NiceHash is a convenient cryptocurrency mining marketplace that links miners looking for hashing power with buyers of hashing power. A buyer has an option of choosing the crypto they want to mine and the pool they want to mine. We’ll analyze in this article the Nicehash profitability in 2019.
They then place an order based on a certain set price. Buyers then receive the cryptocurrency from the pool once miners clear the order. Miners are in charge of running the NiceHash Miner software.
Sellers or miners can operate the NiceHash Miner software or link it with an ASIC (mining hardware). Additionally, they can run it on an ordinary computer. The hashing power is then relayed to the pool that the buyer has selected for mining. Payments are made in Bitcoins for any authentic share submitted. The weighted average is used to determine the price. The process runs smoothly and one does not require any technical skills.
Is Nicehash Profitable?
One of the most asked questions regarding Nicehash is – Is Nicehash profitable? Now, it depends on your and your computer. Basically, if you’re living in an area where the electricity is cheap or close to 0 – Nicehash can be pretty profitable. But dont expect the nicehash profit to be extraordinary. With a gaming laptop or PC not older than 1 year, you can easily do a $1-$1.5 per day with Nicehash. Assuming that you don’t leave your PC or laptop online all the time, let’s say the profit per day is $1 – which makes a $30 per month, paid in BTC. In a year, that would be a $360 at the current BTC price. But if the BTC price would increase – so would your Nicehash profit. If BTC doubles up until next year this time – you’d have around $650-$700 ish – which is enough to buy a new laptop so you’d mine with two PCs or two laptops at once. But again, the Nicehash profit really depeds on the price that you’re paying on electricity.
NiceHash also comes with a mining profitability calculator– which we’re going to speak afterwards. You can plug in the type of hardware you are using and the electricity charges, and you can predict your profits in a specified period. A user can tell the approximate profit in a day, week or even month. Not all hardware is profitable due to variation in Bitcoin prices.
With time, NiceHash profitability has significantly declined due to various factors. The mining sector has been overflooded something that has a direct negative impact on profits. The situation has been worsened with the declining Bitcoin prices. Furthermore, security concerns have forced many people to ditch the service.
Nicehash Miner Calculator
The best thing that Nicehash done was created a Nicehas miner calculator that would answer to your question – is nicehash profitable? The nicehash profitability calculator basically tells you how much you could earn with a specific setup or hardware configuration. Its super useful, especially if you don’t want to waste any time mining and testing new platforms. However, there were cases when the earnings were much higher than the Nicehash calculator estimated – so its probably best to give it a try.
For example, with a Intel CPU i9-9980XE and a electricity cost of 0.1 USD/kWH – the nicehash profit would be 0.21 USD per day. Pretty low, but this only for 1 CPU – let’s add a GPU also. With an Nvidia TItan XP – the income would be 1.01 USD per day with a 0.1 USD/kWH price.
So in total, the nicehash profit would be a $1.22 USD per day – but that could increase or decrease depending on the market. If you have a Nvidia RTX 2080 Ti – your nicehash daily profit would be 1.40 USD. But after testing the profit with the Nvidia RTX 2080 Ti card, the profit was 1.61 with free electricity.
Alternative to Nicehash
In 2017, NiceHash suffered an exodus of clients after around 4, 7000 Bitcoins were lost through a phishing attack. The security breach affected NiceHash’s reputation in the market. NiceHash is currently compensating users who were affected by the attack. Despite the service relaunching, users lost faith and started looking for other options.
HoneyMiner is a sophisticated crypto mining software that allows you to earn passive income. Notably, the software does not require any technical skills or equipment to operate. Despite being new in the market, HoneyMiner has some positive reputation. First, the software is easy to set up after download. A new user is only required to have an email address to create an account.
The software works by scanning different tokens and selects profitable ones for mining. The selected tokens are automatically mined and sent to you daily. With HoneyMiner you earn about $1 to $3 on a daily basis making it a perfect NiceHash alternative.
On the security aspect, HoneyMiner uses the SSL system and encryption to protect users. Additionally, all servers linked to HoneyMiner are decentralized and entirely anonymous. Although the sign-up process is easy, users are required to go through the 2-factor authentication process.
With the ongoing developments, HoneyMiner is expected to add additional features in the HoneyMiner Pro version. The new features will upgrade the mining experience making it more profitable.
MiningPoolHub has positioned itself in the market as a mining software that caters for both newcomers and experienced miners. Users have a variety of options to chose from. They can select from Simple Coin mining, Algo Switch mining and Multi Algo Switch. All these options are for different categories of miners. The Algo Switch capability stands out because it enables users to mine different coins under the same algorithm. The user interface is friendly to any miner.
MiningPoolHub comes with the Auto profit switch feature. This capability means that you can switch mining coin or algo based on profitability. Additionally, users can trade mined coins with other altcoins like Zcash, Monero, and Dash automatically.
Users can get a reduced pool fee of 0.9%. The reduced charges make MiningPoolHub a good NiceHash alternative.
On the downside, MiningPoolHub has many pages that might turn off some users who are impatient to navigate. Furthermore, insufficient information about the pool makes it hard for one to make a decision.
Developers of Computta believe that anybody who owns a computer should be able to earn from mining. This is why you don’t require any technical skills to operate the software after installing it on your computer. Furthermore, everything on Computta is free and fully automated. All you need is a reliable power source, and you are ready to start earning money from mining. It is an excellent NiceHash alternative because it works on almost 95% of computers running on the Windows Operating System. However, potential users have been calling on developers to come up with different apps for other platforms like iOS.
After installing the software, users are exposed to a two-step mining process without any complexities. Mining coins is enabled through the Auto Pilot feature.
Notably, all earnings from mining changed into Bitcoins, and the balance is in US Dollars. On average, a regular user can earn at least $22 on a monthly basis. Computta developers usually charge a fee of 25% on all your profits.
Unlike other mining software, Computta has an attractive referral system. If a user invites ten personal referrals to the platform, they can create a referral network of 2960 sub-affiliates averagely.
MiningPoolHub vs Nicehash
A lot of people are asking – what is better? Miningpoolhub or nicehash. The thing is, miningpoolhub vs nicehash is not really contest as each of them have different users. Nicehash is for small miners like you and me that uses their laptop to mine a few crypto. MiningPoolHub on the other hand is more complicated to set up, but the earnings are way higher – like 30% to 50% higher if not even more. The users that mine on MiningPoolHub are people that know how to configure a miner and have one rig or more mining devices. But for a normal small miner, Nicehash profit is more than good.
So, is Nicehash worth it? depends. You want to make around $15-$30 in crypto per month – yes. You want to get rich fast mining? No, then its certainly not for you. For more informations, you can check out the nicehash calc and see how much you’d do per day with your current setup.
Using NiceHash is easy and quick to set up, a capability that has contributed to its popularity in the industry. However, NiceHash seems to have some shortcomings that are unsuitable to individuals looking for a different mining experience. All the mentioned alternative suit different types of miners. Following the hack on NiceHash, some miners lost faith in the software hence the need to look for other profitable alternatives in the market.
Before settling on any software, carry out an extensive evaluation before making any decision.
However, it is advisable to settle on a software that has all users in mind. MiningPoolHub is unique since it levels can suit beginners and experienced miners. A feature NiceHash lacks.
Miners with focus on different coins have a reason to switch from NiceHash. NiceHash only pays in Bitcoin, but other software like MiningPoolHub pay depending on the preferred coin.
With MiningPoolHub, you are guaranteed a smooth mining experience since you don’t need advanced knowledge to start earning your passive income.
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