Imagine you are a fisherman, aiming to catch as many fish as possible in the ocean. You have two choices: one is to row out to sea alone in a small boat, and the other is to join a fishing fleet. With only a small boat and a few nets, the amount of fish you can catch alone is minimal. You need to spend a lot of time and effort finding fish, and due to the simple equipment, the success rate of catching fish is relatively low. The ocean is full of uncertainties; sometimes you may come back with a full load, but more often, you return empty-handed.
By joining a fishing fleet, you can use all the advanced fishing technology on the fishing boat, such as sonar fish finders, to increase the efficiency and quantity of your catch. The fishing fleet distributes the catch according to each fisherman’s contribution, meaning even if you don’t catch much personally, you can still get a share of the team’s total catch. This way, you can spread the risk and ensure the stability of your income.
From the above analogy of fishermen going out to sea, it is not difficult to understand why many miners now prefer joining mining pools rather than solo mining. Joining a mining pool is like joining a fishing fleet, allowing you to leverage the team’s advantages to improve mining efficiency, share risks, and achieve more stable returns.
Background of ViaBTC Pool
In the crypto mining industry, since the first Bitcoin mining pool appeared in 2010, mining pool organizations have been like performers on a stage, continuously changing. Today, there are few mining pools that still operate stably and maintain top global hashrate, and ViaBTC is one of them.
Founded in May 2016, ViaBTC is a versatile crypto mining pool that supports mining for BTC, LTC, KAS, and other coins. ViaBTC currently hosts over 1.07 million miners, contributing a Bitcoin hashrate of 83.5 EH/s, which represents 14% of the total network hashrate. It ranks third among Bitcoin mining pools, following AntPool and Foundry USA.
Source: Mempool
Why Choose ViaBTC Pool?
1. Simple Interface Design
Among the many mining pool institutions, why choose ViaBTC to mine Bitcoin? For me, what initially attracted me to ViaBTC was its simple interface design. Connecting the miner and ensuring its proper operation until the mined Bitcoin enters your wallet is not as simple as playing an NBA 2K game. Especially when some mining pool interfaces in the industry are filled with various complicated data, these data seem to mock beginners mercilessly, and many people might feel discouraged because of this.
ViaBTC Web Interface
A simple interface allows users to understand and operate more easily, and it can be used without long learning time. ViaBTC Pool has made great efforts in interface design both on the web and app, fully considering the needs of novice users, and putting the most important functions in the most prominent positions. All functions are clearly and reasonably distributed, reducing unnecessary clicks and searches. At the same time, a help center is set up, providing comprehensive and detailed Q&A articles for users to read. This is especially important for those who have just entered the mining field, as it can effectively lower the threshold for entry into mining.
ViaBTC Mobile App Interface
2. Fast Payment of Mining Rewards
No one wants to finish a day’s work and then wait until the next day to get paid, especially when the payment is in a highly volatile cryptocurrency. I wanted to find a mining pool that could settle earnings the same day, preferably even hourly or by the minute.
After thoroughly researching most Bitcoin mining pools in the industry, I found that not many could meet this requirement. ViaBTC is one of the few pools that can settle earnings hourly. If you choose their PPLNS payment method, you can get BTC mining rewards settled as quickly as every ten minutes. This means I can see BTC credited every ten minutes and then immediately decide whether to transfer it to an exchange or a hardware wallet. After witnessing some big institutions in this industry going bankrupt, I believe you will also appreciate the feeling of having the money truly in hand.
3. Automatic Withdrawal/Conversion Feature for Timely Asset Stability
We’ve already discussed the importance of timely receipt of mining earnings. With ViaBTC’s Auto Withdrawal & Conversion functions, you can avoid asset loss caused by manual withdrawal errors and bypass exchanges to promptly convert BTC into more stable USDT pegged to the US dollar. Does this mean that almost all obstacles on your mining path are eliminated?
When you enable the Auto Withdrawal function, whenever the mining earnings exceed your set minimum payment amount, the system will automatically withdraw the earnings to your preset address every day. It is worth mentioning that if you register as a CoinEx exchange user and set automatic withdrawal to your CoinEx account, you can also waive the withdrawal fee.
As for the Auto Conversion function, ViaBTC supports the Auto Conversion of more than ten cryptocurrencies, including BTC, BCH, LTC, and KAS, into BTC or USDT. Simply turn on the Auto Conversion switch in the settings interface and select BTC or USDT for conversion, and your mining assets will be automatically converted into the selected coin.
4. Multiple Hashrate Alert Options
This is not a unique feature of ViaBTC; many other mining pools also provide alert services. However, there are not many mining pools that support three different alert methods. I understand that some people do not like to frequently open the mining pool app or may even block its notifications to avoid being disturbed in their daily lives; I am one of those people.
In addition to regular app alerts and email alerts, ViaBTC also supports Telegram alert settings. After a simple setup, you can receive mining hashrate fluctuation alerts via Telegram. This is very friendly for people who frequently use Telegram for chatting and do not want to enable notifications for the mining pool app separately.
5. Revenue Sharing Tool, More Convenient Payment Options
Not everyone has an ideal mining environment. After experiencing the huge noise generated by the operation of mining rigs, I believe most miners would not choose to place the mining rigs at home. Hosting mining rigs in a mining farm is a popular solution. Mining farms typically have lower electricity costs, well-developed cooling systems, and professional maintenance personnel, and miners only need to pay a portion of the hosting fees.
Some miners prefer a more convenient way to pay for hosting fees, such as directly paying part of the BTC mined daily to the mining farm, eliminating the need for separate settlement of hosting fees. From my experience, many miners have this need. I recommend using ViaBTC’s Revenue Sharing tool. The revenue splitting function is transparent and automatically pays out, allowing miners to distribute their mining revenue proportionally to the mining farm manager. Of course, this is just one of the use cases for the Revenue Sharing tool.
6. Referral Commissions: An Extra Source of Income
The main source of income for mining pools is the fees charged to each miner, which many people know. So, if there is a mining pool that allows you to get a part of the fees it earns as an extra subsidy, what would you do? My answer is, to give it a try.
ViaBTC’s referral commission feature allows ordinary users to earn 10% of the mining fees charged to new friends they invite to join ViaBTC as referral income. There is no limit to the number of referrals, and the more referred people and hashrate, the higher your referral rewards. If you qualify to become a ViaBTC Ambassador, the commission rate can increase from 10% to 20%.
The above represents only my personal views. If you experience the ViaBTC Pool yourself, you will find many other features I haven’t mentioned, such as the built-in BTC Transaction Accelerator, Hedging Service, and Crypto Loans functions.
If you are interested in ViaBTC Pool, you can visit their 「official website」 for more details or browse their 「blog section」 for the latest updates.
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