Top 5 Best Monero mining pools, a complete guide for 2023
Discover the top 5 Monero mining pools in 2023 for optimal earnings.
Why Using a Monero Pool?
In the world of cryptocurrency mining, where giant mining rigs and farms dominate, it's challenging for regular folks to compete. However, there's one exception to this rule: Monero. This privacy-focused cryptocurrency remains accessible for individual miners, and it's committed to staying that way. Even when faced with the threat of ASIC miners, Monero chose to fork its algorithm to maintain GPU mining accessibility.
What to select for a Monero Mining Pool
If you're interested in Monero mining, especially as a beginner, joining a Monero mining pool can be a smart move. These pools combine the mining power of multiple users, providing more regular payouts compared to solo mining. When selecting a pool, consider factors like trustworthiness, fees, server location, minimum payouts, total hashing power, and uptime.
Monero Hard Fork
Monero made headlines with a hard fork in response to the threat of ASIC miners. This fork, which happened on April 6, 2018, ensured that Monero would remain accessible for individual miners. It also enhanced Monero's privacy features, making it even more attractive for those concerned about online privacy.
Best Monero Mining Pools
To get started with Monero mining, you'll need to choose the right mining pool. Some top options include:
SupportXMR: Known for its reliability, this pool boasts high hashing power and straightforward setup.
NanoPool: A well-established pool offering support for various cryptocurrencies, including Monero. It's known for decent support and compatibility with NiceHash.
MoneroHash: One of the oldest Monero pools, it supports direct mining to exchange wallets and maintains a high uptime.
P2Pool: A decentralized mining pool combining the benefits of solo and pool mining. It's known for enhancing network security.
2Miners: Ideal for those seeking less frequent but larger payouts, 2Miners offers a unique approach to mining.
Top 5 Monero Mining Pools
Now that we've covered what to look for in a mining pool, let's take a look at some of the most reputable Monero (XMR) mining pools available. Please note that this isn't an exhaustive list, and you should always conduct your own research in the ever-changing world of cryptocurrencies.
Consistently ranks among the top 3 Monero mining pools, boasting over 6,000 active miners. With a hash rate of 350 megahashes per second, it offers regular payouts. While the minimum payout is relatively high at 0.1 XMR per transaction, the 0.6% mining fee is reasonable. SupportXMR is beginner-friendly and even provides a chat server for miners to connect and seek assistance.
As one of the earliest and most established Monero mining pools, NanoPool supports various cryptocurrencies, not just Monero. With a hash rate of 323 megahashes per second and around 3,000 miners, it's a solid choice. NanoPool sets a minimum payout of 1 XMR, making it suitable for long-term miners. Expect a 1% mining fee. It also offers good support and compatibility with NiceHash.
Operating since October 2014, MoneroHash is one of the oldest Monero pools. It has a higher mining fee at 1.6%, but it allows you to mine directly to an exchange wallet, bypassing transaction fees. With a minimum payout of 0.5 XMR, this pool suits long-term miners, particularly those with less powerful rigs. MoneroHash boasts a hash rate of 4.32 MH/s and an impressive uptime of 99.92% in the past month.
When MineXMR, a large Monero mining pool, shut down in August 2022, concerns about a possible 51% attack arose due to its substantial hashrate share. To maintain network security, MineXMR miners transitioned to P2Pool. P2Pool combines the benefits of pool and solo mining, offering frequent payouts while decentralizing the pool. It's beginner-friendly, with video guides and support. Despite its simple website, P2Pool has a hashrate of 170 megahashes per second, and a minimal 0.0003 XMR minimum payout with a 0% fee.
For those seeking less frequent but larger payouts, 2Miners is an option. It has a minimum payout requirement of 0.01 XMR and a total hash rate of 58 megahashes per second contributed by 3,144 miners. The "luck" percentage statistic might appeal to gamblers.
Best Monero Wallets
To store your hard-earned Monero, you'll need a secure wallet. Consider options like Ledger Nano X, Trezor Model T, Guarda Wallet, Official Monero Desktop GUI, MyMonero, Monerujo, and Exodus Mobile Wallet.
In conclusion, Monero GPU mining is still a viable option for individual miners, thanks to its community-driven commitment to accessibility. When selecting a mining pool, carefully assess various factors to optimize your mining experience. Happy hashing!