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The giant cryptocurrency exchange Binance has created a special pool to mine Ethereum (ETH). Having established its own mining pool, Binance has invited cryptocurrency users to join this pool. What is the use of this pool where people can join the first month without paying fees and how to mine Ethereum with Binance?
In a tweet shared today, Binance announced that the Ethereum (ETH) mining pool opened on November 12. Binance users will be able to mine this pool without paying any fees until December 12th. After this date, a 0.5% fee will be deducted.
An overview of the mining pool
Binance, the largest cryptocurrency exchange in the world, continues to grow its ecosystem with Ethereum mining. According to the statements made by the exchange, NVIDIA or AMD hardware with at least 4G memory will be used as a video card in the mining pool.
Windows and Linux operating systems will be used in this pool for Ethereum mining. 5GB of virtual memory (e.g. 30GB of memory for 6 graphics cards) will be allocated for each graphics card. Names like HiveOS, MinerOs, Easy Miner, ASIC, NCard will be used as mining software.
Ethereum mining step by step with Binance
Miners can open a mining account for themselves by visiting Binance’s Binance Pool page. Registered users on the Binance exchange can access the Binance Pool using the options in the top right corner after logging into the site.
According to images shared by Binance, users need to create a mining account from this point on. Opening a mining account is required to access the Account Management section. Here, a username is created for the mining account and is managed by this username.
How is the mining system set up?
People who want to join the mining pool must first download mining software such as Claymore, Bminer, NBMiner, GMiner. These are software that can be downloaded from their site. There are several mining systems that users can then install:
- Hive OS: A platform where thousands of hardware can be brought together, allowing for easy mining. According to Binance, Hive OS is playing at peak efficiency.
- Miners: This Linux-based management panel allows you to control mining equipment. Software such as Claymore, Bminer, CCMiner, EWBF can be installed in the MinerOS system.
- Easy Miner: Supporting more than 90 coins, this system enables driver updates, mining pool activities, and one-click overclocking operations.
What should be done to configure the mining software?
Once you have determined which system to use, you need to open a new account. To use the device here, you need to log in with a Binance Pool account. Also, the default mining pool must be selected as the Binance Pool.
Then, you need to download the relevant mining software, find the start.bat or start.cmd file, right-click on it and select Edit. The user can modify the existing instructions in the file with the following instructions and update the file.
The user has to change his username here to his own mining name. Then the file can be output after saving. The file is reopened to start mining. Miners using Claymore software can follow the link in the image above. But Binance in addition to this:
- ethash.poolbinance.com:3333
- ethash.poolbinance.com:443
- ethash.poolbinance.com:25
- He stated that addresses like ethash.poolbinance.com:1800 can also be used.
How much money do they make from where?
After users start mining, the device will start transferring data to the mining pool. Users can then see the operating status of the device and how much money it has earned.
Miners can check the Miner Management page to see how much money they have made so far. Users can do this via the website or via the Binance Pool application.
