Benefits of Bitcoin mining rewards payouts

Bitcoin is the world’s first cryptocurrency, which still has the highest market capitalisation in the industry. Most crypto investors hold a definite position in BTC, in addition to the popular opinion in the blockchain community that bitcoins are best suited to securely store value over a long period of time.

Yes, some are still associating with stablecoins like USDT or USDC, but as the recent blockchain events after the Tornado Cash sanctions have shown, the dependency of users on stablecoin issuers is very high. And if you think back to the UST situation, it could even get bad.

Top cryptocurrencies by market capitalisation

For example, for ERGO miners who want to circulate this coin, there is no need for Bitcoin payments. However, in most cases BTC payments are convenient and reliable.


Initially Bitcoin payments on the 2Miners pool were available exclusively for Etherium. However, the day after tomorrow the ETH network will switch to PoS, which will cause ether mining with video cards to stop.


2Miners pool developers have already implemented rewards in Bitcoin for Ethereum Classic (ETC), ERGO (ERG) and Ravencoin (RVN) pools. And this feature is suitable for both general and solo pools.

Bitcoin payout mechanism

The system’s algorithm is quite simple. Bitcoin payments are made once a day at approximately 15:00 MSK, as described on the Payouts page. Here is an example for ETC.

Bitcoin payout schedule for ETC miners

Let’s say you are mining ETC and you choose BTC payments. Every day at 15:00 Moscow time the pool checks if the miner has reached his payment threshold. If the check is positive and the unpaid balance exceeds the payout threshold, then your coins are sent to cryptocurrency exchange along with crypto of other miners.


Currently, 2Miners pool interacts with three different exchanges: Kraken, KuCoin and Binance.


Cryptocurrencies are exchanged for BTC on the cryptocurrency exchange and then sent to 2Miners’ payment gateway. The next step is to send BTCs to each individual miner.

Bitcoin payout fees

Bitcoin payouts require a certain commission in BTC. The 2Miners pool states that the amount does not exceed $0.2, but in practice it usually does not even exceed $0.1 and amounts to several cents. It is also important to understand that it is not the commission of the pool, but of the Bitcoin network itself. But then why is it so low? The thing is that 2Miners team combines all payments into one transaction, and this significantly reduces the amount of commission for each individual miner.


2Miners pool does not charge any transaction fees for transferring coins to and from the exchange, nor does it charge any additional fees or interest. Miners only pay a small commission to the Bitcoin network when making a payment.


However, why pay a commission in Bitcoin at all when you can receive payments on the Ethereum Classic, Ergo and Ravencoin networks for free?

The 2Miners pool payout fee message

Miners – as well as many cryptocurrency investors – love accumulating Bitcoin. And if they use this payout system, they save a lot of fees on sending, exchanging and withdrawing BTC from exchanges. The time required for regular crypto exchanges is also saved. Finally, bitcoins are sent to the right wallet – be it cold, hot or hardware storage, or maybe even an address on a cryptocurrency exchange.


That said, storing large amounts of cryptocurrency on an exchange is risky. It is better to use the hardware wallets we are already familiar with.


If you are not interested in storing BTC and want to spend ETCs, ERGs or RVNs, then Bitcoin Payouts are unlikely to work for you. In this case, you can get standard payouts in the cryptocurrency that is being mined. On the 2Miners pool, this happens every two hours, and without any fees.

How to get paid in Bitcoin for mining Ethereum Classic ETC

Ethereum Classic has long been the second most popular cryptocurrency among miners, and if you exclude Etherium, it is ETC that has the highest network hash rate. You don’t need to do anything supernatural to start getting paid in BTC. All you need is to have Bitcoin wallet address.

This system is tried and tested and reliable. Bitcoin payments for ETCs were launched on the pool back in March 2022. If anything, all the details on the subject are given in the article “How to get bitcoins for mining Ethereum Classic (ETC)?”.

To start mining ETCs and receive BTCs, simply replace your ETC wallet address with the Bitcoin network address. The 2Miners pool will automatically detect the network of the specified address and will then make payments in the desired blockchain. All the details on ETC mining are on this page if needed.

Here is an example for mining ETC using Gminer.

If you use Gminer to mine Ethereum Classic and want to get ETCs, you should use bat file with this format.


miner.exe --algo etchash --server etc.2miners.com:1010 --user 0x22A9a06615492BdA25bD518F1973cd23B548DB13.RIG_ID


If you want to receive payouts in BTC, you must replace specified ETC address 0x22A9a06615492BdA25bD518F1973cd23B548DB13 with a Bitcoin address of type bc1qnkyhslv83yyp0q0suxw0uj3lg9drgqq9c0auzc. Accordingly, in this case, the bat-file will look like this.


miner.exe --algo etchash --server etc.2miners.com:1010 --user bc1qnkyhslv83yp0qsuxw0uj3lg9drgqq9c0auzc.RIG_ID


That’s it: just use Bitcoin address and get BTC. And the same approach is applicable to any other miner like T-Rex, lolMiner, NBMiner, TeamRedMiner and so on.

It is important to note that you can use any suitable Bitcoin address format from those listed below:

• SegWit – e.g. bc1qnkyhslv83yp0q0suxw0uj3lg9drgqq9c0auzc
• Compatibility – e.g. 3GRdnTq18LyNveWa1gQJcgp8qEnzijv5vR
• Legacy – e.g. 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

RaveOS settings for BTC payouts when mining Ethereum Classic ETC

Setting up RaveOS is easy. If you wish to mine ETCs and get BTCs, copy and paste your Bitcoin network address into your “Wallet” field. An example is given below.

Ethereum Classic mining settings in RaveOS

HiveOS settings for Bitcoin payouts when mining ETCs

HiveOS is another popular OS for mining. To receive bitcoins when mining Ethereum Classic using HiveOS, you need to specify the BTC address in the “Address” field as shown below.

Ethereum Classic mining settings in HiveOS

ASIC settings for Bitcoin payouts. Antminer E9 and Innosilicon A10, A10 Pro, A11

With the era of Etherium mining coming to an end, many ASIC miners have already made the switch to ETC. In general the settings page depends on the ASIC manufacturer but there is always a field to specify the pool URL (host:port) and your cryptocurrency wallet address, also known as “Worker name”. To get rewards in BTC you need to use your Bitcoin network address in the address field in the settings of your device. Here is an example.


URL: stratum+tcp://etc.2miners.com:1010
Worker: bc1qnkyhslv83yyp0qs0uxw0uj3lg9drgqq9c0auzc
Password:

x

How to get bitcoins for mining Ergo (ERG)

BTC payments for Ergo miners were released in September 2022. That said, since ERG is not supported on Kraken or Binance, the 2Miners team was forced to implement the KuCoin platform into the payout system. Bitcoin payments for Ergo miners are made once a day at 15:00 MSK. Keep in mind, however, that the exchange procedure may take several hours.

The settings are as simple as possible. Use your BTC network address instead of your ERG address to receive bitcoins. Here is an example for T-Rex.


t-rex.exe -a autolykos2 -o stratum+tcp://erg.2miners.com:8888 -u bc1qnkyhslv83yp0q0suxw0uj3lg9drgqq9c0auzc -w RIG_ID -p x


The main thing is to remember to change specified Bitcoin address to your own and to specify RIG_ID if necessary.

For settings for other software, see ERGO’s pool help page.

RaveOS settings for BTC payouts when mining ERGO

The screenshot below will help you set up how to receive BTC when mining ERGO.

Ergo mining settings in RaveOS

HiveOS settings for Bitcoin payouts when mining ERGO

HiveOS settings for ERGO are the same as for ETC mining, all you need to do is specify your Bitcoin address instead of ERGO in the “Wallet” field. Here is an example.

Ergo mining settings in HiveOS

How to get BTC Bitcoins for mining Ravencoin (RVN)

The last remaining Bitcoin payout option was the Ravencoin RVN pool. Generally, RVN has received a lot of attention from crypto investors lately, given the upcoming transition of Etherium to PoS. In the last two weeks, the Ravencoin exchange rate has increased by 110 percent.

Ravencoin RVN exchange rate chart for the last month

Just study the contents of the help page to adjust accordingly. Here is an example of almost the best miner for AMD cards called TeamRedMiner.


teamredminer.exe -a kawpow -o stratum+tcp://rvn.2miners.com:6060 -u YOUR_WALLET_ADDRESS.RIG_ID -p x


RaveOS settings for BTC payouts when mining Ravencoin RVN

You can get Bitcoin payouts when mining Ravencoin using RaveOS or other operating systems. To do this, simply provide your Bitcoin wallet address in the “Wallet” field, and select the nearest 2Miners server for Ravencoin. If in doubt, use European server. Here is an example.

Ravencoin mining settings in RaveOS

HiveOS settings for Bitcoin payouts when mining Ravencoin RVN

Create a new wallet in the HiveOS settings. Select RVN and enter Bitcoin address in the address field. That’s it.

Ravencoin mining settings in HiveOS

Bitcoin payouts in solo mining

2Miners’ BTC payouts system is suitable for both PPLNS and SOLO mining, which involves solo mining.

SOLO mining is riskier than PPLNS because it requires more processing power and a lot of luck. The 2CryptoCalc calculator will always help you estimate your chances of mining solo. Enter your hashrate and choose your cryptocurrency for SOLO mining. Here is an example of calculations for Ravencoin with hash rate of 4500 MH/s on Kawpow algorithm.

Calculation of Ravencoin RVN mining profitability for a hash rate of 4500 MH/s

In this case the idea is risky, but not impossible. Usually, going solo is not recommended unless the calculator is guided at least by mining 2-3 blocks per day. And if blocks are not displayed at all, then mining becomes a lottery with constantly jumping potential rewards.

If you want to mine solo, you can get BTC for mining ETCs, RVNs and ERGOs. To do that, enter a Bitcoin address in the miner settings, and that’s it. The settings are on the help page of each of the listed coins.

2Miners Solo Pools with Bitcoin Payouts

These pools are.

• Ethereum Classic (ETC) – http://solo-etc.2miners.com/
• ERGO (ERG) – http://solo-erg.2miners.com/
• Ravencoin (RVN) – http://solo-rvn.2miners.com/

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