What Is Binance Pool And How To Set Up?

What is Binance Pool?

Binance Pool is a professional mining service platform launched by the world's leading Binance exchange.

Binance mining Pool can integrate the hashrate resources of multiple miners for joint mining, thereby increasing the chance of successfully mining blocks and distributing rewards to all participants in proportion. It allows miners to mine a variety of mainstream cryptocurrencies such as BTC, LTC, ETC, KAS, and provides efficient, stable, and transparent mining solutions. Its biggest advantage is that it is deeply integrated with the Binance exchange. Miners can directly deposit their earnings into their Binance accounts and enjoy convenient trading and financial services.

How to set up Binance Pool?

1. Register a Binance account

Type "Binance" in the Google browser search box, enter the account management interface, and click "Create a Binance Account" to register.

2. Create a mining account

On the Binance website, find "More" and select the "Mining Pool" section. After entering, find "Mining Dashboard" on the right side of the homepage, enter, and click "Create Mining Account". On the next page, enter the mining account name and select the miner to be used. Click "Create". After completion, the webpage will provide a guide on how to connect the miner to the Binance mining pool, just follow the instructions.

3. Mining configuration settings

a. Mining pool URL configuration

For example, we are going to mine Bitcoin. Click the BTC column on the Binance mining pool homepage to see the mining address. We can configure the Bitcoin mining pool according to the URL in the figure.

b. Create a Binance wallet

The wallet can be found in "More" on the Binance official website homepage. Click "Binance Wallet" to create it.

c. Configure worker name and password

Create a miner name in the format of "mining account. miner name", with a combination of numbers or letters, such as "MineBTC.002". Then set a password we can remember.

d. Find the miner IP and set it up

Connect the miner to the network, and turn on the power. Please wait for it to start. Use the APminer tool to find the miner's IP address.

Open Google Chrome, enter the found IP address in the address bar, and log in with the username and password of the miner. Fill in the above mining pool address, miner name, password, wallet address, and other information on the configuration page. For specific operations, please refer to the miner manual.

4. Check the hash rate and view income

a. After the miner starts running for a period of time, we can select "Workers" on the mining pool homepage to view the active hash rate.

b. After the mining pool settlement is completed, the mining income will be credited to the Binance Funding wallet. We can view the daily profit record on the Binance mining pool "Earnings" or "Wallet" page. If we want to transfer funds from other wallets to Binance, we can refer to the tutorial on transferring USDT from OKX wallet to Binance.

Using a Binance Pool is a convenient way to participate in cryptocurrency mining, where Binance handles the mining process and we receive a share of the rewards. It's like a collective treasure hunt, and all participants can share the spoils.

FAQ

Q: Is it profitable to mine Bitcoin in Binance Pool?

A: Binance Pool combines cloud mining with its massive trading platform, offering Bitcoin contracts with an average daily return of 2-3%.

Q: Is it safe and trustworthy to trade on Binance?

A: Binance is generally considered one of the safest exchanges in the world, with high security.

Q: How to mine for free on Binance?

A: Select "Mining Account" and create a miner ID. Once the miner starts working, submit a share to Binance Pool. With the continuous operation of the miner, Binance Pool will deposit BTC directly into the account according to the FPPS system.

Q: What is Binance used for?

A: Binance is mainly used as a cryptocurrency trading platform. It allows users to buy, sell, and trade various cryptocurrencies, and also provides margin trading, futures contracts, and peer-to-peer trading. Additionally, it offers a platform for listing new cryptocurrencies.

Disclaimer:

This article is for informational purposes only; please refer to other official sources for more details. This website is not responsible for any losses caused by any actions taken by readers based on this article and reserves the right to final interpretation.