NiceHash started as a side project for my business partner and me. We were both university students when we launched the company in 2014.
Fast forward to 2021, and NiceHash has made it as a leading crypto mining and trading platform. Crucially, we wanted to develop a mining platform that is secure and offers the safest crypto mining in the world.
Here’s why we’re getting more and more miners, ranging from beginners to experienced veterans.
Why use our crypto mining platform?
Our platform connects sellers or miners of hash power with those who want to buy it. In fact, NiceHash is the biggest hash power broker marketplace going.
But it’s not a pool of miners – rather miners sell hashing power to buyers who then redirect it to the pool. So, why are crypto miners choosing to use NiceHash instead of mining directly to a pool?
Here are some of the biggest advantages for miners using our platform instead of mining directly.
Advantages of using NiceHash
NiceHash pays out quickly compared with direct mining
The platform has a low pay out threshold, which means that it’s achievable within just two hours if the miner is using an average rig.
The process uses proprietary internal accounting that pays out small amounts of BTC (Bitcoin) from buyers to miners. And the minimum amount that can be paid out is just 0.00001 BTC. This is equivalent 1,000 Satoshis, which are the smallest possible units of BTC, named after the inventor of Bitcoin.
Conversely, pay out thresholds for mining pools are much higher – starting at 0.005BTC (equivalent to 500, 000 Satoshis). An average individual miner would need around two weeks with a decent GPU and rig to get to this threshold.
It’s also worth knowing that the transaction fees to the user’s wallet from the pool will take away more than half of this amount. These transaction fees can reach more than £30.
Mining payouts are possible every four hours
Because we use internal accounting systems, we can make mining payouts every four hours as long as the minimum threshold is reached.
On the other hand, mining pools make payments just once a day (providing the threshold is reached). However, if the individual miner can’t get to that minimum, then the payout can take days or even weeks.
NiceHash payouts are in BTC
Buying hashing power uses Bitcoin, which is why all miners are paid in BTC by NiceHash. This makes us very popular with those who prefer to work in BTC due to its relative security.
You can withdraw in Euros free of charge
NiceHash users can also withdraw mining earnings directly to their bank account in Euros.
Easy export of tax reporting data
Users can easily export everything they’ve earned on the platform for Tax reporting.
You choose when you want to withdraw earnings from mining
Mining earnings go straight into your NiceHash wallet. This gives you control over when you withdraw and if you wish to go ahead and trade on our Exchange.
So, if the fees are too high for your liking, you just wait till they come down before making a move. Or you can trade your mining earnings for a different crypto and withdraw that. Basically, you’re in control.
This was a real driver for the development of our platforms. We wanted a crypto mining platform, along with an exchange, that puts users in control.
Reward system for pay per share (PPS)
NiceHash is the only platform that uses a true PPS reward system where each share results in a payment to the miner.
This makes it ideal for miners who like to dip in and out and who aren’t hashing 24 hours a day.
Pools generally use more complex systems that aren’t worthwhile for miners who aren’t doing it constantly.
Accessibility and usability
I wanted NiceHash to be simple, comprehensive and accessible for anyone – whether you’re a total newcomer to mining and hashing or a seasoned veteran.
We provide a super easy, quick way to give a try through the QuickMiner Tryout. It’s accessible through your web browser and gives you a real insight within about ten seconds.
The QuickMiner tool we’ve developed is the most secure way of mining crypto. It’s our proprietary technology and signed off by NiceHash. You’ll find that most 3rd party developers within this sector are unnamed and untraceable.
If QuickMiner isn’t advanced enough for you, move on to NiceHash Miner. More advanced, it’s still easy to use. NiceHash also covers Linux-based software with NiceHash OS. This Linux based mining operating system is easy to instal with our Flash Tool. It really is as easy as that…
Every feature we offer auto-updates, so you just need to set it up and then you can leave it. We only make money if you are, so everything we develop is designed to be simple to use and something that you want to use.
We wanted to take away the mystique of cryptocurrency mining and open it up t everyone.
Trade cryptocurrencies with NiceHash’s Exchange
Your earnings are paid in BTC, but if you want to swap them into a different crypto, such as Doge, Raven or Ethereum, then you can trade on our Exchange.
Why security is so important to us
I set out to create and develop one of the most secure cryptocurrency platforms at a global level. And today, NiceHash is an industry leader in innovative crypto mining products and solutions.
For example, we only update 3rd party software that is digitally signed and corroborated. This means there is no chance of any malicious software getting into the system to cause chaos.
The NiceHash team of experts has a collective experience in dealing with security and works with some of the best security firms in the world, 24 hours a day, 365 days a year.
Here’s how the team protects miners
Users can enable a 2-factor authentication on their account, which guarantees only they can access it.
Any strange activity on the account is automatically flagged up – every time you want to withdraw, we also ask for confirmation so no one can easily access your internal wallet.
An encrypted connection to our services and website, I guaranteed, and QuickMiner has open-source code signed by one of the most robust certifications. We’re actually the first mining platform to provide this level of security for our users.
The whole system is monitored every minute of the day for any breaches in security or suspicious activity.
You can talk to the team anytime
NiceHash is also unique in that we provide dedicated customer support from human beings across nine languages. We want to help with whatever issue you may have with mining, your rig, new hash power orders or crypto exchanges.