NiceHash is a new program that gives the users an opportunity to sell their hashrate, which their mining hardware generates, or in other context mine the specific coin with supported crypto algorithms. This services is not cloud mining or mining rig leasing from a central provider, users can enter the website and follow the prompts or information on the frequently asked questions. NiceHash acts as stratum proxy between the pool that the hardware is mining and the user. All the user has to do is set up a the right stratum server for NiceHash on the miner and depending on the algorithm the miner utilizes they can just log in with the bitcoin address as the username and thereafter enter a password of their choice. Moreover, it is not necessary the users must register in order to sell the hashrate, however, for buying the users have to generate an account where they can deposit bit coins for the purchase.
Currently the program supports SHA-256, script, X11 and script adaptive Nfactor algorithms and the user can purchase the hashrate and point at their preferred choice of mining to purchase the item. All payments in this programs are made in bit coins and no other crypto currency is supported , it is more or less that when selling the hashrate the use is mining in a multipool where regardless of the kind of mining or what is mined they get paid in bit coins. Currently the X 11 hashrate is the best option for buyers to purchase and users can purchase it by depositing money on their bitcoins account.
The page is created in a way that it attracts the clients and is easy to use, with the modern look and easy navigation. The users can select the algorithm that they want to purchase their hashrate, thereafter they can select the amount that they want to pay, and here it requires that they deposit bit coins in their account first. The user can select the maximum hashrate that he or she is getting per second and set the price that they are willing to pay in bitcoins per Gigahash per day. The front page offers different algorithms and the rates that are being utilized, all the user needs to understand is how to calculate the market price and see how it is moving. Based on the settings they can get an estimate for the total hashrate that will be available to them. It is imperative that the user understand how the algorithm works mainly because if the pool selected is working and the hash rate is not limited the hash rate thrown in the pool may be so high that the pool may collapse .
NiceHash offers the clients an opportunity to limit the hashrate that they will be using regardless of the total amount to be purchased. Moreover, the users can purchase 1GHS worth of the X11 hashrate, and they can mine for ten minutes, sixty minutes, a day or more depending on the total spending limit. This feature allows the users to purchase a high amount of hashrate for a short period and posses it immediately rather than purchasing megahashes and mine for several months. Moreover, the users can spread the hash rate limit to cover bad luck and minimize the risks of bringing the pool down.
Ease of use
When an order is activated the user can see the progress as well as edit some of the parameters to suit their needs and requirements, moreover they can cancel it before it is fully executed. The price that is paid for GH per day can be edited and you can cancel and recreate the order with a lower price. The hash rate set can be changed and the settings are implemented instantly, as new values will appear on the users account interface. The users can also tract the list of orders on the homepage they are usually marked in blue so it is easier to spot and monitor the progress. It is recommended that account holders monitor the market to get maximum benefits of bit coins paid for the hash rate.
The customer support team responds quickly to requests from the clients within hours, they are friendly, professional, and helpful. Moreover, the prompt reply to tickets is comprehensive and will cover all the questions that the client may have. The FAQ sections gives new users and opportunity to learn about the program, moreover the inbuilt calculator can help you determine what to expect in earnings.
NiceHash is one of the best alternatives for cloud mining and multipool service and if used in the right manner the user can reap full benefits of the program. It provides the users with an opportunity to mine a lot of new coins at a time giving you power to maximize the profit.