Mining is a way to get cryptocurrency without purchasing your coins and even without trading them. While you still need to invest in, say, Ravencoin mining, these investments will pay off if you do everything correctly.
What can you do correctly though? You can choose the right mining equipment and join the right mining pool.
Specifics of Ravencoin Mining
First of all, what do you know about mining? Well, everybody has heard that ASIC miners are the most efficient and therefore, if you invest in an ASIC miner, you, most likely, will be getting more profit from mining.
This is not the case with Ravencoin mining though. The thing is in the KawPow consensus algorithm Ravencoin utilizes. In short, without plunging in details, the KawPow algorithm makes the coin ASIC-resistant. It cannot be mined with ASIC miners. This is not the only coin though that cannot be created by traditional mining means but once more, this is a completely different story. We are going to return to Ravencoin.
As you have already understood, ASIC mining will not bring any profit here. So, you’d have to invest in GPU hardware and join a mining pool.
How to Choose the Best Pool to Mine Coins
Here, you need to rely on common pool features such as:
- Fees: the fee might vary from 0 to 3%, so, it is an important point to pay attention to.
- Minimum payout: the less the better is the main principle. But if you believe you are going to earn a lot from your mining activities, this feature might be not crucial for you.
- Reputation: it shall be impeccable, no options here.
- Uptime: the pool shall work. If you see that it is down more than up, you won’t earn anything there.
The Best Pools for Ravencoin Mining
Now, you might be overwhelmed about how to choose the best pools indeed. We have helped you a little bit. Here, we have compared the available mining pools and have chosen the best ones for you. And in case you want to check other coins like here, https://letsexchange.io/custom/compare/kcs/amp/info/, you are free to browse the LetsExchange.io website.
This pool is among the most popular ones, and for a reason. It is known for being safe, fair, and completely transparent. The fee ranges from just 1% to 1.5% which is more than reasonable. And 14,000 miners along with 34,000 workers provide the safest and healthiest environment for you.
FlyPool is among those easy to use pools that are the best for beginners. It boasts a wonderful community. The hashrate of FlyPool is 2 TH/s, and the payouts are available instantly.
This is one more pool with a good reputation. It is smaller than others, and the hashrate is just 618 GH/s. But still, it deserves your attention due to its convenient payout limits, transparency, safety and convenience.
Its intuitive interface, speed, ease of use, and the top safety level make this pool popular and used. The hashrate is just 278 GH/s, and the minimum payout is 100 RVN which might be not the best option for beginners though or for those who are looking for fast payouts.
The servers of Miningpoolhub are located all around the world which makes it accessible to multiple miners from practically any country. This pool is not the best option for beginners because its setting up might be challenging – you would need a special guide to set up the mining.
The hashrate is just 267 GH/s which is lower than by those pools mentioned before. However, once you manage to set it up, you can enjoy a flawless and straightforward mining process. All the data on your activities is displayed in real-time mode.