How To Mine [MWC] using Nicehash

This Article covers how to mine MimbleWimbleCoin (MWC) using Nicehash on Icemining.ca — The Cool Pool

Preamble:
This Guide covers how to mine MWC using Nicehash to buy Hashingpower.
You might want to consider Solo or Party Mining if you have a big enough Hashrate.

Nicehash is a bidding Platform on Hashpower, hence Buyers can buy hashpower in a similar way to an auction. Whoever pays most, gets it first. For a detailed Guide on this behaviour We suggest Nicehash’s own Documentation

Requirements:
- A Nicehash Account
- An existing Icemining Account for MWC
(Mined MWC on Icemining and set your password before already)

Order Types

Let’s elaborate on Nicehash first for a moment.
Nicehash offers us 2 Ways to actually buy Hashpower.

1) A “Standard Order” where we Bid on it dynamically.
(So Pricing and Hashpower of our Order may change during it’s lifetime)

2) A “Fixed Order” Where we acceppt a fixed price.
(So pricing and Hashpower stays the same, but this will be more expensive than constantly beeing the lowest bidder on a standard Order)

Which of those 2 Order types you choose is up to your preference. Just realize you may need to check your standard Order every now and then to make sure you are still getting Hashpower and edit it if you got outbid.

Now that we understand how buying Hashpower actually works, let’s look at how to do it next.

How to Mine using NH

1. Login (or Register) At Nicehash
2. Once Logged in, make sure you are on your Dashboard and click your Wallet Icon in the Top Right corner

3. Then select “Deposit” and Send the amount of BTC you want to spend on Hashpower to your Nicehash Wallet. (Minimum Order of 0.005 BTC)

4. Wait for the Transaction to get 3 Confirmations
Then select “Hashpower Marketplace” in the Top Menu

5. Make sure to select the correct Mining Algo depending on your Algo Preference (GrinCuckarood29 and GrinCuckatoo31 for MWC)

6. Click on “+ New Order on XX Market” Depending on the Location of your Mining Pool

7. Select if you want to create a Standard or a Fixed order

7.1 Click the Dropdown Menu “Select your pool” and choose a Pool.
In Case you haven’t added one yet, select “Add new pool …”

7.2 Add the Pool Information, your Username and ANY password and Click “Test Pool”

-

There are multiple Stratums which all use the same URL and serve a Server depending on your Region to minize latency!

For EU and US Markets: server mwc.hashrate.to:4001

We strongly recommend pre-creating Pools and naming them according to their Region. (This would total to 4 Pools, 2 per Region and Algo)

7.3 Make Sure the Test is succesfully and then click “Add Pool”.

8 Placing your Bid:

8.1 Choose a price that is competing with other orders that currently receive Hashpower among the existing Bids

8.2 Choose a Speed Limit that suits your preference
(Depends on how long you want the Miner running.
Using Dpplns you generally want a runtime of 2 Hours+ and want to make sure the Order keeps as constant as possible)

8.3 Choose the Amount of BTC you want to pay during this Orders Lifetime.

9 Click “verify pool” to make extra sure it is up and running, and click
“Place Order on xx Market”

Important:

Stratum Password on Nicehash:
This Guide assumes you got an existing Icemining Account for MWC already, if you don’t it’s important to create one with a strong password first!
For existing Accounts use a random password for normal Pool mining.
This is highly recommended if you use rental services like nicehash so nobody can see your withdrawal password!

For SOLO Mining use m=soloas password:

For Party Mining, use m=party.%partypw%as password to join a Party!
(Hint: The Party Password is Case Sensetive!)

Your Order got placed, what now?

If you placed a standard Order you will need to check it from time to time, to make sure you didn’t get outbid or to edit your bid to stay competing with other bids.

Adding more Pools

It might be handy to have a Pool config ready to switch markets if one is cheaper than the other, or because C29 is temporarily more profitable than C31 to start a new Order. In any case we suggest pre-creating multiple Pool entries for the different Regions and Algos!

You can add them at any time without starting an order, Let’s look at how:

1. Visit the Hashpower Marketplace and select “My Pools”
2. Then click on “+ Add new Pool” and enter the Pool Information
3. Once Verified make sure to save it to your list of pools

For EU and US Markets: server mwc.hashrate.to:4001

An Extra Bit

In case you are Jealous of this nice dark looking GUI of nicehash, here’s where to enable it ;)

FAQ:

Q: What is the minimal suggested runtime?

A: Using Dpplns you should be running for more than 2 Hours to allow Dpplns to do it’s thing. Also, your Order shouldn’t drop off all of a sudden as this might impact your earnings.

A Work in Progress Guide by MrT with many thanks to Anthill, InfiniteImp and the whole Icemining Comunity for the constructive Feedback!
Happy 🧊⛏️ Everyone =)