One of the main questions in the heads of those, who are interested in mining cryptocurrencies, is whether to do it alone, or whether to join a group of people who are also doing the same. Although the natural inclination in this regard would be, to do it on your own, and reap the benefits alone, if you look at the success rates of those working alone, as opposed to that of the groups, you would clearly understand that the groups, which are known as pools, have a better chance of achieving success than working alone.

To achieve success in mining bitcoins, you need to complete an entire block of transactions and also manage to apply nonces to all of them, this means you need to be 100% accurate and even more faster to complete an entire block within than short period of time. Of course yes, if you have enough capital and enough computing power to be able to run the software in your garage, then so be it. But if you are just starting off, and you are still testing the waters, then it is always better to join a mining pool. If you want to make btc transactions simple you can use the bitcoin qr code system.

A mining pool is basically a group of individual working together as a team, to solve blocks and earn the rewards. Considering the fact that the reward for solving one block is 25 bitcoins, and one bitcoin at the time of writing this article was selling at $1,700.65 USD, hence winning that reward would mean, the pool earning almost $45,000.00 USD, which is a lot of money. So, joining a pool, gives you a better chance at gaining at least a portion of it rather than gaining nothing at all.

However the bitcoin protocol, does have some rules and regulations for mining pools as well, so it is always better to go through the terms and conditions of the bitcoin protocol with regard to mining tools first, before actually joining one. But at the same time, you are always more likely to win the lottery together than all by yourself.