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Binance not only provides a crypto exchange but also a mining platform where miners can join Binance Pool. Where miners combine their computing power (hashrate), they have a greater chance of finding and validating a new block, compared to solo miners, whose difficulty level increases, making it more difficult and time-consuming to find a new block. However, in a mining pool, miners must share the rewards according to their contributions.
Joining a Binance pool allows miners to integrate directly with the Binance exchange, and mining rewards are directly credited to their Binance account. However, even if you already have a Binance account, you must first register with the Binance pool (mining account) before starting crypto mining. After that, miners can connect their mining equipment.
Joining a Binance pool allows miners to integrate directly with the Binance exchange, and mining rewards are directly credited to their Binance account. However, even if you already have a Binance account, you must first register with the Binance pool (mining account) before starting crypto mining. After that, miners can connect their mining equipment.