Mining Pool Terms of Use

1. Mining Pool

 By using the Mining Pool Service, you acknowledge that you have read, understood and accepted all of the terms and conditions in these Mining Pool Terms, and you acknowledge and agree that you will be bound by and will comply with these Mining Pool Terms. If you do not understand and accept these Mining Pool Terms in their entirety, you should not use the Mining Pool Service.

2. How to participate in Mining PooL

• The Mining Pool Service enables you to access the Mining Pool and use your computational power to help validate blocks and earn rewards
• When using the Mining Pool Service, you need to:
  1. Generate mining addresses for respective coin.
  2. Go through the instructions carefully.
  3. Install mining hardware & software.
  4. Connect with paybitoPro pool.

• PaybitoPro may refuse to provide the Mining Pool Service to you at any time, for any reason.

3. Mining Address

Your Mining address  is used to record the computational power that you have contributed to Mining Pools.

4. Calculation Method

  PaybitoPro use the following method to determine the quantity of Digital Assets you will be awarded for the computational power that you provide (Mining Pool Reward):

Pay Per Last N Shares Methodology (PPLNS):- Pursuant to the PPLNS methodology, you are awarded Digital Assets based on the number of Mining Pool Shares you contributed to the Mining Pool relative to other users, between the two most recent Last N Shares.

The number of Digital Assets you are awarded is calculated as follows:

Digital Assets awarded = Block Reward * (Mining Shares that the you contributed / total number of Mining Shares contributed by all users in the Mining Pool between the two most recent Last N Shares)

The Mining Pool Fee Rate is published on PaybitoPro mining pool dashboard, and may change from time to time. Mining Pool Fees are deducted from Digital Assets awarded to you before they are distributed to your Mining Pool address.

5. Payment Threshold

       There is  some threshold for each coin to get the reward from the pool’s mining wallet to your mining wallet/address. You have to earn that much to get the reward. Digital Assets credit to your Mining Pool address will be in the same digital currency awarded by the proof of work protocol that your computational power was used to mine, unless stated otherwise.

 6. Liability and declarations

• PaybitoPro will not be liable for any Loss  arising out of, or connected with these Mining Terms, including, but not limited to:
  1. The failure, in part or in full, by you to provide computational power to PaybitoPro as a result of loss of power to hardware operated by you, network interruptions, network operator outages, or other malfunctions; and
  2. Any loss of data or damage to any hardware or software.
• You acknowledge that:
  1. The mining process is very demanding on the computing power of your hardware, which can cause an increase in electricity consumption, for which you are responsible, and accelerate wear on some hardware; and
  2. It is your responsibility to set up your software and hardware, including any individual components. PaybitoPro is not responsible for any Losses arising from or in connection with incorrect or incomplete setup, or your failure to follow any guidelines prescribed by PaybitoPro on its Website.
     
• You confirm that your Mining Hardware has been acquired using your own legitimate funds in accordance with Applicable Laws.