Mining Pool Hub Auto Exchange Explained
The uniqueness of Miningpoolhub is that it is a multipool consisting of 36 pools. Given the decline in profits from mining leading digital assets, it is worth paying attention to altcoin mining, and Miningpoolhub is one of the best platforms that combine pools for mining both popular cryptocurrencies and little-known coins.
Mining Pool Hub Auto Exchange Explained
The pool charges a commission of 0.9% of the number of earnings. Miningpoolhub pays remuneration using the PPLNS (Pay Per Last N Shares) method. The reward for finding a block is distributed depending on the number of shares (shares) and the complexity of mining for the last 30 minutes. The minimum payment amount depends on the cryptocurrency mined.
Earnings can be received either automatically (upon reaching the minimum threshold), or in manual mode. Pay attention to the ability to automatically convert digital currency, for example, you can exchange Groestlcoin for Bitcoin and withdraw your earnings to a BTC wallet.
To prevent inadvertent exchanges, there are two types of wallets for each pool. One wallet is not exchanged automatically, and the other makes an automatic exchange. On the wallet page of each pool, you can transfer coins between these wallets.
- The mining pool accumulates coins so that they can be effectively converted on the exchange, and there are minimal amounts for conversion. This delay depends in part on the amount of mining work that miners put into this particular coin.
Nicehash is not a classic mining pool. This platform is the world's largest cryptocurrency mining market. This is a platform for sellers and buyers of computing power that was registered, as the Mining Pool Hub, in 2014, but in Slovenia.
To summarize, the Mining Pool Hub has a convenient pool, simple settings. Everyone who wants to start cryptocurrency mining or has been mining for a long time should try to register on the Mining Pool Hub service. The only drawback of this service is that sometimes there are discrepancies in the number of coins mined.
The software does not mine Bitcoin. It mines other currencies such as Ethereum, ZCash, Monero and a few others. In Mining Pool Hub, you have the option to setup auto exchange to a specific coin. Just log into MPH and look for "Auto Exchange" on the left hand side menu.
The simplest way to determine if the software is mining, is to have a look for another console window, and then scroll through that window to see if shares were submitted. You can also have a look in MPH at the "Balances" section in the left hand menu to see if you are getting balances in. For a more granular view, you can click on the currency in the balances view, that will take you to the currency pool, where you can view a dashboard with info.
How to understand if the software is mining at its best - it really comes down to how often you cash in and if you have the auto switch on. As the currencies fluctuate, you might get a less favorable exchange rate, so although you mined a coin that was most profitable a while ago, it might not be the case anymore. The best is to do your own research, and to monitor your miner. There are a few websites that can help you with crypto currency related info:
Use a mining pool. You alone do not have anywhere near enough power to find a block which is how you actually get paid. Using a pool means you have to share your block finding profits and most pools take small fee (1%). I use MiningPoolHub and I find it's Auto Exchange feature very convenient. I exchange to LTC as it has very low TX fees and is supported by Coinbase.
A modular ASIC/FPGA miner written in C that features dynamic clocking, monitoring, and remote interface capabilities. It offers advanced mining software, supports multiple GPUs and ASICs, and is integrated into multiple popular mining pools.
Setting up your own mining pool requires a huge initial investment: you will need to rent a big warehouse and buy a lot of hardware. If you are not ready to spend (potentially) hundreds of thousands of dollars and many hours a day maintaining it, we recommend against it.
There are a lot of good Dogecoin mining pools out there. Litecoinpool.org, although natively meant for mining LTC, allows merged mining for DOGE and has great rates. However, all your earnings will be in Litecoin.
To further complicate matters, it may be rare that a newly-mined coin was created solely using hijacked computing power. Arguably more likely (and an analogy to the traditional concept of co-mingling), particularly in a pooled-mining operation, the majority of the computing power resulting in the mining reward may have been from legitimate contributors to the pool. A coin may be tainted, but by how much, and is such a coin the proceeds of crime?
The fiat on/off ramps are easier to understand; for example, an exchange knowingly (or even suspecting based on the threshold of reasonable suspicion) receiving bitcoins generated from cuckoo mining and paying the miner in fiat in return may be at risk of being accused of money laundering, and in most jurisdictions would be required to file a SAR. How an exchange or anyone else would be able to identify such activity would be difficult to say the least.
The official Dash website has a list of 18 different mining pools that can still be used for Dash. They do specify that the list is only for informational purposes, and that none of the services have been evaluated by Dash, and that none of them are endorsed by Dash.
The features you want to look for in a good Dash mining pool are similar to those of any other cryptocurrency pool. First of all you need to find a trustworthy pool. The pool is paying you based on your contribution to their hash power, and you have to trust that they are being honest about their calculations.
Given that you are committing your hashing power to a pool operator, you want to make sure that they are known for being honest and have a solid reputation. We have reached out to the community and have come up with the below list of the best DASH mining pools.
MiningPoolHub began as a small mining pool run by a dedicated group of Ethereum enthusiasts, but has since grown to not only one of the largest Ethereum mining pools, but it also includes support for mining roughly three dozen other coins. And one of those is Dash.
It also has roughly 10 times the number of Dash miners that MiningPoolHub and Suprnova have, and finds blocks every 40 minutes on average. While you might think bigger is better, I always advise avoiding the largest mining pools to avoid centralization of mining.
At viaBTC you can choose a PPS payment method, or they also offer pay-per-last-n-shares (PPLNS), which is a very popular payment scheme at mining pools. Either way, there are no transaction fees, and miners are only responsible to pay a small maintenance fee of 4% for PPS payments and 2% for PPLNS payments.
Due to the recent development in local regulation, we will no longer be able to provide you with mining pool services. Your pending payout will be safe, and the final payout will be sent automatically as usual. If you have not filled in the payout address, please do so before 2021-12-30. We plan to shut down our services in mainland China, excluding Hong Kong, Macau, and Taiwan, by 2021-12-31 16:00 UTC. Please contact us with supporting documents if our system incorrectly identifies your country of origin.
The miners are paid their rewards through the Round Based Payment System (RBPS), which pays them for every accepted share. The pool employs another payment model, HBPPS, that involves a time-based payment of shares, meaning all found blocks will be calculated on an hourly basis. This auto-payment feature is convenient for miners who want their earnings credited fast.
The fee charged is a standard of 1%. This Ethereum mining pool has a global network of powerful servers. The minimum payout is set at 0.01 ETH, which is ideal for small miners. There are no Ethereum transaction fees for payouts, as the pool fee is used to pay for it.
The minimum hash rate for mining here is around 5 Mhesh/s. The pool relies on a global network of servers, but it is recommended that you connect to 3 farms to avoid waiting for long payments. The current hash rate is 16,846 GH/s.
Mining Pool Hub is an Ethereum mining pool that is really popular within the mining community. The pool supports the mining of 18 different algorithms and a total of 5 Ethash-based coins, including ETH.
This Ethereum mining pool is based in China, and it currently holds 29% of the market share. In addition to ETH, you can also mine GRIN and BEAM. The pool uses the PPS+ algorithm to determine user rewards.
-API_KeyRequired only if you are mining at MiningPoolHub. Adding this parameter / key pair allows MPM to gather the balances at the pool.The API_Key can be found in the MiningPoolHub Account detail page.
Note that the pool selected also needs to support the required algorithm(s) or your specified pool (-PoolName) will be ignored when mining certain algorithms. The -Algorithm command is higher in execution hierarchy and can override pool selection. This feature comes handy when you mine on Zpool but also want to mine ethash coins (which is not supported by Zpool). WARNING! If you add all algorithms listed above, you may find your earnings spread across multiple pools regardless what pool(s) you specified with the -PoolName command.
-CoinName [Zcash, ZeroCoin etc.]Limit mining to the listed coins only; this is also a per-pool setting (see Advanced Configuration). Use commas to separate multiple values.Note: Only the pools ending in ...-Coin expose all coin names in their API. Check the web dashboard / pools to see which pools expose which values.
-CurrencySymbol [BTC, LTC, ZEC etc.]Limit mining to the listed currency only; this is also a per-pool setting (see Advanced Configuration). Use commas to separate multiple values.Note: Only the pools ending in ...-Coin expose all currency symbols in their API. Check the web dashboard / pools to see which pools expose which values.