NiceHash is a cryptocurrency cloud mining platform that lets you buy or sell hashing power over the cloud. Find out how it works today in our review.
What Is NiceHash?
Do you own no mining equipment? Do you want to access cryptocurrency hashing power? NiceHash lets you buy hashing power over the cloud.
Yes, the bitcoin community has another way to buy and sell hashing power. Found online at NiceHash.com, the platform promises to be “the most advanced crypto currency cloud mining, hash rental service and multipool.”
With NiceHash, you can buy or sell hashing power without contracts on a pay-as-you-go basis. There’s no need to mess with risky mining contracts or rent/lease rigs. Instead, you can buy hashing power in an easy, no-nonsense way.
Some of the key features of NiceHash include:
- Automatic payments in bitcoin (daily or weekly payouts are available)
- Minimum payout of 0.01 BTC for external wallets, or 0.001 BTC for a NiceHash wallet
- Anonymous mining available – just point your miner to the NiceHash stratum proxy with your bitcoin address as the username
- There are no limits – you can use as many rigs as you like
- The platform is transparent, so you know exactly how much you are earning at any one time
- View detailed statistics for up to 7 days prior
- Access the platform through the Windows app, NiceHash Miner, for quick, simple, and efficient mining
Benefits Of NiceHash
Obviously, NiceHash isn’t the only way to buy or sell hashing power for cryptocurrency mining. What are the benefits of NiceHash? Why would you choose the platform over competitors? Here are some of the key benefits:
- No contracts – just pay as you go
- Mine your coins with massive hash rates
- It’s a simple way to create orders instantly
- Pay for valid shares only
- Never pay for dead or faulty configured rigs
- You can cancel any order at any time
- An online wallet allows for fast purchases
Those who want to sell computing power enjoy benefits like getting paid in bitcoins, withdrawing bitcoins in amounts as little as 0.001 BTC (if you’re using the NiceHash wallet), and no registration required.
Meanwhile, buyers enjoy access to massive hashing power that can be used to mine bitcoin, ZCash, Ethereum, and other coins. Buyers have a minimum order price of 0.01 BTC. They can cancel at any time without a cancellation fee. They only pay for valid shares, and they can mine on any pool they like.
How To Use
Signing up for NiceHash is straightforward. Here’s how it works:
Step 1) Create an account at NiceHash.com
Step 2) Load bitcoins into your NiceHash Wallet
Step 3) Check the price of orders on the Live Marketplace
Step 4) Create an order with an attractive price, based on market conditions
Step 5) Start mining
Some of the key fees with NiceHash include all of the following:
For Buying Hashing Power
- Non-Refundable New Order Fee: 0.0001 BTC
- Amount Spend on Orders for Buying Hashing Power: 3% (unspent amount on cancelled orders is not subject to this fee)
For Selling Hashing Power
- Payouts for Balances Less than 0.1 to External Wallet: 4%
- Payouts for Balances Greater Than or Equal to 0.1 BTC to External Wallet: 3%
- Payouts for Balances Greater Than or Equal to 0.001 BTC to NiceHash Wallet: 2%
Withdrawals And Deposits
- Withdrawals from NiceHash Wallet: 0.001 BTC (for amounts less than or equal to 0.3333333 BTC), or 0.3% of withdrawn amount (for amounts greater than 0.333333 BTC).
- Deposit Fees to NiceHash Wallet: 0 BTC (for amounts greater than 0.01 BTC, which is the minimum amount to place an order).
You can view the full NiceHash fee structure on their website.
NiceHash was founded in 2014 with the goal of connecting hashing power buyers and sellers. The platform offers regular payouts, good support, high security, system stability, and better deliverability of hashing power. NiceHash supports 25 different algorithms, making it the world’s largest hashing power marketplace.
At the time of writing, NiceHash has 170,000+ daily active workers, 85,000+ daily active NiceHash Miner users, 3,000,000+ orders served, and 80,000+ bitcoins paid out.
The platform maintains servers in Amsterdam, Hong Kong, Chennai, San Jose (USA), Tokyo, and Sao Paulo.
NiceHash is an easy way for members of the cryptocurrency community to buy and sell hashing power. It works in a similar way to other services, but tends to be easier to use, and requires less commitment from users on both ends.
There are no contracts. You pay as you go. You can buy as much hashing power as you like, or sell hashing power based on the power of your rig.
Ultimately, NiceHash is a popular way to buy and sell cryptocurrency hashing power over a secure, cloud-based platform.