output. If your mining rig is not as powerful as some other miners, choosing a pool that pays on PPS would be more beneficial.

There is more info on the PPLNS payment method here.

PPS+ payment method

A third Payment method PPS+ (Pay per Share Plus) was introduced towards the end of 2016 which is a combination of the PPS and PPLNS payments. Miners are paid for each share that they submit, giving them the predictable payment method of PPS, but an additional transaction fee will be paid based on the PPLNS calculation method.

This gives miners the best of both worlds as well as the potential to earn more. For a clear comparison of the payment methods see the ViaBTC page at, https://pool.viabtc.com/help/pricing/.

For clarity, many of the pricing discussions mention Solo. This is when a miner is allocated the full payment for the block they mined alone.

Final Thoughts: PPS+ vs PPLNS

Different mining pools offer different payment options. Some pools give you the option to choose your payment method, such as ViaBTC and some have a standard payment methods for all the miners in the pool so it is important to check before committing your resources. You can also use a mining calculator to get an estimate of how much you can earn.

Check out post on the top ethereum pools for 2017 for more info on the different pools.

In short, be prepared to do your homework ans shop around before you join a pool if you want to get the maximum return from your investment in mining hardware.