Nicehash is the world’s largest cryptocurrency mining market. It is a platform for sellers and buyers of computing power. The site interface is available in English, Russian and Chinese.
The language, as well as the appropriate currency, is selected automatically depending on the location of the user. However, users can change these settings by using the appropriate controls on the site. The currency can also be changed in the profitability calculator.
The service started working in 2014. The company is registered in Ljubljana, which is the capital of Slovenia. In the autumn of 2017, there was a global update of the site. The developers have improved the user interface, added help and additional functionality.
In addition, the site offers users earnings through an affiliate program. Access to it is opened after creating an account. Users must inform the technical support information about the resources where they plan to place the links. The administration of the resource can approve or reject the offer. If successful, users will have access to graphic materials that can be posted on the website or blog. Potential earnings will be about 5% of all funds that will be able to attract with the help of invited users. A one-time bonus will also be charged, which will be 0.000005 BTC.
At the end of 2017 the service was hacked, a large amount of Bitcoins was stolen. Many users then complained of interruptions in the service.
Users can calculate the potential profit from investments using a special calculator. It is posted on the official website and the results that it provides, use the profitability data of other users with the same equipment, and therefore are very accurate. It should be noted that sometimes the calculator does not work and communication is interrupted, as if the Internet connection was broken.
This mining calculator is very easy to use and, unlike other similar services, does not require specification of technical characteristics of the equipment. All users need to know is the model of the device that will be used to mine cryptocurrencies. Next, they need to specify the appropriate currency the cost of one kilowatt of electricity at their rate. These data will be enough to calculate the potential profit for the day, week, using the mining calculator of video cards. All payments are made in Bitcoins, so the conversion to the currency takes place at the current rate.
The main advantages of this miner is the support of all the most popular algorithms, the ability to work on the GPU from AMD Radeon or Nvidia, supported by mining on the processor (CPU) and so on. The program can also make its own decision to enable dual mining, if it is profitable at the moment. The software runs on 32 and 64 bit systems, but some algorithms only work on 64 bit systems. Users should make sure that the bit depth of their operating system is appropriate if they plan to use these algorithms. However, using Nicehash miner 32 bit is still not recommended unless users want to see messages that Nicehash does not see the graphics card/processor.
The administration offers a list of services that are well compatible with this platform. Among them are Suprnova.cc, Mining Pool Hub, Hash 2 Coins and others. In general, all pools that work under the Stratum Protocol are supported, so the user can not limit himself to the recommended above services.
How to mine
For sale computing power users need to download and install the aforementioned miner. Both video cards are supported and the program is perfect for beginners, because the setting is automatic, and the income remains at the same level. Users don’t even have to choose an algorithm, because the program will do it on its own based on the experience of other users with the same hardware. However, many of the automated settings can be changed manually, if necessary.
Cryptocurrencies for mining
The platform offers support for many cryptocurrencies and works with all the main mining algorithms. It should be noted that not only well-known, but also less common, such as WhirpoolX and Keccak, are supported. Among the popular ones there are Equihash, SHA-256, Scrypt, x11 and CryptoNight. Thus, users can mine Zcash (ZEC), Ethereum, Monero and many other coins.
The process of buying power is quite simple and should not cause difficulties. All users need to do is to register and Deposit the required amount. All payments are made in Bitcoins, so the replenishment of other currencies is impossible. Bitcoins can be purchased in any way. Next, the buyer needs to choose a currency for production and a suitable mining pool. Next, the price for the selected volumes of power, which will suit the user and the application is placed. It should be taken into account that for each algorithm on the site there is a market. It is also important to choose the right server. The choice depends on the location of the pool. The servers are located in Europe and their prices may vary. Usually, pools also have multiple addresses for different continents. As for orders, there are several types for the convenience of buyers and sellers. A standard order assumes a minimum payment cost, but if someone specifies a higher price, then its execution will stop until the amount is increased. When a fixed order is created, the price at which mining will continue until the order is valid is specified. This way you can simply invest more money and not waste time tracking the current market situation as if you were using a standard order.
Orders for all algorithms on the site have a minimum value of 0.005 bitcoins. Users can track their order on a special page in the relevant section of the market. The interface of the site is quite convenient and its use does not cause problems.
The Commission is taken from both buyers and sellers. When creating an order, users account will be charged the amount of 0.0001 Bitcoin. For sellers of the system, the prices are as follows: 2% if the payment is more than 0.001 BTC to Nicehash wallets; 4% if the payment is to the external wallet and its amount does not exceed 0.1 BTC; 3% if the external wallet and the amount is higher than 0.1 BTC.
Replenishment of the account also involves commissions. If the amount exceeds 0.005 BTC, the Deposit will be free. If the amount is less, the Commission will be 0.0005 BTC. Thus, the minimum payout is also 0.0005 BTC.
As for withdrawal of funds, a fixed amount of 0.0005 BTC is offered for transfers less than 0.25 BTC. If the translation is more, users pay Commission in the amount of 0.2% of the amount.