Get huge benefits from mining with NiceHash — Get Started
So, if you’ve been on any chat about cryptocurrency mining, you most certainly have heard about nicehash. But what is it ? And why does everyone uses it ?
NiceHash is a computing power borrowing service, it’s just like being able to have 25000 thousands graphics cards for a certain amount of time to mine cryptocurrencies. View it as a race car renting, you buy it for a couple of hours to impress your friends and get some easy girls, but then you need to return it. However, in the end you made profit out of it !
From one side, NiceHash offers to miners (you know those big guys with hundreds of graphics cards ?) to put their machines in auction (virtually of course). While on the other hand, those who wants power can come and bid on the combined power of those miners that “rent” their machines. This offer you the possibility to mine like a big guy for a small amount of time, and you didn’t have to go out of your home ! How wonderful ?
You’ll often make 10–25% benefits if you know how to use this site.
But how ?
Well you “buy” this computing power on nicehash for a certain amount of Bitcoin, and you start mining on a cryptocurrency that can be sold. After you’ve mined, you sell all your newly acquired cryptocoins, and BOOM! Profit.
Now let’s start the tutorial ! So we can finally get that EZ money.
Let’s first go to https://www.nicehash.com/ and create an account.
NOTE THAT THIS TUTORIAL IS BASED ON HOW TO MINE SUMOKOIN WHICH USES THE CRYPTONIGHT ALGORITHM, IF YOU WANT TO GO MINE OTHER CRYPTOCURRENCIES WITH NICEHASH, YOU’LL MOST CERTAINLY NEED TO CHANGE THE ALGORYTHM ACCORDING TO THE CRYPTOCURRENCY YOU ARE TRYING TO MINE.
After creating your account, and validating your address blablabla… you log in to the site and we can begin !
- GO to marketplace
2. Select the algorithm used by the cryptocurrency you want to mine, in our case with Sumokoin, we chose Cryptonight.
3. The most important part now. You will need to send the computing power to a pool if you want to mine cryptocurrencies. On this example we will take sumomine.fr because it’s the best we know (and yes I say that because it’s ours)
Pool name: Sumomine — The name is just for you, its just to better recognize it later
Stratum hostname or IP : sumo.electromine.fr — this is the ip of the pool
port : 5555 — You will need to ask to the pool on what port nicehash users should mine, they’ll know.
User: You’ll need to add your Sumokoin Wallet address, don’t mess up or all the mined cryptocurrencies will go to a random address.
ATTENTION ! Of course to put an order you will need to first transfer your Bitcoin to nicehash.
On the previous image, I’ve placed an order at 0.005 BTC.
PRICE : By default, a price is suggested, you need to check if the amount that you want to pay corresponds to the amounts in other orders. Otherwise your order will never be taken.
LIMIT : It serves as a limit of computing power send in time. For your first times, I advise you to put a small amount. But you can put how much you want.
AMOUNT : The total amount of Bitcoin that you want to use for this particular order.
5. And that’s it ! The computing power rented from Niehash will be transmitted to the sumomine pool and it’s just like if you had a farm at home ! Isn’t that beautiful ?
However, if you see that you are doing fine, and you want to buy more computing power, you can just edit your order to allocate more bitcoins or just change to power.
Now you got it, NiceHash allows you to have a huge amount of computing power without the inconvenience of the rooms, the heat, the change of graphics cards and everything. You just pay and that’s it.
It is very useful to mine the newest cryptocurrencies because you can see if it is worth it to invest on this one.
Having Nicehash by your side is always a good idea, whether you want to profit of a low difficulty crypto or just contribute to a pool to get you extra rewards.
Hope this tutorial has helped you :D
Our website : http://sumomine.fr/#!/app/home
