Bitminter Review – Bitcoin Mining Made Easy
If you are considering getting into Bitcoin mining, one crucial thing you will require is a software to run your mining hardware. A bitcoin mining software offers you an interface to manage and monitor your miner`s settings, such as fan speed, clocking speed, among others. The mining software also allows you to share your machine`s resource via the internet and receive a piece of the mining profits in return. Next, we explore Bitminter, one of the most popular mining software for mining namecoin and bitcoin.
Bitminter Mining pool went live in 2011 with the primary goal of making it easier for anyone to earn Bitcoins. The brand is owned and managed by Aesir Financial AS – a Norwegian-Based Company. It is one of the longest-running bitcoin mining pools and has probably the most reliable services out there. According to information shared by the company, it has a customer base of 450,000 and counting.
Bitminer commenced as an idea to create a bitcoin mining client with a user-friendly interface. The goal was to offer a great alternative to the mining software of that era that utilized a command-line interface which most people were not familiar with. Geir Hansen, Bitminters creator, began to fix this before deciding to build a complete mining tool.
Today, Bitminter is a fully-fledged mining pool. Its official website is professional and easy to navigate. Bitminter is all about making Bitcoin mining easy and winning high payouts for its investors. It is the best option if you are looking for a time-tested, easy to use Bitcoin mining software.
Bitminter Reward System
Bitminter bitcoin mining pool uses a scoring system to split payout. The mining shifts are categorizes into 10 categories. A new shift begins when 1/10 of the current mining difficulty is overcome, or a new block is found. The payments are based on one terrahash proportion. The best thing about Bitminter is that thank to its long-history in the industry, it has attracted a healthy team of seasoned miners.
The platform allows you to mine both namecoin and bitcoin and have your earnings wired directly to your address. The minimum payout limit for bitcoin mining is highly favourable at 0.01 bitcoin. You can opt to have the amount paid to your wallet automatically everytime you achieve the minimum payout. Miners with significant hashing power can request manual payout for amounts below the minimum automatic payout.
The most important difference between bitminter and other bitcoin mining pool is that you can simply create an account using your bitcoin address or email and password. You have to share more details such as your gmail account, open ID and many more account. Social media account such as Twitter, Instagram and Facebook are not currently supported. Asking for more personal information than is the norm in the bitcoin world could possibly turn away people who aren’t open to sharing their personal data with Pool owners.
Easy to Use GUI
Bitminter`s uses artificial intelligence to anticipate what traders might need. This reduces the time you would spend looking for different features and functionalities. Its client has an extremely clear graphical interface and can work with GPUs. Finding what you are looking for is easy and fast.
Supports Variety of Hardware
Bitminter mining pool is compatible with a variety of hardware, such as ASIC chips and graphics cards. It works well with external ASIC devices like Chili, Butterfly Labs (but not monarch), Block Erupter USB (among other Icarus-compatible), Antminer U1/U2, and Red/Blue Fury.
Bitminter Client is available for operating systems like Linux, Windows, and Mac OS X. It is based on the Java Network Launch Protocol and does not need installation. The program has an easy to use User Interface and is also easy to understand. To start, you will sign up to the mining pool on the website, configure your ASIC hardware, and you are set to go.
Once you enter Bitminters website, you will notice its simplicity. It is less flashy compared to other mining pools. Although the website appears simple, it does include up-to-date live statistics concerning rewards, luck, shifts, as well as a website service API. Work is recorded in shifts, and 99 percent of all the mining income is paid out to customers. A scoring system will be used to determine the pool`s payout. The shifts are usually divided into groups of 10. A new shift begins when 1/10 of a block is completed or a new block is won.
Creating an Account
Bitminters software is designed for use with only Bitminters mining pool. This implies that you can only create an account through the website. It is also good that you are comfortable with the location of its servers, which are Canada, US, and Europe, because the distance from the server may interfere with its extraction efficiency.
To open a Bitminter account, you need to fill the pool sign-up form on the website. At Bitminter, you can`t just register with your bitcoin wallet or email address/password. Instead, Bitminter allows you to sign up using Gmail, open id, and a wide range of other accounts. Social media accounts, like Twitter and Facebook, are not included. This may be bad news for people who don`t wish to share such information with pool owners.
Once you register, you will be provided with a dashboard where you can begin setting things up. Bitminter Mining Pool was initially designed to run a mining client for GPU`s and CPU`s, although these have been rendered useless by ASICs. The software has several ways of monitoring your client, including a mix of information and in-screen and popout options.
The pool has a simple dial on the left that displays hashrate in MH/s. To begin mining, click on `Engine Start.’ You can monitor progress at any time by checking the `Stats’ section which provides vital information like time spent working, and the number of proofs of work rejected/accepted by any server. You can also reset these values whenever you feel like. Bitminter client also contains a text console at the bottom of the window. This text console provides a user with updates, including when a device is connected or when a device successfully connects to a mining pool.
Security and Fees
Bitminter lacks two-factor authentication security method. Bitminter mining pool has a 1% fee. However, it has optional perks that you can have by raising your donations, which include your account getting credited even before the block has been confirmed.
Bitminter is actively maintained. The website has a customer support page where you can contact the owners if you have any issue or want to ask a question. You may decide to email the support, and they will get back to you after a few hours. Otherwise, you can choose to use Live Chat and get instant help. The customer support is friendly and strives to offer the best assistance possible to investors.
Bitminter prioritizes achieving the highest return from mining on the cryptocurrency exchange markets. The brand has already mined over 200,000 bitcoins. Bitminter seems to have slowed down a bit compared to ther new brands, but the pool is still finding a block. If you are regularly mining, Bitminter can pay out quite well compared to others..
Is this your final decision?
We suggest you visit one of the most popular trading platforms instead!
- Informative and approachable website
- Easy and intuitive UI
- Preinstalled pool settings
- Cross-platform (Java)
- Only compatible with Bitminter pool
- Little writing activity on site
7 Binary Options review: Bitminter: 3.5 stars