General information about Nicehash.com
If you are the one who want to try your hand at cloud mining, Nicehash can offer some complex solutions to get good profit. Nicehash is a mining pool and also a place where it is possible to sell and buy hashing power. There is also a mining farm here to offer its clients some cloud mining services.
Thus, they claim that all worries associated with physical mining will be reduced and the hashing powers will be brought to their customers directly.
Since 2014 Nicehash has been providing its services on the cryptocurrency market. There is an opportunity to find a lot of necessary information about mining and digital currency on the website, but you will hardly see any useful facts about the identity of the company owners or any special details about the mining farm where the whole mining process takes place.
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No info is available about the exact location of their servers, but it is known that they are located in the USA and Europe.
Take note that even after browsing the Internet you will not discover any new facts about the company, but it is good that there are not so many complaints and scam reports related to Nicehash.
They are using CloudFlare as web protection and Bit Go bitcoin wallet for the security of the mined bitcoins because they care a lot about the security measures.
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Algorithms anf Coins:
You can buy SHA256, Scrypt, X11 and other algorithms at Nicehash.
If you become a client of Nicehash, you will be able to use complex service they offer.
The power of different miners all over the world is combined into their only mining pool. Also, the hashing power of the pool can be boosted due to adding of the mining facility available to rent out in terms of cloud mining services offered by Nicehash.
There is an opportunity for the users to sell and buy hashpower on the market developed by this cloud mining company.
Though some people think that this company is based on investments, it is not exactly true, since it is the model of advanced cloud mining experience that Nicehash is based on, comparing to other cloud mining providers. They are trying to bring the complex services to their clients instead of emphasizing the profitability nature of mining.
All clients are offered two types of contracts to choose from if they want to purchase hashing power at Nicehash. With the standard bidding process the clients can bid for a price that they want to pay. If someone in the market makes a higher bid on the order, they receive the order.
Thus fair market prices of the mining contracts are ensured, and cheap prices for lucky customers are possible. Even the automatic order management is available through Nicehash, and that means that the bidding can go as high as the clients let it go.
The fixed price contract is another option here, and it is for those who want to know the prices of the cloud mining contracts beforehand. After the fixed price contract is paid, the hashing power of the contract will not change during the lifetime of the order.
Only bitcoin is accepted as a payment method at Nicehash, and, unfortunately, there is no possibility to choose wire transfer or credit card payment as an option.
Shape Shift as an option is offered here in case you would like to convert altcoins to bitcoins to pay for the services.
Using the PPS method clients can be sure that they receive payouts based on valid shares at Nicehash. PPS is a good method to distribute the earnings within the pool, when the hashing power is collected from the miners around the world and from its own mining facility. Thus, every miner receives some profit according to how much it was contributed to the total hashing power. Usually, the payouts take place 4 times each day.
Nicehashbot, which is an open source software that can help anyone create a mining platform, is offered by Nicehash on GitHub. Also, on the website you can find a lot of information about how to make mining profitable. The registered clients can use a referral system. To do this, one has to request it via email from the support team. As soon as it is enabled, there is a possibility to earn commission from each new order that is made by their referred new customer.
? Fees and Pricing Schedule
Only registered users are able to see the fees for cloud mining contracts. But the registration itself will not take a lot of time, since you only need to provide your email address and a password.
The cost of the cloud hashing contract is based on the amount that was bought. No individual packages are available, and it is possible for the users to choose whether to set the purchased hashpower based on GH/s or the price in BTC.
The price of the cloud mining at Nicehash is as follows:
- fixed priced contract costs 0.0305 BTC per GH/s per day
- standard bidding contract costs from 0.0264 BTC per GH/s per day
There are two different servers that the clients of Nicehash can choose from, based on their location in the USA and Europe. All this is done because the most optimal mining activity is reached only when the good connection speed is available.
The US based fixed contracts are priced a little bit higher than the European ones interestingly, while the bidding contracts are usually cheaper. The standard bidding contracts start from 0.0254 BTC per GH/S, and the fixed contracts are 0.033 BTC per GH/s per day.
As a rule, Nicehash charges 3% fee on hashpower transactions. As their website states, this fee is charged from each side of the transactions: so the buyer and the seller have to pay the processing fee. Transferring the hashpower is quite expensive.
Go to NiceHash.com
Nicehash.com User Experience
This website is translated into three different languages: English, Russian and Chinese.
Detailed information on setting up mining at home, trading hashrates and purchasing cloud mining contracts is provided on the platform.
Probably all the answers to the questions that the clients might have you can find in a well structured FAQ section. But sometimes it is not easy to find the necessary info since there is too much of it crammed on the page.
How to start with NiceHash (Official Guide):
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Hashpower trading option.
Multiple altcoins mining in the pool.
A lot of information about services and products available.
Complex product structure is technical, not for newbies.
Only bitcoin payment option is available.
Different prices for European and US customers.
If you join the Nicehash platform, there will be a possibility for you to get a complete experience in cryptocurrency mining.
Nicehash users are able to sell and buy hashing power on the live market. Contracts with a bidding option and fixed priced contracts can be purchased at Nicehash.
A lot of information for starting mining and joining this service is available on the website, but users have to be careful before signing up with Nicehash anyway, since not much is known about the background of this cloud mining company.
Go to NiceHash.com