Nicehash (Russian: NiceHash) is a marketplace that allows sellers and buyers to trade computing power for crypto mining around the world. Sellers can earn money using the Nicehash Miner software, and buyers can purchase power for any popular mining algorithms on favorable terms. Another service that is popular is the equipment profitability calculator. With its help, you can determine the profitability of mining.
NiceHash official website: nicehash.com
Trading is carried out in real time without the use of long-term contracts. Nice Hash also works as a backbone network, indirectly affecting the generation of new digital coins and confirmation of transactions. The editors of Profinvestment.com have prepared a detailed review of the Nicehash service and the features of working with it.
| Service | NiceHash (NiceHash) |
| Website | www.nicehash.com |
| Russian language | Yes |
| Year of foundation | 2014 |
| A country | Slovenia |
| Address | Obrežna ulica 3, 2312 Orehova vas, Slovenia |
| Kind of activity | hash power market provider and software developer |
| Registration number | 6633994000 |
| CEO | Marko Kobal; Matjaž Škorjanc |
| Bitcoin wallet | Yes |
| Purchase commission | 3% |
| Minimum order amount | 0.005 BTC |
| Sales commission | 2-5% |
| Enter | Bitcoin (BTC) |
| Conclusion | Bitcoin (BTC), Coinbase, Payeer |
| Verification | No |
| Software (miner) | Nicehash Miner Legacy |
| Calculator | Profitability calculator NiceHash |
NiceHash Review
Today, the Nicehash mining service has the following indicators:
- total Bitcoins paid – 204 thousand
- total sales processed – 4,700,000
- 107 thousand use the platform daily
- active workers – 293 thousand
The organization is registered in Slovenia and has working servers in the USA, Brazil, Japan, India, China and the Netherlands.
How the service works and its features
NiceHash is an online brokerage market that connects buyers and sellers of mining power. Power is a computing resource, an indicator of how much power the equipment spends to run software and solve algorithms that work according to the Proof-of-Work scheme.
Nice Hash is NOT cloud mining, the company does not rent equipment; it is just a platform for connecting end users.
Two types of users on NiceHash:
- Power buyers. They select the cryptocurrency they need, the mining pool, set the price they can pay for the service, and place the appropriate order. When the order is filled with miners (see below), the buyer receives the cryptocurrency mined by the pool. This is convenient because the buyer does not perform complex actions on his own and can do without investing his own funds in the purchase of equipment.
- Power sellers (or miners). They install and launch software from NiceHash, connecting their computing power (PCs, farms, ASICs) to the buyer’s order and platform servers. The power is directed to the pool selected by the buyer. Payment for each confirmation of validity is received in Bitcoins. The cost is determined by the current average and is updated every 60 seconds. The process is as automated as possible.
What is NiceHash
What is NiceHash
NiceHash (NiceHash)
is an exchange of computing power for cryptocurrency mining. Essentially, the NiceHash service is an intermediary between sellers of excess hashrate and buyers of insufficient hashrate.
Operating since 2014. Registered in Slovenia, but has servers in many countries around the world (Japan, USA, India, Brazil, etc.). In 2017, it was subjected to a hacker attack, which resulted in the theft of a large amount of BTC and interruptions in the service. However, NiceHash recovered from this unpleasant incident, launched a program to return funds to affected customers, and until today is characterized by stable and problem-free operation.
NiceHash operates as a real-time open market where buyers create orders specifying the pool, mining speed and algorithm, and the price they are willing to pay for it. In turn, the owners of mining equipment, who are connected to the system through the NiceHash software, execute such orders, directing their computing power to the specified mining pool, for which they receive payment in bitcoins. In this case, the cryptocurrency mined as part of the transaction becomes the property of the buyer.
NiceHash is convenient for both types of users in its own way:
- Those who want to start mining do not need to study the technical component of this process, buy equipment and configure it;
- Owners of computing power have the opportunity to earn money without having to delve into working with pools and setting up various mining software - NiceHash Miner automatically reconfigures itself to the most profitable options.
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NiceHash official website
NiceHash official website: sections and services
The top menu of the Nicehash website contains the following sections:
- Home. Home page – general information about the service. Latest news of the project. Information about recent payments to users and the latest orders created.
- About Us. Brief information about the company, statistics, registration data.
- To sellers. A detailed description of the work process, the ability to choose a method of earning money in accordance with the available equipment.
- Buyers. Information about the method of purchasing power and current average prices for certain algorithms.
- Reference. Detailed information section where frequently asked questions are sorted into categories.
- Register Login. Create or activate a NiceHash account.
At the bottom of the NiceHash website page there is another menu:
- Sellers. The section includes all functions that are in one way or another useful for power sellers: mining using CPU, GPU, ASIC, farms; downloading the NiceHash Miner application; search for a miner; algorithm selection; profitability calculator; information about the latest payments made.
- Buyers. The points in this section allow you to go to the online market to acquire power, as well as learn about prices and select compatible mining pools.
- Development. This section provides information about APIs, pool operators, and software developers.
- Section with detailed information about the project: news, media publications, referral program, commissions, etc.
- Find us on... List of social networks where the service has offices.
At the very bottom of the page there is always information about the status of the servers. A green circle means the server is operating normally.
Farm profitability calculator and benchmark
If you have downloaded and installed the NiceHash miner, then when you first start it will offer to benchmark the system and select the most profitable cryptocurrency on its own.
You won't need a calculator, but if you do, here's a calculator for mining NiceHash. It calculates profitability based on available hardware. Windows users have the ability to automatically recognize the power available for mining with one button.
In other cases, select “Enter Hardware Manually”, after which the service will prompt you to enter the name of your video cards or ASICs, indicate the number of devices and select the price for electricity.
Click “Calculate” and get the result. A 1080 Ti video card, when working through NiceHash, will bring in one and a half dollars a day.
Registration Guide
To register on the NiceHash cryptocurrency service, you need to go to nicehash.com and enter your email address there, as well as create a password. Then confirm that you have read the user agreement and complete registration.
A letter with a code consisting of letters and numbers will be sent to your email inbox - copy it and paste it into the confirmation field. Click "Confirm Now" and your account is created.
Personal account overview
To log into your NiceHash personal account, enter your email and password.
The main page of your personal account contains four main sections:
- Active workers.
- Active orders (initially the function of purchasing orders is disabled, it is enabled by confirmation via e-mail, this is done to increase the level of security).
- History of withdrawals and deposits.
- Current balance. BTC address used for deposits and mining.
Settings
Account
Select the currency in which the principal amounts will be displayed and select the interface language. Changing your account login password.
Activation of two-factor authentication for individual functions - logging into the site, purchasing, withdrawing funds.
Notifications
You can configure the system to receive notifications for certain events:
- order is 95% completed
- the order runs at less than 60% of the desired speed
- The order expires in an hour
- The order expires in 24 hours
- warrant canceled
- support tickets updated
- NiceHash service news
Purchase
Activation of the order purchasing function by confirming the code by email.
Sessions
Information about sessions - from which browser and IP address the last login was made. Configure automatic logout (from 5 to 300 minutes, default 120).
Withdrawal addresses
Information about the addresses used to withdraw money - their type and last use.
API
Obtaining keys for embedding the project API.
Exchange Bitcoin for fiat money
When the coins earned on the Nicehash platform are credited to an external wallet, you need to decide on how to convert them into fiat, unless, of course, the user plans to pay with cryptocurrency. All available methods can be divided into 2 groups - Internet banking and electronic payment systems.
Withdrawal to Qiwi and Yandex
Conversion is carried out using intermediary services - Internet exchangers. A suitable resource can be selected using BestChange monitoring. It is not necessary to register on this site. Just follow the instructions:
- Select Table as the display method.
- In the first column, select the Bitcoin cryptocurrency, and select the QIWI or YuMoney wallet as the receiving method.
- In the central part of the page all exchange options with the most favorable rates will be presented.
You need to take into account not only the course, but also the established limits, the number of positive reviews, and financial reserves. All indicators in the table can be managed using the menu located at the top. You can sort exchangers by any operating parameter. It is very difficult for conversion services to get into the Bestchange rating. This is a kind of quality mark.
The maximum allowed number of negative reviews is 2. After the third complaint is published, the service is removed from the rating. For a gross violation of the rules of service, the monitoring administration can exclude the exchanger without waiting for more negative reviews to appear. After choosing an exchanger, you need to open its website, register and conduct a transaction. On average, applications are processed within 5-15 minutes, but much depends on the congestion of the BTC network.
Withdrawal to Webmoney
Transactions using this electronic payment system are carried out in a similar manner. You need to select an exchanger using BestChange monitoring. Restrictions may appear depending on the wallet currency: WMZ, WMU, etc. It is possible that double conversion will be required. Webmoney is a reliable service that you can safely trust.
Withdrawing money to Sberbank
Conversion is carried out through BestChange. Only now in the “What do you get” section you need to select Sberbank, which is located on the “Internet banking” tab. A table with the best services will appear again, limits and rates will be shown. From among them, you need to choose the best resource, relying primarily on user reviews.
Withdrawing money to Privat Bank
The conversion procedure is no different from exchanging for Sberbank. A suitable intermediary service can be found on BestChange.
Profitability calculator NiceHash
The calculator has gained popularity not only among NiceHash users, but also among other miners, due to its convenience and clarity.
The link to it is in the footer on the official website nicehash.com/profitability-calculator.
Select your device (the list includes GPU, CPU, ASIC). Then select the currency in which the potential profit will be displayed and the cost of electricity (the cost of one kilowatt per hour).
Click the “Calculate” button and just below you will see the results - the estimated income from NiceHash for the day, week or month.
If your equipment is not in the list, then click “Show user settings” and specify the power of the equipment manually.
Passing KYC verification on NiceHash
If you want to rent power, then payment for services is carried out only through a wallet inside the service. You can top up your cryptocurrency wallet through Ether, Bitcoin, Ripple, and, in general, all the cryptocurrencies that are available in the wallet menu. But, you can also top up in Euros.
To do this, you will need to undergo verification - send NiceHash a copy of your passport, driver's license or international passport in photo format. If the passport language is Russian, Ukrainian, Kazakh, Turkic or any other than English, it is recommended to use a foreign passport with an external code.
As practice shows, foreign services do not recognize internal passports of CIS countries well, but do an excellent job with foreign ones.
Before sending the document, you will be asked to enter your full name, place of birth, place of residence according to registration, building number, postal code. You should also indicate the city and locality; residents of the CIS do not need to indicate their state.
The most scrupulous thing is that you will need to indicate your Taxpayer Identification Number (TIN), followed by the procedure for sending photocopies of documents for review and... drum roll... you will need to take a selfie.
Instructions: how to buy power on the NiceHash website
The buyer of capacity purchases mining services from other users. He can rent equipment, order power, or enter into a contract for cloud mining. To start mining, you need to take several steps:
- Register and log in to the Nice Hash service.
- Top up your account with at least 0.005 BTC. In this case, commission costs must be taken into account. The Bitcoin address can be found in the “Wallet” section of your personal account.
- Select an algorithm and currency for mining, as well as a suitable pool.
- Save the pool in your personal list.
- Create a new order on the market, specifying the selected algorithm and other parameters. The amount is paid in Bitcoins. Unspent Bitcoins remain in your wallet and can be withdrawn in total.
In order not to waste money, you need to approach the choice of algorithm with all responsibility.
Guide to Placing Orders
A new order can be created through the online market interface. There is a commission of 0.0001 Bitcoin for placement - this is done to eliminate spam transactions.
Then you need to select the correct algorithm and order placement server. And also the type of order - standard or fixed. These types differ from each other in the flexibility of pricing policies and restrictions, as well as duration.
All your created orders can be viewed on the corresponding settings page in your NiceHash personal account, and they are also displayed in the online market.
How to top up your NiceHash wallet
Make sure you have enough Bitcoins in your source wallet (0.005 + fee). The service accepts deposits strictly in BTC. An attempt to send funds in another cryptocurrency will result in their irreversible loss.
Go to the NiceHash wallet and click the green “Deposit” button. A window will appear with a QR code and a unique deposit address. Make a transaction using it from your Bitcoin wallet. Funds will be credited to the account as soon as the appropriate number of confirmations from miners is received.
Prices and algorithms
The page https://www.nicehash.com/pricing contains current power prices for the algorithms and coins presented on the service.
Prices are indicated for 1 day, but orders can be ordered for a longer or shorter period. The main thing is that the purchase amount is at least 0.005 Bitcoin.
Where is money mined through NiceHash stored?
After creating an account, the service creates wallets for storing mined cryptocurrencies. For example, Ethereum, Bitcoin, Ripple, ZCash, Litecoin and Bitcoin Cash. There are also coins less known to the general public, such as the Stellar token, EOC, ChainLink or Augur.
Immediately after registration, the service creates cryptocurrency wallets for each currency that the miner can mine.
Depositing in any cryptocurrency occurs by sending funds to the appropriate wallet. You top up Ether - send ETH to a separate wallet, top up Augur - through the Augur wallet, etc.
Instructions: how to sell capacity
In the NiceHash system, sellers are called miners or hardware owners. Any of them can mine, earning Bitcoins.
You need to install the free NiceHash Miner program on your computer and run it. Actions are minimal, the program automatically tracks the market. You can also connect other software that you are used to to the application.
NiceHash Miner
NiceHash Miner is an application that allows you to connect your computer or mining rig to the NiceHash market. With its help, you can rent out your computing power and make a profit for it.
The new version of the application - NiceHash Miner Legacy - also includes third-party miners, as a result of which the developers warn about using it at your own peril and risk. In addition, it is recommended to add the program to the antivirus exclusion list.
NiceHash Miner supports:
- AMD and Intel processors, AMD and NVidia video cards.
- Automatic switching from one algorithm to another.
- Possibility of withdrawing funds both to a Bitcoin wallet and to Payeer or Coinbase.
Guide on how to set up NiceHash miner (turn on subtitles and Russian translation):
How to start mining through NHOS
After installation, insert the USB flash drive into Rig and... that's it. The rig starts from the distribution, open the GUI and the farm is ready to mine cryptocurrency.
NHOS will launch an automatic benchmark of the system and select the most profitable cryptocurrency for the farm according to its capacity. As soon as the benchmark is completed, NHOS will begin mining cryptocurrency.
Appearance of the NHOS interface when first launched.
How to stop a video card via NHOS
Each Rig can be stopped by clicking on the red square - this will stop mining on one of the video cards and stop its operation. This is how Misha could avoid burning out his video card and causing a fire.
How to regulate the power supply of video cards via NHOS
Pay attention to the “High...” field - this is a button for controlling the video card’s power limit. If electricity is expensive for you, then choose a more economical option instead of “High”.
Buying/selling commissions
There is a 0.0001 BTC anti-spam fee for creating each new buy order. Plus 3% of the amount spent on the order. This 3% does not apply to the unspent amount of canceled applications.
For the sale of capacity, the commissions are as follows (charged when withdrawing to external wallets):
- if the balance is less than 0.1 BTC – 5%
- if the balance is over 0.1 BTC – 3%
And when transferring to another NiceHash wallet, the commission is 2%. The minimum balance is 0.0001 BTC.
FAQ
1) Where to download NiceHash miner?
On nicehash.com, but only after registration.
2) What is the commission in Nicehash?
NiceHash commission - 2%
3) Which is better Nicehash or Minergate?
Try both services and decide for yourself. Nicehash is designed for beginners and making things easier, Minergate is for professional cryptocurrency mining.
4) How much can you earn in Nicehash?
At the end of 2022 - beginning of 2022, the profitability of four 1080 Ti cards was 6.4 USD per day. To calculate how much you can earn on NiceHash, use the profitability calculator.
5) How to add Nicehash to startup?
Open the search in “Start”, enter “Startup”, drag the miner shortcut to the folder that appears.
6) Why does Nicehash not see the video card?
There is a problem with the video card drivers, remove the old drivers via DDU in all three ways, then install new ones. Removing the video card drivers will change the image output to Microsoft Video Adapter, the screen will work.
Withdrawing funds from NiceHash
There are established commissions for withdrawing money from the NiceHash wallet. Their exact sizes depend on the withdrawal method and amount:
- To BTC address 0.001-0.1 BTC – commission 0.0001 BTC
- To BTC address from 0.1 BTC – commission 0.1%
- On Coinbase from 0.001 BTC – no commission
- On Payeer from 0.001 BTC – commission 0.95%
Setting up mining on a PC.
We create a wallet for mining.
First, we need a convenient multi-currency crypto-wallet that is suitable for mining. Let’s leave out all programs and online wallets, this is not serious and unsafe. The only correct solution for storing mined cryptocurrencies is an Exchange, for example Binance, which is the largest and top. There are many currency pairs, so quickly exchanging any cryptocurrency for fiat is not difficult. Again, this is the point: we mine the most profitable coin on our video card, then we wait for a pump, even a small one, and exchange it for dollars or rubles in order to later withdraw them to the card using P2P trading with the minimum commission. This way we slightly increase the profitability. Read more here.
We register on the Binance exchange, all the necessary addresses of Bitcoin, Ethereum, Raven coin and other wallets can be found in the corresponding section “Wallet - Fiat and Spot”.
Select a coin from the list, click on the word “Enter” and get to the page with the wallet address.
ETH wallet on Binance
BTC wallet on Binance.
Starting Ethereum mining on Windows.
Binance has its own ETH mining pool. After registering on the exchange, go to the finance section and select “Pool” from the list.
Then create an internal account to mine ETH on the Binance pool.
On the next page you will see a list of addresses and ports for the pool, as well as the name of your worker and password for it.
Then we edit the config in the Poenixminer BAT file.
Here is an example of my batch file for the Phoenix miner:
PhoenixMiner.exe -pool stratum+tcp://ethash.poolbinance.com:1800 -wal 0xf4bb3744716ef33e47c98091ccd2d74a21e07835 -worker ETHSlava1.001 -epsw 123456 -asm 2 -dbg -1 -allpools 1 -mode 1 pause
Statistics on the pool will appear in 10-20 minutes.
Payments will be sent once a day to the balance of the Binance exchange.
Read about more detailed setup of Ethereum mining here.
Regarding video cards that are not suitable for Ethereum mining, I advise you to read the article on how to mine Raven coin. Typically this is a GPU with 4GB or 3GB of video memory.
If you do everything exactly according to the instructions step by step, then you will definitely be able to get everything running.
NiceHash mining setup.
Let's move on to setting up mining. The easiest way to mine cryptocurrency on your home PC is using the NiceHash service, thanks to fast payouts, in contrast to mining on a regular pool using a regular miner, because the minimum payouts are higher there. A farm of several video cards can relatively quickly mine a certain amount for the minimum payout, and one average video card will mine several times longer, does not apply to the Binance pool.
We register an account in NiceHash, connect two-factor if you want to be on the safe side. In your personal account settings, add a BTC or ETH wallet from the Binance exchange.
wallet for withdrawal from Nise Hash
Next, go to the download center and download NiceHash Miner.
You can also download a utility here that will write a special Linux-based NiceHashOS operating system to a flash drive, but first try the software for Windows. It will be easier for you to configure your video card under Windows.
Windows Defender will complain, go to the protection log and approve the file. Next, you will need to enter an address for exceptions.
We launch the program and log in, for example, I log in using my BTC wallet.
Go to the “Plugins” tab and download all the missing ones. These are miners for different algorithms.
Again, the antivirus can swear, so find a way to completely cut out the protection so that you constantly disapprove files due to a potential threat.
Go to the “Benchmark” tab, select all the necessary algorithms and run it.
Separately, you can test your processor in mining, and you will find out how much money it can earn per day.
After the benchmark, the most profitable miner for mining on your video card will start.
If your video card is capable of mining Ether, then do not forget to run the tablet for models starting with the GTX 1080.
OhGodAnETHlargementPill-master
(password from the archive “miningfaq”).
Overclocking a video card for mining.
In order to properly configure your video card for mining, you need to resort to the help of such an excellent utility as MSI Afterburner.
For Nvidia video cards, it is quite possible to overclock the core by +100 or +160 MHz, and the video memory to +400 MHz. Don't forget to increase the power limit so that the video card can consume as much electricity as it needs.
GTX 1080 Mining Settings
Below is a graph for controlling the FAN of a video card.
For video cards from AMD, it is best to reduce power consumption; I do this by reducing the core clock frequency, this is if the video card gets very hot. And so, read about the correct configuration and firmware of video cards in this section.
Mining on the processor.
CPU mining did not perform very well. My intel 8700k processor overclocked to 4.7 GHz can earn only $0.17 per day mining Monero.
Mining XMR on CPU
The minimum withdrawal amount from NiceHash is 0.001 BTC, which is approximately $50. So your video card will earn that much in about a month.
I do not advise you to immediately withdraw your funds; it is better to hold on to more ether until mid-summer 2022. The Ethereum development team will burn some of the coins, which will lead to a pump. The main Twitter account has already posted a bunch of posts with the hashtag #ToTheMoon.
The difference between NiceHash and cloud mining sites
On the one hand, the concept of working on the site is reminiscent of cloud mining, but there are key differences. With traditional cloud mining, power is purchased from the company, and in this service - from other people, with NiceHash acting as the guarantor of the transaction.
This method has a number of advantages:
- You can independently regulate the ratio of the number of powers and the duration of their action. In conventional cloud mining, contracts are purchased for a year, which is very risky - no one knows what position this or that currency will be in in a year.
- Flexible prices. This is the result of an economy that is formed naturally rather than set by a company.
- Payment upon use of capacity. The order can be canceled at any time, and the remaining money will remain on the balance.
- Free choice of pool.
- Detailed statistics on order status.
- Two different types of orders - one of them provides the opportunity for competitive mining or mining at a standard speed level.
- Working with the US and European markets.
NiceHash and remote farm management
NiceHash is a service for farms that allows you to make money by renting them out. The project has developments for miners - an operating system and a miner.
One of the services of the service is the sale of rental capacity, this is carried out through the connection of a mining client. A miner can rent out his rig for money or mine on his own.
Each user of the project is offered three ways to earn money: renting out the performance of rigs, connecting to a mining pool through a mining client, or renting mining capacity in pools with NiceHash support.
It all works through two interconnected systems: the mining client and the OS. To use the miner you do not need to install the OS and vice versa.
Does it make sense to install the NiceHash miner and OS?
Let's imagine this scenario.
Misha went on a hike in the forests. He has a farm at home, digging for Ethereum. To maintain secrecy, Misha does not tell anyone why there is a buzzing noise from his pantry. He answers the neighbors that it’s the pipes that are leaking.
Here Misha is chopping wood, and on the farm one of the cards has failed and is starting to melt - the power circuits have shut down and the card is overheating. An hour later, Misha’s neighbor calls and reports that smoke is pouring out of the apartment.
The apartment starts to burn. Firefighters arrive, put it out, find a farm inside, call the police, patrol officers begin questioning, find out the name of the owner of the apartment.
Misha receives a second call from the police station. Our hero understands that returning home is a bad idea and withdraws the funds remaining from mining to his wallet in order to lay low at least for a while.
But the card could be turned off remotely, or at least not using the tree for the farm stand. But even with an aluminum case, Misha would have lost one card for mining cryptocurrency. Remote control was created to prevent such scenarios from happening.
Advantages and disadvantages
pros
- The NiceHash platform has been operating stably for several years and has not been involved in any scandalous situations.
- Easy to learn for beginners.
- Selecting a mining algorithm.
- Minimal risk.
- Own wallet for cryptocurrencies.
- Natural economics of the market.
Minuses
- Payments are only in Bitcoin.
- The Nice Hash company provides an intermediary, which scares off some from a security point of view.
- Low profitability.
- Not suitable for long-term investment.
