How to set up mining on Binance pool?

Binance Pool is one of the newer highly growing Bitcoin pools that recently also opened Ethereum mining pool. It is operated by the largest crypto exchange Binance, which beside exchange with hundreds of tokens and coins also runs several cutting edge products in the crypto world. Besides Bitcoin (BTC) mining, Binance Pool also supports Bitcoin Cash (BCH), Bitcoin Satoshi Vision (BSV) mining, and Etherum (ETH) mining.

The 24h earnings are deposited directly into the Binance Mining Pool wallet at 08:00 (UTC+8) on the current day. The fees are from 0.5% to 2.5%. The payout reward scheme used on Binance Pool is FPPS.

In this article, we will show you how to configure your GPU mining rig to mine ETH on Binance Pool.

Address editor

First, open the address editor and add a new tag (POOL:ETH-BINANCE) which will hold the Binance Pool stratum address. There are several ports available, so choose one of the following stratum addresses:

  • stratum+tcp://ethash.poolbinance.com:1800
  • stratum+tcp://ethash.poolbinance.com:25
  • stratum+tcp://ethash.poolbinance.com:443
  • stratum+tcp://ethash.poolbinance.com:3333
  • stratum+tcp://ethash.poolbinance.com:8888

Add wallet

Next, save the tag (WALLET:BINANCE) under wallets with your Binance Pool's mining account name. You can get this mining account name on the account management part of Binance dashboard. You can create any mining account name you like and use for identification of your rigs.

NOTE It is very important to note that when mining on Binance Pool, you need to identify with the username.workername where your username can be saved as (WALLET:BINANCE) in your address editor and instead of a fixed worker name, you can use (WORKER) tag - but make sure that your worker has the same name on Binance Pool and minerstat.

Worker's config

In the next step, navigate to your worker's config. Selecta default mining client that you want to use for mining on Binance and then use the simple or advanced configuration.

Simple config example

  • Coin: ETH
  • Pool: (POOL:ETH-BINANCE)
  • Wallet: (WALLET:BINANCE)
  • Password: x

Phoenix ETH example

-worker (WORKER) -pool (POOL:ETH-BINANCE) -wal (WALLET:BINANCE) -pass x -eres 0 -log 0 -proto (AUTO)

TeamRedMiner example

--algo ethash -o (POOL:ETH-BINANCE) -u (WALLET:BINANCE).(WORKER) -p --eth_dag_slowdown=9 --watchdog_script=/home/minerstat/minerstat-os/bin/reboot.sh --eth_no_ramp_up

Balance monitoring

Currently, you can't monitor your balance on the Binance pool directly, but you can add your BTC, BCH, BSV, or ETH wallet to wallets balance monitoring and monitor it directly on the blockchain.

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