Today, many people want to try themselves in the cryptocurrency sphere and even start mining. With the current computing power of the Bitcoin network, you need to have the computing power of a mining farm to compete with other miners for the reward and pay for the power consumption of your hardware. To start mining without buying Nvidia GPUs (graphic cards) and mining software, raising your power costs, and get hashing power needed, try to use mining pool services.
Since there’s a great social interest in mining, there’s also a great number of mining services you can find online. Even though most of these services seem very similar, there are unique ones among them. In this article, we will talk about the service NiceHash, which has already won miners’ hearts. We will discover how to download it, make a quick setup, and embark on a profitable mining path.
The NiceNash service basic information
This review of the NiceHash miner service should start with a small background. NiceNash was developed and released to the masses as a capacity to implement the mining in the 2014th year. That means that they’ve entered the mining hash power marketplace at its very beginning and had an opportunity to process and extract a lot of data before they’ve made their product.
Developers tried to take into account all the wishes and needs of cryptocurrency users and provided:
- Regular withdrawals;
- The united market of buyers and sellers;
- Technological user support;
- Increased level of funds protection and confidentiality;
- Uninterrupted power delivery mechanism.
Thanks to this approach and other factors, the NiceHash cryptocurrency service quickly gained its connoisseurs and reached the world level of the mining software market.
To date, the NiceHash multi-currency service is the largest online resource that supports more than 2 dozen algorithms and offers its users ample mining opportunities.
If you also want to join cryptocurrency mining, you just need to become a user of a special application – NiceHash Miner based on NiceHash OS. After registration, you can control your funds, track data through your account and receive system messages that the mining is offline.
The NiceHash miner service website is https://new.nicehash.com – it functions as a backbone network. He takes part in forming a new number of monetary units, which determines the exchange rate and the level of complexity of its extraction.
If you start to study the NiceHash online service in more detail, you may have an opinion that the developers could know in advance all your preferences and implement them.
Features of the NiceHash online service
What is so special about NiceHash, and how does it differ from other similar services? First of all, the online service NiceHash is not a template version of the digital client for storing cryptocurrency or operating with it, which you could get used to during your time on the network. The service does not sell capacity at a fixed price, nor does it own its own resources for sales. In fact, the NiceHash service is an intermediary between the seller and the buyer.
To make it easier for you to understand what NiceHash is, you can compare it with a certain similarity of the exchange – its commercial activity is carried out to purchase and sell various cryptocurrencies. And if other services set a fixed price for their goods, which serve as a cryptocurrency, then NiceHash miner is an exchange where the main goal of each user is the most profitable cryptocurrency purchase or sale.
NiceHash Quick Miner
This product is using the EXcavator mining software for graphics card mining (GPU) and even CPU mining on your PC with XMRig. You start to mine immediately with no benchmark tab, no additional fees for miners, and no additional software to fasten your graphics cards.
You also will get a special tool to automatize your overclocking and fan speed settings. The WatchDog will improve your mining performance and hash power, setting your GPU clocks right with fine-tune. If the mining stops, this feature will restart it with a special algorithm.
Start mining with NiceHash Miner
To explain how to get started in the NiceHash service, we’ll look at an example of how to start a mining activity in outsourcing. The step-by-step example instruction is as follows:
- In the main menu of the site, we find the section “Getting Started” and click on it;
- We search for NiceHash Miner and download the archive;
- Unpack the files and run the installation wizard;
- Follow system prompts;
- Accept the License Agreement and click “Finish.”
This completes the procedure for installing NiceHash Miner — you can start exploring the service’s capabilities using the application with the same title name.
NiceHash Miner Setup
This block is set for those who might need a closer look at the setup.
- Finish the download of needed files, extract them and go to the next step. Find the folder on your PC where you’ve installed your NiceHash miner and add this folder to the exceptions list.
- After you’ve launched your NiceCash, you will only need to enter the wallet address. The company uses your bitcoin wallet address as a key for the connection between the future miner and the platform.
- Also, to maintain the nice mining flow inside the NiceCash OS, you’ll need to create a worker name. This name will be used for your identification in the system. You can easily change the name of your worker in general settings anytime. To enter the General Settings, check out the top right corner of the page.
- Using General Settings, you can change your Worker Name and your Wallet Address, Language, Time Unit, Theme, Server Location, and Currency. To enable Auto Update of your NiceHash miner and its plugins, you should also go to General Settings.
- Advanced Settings are set for more experienced miners. This section of the Nice Hash dashboard allows you to enable Autostart, Run on Startup, and many more advanced features. You can even allow Multiple Instances.
- To know more about all of the settings, just click on the question mark nearby, otherwise start mining right away. If you’re satisfied with your NiceHash rig performance, remember to save the settings chosen.
- Not all mining devices report their Power Usage. But if they do, you will see the value of it in Watts on the NiceHash dashboard. You might know that Nvidia cards do report their power consumption, while AMD cards do not. NiceHash miner allows you to change this value manually. This might help you to improve your profits if you start mining automatically on default settings.
When you run NiceHash Miner for the first time, it will certainly run the benchmarks. It could take about ten minutes. It depends on different factors. For example, it depends on the type of hardware or benchmark type you use. Benchmark will allow you to switch the mining algorithm depending on your hardware performance.
How does NiceHash Miner work?
What do you need to know about NiceHash miner to start the mining? How is it profitable to conduct transactions? How to mine on GPU? How to start mining with CPUs in default mode? What is the algorithm? How simple is setup? What is the value of the best crypto to mine? How to assess the performance? How to build a mining rig? Are gaming GPUs like Nvidia worth it? What risk can I face? These are just some of the questions you will come across when studying the possibilities of the NiceHash. We will try to explain most clearly and in detail everything important.
The NiceHash miner service uses two basic principles for performing operations: pool mode and cloud mode. Below, we’ll look at each of them and figure out what’s what.
As already mentioned above, the NiceHash miner service is an intermediary in transactions for cryptocurrency purchase and sale and provides a “field” for actions. Users are engaged in coin mining on virtual pools. Miners are offered two ways of mining: selecting and adjusting the algorithm for themselves or using multi-mining with automatic switching.
Why do we always talk about algorithms and not about cryptocurrency, you ask? The answer is simple: the NiceHash miner does not sell and does not buy Bitcoins. It only provides resources for the implementation of mining and conducting transactions. You can set up your equipment for an algorithm for finding coins and rent more powerful hardware from other users and set it up for production.
The main difference between working in pools is the need for registration. This is necessary – when you rent equipment from other users, you must have your own wallet with a balance of Bitcoins there to pay for services. Your own Bitcoin wallet will help you to purchase hashing power easily. Remember to keep your wallet address safe. If some crook has it, you risk losing your funds.
The registration procedure is standard and will not raise questions even for the beginner:
- Go to the site https://www.new.nicehash.com;
- Select the registration section;
- Fill in all the fields suggested by the system;
- Pass verification procedure.
After completing the registration, you will open an order window, and you will be able to start full-fledged work.
Advice! To make it easier for you to navigate at the beginning of work, we strongly recommend that you first add the addresses of the pools and only then purchase the capacities.
In the “Live MarketPlace” section, you can manage orders. Use this page to change the settings of your orders and set the default limit. Buttons for creating orders in the accelerated mode are at the top relative to the order table: blue for standard and green for fixed.
The Advantages of using NiceHash
Why should you choose the NiceHash miner? To answer this question, we give several arguments:
- Online service does not provide a fixed cost of capacity – you independently choose the price of the cryptocurrency that suits you and conclude a deal;
- There is no need to rent equipment from dubious organizations – you do this through cooperation with the same users as yourself. More experienced and progressive users have already managed to create their own capital and are not at all against receiving income from renting their equipment, which allows people that are new to the cryptocurrency market to start easily;
- Transparency of the whole work – you can know the size of your earned capital at any time. At the same time, payments are made four times a day;
- The ability to watch over the trades and influence the value of goods, the demand for them, and the quality of offers.
Conclusions about the NiceHash miner service
What about the online service NiceHash? Unique – yes, progressive – without a doubt, many advantages – one more “yes.” However, its uniqueness lies precisely in the main thing – in principle, the work of mining. As an intermediary, the NiceHash provides the user with ample opportunities for transactions. Here you will find things to do for both beginners and experienced professionals.
If you try yourself in the cryptocurrency world, you can stop at the usual mining, using a variety of “hardware” and getting a reward in Bitcoins. If you know your potential and are confident in your skills as the miner, then at your disposal are impressive quark-type capacities or x11 – mining on pools or solo provides an opportunity to mine coins and lease power for mining. We can say with absolute certainty that the service is unique and has incredible potential.
Providing direct contact of P2P type, NiceHash miner service can satisfy the requirements of every user:
- Mining on own equipment through NiceHash Miner;
- Rent of facilities and power from other participants;
- Mining on other pools;
- Experiments with forks;
- QuickMiner for GPU mining on your PC with fan speeds and GPU clock settings algorithm.
In general, NiceHash is a great service to start mining, even if you’re new to cryptocurrency mining. NiceHash miner allows you to buy and share computing power. More of that, you can try yourself in mining without any specific hardware. You can use the CPU and graphics card of your PC (GPU) and even the Nvidia and AMD cards to mine with QuickMiner and gain profits.
How do you use NiceHash miner to mine?
First of all, you’ll need to choose the cryptocurrency you want to mine and the mining pool you want to join then, and you need to set all the settings, create pricing, and place your order. After that, this order is sent to the other miners connected to NiceHash. They can trade the power of their CPUs and gaming GPUs (Nvidia, AMD, etc.) they use with NiceHash Miner or other hardware connected to the PC, like ASICs.
Can you make money with NiceHash?
You might already know that when the math problem is solved and you get to add information to the new block, the Bitcoin system will generate a reward for the successful miner. Profits will depend on the type of hardware you use and the overall power you provide to NiceHash Miner. If you want to calculate the approximate profits of your enterprise, you can use a profitability calculator to know how much you can mine in a day or a month if your type of hardware is not presented in the list, download, and setup the NiceHash Miner to know the possible income by yourself.
How do I spend NiceHash Bitcoins?
As soon as you receive the reward on your NiceHash wallet, you can transfer or exchange. The service that helps you to turn your Bitcoin into another currency is called NiceHash Exchange. It supports Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), and ZCash (ZEC). You can even exchange BTC to EUR and send them to your bank account. Also, NiseHash allows you can buy some items with BTC. For example, you can buy some hardware from CaseKing on BTC you’ve earned using NiceHash.
How to transfer bitcoin from NiceHash miner to Coinbase?
First, you’ll need to access your bitcoin wallet. To transfer funds, you’ll need to find the “Withdrawal” button. Make sure that you’ve chosen the right address in the “Withdraw to” field. In this case, it will be your Coinbase account. Usually, this operation takes about 5 minutes.