Whereas the traditional cloud mining market is chock full of scams and ponzi schemes, Nicehash is a decentralized marketplace where buyers and sellers can interact securely.Īnother benefit of using Nicehash to sell computing power is that the market entry threshold is relatively low compared to other options. There are several advantages to using Nicehash. The platform had its share of controversies, including the co-founder Matjaz Skorjanc’s criminal past and the loss of 60 million dollars worth of Bitcoin after a cyber attack in 2017, but it still remains a popular and well-received service for crypto miners and traders, partially because Nicehash actually reimbursed customers for their stolen funds. Nicehash is a cryptocurrency mining and trading platform founded in 2014. We prepared a small guide to explain how Nicehash works and how you can earn Bitcoin through the platform. While the profits may be lower compared to mining your own cryptocurrency, the ease of use and stability of earnings make Nicehash an attractive option, especially for cryptocurrency mining beginners without high-end mining rigs.
Buyers name a price for the cryptocurrency they want to be mined and sellers rent their computing power through the platform. Nicehash is a hash power marketplace that connects buyers of hash power with sellers – or miners, in other words. Are you interested in earning Bitcoin, but you don’t have an expensive mining rig? Or maybe you already own a mining rig, but you don’t want to deal with the more technical issues such as calibrating a mining software and joining a mining pool? Well, you are in luck, because Nicehash allows you to rent your computing power to the highest bidder and make a profit without jumping through technical hurdles.