The goal of NiceHash is to make mining simple, user-friendly, and accessible to anyone who’s got the hardware to do it. NiceHash connects sellers or miners of hash power with buyers of hash power.
|📅 Year Founded||2014|
|🏛️ Founder||Matjaž Škorjanc, Marko Kobal|
|🚀 Support||FAQ, social media|
|💳 Wallet||NiceHash wallet|
|👥 Clients||2.5 mil+ miners|
|💰 Bonus||Referral rewards|
|🌐 Types of instruments||Hashpower, crypto|
Nicehash 8 key point overview:
- ✔️So how does NiceHash work?
- ✔️Special features
- How to open an account
- How to buy hashpower/crypto on this exchange
- What makes NiceHash special
👉 NiceHash was founded in 2014 and this platform has more than 2.5 million users globally.
👉 The NiceHash team offers both an innovative mining platform with advanced algorithms, as well as an exceptional low-cost crypto exchange called NiceX, but in this review, we’ll be focusing on NiceHash.
👉 But you’re not actually mining crypto with NiceHash – you’re using the software to buy and sell computing power that is used for mining and the whole marketplace uses Bitcoin – so all payouts are done in Bitcoin.
👉 All you need is an NVIDIA or AMD processor and you can find a detailed breakdown of your potential earnings by scrolling down to the bottom of the homepage and clicking on “Mining hardware”.
👉 There are dozens of mining pools you can join.
👉 All you need to do is create an account, download the Nicehash legacy mining software and join a mining pool.
👉 To see the available mining pools, scroll down to the bottom of the homepage and click on “Compatible pools”.
👉 If you don’t know what Hash power is, it is a computational resource that describes the power that your computer or hardware uses to run and solve different cryptocurrency Proof-of-Work hashing algorithms.
👉 It is one of the safest crypto exchanges and mining platforms and is secured by 2-Factor Authentication, SSL and TLS Encrypted Connection, and Live Monitoring.
👉 NiceHash uses the Lightning Network Node to make its operations more scalable.
So how does NiceHash work?
👉 NiceHash is not your traditional cryptocurrency exchange.
👉 With NiceHash, Buyers select the cryptocurrency that they want to mine and a pool on which they want to mine, and then they set the price that they are willing to pay for it and place the order.
👉 This order is then forwarded to everyone who is connected to NiceHash with NiceHash Miner or other mining hardware.
👉 Miners in the selected pools will then receive the order and provide computing power, or Hashpower, to fulfil the buyer's orders, and they get paid for doing so.
👉 Instead of a crypto exchange, NiceHash provides a live Hash Power marketplace where you can buy and sell hash power.
👉 There are several different programs and bots that you can use when mining through NiceHash.
👉 Depending on the type of miner you’ll be, you can either use the NiceHash official Miner or the QuickMiner.
👉 You can also use the NiceHash Linux-based operation system for more advanced mining farms and download the NiceHash Bot for automated order management.
👉 To view the Mining software and tools, click on the “more” button in the top right-hand corner of your screen and select “Miners and tools”, or scroll down to the bottom of the home page and click on “Miners and tools” under the download centre menu.
👉 If you are new to mining, we recommend reading the introductory guides and you can find these resources under the “Mining” section of the menu.
👉 You can also read the guide on buying hash power.
👉 If you’re joining NiceHash because you wanted to buy hashpower, simply create an account, fund it and head over to the marketplace.
👉 NiceHash created the original algorithms and mining software used on this platform, and provides solutions for both CPU, GPU and ASIC miners, where usability and accessibility are prioritised.
👉 You can view the algorithms in more detail by clicking on “Algorithms” under the “mining” menu.
👉 There is also a mobile app that you can use to manage your accounts and crypto wallets, and monitor and configure your mining rigs with ease.
👉 This app can be downloaded for free from Google Play or the App store.
👉 There are also several widgets that you can use to calculate profitability and keep track of halving and forking with the crypto countdown tool.
👉 We also recommend subscribing to the NiceTalk community platform where you can watch talks with Guests and Industry experts to gain exclusive insight and tips.
👉 You will be able to watch all the new and previous episodes by clicking on ”NiceTalk” under the “Company” menu.
👉 What makes NiceHash unique is that you can create organizations for your mining systems.
👉 Organizations allow you to organize your NiceHash activity (mining, trading etc.) between multiple users and set different permission levels, which makes it so much easier to organise your workflow and delegate tasks.
👉 This way of mining also keeps your personal crypto investments separate from company investments and every part of the NiceHash platform can be used in an organization.
How to open an account
Before you can start trading or staking on NiceHash, you need to create an account.
Step 1: Visit the Nicehash website
Visit the official Nicehash to start the process of opening an account
Step 2: Click on the “Get Started” button.
To open an account with NiceHash, open the home page and click on the “Get Started” button.
Step 3: Fill in the form.
You can sign up with your email address and you will be required to fill in your personal details. Once you have created your account, you must verify your email address or mobile number.
Once your account is verified and complete, you can either download the software, configure your mining rig and join a pool, or fund your account and place your first Hash power order.
NiceHash accounts work in tiers.
All tiers can access the NiceHash wallet, use mining software and trade on the NiceX Exchange, but only tier 1 and 2 accounts can use the Hashpower marketplace.
👉 If you are a seller/miner of hashing power, you will get your mining payments to the NiceHash BTC (Bitcoin) wallet address.
👉 From this address, you will be able to withdraw your funds to any Bitcoin wallet of your choice, or you can exchange your funds using the NiceHash Exchange.
👉 If you are a buyer of hashing power, you will be able to use NiceHash internal wallet address for deposits and withdrawals.
👉 If you are a part of an organization you can also withdraw and deposit funds from/to the organization wallet if you have permission to do so.
How to buy hashpower/crypto on this exchange
👉 To buy hashpower on NiceHash, simply create an account and open the live marketplace.
👉 If you want to buy, sell and trade crypto, we recommend using the NiceX exchange instead.
👉 Now you have an account and your wallet is ready, but if you need assistance with anything else, you can contact the NiceHash support team.
👉 We also recommend visiting the support centre to view guides and tutorials on creating and managing your account, making deposits and withdrawals, and everything else you need to know about the mining methods and software.
👉 There are guides on the different methods of mining and you can also read through the guide on buying hashpower if you are new to this.
What makes NiceHash special
👉 You don’t have to be a miner to earn passive income with NiceHash.
👉 If you have more than 100,000 followers on social media, NiceHash will reward you generously for bringing new users to the NiceHash platform through the affiliate mining program.
👉 If you have the hardware to provide computing power and you’d like to earn passive income, why not do it through NiceHash?
👉 All you need to do is create a NiceHash account, download the software, configure your hardware and choose a mining pool. It’s that simple!
👉 If you’re interested in mining, buying hashpower AND buying crypto, we recommend using both the NiceHash mining software as well as the NiceX Exchange.
👉 The NiceX Exchange was launched in 2019 by the NiceHash team and it is a traditional crypto exchange that offers more than 60 cryptocurrencies.
👉 If you’d like to know more about the NiceX exchange, let us know in the comments section!
👉 NiceHash has really gone above and beyond in giving crypto enthusiasts what they need, and we admire the innovation and dedication that this company has.