When it comes to the universe of cryptocurrency, NiceHash is the name to remember as the self-titled, Largest Crytpo-Mining Marketplace. It is based on the concept of a sharing economy by connecting sellers and buyers of computing power from all over the world. Savvy participants in the new industry know how much they have to spend on utilities to execute transactions and perform mining operations. NiceHash has solutions on tap whether you are working in the realm of Bitcoin, Ethereum or Zcash.
The good news is that buyers can pay for their purchase in Bitcoin. They can order what they need and cancel at any time. Further flexibility is offered in the variety of pools available. If, on the other hand, you are a seller, you will be paid in Bitcoin at least once per day. Sellers can use their GPU, CPU, ASIC machine, or Rig farm.
Buyers have certain restrictions with Nicehash. The minimum order price is 0.005 BTC for every algorithm. You get massive hashing power in a short period of time. You never pay for dead, faulty configured rigs or invalid shares. For your fee, you decide how and when you want to buy hashing power and which pool it should be directed to. In other words, you choose which coins to mine, from Bitcoin, Maxcoin, and Litecoin to Vertcoin, TalkCoin and HellenicCoin. When you cancel, your funds are restored with no subtraction of any fee. While in the system, you can follow your workers and their performance with real-time statistics.
The website is easy to navigate and clearly marked. A customer starts by registering a new account and depositing the desired number of BTC. He or she then adds the mining pool, in effect directing the purchased hashing power. The third step is to set the bid or fixed price for mining and place a new order through the “marketplace.” You can place a standard or fixed order by selecting the right algorithm and server (Europe or US). The difference has to do with the flexibility of the price (as evident in the name, values are fixed in a fixed order). There is also a decision to be made on the duration of an order (a fixed order, for example, lasts only up to 24 hours). In all cases, there are terms and conditions to acknowledge. Finally, you will begin to monitor your order on the live marketplace.
NiceHash is known among cryptocurrency miners for great support, reliable and regular payouts, system stability, and extraordinary quantities of hashing power. Thus, it has a defined role in the cryptocurrency ecosystem by indirectly providing new coin creation and transaction validation on several different blockchains.
By C. Kotrozo, BIG Writer