1. Nicehash Miner Update
2. Nicehash Miner Settings

Starting with version 2 of the NiceHash Miner, the Miner application is optimized for GPU's that are based on the Maxwell and Pascal architectures. These architectures support a specific set of features, known as the SM CC (Streaming Multiprocessor Compute Capability) version 5 or greater. NiceHash mobile app is an app that lets you manage your NiceHash account and your NiceHash activities. Manage your mining rigs on the go!

NiceHash is a Slovenian cryptocurrencyhash power broker with an integrated marketplace that connects sellers of hashing power (miners) with buyers of hashing power using the sharing economy approach. The company was founded by Marko Kobal and Matjaž Škorjanc in 2014. USD$64 million were stolen from the company's customers in December 2017.^[1][2] The company is headquartered in Maribor, Slovenia.^[3][4]

Buyers rent computing (hashing) power through NiceHash's online platform. Sellers provide hashing power by connecting to the NiceHash marketplace with NiceHash's own mining software.

Business model[edit]

• When running, NiceHash Miner is connected to NiceHash platform and NiceHash open hashing power marketplace. Buyers select the algorithm and the speed while users or miners running the NiceHash Miner software fulfil that order by mining (hashing) - providing computing power to the network and get paid in Bitcoins.
• NiceHash is an exchange for mining power. Instead of mining a coin directly, NiceHash miners sell their mining power to the highest bidder. This gives miners a more steady income than mining in a small pool, so in some ways it is less risky. NiceHash also now provides software that makes it easy for miners to get started.

Hashing power buyers[edit]

Buyers select the crypto-currency that they want to mine, a pool on which they want to mine, set the price that they are willing to pay for it and place the order. Once the order is fulfilled by miners who are running NiceHash Miner on their machines, the buyer gets the crypto-currency from the pool. This means that buyers are not required to run complex mining operations themselves, and there is no capital investment in mining hardware required.

Hashing power sellers (miners)[edit]

Nicehash Miner Update

Sellers or miners have to run NiceHash Miner software and connect their mining hardware or just regular PCs to NiceHash stratum servers^[5] and to the buyer's order. Their hashing power is forwarded to the pool that the buyer has chosen for mining. For each valid share they submit, they get paid in bitcoins^[6] for the price that is determined by the current weighted average^[7] and refreshed each minute. This is all done automatically and the process does not require complex technical skills.

In return for providing this service, NiceHash takes a percentage or a fee from each group (buyers and sellers).^[8]

Service disruptions[edit]

On December 6, 2017, approximately 4,700 Bitcoins (US$64 million at the time of the hack) were stolen from NiceHash allegedly by a spear phishing attack.^[9] Due to the open and transparent nature of the blockchain, the security breach received an influx of attention as the stolen sum and movement of bitcoins were visible to anyone on the internet.^[10]

On December 21, 2017, Marko Kobal resigned as the CEO of NiceHash.^[11] On that day, the company also re-opened their marketplace after the December 6th hack.^{[citation needed]} NiceHash reimbursed the affected users through the Repayment program, and 100% of the stolen funds were reimbursed by December 16th 2020.^[12]

Controversies[edit]

NiceHash's founder Matjaž Škorjanc is a creator of malware Mariposa botnet, which infected over 1 million computers with Butterfly (mariposa in Spanish) Bot. The goal of Butterfly Bot was to install itself on an uninfected PC, monitoring activity for passwords, bank credentials and credit cards. Slovenian police arrested Matjaž on charges of distributing the malware in 2010. Matjaž was found guilty and served four years and ten months in a Slovenian prison. On June 5, 2019, US law enforcement opened a case in the operations of the Mariposa (Butterfly Bot, BFBOT) malware gang.^[13] The FBI has moved forward with new charges and arrest warrants against four suspects, including Matjaž Škorjanc.^[14]

References[edit]

1. ^Browne, Ryan (7 December 2017). 'More than $60 million worth of bitcoin potentially stolen after hack on cryptocurrency site'.
2. ^Russell, Jon. 'Bitcoin mining marketplace NiceHash loses tens of millions of dollars following hack'.
3. ^'About NiceHash'. NiceHash.
4. ^Lee, Dave (8 December 2017). 'Millions 'stolen' in bitcoin heist' – via www.bbc.com.
5. ^'Which Stratum servers are available? - Mining on NiceHash'. NiceHash. Retrieved 2017-12-29.
6. ^'What is the PPS reward system? - Earnings & Payments on NiceHash'. NiceHash. Retrieved 2017-12-29.
7. ^'Available algorithms on NiceHash'. NiceHash. Retrieved 2017-12-29.
8. ^'Fees - Service on NiceHash'. NiceHash. Retrieved 2017-12-29.
9. ^'Millions May Have Been Stolen in a Bitcoin Marketplace Hacking Heist'. Forbes.
10. ^'Bitcoin Address 1EnJHhq8Jq8vDuZA5ahVh6H4t6jh1mB4rq'. blockchain.info. Retrieved 2017-12-29.
11. ^'Marko Kobal Resigns'. LinkedIn. 2017-12-21. Retrieved 2017-12-27.
12. ^Campbell, Mark (December 17, 2020). 'Nicehash has claims to have paid back all of its users following its 2017 hack'. Overclock3D.
13. ^'Four International Hacking Suspects Charged with Racketeering'. US Department of Justice. 2019-06-05. Retrieved 2019-06-11.
14. ^'Eight years later, the case against the Mariposa malware gang moves forward in the US'. ZDNet. 2019-06-11. Retrieved 2019-06-11.

External links[edit]

• nicehash on GitHub
• Nguyen, Linh (December 12, 2017). 'NiceHash CEO speaks out after $60m cryptocurrency hack'. WikiTribune. Retrieved June 5, 2018.CS1 maint: discouraged parameter (link) licensed CC-BY-SA

• Are you searching for the best Nicehash alternatives?

You are in the right place but before that, let me tell you one thing.

In Bitcoin’s first decade of existence Bitcoin, miners have cumulatively collected $14 billion ( for transaction fees plus the block reward) in exchange for their services in securing the Bitcoin network.

This explains why the global interest in mining Bitcoin is on the rise.

Of course, there are other reasons, such as individual interest in exploring Bitcoin mining, lack of sufficient options to buy Bitcoin directly in fiat or cheap/free electricity in certain areas to try mining, etc.

But in any case, everyone wants the best return on their time and monetary investment. Certainly, Nicehash hasn’t been providing that return, so users like you are in search of alternatives to Nicehash, and here are those:

Top Alternatives to NiceHash for Mining in 2021

Some of the best nicehash alternatives which our team found for you to use in mining in 2020:

#1. Honeyminer

Honeyminer is a reliable alternative to Nicehash and is quickly gaining traction in the crypto space. This is especially amongst aspiring miners who don’t want the hassle of maintaining their own rigs.

Honeyminer’s Hotel Honey program provides on-demand GPUs for mining cryptocurrencies and pays you back in Bitcoin. Of course, you can buy mining power on Nicehash too, but the process looks cumbersome.

Nicehash Miner Settings

Why doNicehash yield lower returns for the same amount of investment as reported by many users on reddit? (You can also read our detailed review of Honeyminer)

According to my calculations, too, Honeyminer could yield a bit more than Nicehash when committed for a long period of time.

If you are interested in buying some hash power through Honeyminer’s on-demand GPUs, here is the deal:

Honeyminer is making cryptocurrency mining accessible to the masses. You need not buy expensive GPUs or CPUs to start mining cryptocurrency if you buy Hotel Honey™: Access on-demand GPUs to mine cryptocurrencies.

The other deal is, you can download Honeyminer’s software with automatic algorithm switching capability to harness the power of your powerful computer or GPUs that might be lying ideal to you. Go to this link and sign-up using your email. You will also get free 1000 Satoshis for doing this.

#2. Cudo Miner

Cudo Miner is an attractive Nicehash alternative that you can use right now.

Cudo Miner is a multi-algorithm, feature-rich GPU & CPU miner with automatic algorithm switching capability so that you get the best returns on your investment.

The Cudo Miner software is available in macOS, Windows, and Linux.

If you are an experienced miner and want to manually decide which coin to mine with your CPUs or GPUs, you can very well do so. Also, get a detailed breakdown of all GPUs and CPU, live hashrate readings, benchmark results per algo, earnings, temperature readings, GPU driver versions, etc., to efficiently mine cryptocurrencies.

Lastly, get 10,000 satoshis right now as a joining bonus as soon as you sign-up, download, and connect your device for mining.

#3. Kryptex

Kryptex is for beginners wanting to get their hands dirty with cryptocurrency mining with almost no investment.

Kryptex is a windows based cryptocurrency mining software that pays you in bitcoins for providing computing power. Kryptex software harness the power of thousands of computers running Kryptex software and combines it to mine the most profitable coin as per the market conditions.

But the app is only available in Windows as of now, and as per your processing power, you can expect to earn this much when you run Kryptex software:

The software is also well designed to show you the status of your hardware and your potential earnings, so don’t worry about the dashboard part to manage your mining.

#4. BetterHash

BetterHash another cryptocurrency mining software and a decent alternative to Nicehash’s mining software.

BetterHash is only available for Windows users but works on almost the same principle as other mining software. BetterHash software automatically picks up which coin to mine amongst its choices.

The algorithm switching also happens automatically through BetterHash, and you also get to see the estimated earnings as per the capabilities of your PC.

It is not wrong to say that the software focuses on PC owners. Especially the beginners as seasoned miners would naturally want more data to see their mining performance.

#5. MinerGate

MinerGate is one of the oldest standing multicurrency mining pools created in 2014 by blockchain enthusiasts.

They specialize in providing the most accessible mining software, reliable 24/7 support service, and a helpful community to help you navigate through the complex world of crypto mining.

MinerGate’s xFast GUI Miner is a high-performance crypto mining software capable of generating maximum hash power and overall performance when connecting it with your GPUs or CPUs.

As of now, it is trusted by 3.5 million users who are running this software. It is available for Windows, MacOS, and Linux systems capable of automatically switching amongst the best cryptocurrencies to mine for you.

Over to you now

Mining is an exhaustive affair, and it only makes sense to try mining if you want to commit for a long time. Atleast a year or two to understand the game.

Your investment in mining also only makes sense when you anticipate that the hash rate of a certain coin is always going to lag behind its price appreciation over the period of your commitment. This will naturally fetch you more coins in that time frame instead of directly investing in the coin itself.

But I understand these are difficult questions to answer, but you can boil them down to these things with a bit of serious research and awareness.

Lastly, if you wish to try mining and don’t want to have the headache of maintaining your software/hardware devices, you could try Honeyminer. Honeyminer’s product helps you get started with cryptocurrency mining, most simply while avoiding any CPUs or GPUs maintenance. But make sure only to buy hashing power for the long term!!

Happy mining & Adios !!

Contents

• Top Alternatives to NiceHash for Mining in 2021