5 best pools for Monero mining: choose for yourself

The extraction of cryptocurrencies by mining imposes on the miner the need to join the same users in order to make the process stable and profitable. Hardware power is combined to increase the speed of calculations and receive rewards for found blocks more often.

This material will discuss the best pools for mining the Monero cryptocurrency.

Contents:

• Peculiarities
• Advantages
• Extraction methods
• Main pools
• MiningPoolHub
• Crypto-Pool
• MinerGate
• DwarfPool
• MoneroPool
• conclusions

What is Monero, history of creation, capitalization

The platform appeared in April 2014. Its original name was BitMonero. It combines two words: Bit and Monero. The first part is a reference to Bitcoin, and the second means “coin” in Esperanto.

Monero is not another Bitcoin clone. The platform implements the CryptoNote mechanism, aimed at obfuscating the block chain. The algorithm received high marks from programmers in the cryptocurrency world. Among them was one of the leading Bitcoin developers, Vladimir Van der Laan.

Immediately after launch, the platform was subjected to a massive hacker attack. Although the attackers acted aggressively and did not use standard approaches, Monero managed to survive without serious damage.

Two more years have passed since the launch of the platform, and the popularity of the coin has reached its peak. Users were seriously discussing: could Monero “kill” Bitcoin? The audience for the coin has increased, making the currency one of the most popular.

In December 2015, the XMR/BTC rate was 0.00097. By the beginning of autumn 2016, it was 0.0265. The exchange rate increased twenty-seven times. And this takes into account the fact that Bitcoin itself has grown by 50% during this time. Based on this, the real value of Monero increased by 4000%.

In 2016, the cryptocurrency also showed an increase in market capitalization from 5 million to 135 million USD. In May 2022, this figure already exceeded 2.6 billion USD. At the same time, the coin rate was 164.50 USD. At the time of writing, the currency ranks twelfth in the ranking of digital money.

conclusions

As a result, we have a coin with several interesting features. First of all, this is increased anonymity and concern for user privacy. The possibility of mining on a processor is also surprising, because to mine cryptocurrencies you usually need video cards or special ASIC devices. Finally, the icing on the cake is the low electricity consumption, which will please those with an expensive outlet.

The coin has been around for a long time and will probably live for a long time. It's definitely worth taking a closer look at, if you haven't already. And the low electricity consumption will please the owners of an expensive outlet.

Subscribe to our channel on Telegram. We even track Monero.

Features of the Monero cryptocurrency

The token has gained enormous popularity, surpassing other digital money. The coin's authority has grown due to many factors. One of them is integration with the darknet AplhaBay, which is a popular web market. In addition, the token was added to the payment system of the following companies and services:

• SIGAIN Postal Service;
• Global consortium Oasis, shaping e-commerce standards;
• AppStore and iTunes.

Another reason for the success of cryptocurrency was the growing demand for anonymous coins. Therefore, the appearance of the token came at a good time for it.

The coin’s success was also due to its strong encryption, which ensures the high security of the platform. The coin implements a PoW mechanism based on proof of work, the Cryptonight hashing algorithm, as well as a unique protocol for generating a one-time address that hides data about the crypto wallet and the user from prying eyes. In addition, the coin is protected from hacking.

Another feature of the token is the chain of ring signatures, which acts as a mixer of public keys and eliminates the identification of users in the chain. In January 2022, the platform became even more anonymous. Additional functionality based on the Bitcoin algorithm was added to it. The developer of an innovation that increases the secrecy of transactions was Gareth Maxwell.

The hard fork was implemented in the chain from block No. 1220516. The ring signature mechanism is modified in such a way that it hides the number of users participating in transactions with users outside the system.

A new version of ring signatures is called RingCT. It also hides the amounts of transfers, their purpose and origin. RingCT operations are now installed by default. However, until the fall of 2017, users were able to perform transactions without using this additional protective mechanism.

Interesting fact: the Monero project initially acted as a hobby for a group of programmers. The encryption system on which the project operates was created by the famous American mathematician Daniel Bernstein.

In 2022, the coin was added to the largest cryptocurrency exchange, Kraken, located in San Francisco. Initially, XMR trading with BTC, EUR and USD was available. You can issue an unlimited number of coins. The initial issue amounted to 18.4 million tokens. This limit will be reached in 2022.

After this, all system support will depend on miners. Opening a new block will take one hundred and twenty seconds. The miner's reward will be 0.6 XMR.

Please note that there is no 100% guarantee that Monero will not be hacked. To achieve their goal, the attacker needs to capture a large part of the system. Only in this case will fraudsters have control over some operations on the network.

Advantages

The Monero project has already proven its relevance in the cryptocurrency world. XMR is one of the most liquid coins. To summarize, we note the most important advantages of the token:

• XMR can be quickly converted to BTC;
• Mining a coin does not require the use of significant computing power;
• On some exchange platforms it is possible to directly exchange Monero for fiat money;
• The currency is volatile, which opens up opportunities for traders;
• Currency extraction is characterized by low energy costs.

The digital coin in question is one of the most attractive for miners. Low hardware requirements have contributed to the fact that most malware associated with virus mining mines XMR.

Flaws

Monero has virtually no significant disadvantages. Nevertheless, experts point to their presence. The disadvantages of the platform include:

1. Significant volume of each transaction. It is eight times larger than Bitcoin;
2. Cryptographers dispute the claim that the issue of maximum anonymity has been resolved within the Monero platform. For example, the authors of the competing Zcash project presented a whole report that in the first two years of XMR’s existence, transactions with this currency could be tracked. Monero developers reacted harshly to this, calling the information “ordered”;
3. The theoretical possibility of attackers taking over most of the network is also criticized. Although this option is unlikely, it is possible. Therefore, it is impossible to say that Monero is a 100% reliable and safe currency.

Advantages

What advantages does this cryptocurrency have and why is it profitable to mine?

There are several advantages:

• It is convenient and profitable to exchange it for Bitcoins;
• Its extraction does not require too significant hardware resources;
• There are large exchanges that allow you to exchange Monero directly for classic money (fiat currencies);
• Quotes fluctuate quite a lot, which you can also make money on if you have some skill;
• Mining has minimal energy consumption.

Thus, currently this cryptocurrency is one of the most preferred for mining.

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2 How the pool works> go

Monero mining methods

Coin mining is characterized by the active use of the AES instruction system, focused on 86-bit microprocessors. Therefore, GPU mining is not very efficient. The mining process requires a significant amount of memory.

As we already wrote above, the long formation of a block is one of the key disadvantages of the platform. We remind you that this process takes 8-10 times more space than a similar one for Bitcoin.

A characteristic property of XMR is that even old computer equipment can be used to mine coins. For example, it’s okay to use an old laptop to mine Monero, but don’t expect fantastic results.

More details: Mining Monero: main mining methods

There have been attempts to release ASICs for XMR mining. However, Monero developers have an extremely negative attitude towards such devices, since they consider ASICs a threat to system security. The authors stated that they intend to fight attempts to use special devices for mining. The developers believe that the use of ASIC reduces the decentralization of the currency, so we do not recommend purchasing such equipment.

To mine yourself, you need to follow a few simple steps. First, download the required software from the official website of the platform. It includes two files: simplewallet and bitmonerod. Further:

• Unzip the mentioned files and save them to your computer’s HDD;
• Launch the MoneroClient.Net.exe application. If a system warning occurs, simply ignore it;
• If the network is blocked, allow the use of a private network;
• Once the Monero client is launched, the wallet and daemon will begin to function;
• In the MoneroClient.Net.exe environment, right-click to bring up the menu. Here you can customize the client's work according to your own wishes.

We recommend systematically performing backups. This can be done using the Backup Manager command in the Monero client environment. The latter has an automatic self-saving mode.

It may not be very profitable to mine Monero on your own, since it is extremely difficult to achieve high profits. Optimizing the coin mining process is easy. To do this, you should join one of the mining pools.

There are a lot of similar resources. Many of them are scams. Below we will look at worthwhile mining pools for XMR mining. By choosing one of them to cooperate, you can optimize your profits.

Common questions about mining Monero

How long does it take to mine 1 block of XMR?

If you use an AMD FX8320-level CPU, whose hash rate is 330 hashes per second, you will spend a year on this.

Is it possible to mine XMR on Raspberry Pi?

Yes, this is quite possible. You just need to remember that the power of this model is not high enough for you to process blocks quickly enough. In other words, you can use a Raspberry Pi to mine XMR - it just won't be profitable.

Is XMR mining worth it at all?

You need to decide what you expect from XMR mining in principle, and also decide how much money you are willing to spend on purchasing hardware. However, you can also use our calculator to make an approximate calculation of the profitability of mining and understand whether it is worth it.

Is mining Monero breaking the law?

There is nothing that can stop you from mining this cryptocurrency from a legal point of view. Mining is legal - but, of course, you still have the obligation to pay taxes on your profits. The exact amount of taxes and the procedure for paying them can be found out at the tax authority at your place of residence.

Is it possible to mine and not pay anyone?

Of course, you can start mining without joining a pool, but then it will be very difficult for you to process blocks. Mining in a pool is a better option. But, of course, nothing comes for free, so you will have to share your income for working in the pool.

Is it possible to mine XMR on a smartphone?

Technically, you can use an iPhone-level device to mine XMR - but we wouldn't recommend doing it. Firstly, you won’t make much progress anyway. Secondly, your phone will overheat, and overheating is the enemy of electronics.

Is it dangerous to mine XMR?

There are no known serious security threats to XMR miners yet. But, of course, you will need to monitor the process.

Which country is best for XMR mining?

We have two options for you. Firstly, Iceland is very cold there, so you can save a little on cooling the rig. Secondly, Georgia has an excellent tax climate and a developed blockchain market.

Why is it worth mining XMR in principle?

Many people can mine this cryptocurrency profitably. With the help of mining, you will provide yourself with a stable influx of funds, and even daily.

The most famous pools for mining Monero

Mining pools are platforms whose goal is to combine the computing power of different miners. This approach allows you to achieve maximum speed of finding blocks. The reward is divided proportionally between all participants.

The platform takes some of the profit for itself in the form of a commission. The latter indicator can range from 1% to 5%. To achieve effective interaction between several miners, special software is used. Each user is required to install it on their computer.

In the table below you can see and compare the key characteristics of the most popular mining pools for XMR mining.

The characteristics of the top mining pools are similar, and each platform has its own characteristics. Below we will analyze each service from the list given in the table.

Best Monero Mining Methods

As with many other cryptocurrencies, mining Monero relies on finding solutions to complex cryptographic equations using central processing units (CPUs) or graphics processing units (GPUs). Many tokens can no longer be efficiently mined using a CPU, but not Monero - you will still need a regular desktop computer to mine this cryptocurrency.

But, of course, to achieve maximum effect, we still recommend using a GPU - this will allow you to mine much faster. In particular, we recommend purchasing a GPU from AMD. We will tell you more about the best GPUs for mining later in this article.

Monero is also similar to other cryptocurrencies in that mining Monero through a special pool is the most preferred format of work, since it involves regular payments and eliminates the need to wait for the entire block to be processed. Pools are based on the following principle: the computing resources of hundreds and even thousands of users are shared, which allows blocks to be processed much faster - and, as a result, payments to be received more often.

Here's an additional argument to support this claim: imagine you're trying to mine Monero yourself. In this case, you will be competing with a pool of miners whose computing power is a thousand times greater than yours. Such a pool will process blocks several orders of magnitude faster than you, and therefore you will only have to rely on luck to successfully process the entire block.

Generally speaking, the best way to mine Monero is to join a pool and use an AMD GPU.

Pool #1: Nanopool

Pool address: https://xmr.nanopool.org

The platform was developed relatively recently. The Monero nanopool was created in 2022. Its peculiarity is the ability to mine several digital coins, including XMR.

You can mine Monero using both CPU and GPU. To select the appropriate operating mode, you need to go to the “Help” section. Next, download the software that is suitable for your computer. To mine on hardware from AMD and CPU, choose the Claymore program.

Tsiv Miner is suitable for working with NVIDIA video cards. To mine coins using the CPU, you can also use a miner called Wolf miner.

Download the necessary software and install it on your computer. Next, you need to generate settings for coin mining. Then indicate your e-mail, the name of your computer, the server and the address to which the mined tokens will be sent.

The pool has proven itself well among users. Low fees and relatively decent mining capabilities make it attractive to most users.

The commission is 1%. You can withdraw amounts starting from 1 XMR. A user-friendly interface and simple settings make Nanopool one of the best mining pools for Monero mining.

In addition to XMR, you can mine ETH, ETC, ZEC, SC, PASC and ETN on this resource. You can also mine coins by using cloud technologies. To solve this problem, you can use the services of the NiceHash service.

Reviews from Nanopool users:

Oleg:

“Nanopool are thieves, they steal in a terrible way, I’ll wait for the withdrawal and leave.”

RUT:

“If you look at the list of Top miners on the main page, you can see that some have a declared power of around 200 or even zero for a long time, and the ether is pumped in million ruble equivalents, according to the Current Calculated Hashrate! How to explain this discrepancy???"

On CPU

The main advantage of CPU mining is energy savings; the user will spend much less on bills than when using a GPU. The highest Hashrate is shown by Intel i5 and i7 processors. These models offer the perfect combination of high performance and efficiency. To start mining XMR, download and install the Minergate program.

Even beginners can handle the software, as it has an intuitively simple and user-friendly interface. We register on the official website of the developers, and then confirm our email account by clicking on the link that was indicated in the letter.

Go to the “Downloads” section and download the software. Two versions are available - 32 and 64 bit.

After downloading the program, install the program as shown in the screenshot below.

To start XMR mining, enter the email address specified during registration in the appropriate field.

The main menu of the program opens, where the miner is configured.

There are other cryptocurrencies available here, but we are interested in ZEC coins. Open the "Panel" section and then the "Profile" tab and make changes as shown in the picture.

Pool #2: MoneroPool

Pool address: https://pool.monero.org

A characteristic feature of the pool is that this platform works exclusively with XMR. At the moment the pool is not very popular yet. The number of active miners on this platform barely exceeded six hundred users.

Overall performance is low. It is only 4 Mh/s. It takes three to four hours to sign and receive. In some cases this figure reaches twelve.

The platform has seven ports. There are no restrictions on performance levels. Anyone has the opportunity to connect to each of them.

The platform commission is 1.9%. The withdrawal threshold is 0.5 Monero. Withdrawals are made automatically every six hours if the user has a sufficient amount in his account.

Feedback from Moneropool users:

Kurdun:

“I’ve been there for a few days. Payments are penny for penny, without delays. Cool Russian-language chat. The admin is there 24/7. The answers are almost immediate.”

acdhub2:

“According to some internal time intervals, but they pay normally. The calculator agreed.”

How to connect to the pool and start earning step by step instructions

Have you decided to mine monero and don’t know where to start?

Check out our instructions for step-by-step instructions for a beginner.

Step 1. Select a pool and register in the system

Choosing a mining pool is the most important and crucial moment. There are many platforms, but the conditions of each of them differ significantly and are not suitable for every foreign currency miner.

To choose a mining pool, pay attention to the following:

1. Its power . The more powerful, the higher the earnings.
2. Requirements for new participants . Your equipment may not be powerful enough to handle some projects. There are sites that set minimum requirements for new participants - your farm must meet them.
3. Commissions . The lower the commissions, the better. There are projects that charge huge percentages for withdrawals - up to 5%. The normal commission size is 1%.
4. Minimum payout amount . If you have weak equipment and the minimum wage is high, look for another site. Usually paid out upon reaching 0.5 XMR.
5. Payout frequency . Typically, mining pools pay out several times a day - after reaching the minimum. This is normal practice. If payments are processed once every three days or a week, it is not recommended to work with such a project - during this time anything can happen in the market.

Step 2. Create a wallet to store Monero

There are two main ways to store digital currency:

• on the internal wallets of exchanges,
• on external crypto wallets.

Exchange storage facilities are convenient and are preferred by active users. But in terms of security they are inferior to external wallets. If you want to protect yourself from hacking, use external crypto wallets.

Wallets are:

• monocurrency – work with one cryptocurrency. As a rule, these are official applications from crypto developers,
• multicurrency – support two or more digital currencies. This is the most convenient option. You can store multiple cryptocurrencies and convert them inside the wallet.

To read: Mining on the NVidia Geforce GTX 1060 video card

Popular multi-currency wallets:

• Exodus,
• Electrum,
• Jaxx,
• Coinomi,
• Cryptonator.

Choose a secure wallet

After registration, do not forget to make backup copies of your keys - without them you will not have access to your crypto wallet.

Step 3. Install and configure the XMR mining program

When you have decided on a pool and created a wallet, install the software necessary for mining Monero.

The program is selected depending on your equipment. Since this crypto is mined only using video cards and processors, you have little choice.

Miner programs for Monero:

• Wolf's CPU miner – for processors,
• CryptoNote GPU Miner – for video cards.

After installing the program, go to the mining pool and enter the address of your Monero wallet.

Step 4. Test the program and start mining

Open the program and check that the settings are correct. If everything works, start mining.

Pool #3: DwarfPool

Pool address: https://dwarfpool.com

Well proven pool. The platform's performance is 18 Mh/s. The number of users using this service is not too many. The platform is suitable for beginner miners with medium-power equipment.

A clear advantage of DwarfPool is the absence of mandatory registration. Operations performed within the pool are completely anonymous. This effect is achieved through the use of algorithms implemented in Monero.

The platform servers are protected from attackers; they are characterized by stable operation and constant availability.

Miners are rewarded using the PPS algorithm. The user will be able to receive funds after confirming that the block has been found.

The disadvantages of DwarfPool include the inexpressive design of the portal. You can find out all the information necessary for work in a special section - FAQ The commission fees for this pool are not the smallest. It ranges from 1.5% to 2%. In addition to the commission when withdrawing funds, the system calculates another fee. It ranges from 0.008 to 0.014 XMR.

Reviews from Dwarfpool users:

olegsh:

“I switched to Nanopool, I didn’t like DwarfPool. Although he may be charging correctly. But it feels like it's less than it should be. DwarfPool is good for beginners. I don’t know of any other pool for Monero that withdraws from 0.1 to exchanges. Maybe there is, but I haven’t found it, but the dwarf might. Therefore, for beginners with low power, this is the most optimal. The power of the pool is decent, but let the charges remain on their conscience.”

sansan:

“I have experience mining XMR on DwarfPool, it didn’t work with the calculator, it was 15-30% less. I think the difference comes from the calculator not taking into account the luck of the pool in finding the blocks. I can assume that the calculator believes that all miners are a single whole and, based on the global hashrate, displays what should ideally be obtained. On pools with high capacities, the probability of being the first to calculate a block is higher, but the reward for each miner from the found block is less. In small pools we search for a long time and rely on luck.”

Monero Mining Profitability Calculation

We have developed a simple calculator for Monero, with which you can determine how profitable mining this cryptocurrency will be for you. It takes into account aspects such as hash rate, amount of electricity consumed and mining pool fees.

With this calculator you can find out how much you will earn per day or per year. But do not forget that the question of the profitability of mining depends on many variables, and therefore our calculator gives only a rough estimate, and not an exact value. For example, if the price of XMR increases, then your mining income will increase along with it.

Pool #4: MinerGate

Pool address: https://ru.minergate.com

A popular platform that allows you to mine various coins that operate on the basis of different protocols. On this pool, users can mine ETH, BTC and a lot of other cryptocurrencies, including Monero.

Mining pool MinerGate - full review of 2022

This pool also has an application for mobile gadgets. With its help you can mine cryptocurrencies on the CPU. The application is made with high quality and is easy to use.

The size of the commission directly depends on the mining method. Using the PPLNS method, the user will give 1% to the system. If the user uses PPS, the platform will keep 1.5%. Users working only on this platform are recommended to use PPLNS. Otherwise, choose PPS.

Users with powerful equipment have the opportunity to earn about 20 USD in seven days from this pool. You can more accurately calculate your income using profitability calculators, where you need to indicate the characteristics of the computer you are using.

MinerGate works most stably with 64-bit Windows, MacOS and Linux devices. This platform accounts for about fifteen percent of all blocks. If you have powerful enough hardware, you have the ability to withdraw around 300 Monero monthly.

Feedback from Minergate users:

VidisCo

“A dual-core computer is enough, but not quite. The main thing is that it is possible to control all powers. You can use a couple of cores, otherwise the computer will simply hang. In addition to a desktop computer, it is possible to mine on a tablet, and there is also a mobile version.”

Stklauss

“Mine Monero. I don’t like the high minimum wage - 0.01. If the contract is unprofitable within three days, it is canceled. These restrictions are spelled out in the rules, but since they are in English, it’s impossible to immediately understand all the details. Withdrawal of money is carried out in a matter of minutes. The pool is normal, but there are some unpleasant little things that spoil the impression.”

Profitability of Monero Mining

Having figured out how to mine Monero, it’s time to calculate the estimated profitability of mining digital currency. It is absolutely not necessary to carry out all the calculations; use a special calculator. We open the whattomine website, where up-to-date information on the cost and profitability of mining is available. When calculating how much you can earn, the calculator takes into account the speed of block generation and network hashing.

First you need to select the video card model, and also enter the number of GPU devices if you have a farm. After this, click on the “Calculate” button. The portal will determine the current hash rate and mining profitability.

Over time, the table's indicators will change.

Pool #5: Crypto-Pool

Pool address: https://monero.crypto-pool.fr

This pool is quite popular, it offers favorable conditions for mining Monero, and is characterized by stable operation. The main servers of the platform are located in Western European countries. The pool was developed by French programmers.

The platform's performance level is about 10% of the total pool capacity. The last figure is 260 Mh/s, this is a good power level. Miners can expect to complete a block within 20 minutes, so the final income can be between 30 and 40 coins per day. Of course, provided that you have powerful equipment.

The disadvantage of this platform is the high level of commission, it is equal to 2% of the total reward amount. The minimum withdrawal threshold is 0.3 XMR.

The pool is suitable for users who already have experience in mining. This platform is not suitable for users with weak hardware.

On the pool website you can also view statistical information on the blocks being formed. There are different ports on the platform, you need to choose them correctly for operation. This may affect its results.

Note that on Crypto-Pool there is high competition between miners, but the level of potential profit here is also very high.

Reviews about Crypto-pool:

BigPostman

“The calculator on the Crypto-pool website in the first days gave me 0.08 XMR per day according to my speed, later it began to give 0.07 XMR per day (apparently difficulty). The bottom line is that in fact, more than 0.05 XMR was never accrued for 24 hours of continuous work, and yesterday the impudence of the pool in terms of underpayment simply went off scale - only 0.03 XMR. An increase in the production speed by 400 H/s (up to 4380 H/s) due to connecting one Xeon with 16 threads for several days did not at all affect the number of royalties for the work. Taking into account the pool commission of 2%, the minimum withdrawal threshold of 2 XMR and the complete frost in terms of support, I advise those who wish to think carefully before connecting to Crypto-pool.”

rutc4

“Monero.crypto-pool.fr is an excellent pool, after 3 days of testing some pools, I chose this one. I received a payment, withdrawal from 0.3 XMR automatically, you regulate the payment time yourself. If you withdraw to your local wallet, then you can withdraw 0.3 XMR, and if you withdraw to an exchange or exchanger, then the minimum is only 2 XMR.”

Monero Hash Algorithm

The hash algorithm that makes it possible to mine Monero is called CryptoNight. It has many features that need to be taken into account: for example, this algorithm loads the device’s memory very actively, so for its operation it is critical to have a sufficiently high data exchange rate between the processor and the memory module involved.

As a result, GPU-based mining running CryptoNight turns out to be less efficient than when working with other algorithms. You could even say that CryptoNight favors the CPU - and this used to be considered a plus. In addition, ASIC miners also pose a threat, which is why Monero developers have started using the latest version of CryptoNight (7.0) for XMR.

Pool #6: MiningPoolHub

Pool address: https://monero.miningpoolhub.com

This mining pool is the most popular, it covers an impressive audience, so the total power of this pool is very high. It takes about forty minutes to mine one block, and the profit for it is distributed among all platform participants. MiningPoolHub cooperates with large exchange platforms and makes it possible to withdraw earned coins to different crypto wallets.

The most important advantage of the platform is the low level of commission fees, it is 0.9%. In addition, the system charges each user a fixed fee of 0.015 XMR when withdrawing funds.

The platform is characterized by stable operation, which sets it apart from its competitors. The level of security and anonymity on MiningPoolHub is also very high.

To withdraw accumulated XMR to your wallet, you need to specify PaymentsID. If the operation takes place through any exchange platform, this point is absent.

Miningpoolhub reviews:

je5terc0re

“Cool pool, direct mining with exchange into any coin, customizable payments. You can mine on a processor or video card in a single account. Statistics by day, selection of coins and algorithms are possible for the farm directly from the site, if you make the right batch file.”

Piarb

“Some time ago I tried to take a closer look at this miningpoolhub. Multipool is 3.5 years old! But for some reason, no one writes about it anywhere except bitcointalk with the original topic. I spent half an hour staring at their thread with 4,000 messages, but I still didn’t understand how to switch the algorithm automatically.”

Where to mine Monero list of pools

Monero is a popular cryptocurrency. There are so many sites for its production that choosing the best ones is not easy.

In order not to bother you with searching, we have made our own selection of Monero pools that are best suited for beginners.

MinerGate

MinerGate is a multi-currency pool that works with coins based on the CryptoNigh algorithm - bytecoin, monero, etc. This project is best suited for beginners. You don’t have to set up a miner for a long time; you just need to register on the website, install it and start mining digital gold.

There is no minimum withdrawal amount - upon request, all mined coins will be sent to your wallet.

Withdrawal commission – 1.5%.

Monero Pool

Monero pool, operating since 2014. It unites only Monero miners; other currencies are not mined in the Monero Pool. The minimum payout is 0.5 XMR. They are paid immediately after this amount has been accumulated.

Withdrawal commission – 1.5%

Mining Pool Hub

Mining Pool Hub is a large multi-currency mining pool that brings together the majority of monero miners.

The minimum payout is 0.1 XMR. Payments are processed automatically.

To read: How Litecoin faucets work and how you can make money on them instructions for miners + review of Litecoin faucets that pay

Commission – 0.9%.

Learn more about working with Mining Pool Hub from this video:

Current Monero rate chart

The main question that concerns everyone who wants to start mining Monero is how fast is the Monero to ruble (XMR/RUB) and Monero to dollar (XMR/USD) rate growing? After all, growth dynamics directly show whether an asset is a successful investment. At the end of 2022 and the beginning of 2022, the altcoin had only positive trends.

In January 2022, a downward movement was noticed, but this can be attributed to the general situation in the cryptocurrency market. For those interested in investing in digital coins, it is worth considering that this is a volatile market.

Information from history

The developer's goal was to create software capable of performing larger calculations while using resources economically. This would allow ordinary users to mine currency on a par with professionals. The CryptoNight algorithm is much more demanding on RAM, but allows you to use all PC resources.

Monero first became available for mining in 2014, but attention was paid to it only a year ago. At the beginning of 2022, the capacity required to mine Bitcoin increased, and the efficiency of the systems left much to be desired. Many miners began to look for a solution. Ordinary users who are unable to spend thousands of dollars on farms have also joined them.

Unlike Bitcoin, which relies on the power of video cards, Monero uses the processor equally, which increases mining efficiency. Currently, 1 block is generated every 2 minutes, compared to a Bitcoin block generated every 10 minutes. Does this mean that you will have to build a separate system for the altcoin? Not at all, we will explain why below.