Even after over 13 years of non-stop mining, about 1.7 million bitcoin remain unmined. Reports suggest that the last of the BTC will be mined over 120 years from. Mining bitcoin is an activity attracting massive traction across the crypto landscape.
However, the complexities led many to contribute their hashrates to various mining pools to increase their chances of finding blocks. One of the most popular mining pools used today is ANTPOOL.
What Is ANTPOOL?
ANTPOOL is a mining solution launched sometime in 2014 by BITMAIN. It’s one of the leading mining pools nowadays in the crypto mining industry.
Essentially, ANTPOOL’s development was to offer solutions all over the globe; having set up in Singapore, this network has global servers in Europe, Asia, North America and beyond.
The functioning of the mining pool is simple. It helps manage miners who choose to pool their hashing power to one goal, finding a new block.
The network gives each miner a task to function appropriately, monitors the miners, logs in necessary data, and distributes rewards. Since its inception, Antpool has done an excellent job in the mining scene.
What Features Come with ANTPOOL?
To offer its complete services, ANTPOOL miner combines different tools and features to streamline its work. The features include;
The ANTPOOL App
The ANTPOOL network comprises an app specially designed to offer the network’s services. This application is available both on Android and IOS devices. In this mobile-based app, investors can track their mining and investments. The ANTPOOL app system comes with many software solutions within the mining ecosystem. The solutions include the following;
The AntProxy Windows V2.1.1 is a simple tool for fostering low communication efficiency solutions. Essentially, AntProxy is designed to ensure the stability of connections while solving bandwidth.
The network notes that AltProxy was created for big mining farms requiring massive hash rates. As such, this can provide a simpler alternative to the mining processes.
The second main feature of the ANTPOOL app is Antsentry. Antsentry is an efficient and straightforward autonomous management tool designed specifically for mining farms. It’s a tool designed to help mining farms by offering autonomous management protocols.
According to ANTPOOL, Antsentry currently manages over 10EH/S of BTC’s hashrate. It also offers support for a full range of Ant Family miners.
ANTPOOL Coin List
ANTPOOl’s coin list: Source: ANTPOOL
In its mission to offer services to investors, ANTPOOL provides options for mining dozens of crypto, including the ones shown above. Among the coins available for mining in this pool include;
- Bitcoin — The top coin mined via the ANTPOOL network is Bitcoin, with a pool hashrate of 58.9 EH/s. The pool’s daily revenue is $0.0670/T, but each miner earns a minimum of $0.005 BTC as at March. 3, 2023.
- Bitcoin Cash — The Bitcoin fork BCHis another one available for mining in Antpool. The pool’s hash rate is 52.7 PH/s, with the network hashrate at 1.98 EH/s. According to ANTPOOL data, the pool’s daily revenue is $0.0663, with the minimum payment per miner hitting 0.01 BCH as at March. 3 2023.
- Litecoin — The third popular coin mined via ANTPOOL is Litecoin. ANTPOOL’s LTC pool has a hashrate of 104TH/s. According to the network for LTC, the daily pool revenue is $0.0024, with the minimum payment per miner standing at 0.001 LTC. This data was collected in March. 3 2023.
- Ethereum Classic — ETCis also available for mining via ANTPOOL, with a hashrate hitting about 3.29H/s and the daily pool income standing at $0.0027/m. However, ANTPOOL notes that each miner earns a minimum of 0.2 ETC as of March. 3, 2023.
Of course, the highest profiting of the coins listed above is Bitcoin, considering its high value compared to the others. However, ANTPOOL offers other coins besides the aforementioned, including Dash, Zcash, Handshake, Ethereum POW, Decred, Kadena, Digibyte, Nervos, Decred Next, and Ravecoin.
Setting Up, Using, and Withdrawing at ANTPOOL
As you look into ANTPOOL, you want to know how to set up and use this network in your daily activities. To set up and start mining, you must sign up via the website and follow all the set registration procedures.
After following the steps within the network, you will get an email for verification. Clicking the link in the email verifies your account. Afterward, you can create an ID and password and now deposit some coins for mining to commence.
To provide an effortless experience for users, the pools have suitable payout methods for average users. Payments are made daily between 08:00 and 16:00 UTC.
As mentioned already, the minimum payout per miner depends on the currency. According to reports, initially, ANTPOOL had a minimum payout of about 0.001 BTC. However, they increased the value to 0.005 BTC to bring more satisfaction to the average investor.
Benefits and Drawbacks of ANTPOOL
As a network with a defined system focusing on mining crypto assets, ANTPOOL has several pros and cons. The benefits include the following;
- Straightforward management.
- Transparent earnings.
- Stable service provision.
- It brings a user-friendly interface that bolsters the user experience.
- ANTPOOL also brings with it some robust security for the mining investors.
- Partners with top networks, including BITMAIN.
- Low transaction charges.
Since the benefits also come with a few drawbacks. One major drawback is that the network does not display the transaction fees before transactions. Moreover, network users are only allowed to make a single daily payment.
This guide has been looking into ANTPOOL, a BITMAIN network product designed to help miners pool hash rates. This mining pool is one of the largest.
The features provided via the ANTPOOL app, including Antsentry and Antproxy, set it aside compared to others offering similar services. The network’s extensive coin list for mining provides room for people with differing needs to participate.