The Complete Guide to Mining Ravencoin

Ravencoin is quite an unusual cryptocurrency. It is also a pretty ambitious project. It enables its users to create their own tokens on the Ravencoin blockchain. These tokens can be controlled by their creators by establishing the maximum supply, and other parameters.

The Ravencoin network is 100% decentralized. It is managed by its users and powered by its extensive and dedicated community. So, if you consider investing in crypto long term or short term, you can consider Ravencoin. 

Ravencoin Mining

Ravencoin mining is another aspect of the project worth your attention. The network has already upgraded its mining algorithm three times. Now, the current valid algorithm is called KawPow. It is the final one for now. 

You might be wondering why such frequent upgrades were needed. The thing is that the project aims to keep mining affordable to anybody. It means that mining Ravencoin shall be available with GPU and CPU. Every time when ASICs were manufactured able to mine RVN, the network has been upgrading the mining algorithm.

There is no guarantee that ASICs able to mine the coin won’t be developed in the future. But for now, mining the crypto is not available with ASICs.

Mine in a Pool

Even though the network aims to be as affordable as possible, mining in a good pool is still incomparably more profitable than mining individually. So, if you want to earn from your mining efforts, join a pool.

How to Choose a Pool to Mine

Choosing a pool is an important decision. So, do it based on the following criteria:

• Fees: the lower fees the selected pool charges the better it is for you.
• Minimum payout: the less money you can withdraw, the more convenient it is. Also check the periods between two withdrawals – they shall not be excessively long.
• Reputation: impeccable reputation is a must for a service that deals with money.
• Pool uptime: if the pool is 100% uptime, it mines all the time. Thus, your chances to earn something are much higher.

The Best Ravencoin Mining Pools

It might be too demanding to look for, compare, and choose the best pools. So, we have done it for you. Here is the list, you can choose the option that suits you in the most optimal way.

2Miners

It is one of the most reputable mining pools, and there, you can also mine RVN. The fee is from 1 to 1.5% which is pretty ok. The luck factor is around 10% which is high indeed.

More than 14,000 miners mine there which is an indicator that you can rely on the service.

FlyPool

It is a pool known for being easy to use. Its intuitive interface and extensive functionality have made the pool known and popular among miners. The fee is just 1%. The platform is used by more than 10,000 miners which is very good. The pool servers are located globally making it available for miners from all over the world. 

Nanopool

While this minerpool is smaller than the two mentioned previously, it is great. The fees are low, and you can set up many parameters manually. Its servers are located in Europe only. It makes the service not available for non-European miners.