A lot has been said about Slush Pool – some of them complimentary and others outright negative. However, it is undeniable that the site is a revolution on its own and led the way for future Bitcoin pools. For one, Slush Pool was the first ever bitcoin mining pool in the world. The site is run by Czech based tech company, Satoshi Labs, who are also the creators of first offline Bitcoin wallet, TREZOR Bitcoin Safe and the first Bitcoin-centric world map, CoinMap. Satoshi Labs are also credited as the original developers of the mining stratum protocol currently being used by other mining pools.
(Warning: Don’t confuse SlushPool with SlushMiningPool… here’s why.)
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SlushPool is a very popular website, with an Alexa global rank of less than 40,000 at the time of writing. Most of its users are American, and other significant sources of traffic are the UK, Germany, China and Canada among other countries.
About Slush Pool
Slush Pool first went online in November 27, 2010 under the name Bitcoin Pooled Mining Server. However, the site later rebranded and changed its name to Slush Pool (slushpool.com) and has maintained the same name to date. In January 2012, the website found its first blockchain and since then has mined over 15,000 blocks. It’s servers are located in United States, Europe, China and Singapore and has different URL’s for those countries and surrounding regions.
The site partners with a group of expert miners and charges a 2% mining fee for every transaction, which is shared with the miners.
Besides Bitcoin, the site also provides service for the Zcash (ZEC) altcoin.
More information about Slush Pool is given below, in form of pros and cons.
Positives
- The site is the first ever bitcoin mining pool in the world its long history of stable and accurate mining systems gives it a degree of credibility.
- Uses a Score based method whereby older shares have less value than newer shares at the start of the round thus decreasing the risk of cheating by shifting between pools within a round.
- Has a user friendly easy to approach interface and provides a demo account to test out before joining. Also regularly updates its information, graphs and news via users Release note sections and social media accounts.
- Anything over 0.0002 can be set as a threshold. Payments are promptly given once the threshold is hit.
- Very secure as there is worker monitoring, 2 FA (Factor Authentication), and wallet address locking plus one can give a read only login token if someone else is monitoring your mining. Also runs on highly secured servers whereby the users’ Bitcoin wallets are protected.
- Has an efficient customer service team to provide assistance in the event of any issues or concerns.
- Using the scoring hash rate, users benefit from their unique reward system, allowing fair distribution of the value of a found block to relevant miners.
- Miners can give suggestions or reply to different pool development efforts in the development corner. Miners also have their say on the best mining tariffs by voting for Bitcoin core, bitcoin classic, bip 100 or choosing the “don’t care” option.
Negatives
- Charges 2% of all payouts which may be a bit too high compared to other mining pools.
- Though the Score based method discourages cheating, the miner’s score quickly depletes when they stop mining at the pool since their recent shares will be of lower value than their previous ones.
Slush Pool Review Conclusion
According to the many reviews revised slush pool is true to its word putting the needs of its users above itself making it quite trustworthy and guaranteeing satisfactory results.
If you believe that Slush Pool is a scam or if you have any feedback to provide about this service, please let us know by replying to this review or sending us an email. If you didn’t find information you were looking for, please let us know.
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Slushpool is nothing but a scam . they ask you for the basis $1000 to start . then after the 1st week of trading they want you to upgrade to the Pro account . Another $5000! then the next week your account will be $45,000 +. then they ask for another UPFRONT FEE !! of 25000$ ! to withdraw!what a joke !
SCAM!!!!!!!!!
DO NOT USE SLUSHPOOL ! THEY ONY SCAM PEOPLE!
Terrible company. Yesterday I lost my all BTC coin, as per slush pool someone hacked my account (both slush pool and Gmail ) and changed my wallet address and transfer the amount in 1 min of duration. How it is possible, I am getting all notification on my mobile immediately even if some access my Gmail from different IP location. But I have not received any notification. Only I have received final mail the all the coins have been transferred to some address. I have immediately contacted customer care of slush pool. After 2-3 hours they replied someone hacked your account and we can’t do anything. They are big cheaters and liers. Even I have checked with Gmail customer care; they confirmed that my Gmail account had not been accessed outside. No sites immediately approve the wallet address and transfer the coins within 1 min.
Hi there (: I am here to report about my funds that they stole my funds without any consent/permission as a cilents as I did follow Jan Capek instructions on how I do it but I do notice that I got scammed every money I deducted in my bank account whenever I bank in and left nothing for me while waiting for my money to get paid. I need the answer asap cause this is way too overboard as I share my coinbase account to the IRS director but he did betrayed me. This is way too overboard using cilents money and who would like it deducting as this is very dangerous and bad. I need a report to answer my questions to file the fraud instructions as they are very careless in their doing, please refund me back before I will start sue the government for being a fraud . Thank you for cooperation
Did you ever get your Funds, sir from Slush pool…?
The review is perfect.
…. good, the review is verily smart and useful, thanks so much.