KuCoin Pool is the latest innovation from the well-known exchange. With mining fees of only 2%, KuCoin made miners a priority with this new product.
KuCoin is a cryptocurrency exchange known for its user-friendly and intuitive platform. KuCoin Pool has adopted this to create a one-stop shop for global miners.
The product aims to build the largest proof of work (PoW) mining pool, while simultaneously contributing to the ecological security of multiple public chains.
The 2% fee is indicative of the commitment KuCoin Pool has to the global mining community.
KuCoin Pool is dedicated to serving miners by offering PoW and pool connection, the platform will generate stable and consistent earnings.
Currently, the connection of bitcoin (BTC) and bitcoin cash (BCH) hashrates is supported. Miners can combine their mining rigs with KuCoin Pool and start earning consistently.
An overview of KuCoin Pool’s roadmap
As mining is an imperative part of the blockchain industry, KuCoin developed its own mining pool.
Mining serves as an underlying infrastructure, especially with the rise of the PoW consensus algorithm, explained the Global Commercial Director of KuCoin Pool in an AMA.
KuCoin has plans to expand into Europe, Central Asia, and North America to set up high-quality service pools that offer low mining fees.
There are also plans to create a one-stop and in-depth financial services platform. This will be done by integrating the upstream and downstream services, including mining rigs, pools, trading, wealth management, and so on.
Currently, KuCoin Pool only supports BTC, BCH mining. From September 9, 2021 ethereum (ETH) mining will become available.
KuCoin Pool plans to offer two services: PoW mining services and value-added asset services for miners.
The PoW mining service launched in the first phase of KuCoin Pool has supported cryptos, including BTC and BCH.
Other plans in the pipeline include mining services for distributed storage projects.
In the future, it will also support innovative projects with a strong community foundation and hashrate such as DGB, HNS, and so on.
Core advantages of KuCoin Pool
KuCoin has put miners in front of mind with the namesake mining pool.
- KuCoin Pool charges only a 2% mining fee, ultimately cutting miners’ costs hugely, helping them to generate more profit.
- FPPS mining algorithm, stable lucky value. The mining algorithm has been optimized to generate a higher mining efficiency of faster block production and higher mining rewards based on the same hashrate input.
- There are ample mining services available, such as one-on-one support to address inquiries. The user-friendly design of KuCoin Pool ties in with the ease and efficacy of KuCoin itself, which enhances the entire mining process itself.
- Miners are also able to access comprehensive mining data to check their profits.
KuCoin Pool’s consciousness
KuCoin Pool is the first mining pool to encourage miners to use renewable energy sources.
On its official launch, KuCoin Pool initiated a campaign called “Support Carbon Neutrality, Enjoy Green Mining Bonus”. This encourages miners to utilize clean energy for hashrate mining.
KuCoin Pool miners that use clean energy sources for mining can submit the relevant information for certification, earning themselves a 50% discount on mining fees.
KuCoin Pool has created a detailed tutorial of BTC hashrate connecting. Essentially the steps entail the following:
- Log in to the KuCoin Pool official website and create a mining account.
- Register an account
- Log in to the official website of KuCoin Pool using your KuCoin account, or click the navigation bar, click [Finance] – [Mining Pool] to enter the page.
- Click “Connect to Pool ” to create a mining account.
- Carry out equipment preparation and inspection before mining and ensure that the mining rigs and the computers are connected to the same network.
- Prepare the following equipment: power supply, power cord, mining rigs, network cable, and a computer.
- Visit the tutorial here for the recommended state and temperature of mining rigs.
- Configure mining configuration and connect to the mining pool. To ensure the successful completion of the configuration, visit the tutorial page here.
- View and confirm the real-time mining status of the miner. After the mining machine is set up, it will run in tens of seconds. Users can check the mining status of the mining machine in two steps:
- Enter the “Miner Status” page to view hashrate and running time.
- Enter the KuCoin Pool official website, click “Dashboard”, and enter “Mining Machines” to view data such as hashrate and number of mining machines. This step is very important to avoid filling in the mining account and mining address incorrectly, etc., which may cause a loss of revenue.
- Enter the KuCoin Pool to view the mining revenue.