NiceHash is a Slovenian based cryptocurrency cloud mining company. They aim to use the sharing economy approach, by pairing up sellers of hashing power with buyers of hashing power.
Sellers of mining hash power have the option to sell CPU/GPU, ASIC, and Rig Farm. When a buyer places an order, they will be paid with a relevant seller. The seller will then start to fulfil the order and start mining the coins. The sellers will earn Bitcoin for every share they have, they will also get regular payouts every day. All sellers will be fully anonymous and can decide when to start and stop mining at any time.
Buyers on NiceHash have a large range of cryptocurrencies they can choose to mine: Bitcoin, Ethereum and ZCash being some of the more popular choices. There is a minimum order price of 0.005 BTC for any algorithm and buyers can stop mining at any time. Buyers can also monitor their own statistics and choose which mining pools they would like to be a part of.
There are several fees that have to be paid on NiceHash. For buyers, these include a 3% fee on orders placed and a 0.0001 BTC fee for any new orders. For sellers, there are payout fees depending on the amount of BTC there is in the wallet with fees ranging from 2%-5%.
On top of this, there are withdrawal and deposit fees for the NiceHash wallet. The fees depend on the amount of Bitcoin you intend to withdraw or deposit.
- Pairs up buyers and sellers which allows for more efficiency.
- A lot of flexibility for buyers and sellers in terms of starting and ending mining agreements.
- Buyers have a large range of algorithms and hashing power to choose from.
- Was hacked before in December but has paid back 60% of all hacked coins.
- Many fees involved when using the services.