it's really up to your personal preference but using an internal wallet (like the NiceHash wallet) is what lead to so many people loosing money when NiceHash was hacked. Some prefer online wallets, some prefer offline wallets. As a rule of thumb, if the wallet isn't on the blockchain, don't use it. Use an external wallet, and for best security, use an offline paper wallets. We are already actively working on implementing alternative crypto-currencies for payments. ** Schedule is adjusted accordingly to blockchain conditions. Once per week for external wallet unpaid balances, greater than 0.01 BTC.** What I will advise, is to use your own wallet instead of the NiceHash internal wallet, but be warned that as of January of 2018, the volume of BTC transactions being too high and also, the transfer fees being high, NiceHash is sometimes withholding the external wallet payments (the weekly 0.01 BTC payments), meaning you might not get paid if the volume and fess are too high, NiceHash will skip a payment window in hope the next time the fees and volume might be lower.

The blockchain is basically a big public ledger, so if the transaction isn't on the ledger, it means that for all intent and purposes, the transaction never took place. And this is where people lost money, the internal NiceHash wallet isn't a real Bitcoin wallet, it's a wallet that is outside of the blockchain. NiceHash pays in Bitcoins, BUT you are NOT mining (creating) Bitcoins.įor those that might be new to this, NiceHash was hacked, and that resulted in the totality of their Bitcoins (and their client's) to be stolen (over 4700 BTC). The wallet is VERY important, this is where your payments are going to be sent. Now that's out of the way, first things first, things you will need to start mining What to mine (more complex than above, give you more options to tweak and is more accurate)Ĭryptocompare calculator (you will need to know your GPU hash rate with specific algorithms, different from the 2 above where you can simply select your GPU) NiceHash profitability calculator (quick and dirty, might not be 100% accurate but is good for estimations) Don't forget to enter the correct amount you're paying for you electricity. Proceed at your own risk.īefore you start mining, keep in mind that not all GPUs are profitable depending on your location because electrical fees, there are a few profitability calculators out there, but here are a some that you can use to see if all this is even worth it for you. I assume no liability for anything that you do as a result of this guide. 'A guide on mining with Nicehash?' I hear you say, bear with me here, since NiceHash is here to stay and since 'it's so simple anyone can use', might as well make a guide explaining the do's and don't that some might overlook when using such softwares!

Nicehash for linux amd gpu