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1. Nicehash Profitability Calculator
2. Nicehash Coinbase Withdrawal Disabled

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]

Hashing power buyers[edit]

NiceHash has currently stopped mining operations while investigations are ongoing to know what exactly happened. A few days later, Nicehash’s service was relaunched, but some of the users lost faith in what was the most user-friendly mining platform. NiceHash is an online crypto mining marketplace which connects sellers and buyers of computer hashing power. Buyers want to rent out hashing power from this marketplace and use it to mine a certain cryptocurrency. NiceHash will never ask or use your private keys, but we cannot guarantee the same for the 3rd party miners included in NHM now or any time in the future. Add an exception to Windows Defender for the NiceHash Miner folder (after you unzip the package). Check out the Wiki for instructions on getting started, upgrading, troubleshooting, and more.

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]

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.

Nicehash Profitability Calculator

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

Everyone is searching for alternatives to Nicehash. The NiceHash exchange is a place where people turn in their computing power over to miners who want to create a new coins. This makes it easier for users to get access to mining solutions without having to compete with massively large miners from all over the world.

In this guide, we are going to share with you which are the alternatives to Nicehash. There are some platforms that are sharing with users the possibility to mine a wide range of virtual currencies. Although not all of these platforms will necessarily replace Nicehash, it is always good to have alternatives to Nicehash.

• Alternatives to NiceHash

What is Nicehash?

NiceHash was confirmed to be hacked a few years back with hackers moving lots of investors Bitcoin from the platform.

Though NiceHash hasn’t come out to mention the number of Bitcoins that were stolen Reuters has reported the figure to be around 4,700 Bitcoins which is worth over $60 million at the time of writing. However, this amount has reached a price of $282 million in 2021.

NiceHash has currently stopped mining operations while investigations are ongoing to know what exactly happened. A few days later, Nicehash’s service was relaunched, but some of the users lost faith in what was the most user-friendly mining platform.

Pending the time NiceHash resumes operation, there are alternatives you can get onboard to make some money through mining. So, what are some good nicehash alternative services?

Alternatives to NiceHash

In the next sections, we are sharing with you the best alternatives to Nicehash. Take into consideration that the platform you use will depend on different things. The alternatives to Nicehash that you want to use are those that offer similar services at a better price. Moreover, you could also search for better services at a lower price.

CudoMiner

Cudo Miner is a crypto mining software that can be downloaded and installed on the PC to mine altcoins. The software was developed by Duncan Cook and Matt Hawkins who are both IT specialist.

The software is compatible with Windows, Ubuntu and Mac OS. To set up the software on your pc, visit the official website of the miner download and install. Then proceed to create an account.

The software offers users many features including automatic algorithm switching that ensures they mine the most profitable coins only. This is done by scanning the coin value and its difficulty and then switching the mining efforts automatically to ensure the user attains the highest profitability at all times.

However, for seasoned miners that know how to optimize their machines to mine a specific coin they can choose to disable the auto algorithm and manually select the coin to mine.

In conclusion, Cudo Miner is designed in a way that it’s easy to use for both new and experienced miners. It’s also one of the few cryptocurrency mining software available in the market that allows users to make profits from the activity.

With a built-in GPU overclocking settings and ISO build, Cudo Miner is an awesome NiceHas alternative.

HoneyMiner

HoneyMiner sets you on a course to make your computer system a mining rig, converting your processing power into some extra passive income. Unlike having to mine by yourself, mining with the HoneyMiner saves you a lot of costs you could have incurred, especially on electricity.

The HoneyMiner app, which is available for Windows OS, is easy to download and set up. All that’s required for registration is a valid email address.

The program is developed in such a way that it automatically detects which coin is most profitable to mine at any point in time, mines it and converts all cryptocurrencies mined into Bitcoin for payout. Payout requests can be made into any Bitcoin wallet with support for Venmo coming soon.

There is also a consideration for those who have previously been into cryptocurrency mining; those with mining farms. The HoneyMiner App can make use of high processing speeds as well to mine cryptocurrencies.

This mining is highly profitable as anyone can join irrespective of their hardware power. The Crypto Calculator helps you determine how much you can earn if you hodl your coins for a specified period.

MinerGate

The MinerGate cloud mining program makes mining profitable and affordable for everyone. You can mine Bitcoin and 14 other cryptocurrencies for a low fee. Hashing24, a Scotland based company, provides MinerGate with the hash power needed for bitcoin cloud mining.

Your hash power determines how much coins you can mine in a giving period. To purchase a 20GH/s for could mining, you need a 0.0034 BTC one-time fee with a daily maintenance fee of 0.0066 USD which is relatively low compared to other competitors. Pricing for 100GH/s and 500GH/s are 0.017 BTC and 0.085 BTC respectively.

MinerGate’s advantage over NiceHash is you don’t store your coins on the platform. Mined cryptocurrencies are paid directly into your wallets when minimum payouts are reached. So the fear of losing a considerable chunk of bitcoins if the mining company goes down is out of the way. Minergate vs Nicehash? The Nicehash platform is way more profitable than the Minergate one, but the lack of confidence people now have in Nicehash makes Minergate a good alternative.

Kryptex Miner

The Kryptex Miner for Windows users makes mining easy though they do not specify or allow you to determine what cryptocurrency you will be mining. Downloading the application analyses your computer hardware and gives you the fiat value of how much you would be earning daily and monthly. Your earnings are then sent to your Bitcoin wallet address, and you also have the option to get paid with the Qiwi Visa Wallet which is a free online bank card which can be used on the Internet like your Visa card.

Your withdrawal options for your country would give you a guide on which one is best.

Conlcusion

Nicehash Coinbase Withdrawal Disabled

Nicehash is one of the best platforms if you want to mine virtual currencies through cloud mining. Nevertheless, there are some platforms that could work as alternatives to Nicehash. Everything depends on your needs and the platforms that offer these solutions to you.