Last Updated on November 20, 2021 by cryptocreed
Binance is almost used by every crypto trader to make trading, staking, & now mining cryptocurrency. Binance is one of the largest cryptocurrency exchanges in the world. The worthiness of Binance can be known from this that the coin which gets listed on Binance gets a huge pump.
Not everyone knows about Binance Pool, if you are a miner and looking for the best mining pool then I would suggest going with Binance as you can save a transaction fee, and while joining with our Binance Pool Referral code you can save trading fee as well.
Why Use Binance Pool?
The main reason to use the Binance pool is that you can save your transaction fees, most of the mining pool offers you only coin mining but with Binance you can exchange your coin & withdraw to the bank as well.
Suppose you are using a 2miners pool and mined 1 Bitcoin than to withdraw that 1 Bitcoin to the bank you need to use exchange platforms like Binance and when you send 1 BTC from 2miners to exchange it will cost you some transaction fee and then some trading fee but with Binance you can save both of this fee.
In Binance Pool you get an exchange inside and for saving the trading fee you can join using the following code (KJC9IB1A) to save up to 40% of the trading fee.
What Is Binance Smart Pool?
Binance Smart Pool is a new feature added in Binance Pool. With Binance Smart Pool, miners can automatically choose profitable coins to mine.
If you enabled the Smart Pool feature then Binance will auto switch hash rate to mine different cryptocurrencies with the same algorithm. So you can mine profitable coins always.
As of writing, it supports only BTC, BCH, and BSV in Smart Pool.
Mining Pool Addresses
| Coin |
Mining Stratum URL
|
Minimum Payment |
Pool Fee
|
Merged Mining
|
|
BTC
|
stratum+tcp://bs.poolbinance.com:3333
stratum+tcp://sha256.poolbinance.com:8888
stratum+tcp://sha256.poolbinance..com:1800
|
None | FPPS：2.5% | ELA |
|
ETH
|
stratum+tcp://ethash.poolbinance.com:8888
stratum+tcp://ethash.poolbinance.com:3333
stratum+tcp://ethash.poolbinance.com:443
|
None | PPS+: 0.5% | None |
How To Use Binance Pool?
To use Binance Pool you need to have an account on the Binance exchange first, by registering using the following link you can save 40% of the fee.
It means if you mine a coin that generated a transaction fee of $100 then you have to pay $60 as a fee. But if you join without a referral link then you have to pay the whole $100 in the fee.
After creating an account click on Finance and then Pool.
You will see the pop-up notification for creating Mining Account. “Multiple Mining Accounts allows you to mine using different algorithms from multiple locations.”
You can create up to 3K mining accounts.
Now make sure you have mining software and every other thing are set up already. if you are not sure which software is best then check the following articles.
After creating a mining account you can connect your Binance pool with your software.
Want step by step process to understand how to use binance pool? Go to the support page of binance and search for “Binance Mining Pool” you will find more than 15 articles dedicated to mining.
Payment
Payments are deposited to your mining account once earning settlement is calculated, it gets credited into the mining pool account daily at 10:00 UTC.
The distribution model is FPPS for Bitcoin & PPS+ for Ethereum.
Binance Pool Fees
Binance mining pool fees vary from 0.5% to 2.5%. For Bitcoin fee is 2.5% and for Ethereum fee is 0.5%
To save 40% of this fee you can use the following code “KJC9IB1A“.
Alternatives Of Binance Pool?
There are many alternatives that can be used instead of Binance like 2miners, flexpool, ethermine, and many more.
Under the mining category, you can find a list of the best and most active cryptocurrency mining pools and related articles.
