NiceHash

 What is NiceHash?

NiceHash is the largest hash power broker marketplace, connecting sellers or hash power miners with hash power buyers. Hash power is a computing resource that describes the power your computer or hardware uses to execute different cryptocurrency proof-of-work hashing algorithms. The NiceHash service is unique in that it only connects different end users and does not offer any cloud mining options - meaning NiceHash does not own or rent any mining equipment.

How to Mine with NiceHash

The easiest way to get started in mining is to use NiceHash. NiceHash was launched in 2014, right around the time of the first major peak in cryptocurrency mining (second if you want to include Bitcoin's initial boom to $ 32 per BTC in 2011). Before NiceHash, getting into coin mining was a bit more complicated - as we'll detail below. NiceHash has dramatically reduced the barrier to entry and takes the worry out of knowing which part (s) are mine. You effectively rent your PC's hashing power to other users, who can choose what you want to mine, and you get paid in Bitcoin. NiceHash takes a small portion of the potential profits and your PC can be up and running in minutes.

The short summary is that you need to sign up for the service and you need to have your own Bitcoin wallet somewhere . Then you download the NiceHash mining software, configure it to mine your BTC address , and you're good to go. Your BTC accumulates on NiceHash and you can transfer it whenever you want - which is a good idea as you never know if or when another hack might happen.

How to Mine with a Mining Pool 

The first choice is which mining pool to use. In general, you will get a more stable income by switching to a larger pool, but there are several reasons for not doing so. Most of the reasons why no pool wants too much control over the overall network hash rate are good, so we recommend going for a larger pool.You need to set up your account, choose which mining software you want to run, and then configure your output settings. This simplifies the many steps, all of which vary slightly depending on the pool you use.

The big difference between a nice hash and your regular mining pool is that you need a separate wallet to store your coins - you don’t want to leave coins with the pool indefinitely. Although it is technically possible to exchange your currencies somewhere like Coinbase, it is better not to go directly to the trading platform for my payments.