Spider Pool: How to receive mining rewards and troubleshoot reward payouts
The below article will explain the setup required to earn Bitcoin mining rewards through https://spiderpool.com/. This includes information on initial setup, how payments are received, minimum accumulation threshold before payout, and reasons for delayed payouts.
Once you have your Spider Pool account set up with the correct sub-account for Simple Mining, starting with "simple.” and your miners are connected, this is what you should be looking for and considering on your Spider Pool dashboard to receive Bitcoin rewards.
How Bitcoin Rewards Are Paid
Spider Pool's default payout amount is 0.005 BTC, with daily payouts. Rewards accumulate in your sub-account balance and are automatically sent to your bound wallet address once the threshold is reached.
Payout Schedule: Settlements are processed daily. Your prior day's earnings are calculated and applied toward your running balance each day.
Minimum Accumulation Required Before Payment Is Sent
There are two threshold tiers to understand:
Tier 1 — Automatic Payout (No Fee to You) Your balance must reach 0.005 BTC for an automatic daily payout. When the minimum payment amount of 0.005 BTC is met, the transaction fee for coin withdrawal is absorbed by the mining pool.
Tier 2 — Manual Request Payout (Fee Applies) If your BTC balance is between 0.001 BTC and 0.005 BTC, you can submit a manual withdrawal request by emailing support@spiderpool.com from the email address registered with your mining pool account. Use the subject line "Application for the minimum balance of the Spider Mining Pool to make a payment" and include your sub-account, currency, and balance in the body. These requests are processed every Monday. Note: the transaction fee for this type of withdrawal is applied to the user.
To avoid paying withdrawal fees, simply allow your balance to accumulate to 0.005 BTC and let the automatic daily payout handle it.
What to Monitor on Your Spider Pool Dashboard
After your miners connect and run for about 10–15 minutes, log into spiderpool.com, navigate to My Dashboard, and select your sub-account. On the Account Overview page, here's what to watch:
1. Miner Status: Confirm your miners are active and connected. If a miner appears offline or inactive, verify your pool URL and sub-account credentials are entered correctly in the miner's backend settings.
2. Real-Time & Average Hashrate: Monitor both your real-time hashrate and your 24-hour average. A significant gap between the two can indicate a miner that is intermittently dropping connection or running below rated performance.
3. Pending Balance: This is your accumulated BTC that has not yet reached the 0.005 BTC payout threshold. Watch this grow daily as your miners earn rewards.
4. Payment History: Once you've crossed the 0.005 BTC threshold, a payment will be sent to your bound wallet address. You can verify transactions here and confirm receipt on-chain using SpiderPool's linked block explorer.
5. Wallet Address: Double-check that your Bitcoin wallet address is correctly bound to your sub-account. If no wallet address is bound, BTC will be held in your account balance until the next payment settlement after binding. Do not leave this unset.
Why Your Earnings Might Not Have Been Paid Yet
There are several common reasons payments may be delayed:
- Minimum payout threshold not met: If your earnings don't yet meet the 0.005 BTC threshold, payment will not be triggered automatically.
- Network delays or congestion: The Bitcoin network can experience delays that extend transaction processing times.
- Incorrect account information: Payments will fail if your wallet address or other account details are inaccurate. Always verify your configuration.
- Technical issues with the pool: Occasionally the pool may encounter maintenance issues causing delays. Check SpiderPool's announcements or help center for updates.