Free Ethereum Mining – All You Need To Know

Free Ethereum Mining – All You Need To Know

If you’re looking to mine ethereum for free, there are some considerations to take before you start.

Yes, it is possible to mine ethereum for free.

However, it requires initial costs that are involved in every crypto mining.

We assume that if you got here you already know the basics:

Mining cryptocurrency involves purchasing equipment before you start to mine.

Therefore, the question of free ethereum mining – optional or not, should consider the mining equipment’s initial costs.

The 3 things you need to have before you can mine Ethereum:

  1. Ethereum mining hardware – to reduce your electricity costs.

       2. Ethereum mining software – You need this to point the hardware to your selected ethereum mining pool.

       3. Etherum wallet – You’ll need a wallet to receive the payouts: A secure place to restore it.

Once you are settled with the above, it is time to decide which Ethereum mining pool to choose.

Why do you need an Ethereum mining pool?

Since Mining on your own has become very difficult and expensive, a mining pool allows you to share your resources with other miners.

The rewards for solving blocks will be paid out according to how much processing power someone contributed to the pool.

Using the mining pool increases the chance of returns, and of getting consistent payouts.

Free Ethereum mining – is it possible?

In most cases, using a mining pool involves a small fee and is not completely free.

There are however some free ethereum mining pools that are not charging a commission.

Basically, you should expect mining pools fees of anywhere between  1% – 4%. 

Mining pools are expensive to maintain, and although some mining pools do not require any fees most of them do.

Top Ethereum mining pools:

There are many Ethereum mining pools, some more known and established thus less risky than others.

These are the most popular and active Ethereum mining pools as of today, according to poolwatch.io:

free ethereum mining pools

According to this list, 6 of the most popular Ethereum Mining Pools among miners are:

Sparkpool

According to Poolwatch.io, Sparkpool tops the list of mining pools: 

It mines approx. 30% of total Ethereum mining.

The Sparkpool team has years of experience in the blockchain industry, and they offer many ways to contact them in most areas of the world

Using the pool is very easy, and mining anonymously is an option. 

Pros:

  • A direct deposit of the profits in the user’s personal wallets.
  • It runs with a 6% profit since it is the largest mining pool on the Ethereum blockchain.
  • It offers self-holding private keys where different coins need to configure different mining addresses: therefore allowing everyday rewards to be delivered to the user’s address directly.
  • It provides a seamless mining experience, and a dashboard that clearly displays real-time hash rate, miner, and rewards. 
  • Worldwide Nodes
  • 24/7 experts customers service and professional guidance.

Ethermine

Ethermine is one of the oldest, highest-performing as well as the most established Ethereum mining pools.

It is run by the same administrator as Ethpool.

Pros:

  • Instant payments
  • A simple and easy to use interface.
  • It offers a PPLNS payout scheme (Pay Per Last (luck) N Shares) 
  • Anonymous mining
  • Accurate hash rate reporting
  • Low (1%) fee
  • Mining servers in Europe, Asia, and the USA
  • Detailed global and per worker statistics
  • Third-party IOS, Android, and Telegram Apps available.

F2pool

F2pool has been founded in 2013, which means that they are amongst the earliest mining pools.

As stated on their website, it is one of the global leaders in the mining industry.

F2pool is the most well-funded, as well as one of the largest Ethereum mining pools, according to their website.

F2pool has a team of dedicated developers, which makes their mining software very efficient and high quality.

Pros:

  • They have a transparent reporting mechanism
  • Their advanced technology prevents DDoS attacks.
  • Supporting more than 40 digital currencies
  • The world’s largest mining pool for BTC, LTC, ETH and ZEC
  • IOS and Android Apps available

SpiderPool

SpiderPool is a China-based mining platform with 5 years of experience in the cryptocurrency industry.  mining pool. It has large stable partners includes Huobi Global, Coldlar, Node Capital, Miner OS, XFX, and others. It’s especially aimed at English and Mandarin-speaking miners. 

Pros:

  • It has a nice mobile app that enables users to monitor performance, IOS and Android
  • Good customers service 24/7
  • Easy guides and step by step instructions.
  • A large diversity of assets to mine, including the most popular coins.
  • Recognized for its security and quick payments

Nanopool

Nanopool is the 3rd largest Ethereum mining pool.  

It has a 13.5% hash rate for Ethereum:

Very straight forward and easy to use. There is a detailed step by step connection guide and a wide knowledge base.

Creating an account is very simple, and actually, you can start mining immediately even without creating an account.

Nanopool charges a 1% fee and 2% for Pascal

It is nicehash compatible and apps in both iOS and Android.

Pros:

  • World-wide mining pool
  • Regular payouts
  • Nicehash compatible
  • Friendly support
  • Optimized infrastructure
  • Email notifications
  • Adjustable payout limit
  • 3rd party apps: iOS/Android

Hiveon Pool

Hiveon pool describes itself as “the most profitable and efficient mining pool”.

Their servers in North America, Europe, Asia, Russia.

The users receive guaranteed high-profit payouts with their PPS+ payout model.

Payments are made for every valid share sent to the pool, and the joining date on Hiveon is immaterial.

This effectively means that users will still get rewards for the valid shares that they submit whether they joined the same day or two weeks back.

They have a low minimum payout threshold of 0.1 ETH, so the user does not have to wait too long between payouts. 

Pros:

  •  PPS+ payout model. 
  • High protection and security.
  • The min. payout threshold is  0.1 ETH
  • No commission
  • Mining is simple and straightforward 
  • Referrals and discount plans available

To conclude:

Free ethereum mining is possible.

It requires initial expenses of hardware, software, and a wallet, and finding a mining pool that does not charge any fees.

We recommend choosing a mining pool by its reputation and reviews and after thorough checking, and not base your decision only on free fees and commissions.

 

 

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