Our Experience Using the CoinKing Multipool Mining Service

4 Jul
2014

coinking-dashboard

We’ve been using the CoinKing multipool for over two weeks already, trying it out, and we are ready to share some feedback based on our own personal experience. When we have started with CoinKing it was one of the most profitable automatic profit based coin switching pool according to PoolPicker and currently it is still the most profitable one for few of the crypto algorithms supported by the service. CoinKing offers an nice looking and easy to use service, supports a lot of coins and most of the more popular algorithms and gives the users an option to automatically exchange the mined coins not only in the more traditional BTC and LTC, but in many other coins as well. The standard pool fee is 1% and if you decide to use the automatic exchange of the mined coins into some other crypto currency there will be another extra fee for the conversion process (the fees are the ones charged by the exchange used for the conversion), different based on the coin you select to get the payout in. Another very useful thing that we’ve liked a lot is the list of many notifications that you can activate manually, so you know when the pool does something like automatic payout or coin conversion etc.

coinking-multiports-and-coins

The pool has Scrypt, Scrypt-N, SHA256, X11 and X13 multiports and you have the option to either mine in a multipool configuration with CoinKing choosing the most profitable coin at the moment based on the exchange price and network difficulty or to mine directly a specific coin you choose from the list of supported ones. We like that CoinKing is constantly adding new coins, so that the profitability for the miners can remain high and some coins do get removed as well for the same reason. It is no wonder that the poll is keeping top places in terms of profitability as many other pools kind of forget to add new coins and remove old ones thus mining no so profitable coins and offer a lower additional profit. In CoinKing you will see that the highest number of supported coins is in the Scrypt and X11 domains as with the other supported algorithms there are not so many coins available, or at least not so much that are more established and offer good profitability.

coinking-wallets-and-conversion

One of the best things we like the most with CoinKing is the fact that you can select not only to mine specific coin or the automatically the most profitable coin, but also can get what you have mined automatically converted to a coin of your choice. You can either individually set if the coin should be converted automatically or not or do it all in a single click for all coins. Furthermore you can select to convert one mined coin into another of the supported and you set that on per coin basis, so you can mine LTC and have them converted in BTC, but you can also set to mine DarkCoin and have the mined coins automatically converted to BlackCoin for example. Yes, there is support for automatic conversion into coins that have finished their POW phase and are now POS only. Currently there are 19 different coins that you can have your mined coins automatically converted into and in this list more coins are being added as well, including POS only coins. This way POS only coins can get buy support from users that want to mine the most profitable coin and get instead a coin of their liking that they want to support such as Minerals for example.

Now, if everything does look too good to be true, then there is some catch. Well actually we found one thing that we did not like that much using the service. According to the information on the website the automatic conversions should run 4 times a day, or every 6 hours, but we’ve seen these happening more like once a day. There are some minimum limits for a conversion to be executed, but in order for miner with smaller hashrate the mined coins should be combined and exchanged. This however does not seem to be running so well or the limits may be too high, as after two weeks of use we still have some coins that have not yet been converted. Another not so convenient thing is that when a new coin gets added in the pool you need to manually go and configure the automatic conversion for it, as by default the conversion is disabled, so you need to keep an eye on the news section of the pool. In general however we are satisfied with our experience using the CoinKing multipool, we haven’t had serious problems so far, and can recommend you to try it out yourself if you are looking for a new place to mine. Do note however that some people had various issues with the pool, so if you have experienced some yourself feel free to share them below.

For more information about the CoinKing multipool and to try it out yourself…



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9 Responses to Our Experience Using the CoinKing Multipool Mining Service

Jake

July 4th, 2014 at 02:05

Hi there, I’d just like to point out that we actually do not charge the user for coin conversions. The fees for coin conversions are only the coin network fees and the fees on the exchanges we use.

asepdayat

July 4th, 2014 at 10:03

I have mix experience with Coinking. I love the interface, menu structure, you know the whole web experience thing. The ability to sign different name for each algo is the best feature i haven’t found in any other auto-profit-switch multipools.

But the mining itself is rather bad experience for me. Last month i rent hashing power from nicehash to mine HMY but turned out all i got was empty air because they have “wallet/daemon problem”. I already noticed the problem when the block done process reach several hundreds percent. I thought it was because interface problem and low difficulty getting hammered by high hashrate. But then i got more concern when it reach thousands percent done but no coins at my wallet, even not comfirmed section. I mentioned it to their twitter and send email to the support. And it took more than 24 hours for them to closed the HMY port and kick it off from auto-switch port. At that time the hashrate still at several GHs with almost (or reached ?) hundred thousands percent done.

There also another bad experience with “misinformation” about the profit/MHs/day that lead me to spent some BTCs at nicehash but get less than 50% from Coinking of what i paid at nicehash.

Coinking is actually a great pool. They have very nice interface and try to keep up with the new coins and i also see some new improvements like the balance estimation at left side of the index page. I had some profit too there (when the coins statistic show the right number of course lol).

Right now, i move over from Coinking to TMB because of their ultrafast update with the current coins and algo and the profitability. But still, i wish TMB has Coinking web interface.

v0n

July 4th, 2014 at 16:27

My experience with CoinKing is also very mixed, pointed one gridseed for scrypt, one graphic card rig for X11 and one antminer for SHA256 to their multipools for a while as a test, because they seem to be getting high daily averages on poolpicker. Scrypt adventure was highly unsuccessful, didn’t produce even half of the daily figure claimed on comparison sites, took days to trickle through as well, X11 reached about 60% of the figure posted the next day on poolpicker but the biggest surprise was SHA256: Estimated Coins value looked excellent on Coinking’s dashboard, but to my surprise the number didn’t trickle through to the actual SHA256 balance. Not that day, not the next day, not the day after, at which point I started checking forums, found multiple posts confirming my experiences, so I jumped the ship. About two weeks later dashboard still confirms my valid shares, the payout figure is still listed as “estimated” but the coins never materialised as actual balance.

xxx

July 4th, 2014 at 19:02

I would like to warn people before using this multipool. They “forget” very often to autoconvert to BTC your coins. They take your DOGE for example, to autoconvert to BTC, but they forget to add BTC to your account.
I have mined here, for about 1 week, always errors, always some trouble, and always missing BTC ; u have to check very careful if conversion is done right

burzer

July 5th, 2014 at 00:12

Guys, I did have a problem with disappearing coins as well once. It turned out to be that I set conversion to LTC for all coins and did not set a wallet address for LTC, the coins apparently got converted, but not credited in my account. As soon as i set the address with no auto payout everything has been working fine for me, so it was partly my mistake, but also the website not properly working as well. Other than that the same issue with some coins taking a lot of time to be converted.

Happydaze

July 5th, 2014 at 05:34

Earnings seem very low. RZR from June 30 still not converted. Same coin mined later is converted. I’m seeing only 1/4 of what I expected. I don’t understand what going on ……………………………

Jake – maybe you can explain how your system works.

Johnny

July 5th, 2014 at 07:12

Pro: It mines the most profitable coin and gives you the option to convert it to any coin you want to keep in the end.

Con: It doesnt convert the coin right away, so it could have been the most profitable coin to mine at the time but maybe not so when it finally does convert to the coin you want in the end.

Seems like a good selection of different coins they can mine from to be the most profitable, but I think they could add a few more other coins to this list to become even better!

COINKING IS SCAM

June 4th, 2015 at 15:27

Coinking is fcking scamers… I mined on coinking 1 month on x11 and sha256 this fckers stolen my coins.. tech support is death… no reply.

Mehhure

August 6th, 2015 at 20:15

I tried coinking for a couple days. No payout, no coins mined showed, nothing. No reply from tech support for several days now. And, I could not set a wallet address to even payout to. I doubt I will be trying them again.

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