Secure cryptocurrency mining pools are the holy grail of the crypto mining industry. When I first started mining in the 2010s, crypto mining pools were a distant reality. Yes, the internet tells you the first mining pool came out in 2010, but mainstream usage wasn't common until around 2013. Now, with the mining pool explosion, cryptocurrency miners are spoilt for choice and can handpick a pool they prefer most.
I recently stumbled across PEGA Pool. Perhaps the most recent entrant in the mining pool industry, PEGA Pool, was launched during the first quarter of 2023. In my experience, PEGA Pool comes with a smooth interface and a competitive earning model.
However, there is more to the mining pool beyond its earning model: PEGA Pool follows an eco-friendly BTC mining model. As much as I enjoy earning from BTC mining, I am also a bit concerned about the carbon footprint it leaves and the sustainability issues it brings. PEGA Pool puts these concerns to rest with an eco-friendly model where they plant trees to offset the damage done through its carbon footprint. However, the pool only supports Bitcoin mining at the time of writing.
What is PEGA Pool?
As mentioned above, PEGA Pool is a new player in crypto mining. While the team behind the pool comprises industry experts and talented engineers, the platform saw the light of day in 2023. PEGA Mining was first set up in 2021, and the beta version of the pool came out in 2022. The team behind PEGA Pool includes seasoned experts, with the mantra of ‘a pool built by miners for miners’ at its core.
All executives have the skills and experience to lead the world’s 13th largest mining pool, which was one reason I decided to use the platform. PEGA Pool is proud of its green mining model. In fact, their green mining policy is the first thing mentioned on their website.
The Concerns Regarding Bitcoin Mining
Bitcoin mining has come under discussion recently, primarily due to the high energy needed to power a single BTC transaction. With the world moving towards energy conservation, the high amount of energy used in BTC mining has led to many countries banning it and eco-friendly organizations not using BTC as a payment method anymore. In this context, PEGA Pool's eco-friendly approach is a major win for all BTC miners.
I am concerned about the environmental impact of BTC mining, and it feels good to know that the mining pool I am now part of is planting a tree for each transaction. I will discuss the eco-friendly model in greater detail later in this review.
PEGA Pool is BTC-Exclusive
That said, one potential downside of PEGA Pool is that it’s a BTC-exclusive service. Sadly, miners who come here hoping to mine other cryptocurrencies will have to look elsewhere. Since I primarily mine BTC, it works well for me and many others who only mine BTC.
In the short amount of time since it started operations, PEGA Pool has leapfrogged a few other competitors to rank 13th in the list of largest Bitcoin mining pools. The ranking is proof of the platform's authenticity and grand scale of operations — something that I noticed during my experience.
Setting Up and Getting Started
Setting up your PEGA Pool account is fairly simple. The mining pool allows you to create up to 20 accounts as a miner. From where I see it, the sign-up process is easy and does not include multiple hardware or software specifications.
Step 1: Click on Sign-Up
Once you jump over to PEGA Pool's website, you will have to click on the Sign-Up button located on the top right side of the website's home page.
Step 2: Enter Email Address
After entering the sign-up page, you must type in and confirm your email address and set a password for your account. Ensure your password is in line with the requirements at PEGA Pool.
Step 3: Set an Account Name and Confirm Email
After you pass the steps in the screenshot above, you will have to set a name for your account. Your account name should be 15 characters long and include lowercase and uppercase letters. You must also verify your email after you provide your name and details.
Once you have verified your email, the system will send you a notification for successful account creation. You can then sign in to add your mobile number and other personal details.
While I was able to sign up and log in to PEGA Pool's website easily, I have heard of some users who have faced problems logging into the account. In such cases, it is best to reboot your computer and then try different URLs to log in. You can also upgrade your device's firmware and troubleshoot network settings to see if the ISP is blocking any port numbers.
The only catch is that you need a dedicated crypto mining device to start mining on PEGA Pool. As most miners would know, online mining platforms can work with an Application-Specific Integrated Circuit Device (ASIC) or a computer with a powerful GPU.
The latter is easier for beginners because most computers come with capable in-built GPU cards. However, PEGA Pool does not support these computers and requires users to invest in an ASIC device upfront. The need for an ASIC device may worry users who don’t have one, and don’t have the budget needed to buy or build one.
Eco-Friendliness: Fact or Fiction?
One look at PEGA Pool's website, and you'll see just how much emphasis they've put on eco-friendliness and sustainability. Their interface exudes the colors of nature, and their processes are all about environmental preservation.
I noticed that PEGA Pool emphasized its eco-friendly mining processes as the core of its service model. Their vision, mission, and service model are focused on the green revolution and providing an eco-friendly routine to offset the carbon footprint of crypto mining.
Over 260,000 Trees Planted
PEGA Pool has planted a total of 260,972 trees during its first few months in operation. This step has a yearly offset of 6,950 tons of carbon dioxide. The stats can be verified through Ecologi.com, which is a trusted third party for reviewing and validating eco-friendly claims.
Incentives for Miners Using Renewable Energy
The service also incentivizes the use of green energy from miners. Users that connect their ASIC or mining device to a renewable energy source will see their fees cut in half. For example, if regular users pay 2% in fees, users with renewable energy sources will only pay 1%.
If you use non-renewable sources of energy, PEGA Pool will take a portion of your fees to plant new trees and offset the carbon footprint that you leave. These policies and steps go to prove that sustainability isn’t just a checkmark for PEGA Pool. The company is heavily invested in setting up an eco-friendly model and is going to huge lengths to make it work.
Performance and Returns
Let us now head to the business end of this review. Naturally enough, when I am reading a review on a mining platform, I scan through the rest of the document before I come to the profitability part. This section is where I pause, and dig in deep.
To keep it short, it is hard to determine the exact amount of money you will be making with BTC mining on PEGA Pool. Profitability varies with new updates, BTC halving events, electricity prices, market swings, and other factors.
Hash Rate
In my experience mining on the platform, PEGA Pool has a general hash rate of over 405 Eh/s and a pool hash rate of 2.52 Eh/s. At the time of writing this review, the price of Bitcoin is $30,517. Considering the current rate, miners can earn an estimated $0.0757/Th on PEGA Pool.
The average mining pool daily range is $0.05/Th to $0.06/Th. PEGA Pool exceeds this running average by a fair margin to give an output of $0.0757/Th daily. Additionally, knowing that you can cut down your fees from 2% to 1% through adequate use of renewable energy, PEGA Pool can give you a decent daily output on your effort.
FPPS Payout Model
One of the best features of PEGA Pool is that they implement a FPPS (Full Payment Per Share) Model, which pays miners for every share contributed to the pool, even if they do not find a block. This is a great improvement over other mining pools that use a PPS (Pay Per Share) Model, as they will only pay if a block is found. With PEGA Pool’s FPPS Model, miners will receive higher payments, as they are rewarded for every contribution.
How to Check Current Earnings?
If profitability is a major point of contention for you, PEGA Pool offers some decent numbers. You can check the current operation status and revenue through the Accounts page on the PEGA Pool website. Revenue and income records can be accessed by clicking on the Revenue icon on the top left side of the website.
After my personal experience and checking online reviews, it is evident that users haven’t encountered many problems while mining in the pool. The reduced fees and the comparatively better earnings ensure better profits.
Security and Support
PEGA Pool stands out when it comes to security and support. Live customer support is available around the clock, and the website actually educates you on how to avoid security scams and amp up authentication on your account.
When I first joined PEGA Pool during its beta phase, I read through the Security and Safety section in their FAQ section. The section clearly points out that no one from PEGA Pool’s team will directly contact any miner with a promise of better revenue generation or other related benefits. The pool does not solicit investment from miners. If you do get such an approach, you can report it to their support team.
Adding an External Authenticator
Additionally, PEGA Pool gives you the option to connect an external authenticator service with the website login for Two-Factor authentication. I personally availed this opportunity and followed the steps below.
- I downloaded Google Authenticator from the Play Store.
- I then returned to the website and enabled Two-Factor Authentication under Account Settings.
- On the same page, I used the QR code tool to link my authenticator to the PEGA Pool account.
- Once Two-Factor Authentication was set up, I was able to use the verification codes generated by the authenticator app to log in or even when making changes to the account.
PEGA Pool’s support team recommends the use of 2FA for the platform. If, however, your account is still hacked through an external phishing attempt, you should immediately stop mining on the account and open a new one. Also, be sure to change the password on your PEGA Pool and email account. During my time on the platform, I haven't had any security glitches, but if you encounter a problem, it is best to contact the support team.
Conclusion
Is PEGA Pool worth mining on, or should you search for a better alternative? All things considered, I highly recommend PEGA Pool to Bitcoin miners and investors. While PEGA Pool does not support mining cryptocurrencies other than Bitcoin and only works on an ASIC device, I came across a number of positives during my experience with the platform.
As described in the review, PEGA Pool is working towards a better, more sustainable future with eco-friendly mining. The pool has planted over 260,000 trees at the time of writing and supports renewable sources of energy with a 50% discount for users mining through renewable means. The platform also has a decent profitability model where miners can make more than the industry average for cryptocurrency pools.
PEGA Pool saw the light of day recently in early 2023 and has come a long way to be ranked 13th in the list of best platforms for Bitcoin mining. Summing things up, the writing is on the wall with PEGA Pool. It is a serious BTC mining pool and one that you should definitely consider. My experience with PEGA Pool was great, and I recommend it to newbies as well as seasoned pros with an ASIC device.
