NiceHash Miner

NiceHash is an online platform that offers the opportunity to earn Bitcoin and other cryptocurrencies.

Unlike traditional mining, NiceHash provides an alternative approach, allowing users to sell the computational power of their hardware and receive payment in Bitcoin. In traditional mining through command-line programs, users independently mine their chosen cryptocurrency and have full control over decisions regarding its subsequent use and exchange for BTC or fiat currencies.

For beginners, especially those who are trying to earn on their hardware for the first time, configuring traditional mining programs can be challenging. In this regard, we have developed a detailed step-by-step guide to facilitate the process of getting started with NiceHash.

Brief overview of the platform

Advantages

• Ability to receive Bitcoin instantly (can also convert to ETH, LTC, XRP, BCH, ZEC)
• Time-saving setup
• Low minimum payout threshold
• Relatively simple configuration
• Convenient monitoring of statistics
• Auto-switching algorithms to mine the most profitable coin at the current moment

Flaws

• The platform has been hacked once, resulting in the theft of all funds.
• Essentially an unnecessary intermediary; if you can manually configure programs, it’s better to mine on pools. Visit our Programs section on the website to find all the necessary mining programs and their configurations.
• Earnings are lower compared to traditional programs and pools because, when mining a coin directly, you can sell it at a higher price during a pump. For example, today, at the current rate, a graphics card may generate $1, but tomorrow only $0.50. When using NiceHash, you sell hashing power at both $1 and $0.50. However, with traditional pools, you decide at what price to sell.
• High fees ranging from 2% to 5% for NiceHash, plus fees from third-party miners.
• High transaction fees for all transactions, especially when withdrawing funds to external wallets.
• Auto-switching algorithms can be beneficial but may harm equipment if power consumption changes abruptly when switching algorithms.
• Lack of control over the cryptocurrency mining process because NiceHash autonomously selects which coins to mine, yet you always receive only BTC.

If you are not bothered by the drawbacks of this platform or simply want to try your hand at mining, then this platform is suitable for you.

On this platform, there is also the option to purchase computational power. This becomes useful in cases where you are interested in mining a specific cryptocurrency but lack the necessary equipment. Another possibility is when you acquire computational power at a more favorable price and direct it to a mining pool where the profitability exceeds what NiceHash offers.

Fast start

Download the miner!

If you don’t have an account, the platform will prompt you to go through the registration process before granting access to the download. Registration is necessary for monitoring statistics, linking your BTC wallet, and receiving payouts. The registration procedure is a fairly straightforward process.

Registration

• Enter your Email address.
• We come up with a password.
• Choosing a country
• We read the conditions, if they suit, check the boxes
• Create an account

And so, we registered. Enter your username and password and go to your personal account.

Personal Area

The new personal account has three main tabs: the Account itself, Mining, Exchanges and additional ones.

• The “Cabinet” tab is currently empty. This is where all essential information, wallets, and recent activities will be summarized.
• The “Mining” tab is for tracking your statistics.
• On the exchange, you can exchange your BTC for other altcoins (with a hefty commission of 0.5% at the time of writing this article. For comparison, exchange commissions on other platforms are typically 0.1%).

After evaluating the updated interface, it’s time to consider measures to protect your account, given that NiceHash has already experienced a security breach in the past.

Safety

First of all, we will set up our security, because we do not want our Bitcoins to be stolen.

• Click on the avatar with the account in the menu on the right and go to “My Settings”
• Here we select the “Security” tab and be sure to enable 2fa – Google’s two-factor authentication.

Now we are ready to launch!

How to start

To start mining, click “Add new rig” and perform the following steps:

• Download the program.
• Extract it to any convenient location.
• (Optional) Add the entire miner folder to antivirus exceptions because some antivirus programs may consider miners as malicious software.
• Locate the NiceHashMiner.exe file in the program folder and run it.
• The program will ask you to accept the Terms
• Selecting the interface language
• We agree if we understand the risks

The program will say that it is not responsible for all the miners that are inside the NiceHash shell. Now you need to configure the platform for your equipment.

100% LHR UNLOCK

NiceHash now supports 100% LHR unlock developed by NBminer.

Firstly, ensure that you are using the NBMiner_LHR plugin version 17.1 or higher. This plugin version includes the binary version of miner v41.3.

You can check the plugin version on the NiceHash Miner tab > Plugins. If you are not using the latest plugin version, simply click the UPDATE button to refresh it.

To utilize the full NiceHash LHR unlock, run the program as an administrator. Otherwise, the complete LHR unlock will not take effect. Once you launch NHM as an administrator, mining will automatically apply the 100% LHR unlock.

Settings

Upon the first launch, the platform will automatically conduct a hardware test and identify algorithms suitable for mining on your specific equipment.

Additionally, the shell will download all necessary miners and libraries. After the download is complete, we proceed with the setup. Select a server closer to your location to minimize ping, thereby reducing latency and accelerating task processing.

To input your Bitcoin address, navigate to the new personal account and choose the “Wallet Overview” section:

1. Click on the menu next to Bitcoin.
2. Select “Deposit BTC.”
3. Copy the wallet address and paste it into the “Bitcoin Address” field in the program. Below, find the “Worker Name” – the name of your computer, specified in Latin letters. This name will be displayed in the statistics section.

After the program’s initial launch, it’s necessary to run a benchmark – a hardware test:

1. Choose the “Benchmark” tab.
2. Select devices.
3. Choose all algorithms for testing, excluding algorithms with a plus sign, intended for Dual mining, which is currently not profitable.
4. Start the test by clicking the “Start” button.

Once your hardware is tested, the program will automatically select the optimal algorithm based on current cryptocurrency rates and NiceHash power orders.

Return to the main program window, where you’ll see the chosen 18 algorithms (the number may vary depending on the type of graphics card). Click “Start,” and a window with the miner’s command line, currently generating the highest income, will open. This marks the beginning of the mining process.

The platform interface displays the following information:

• Mining Status: If the pause button is active, it indicates the current mining activity.
• Hashing speed should be checked in the miner console, as this metric is used in calculators to estimate profitability.
• Amount of mBTC per day (1 mBTC = 0.00100000 BTC).
• Daily income in USD.
• Number of available devices for mining.

In the online statistics, the following information is presented:

• Mining temperatures.
• Fan rotation speed.

Withdrawing money

To withdraw funds, go to the “Wallet Overview” tab. Follow these steps:

• Click on the balance.
• Select the “Withdraw” option.

Withdrawals from NiceHash are processed daily, and miners receive payments through the PPS system.

You can receive payments to either the internal platform wallet or an external (cold) wallet or exchange. However, it’s worth noting that exchanges can also be susceptible to hacking, as they are online services with varying levels of security. Therefore, it is recommended to store funds in a cold wallet, which is not connected to the internet. An ideal option might be using an old laptop that is rarely used and not connected to the network. This way, if the device is not online, it is difficult to hack.

The platform strongly advises storing funds within its system, for example, by increasing the withdrawal fee for external wallets (currently 5%, instead of 2% for internal). However, we honestly warn you about potential risks, and the decision is ultimately yours to make.

Commissions

We are primarily interested in commissions for the sale of power, because we mine, and do not buy power.

Description	Commission
Payouts for balances less than 0.1 BTC to external wallets	5%
Payouts for balances from 0.1 BTC to external wallets	3%
Выплаты для балансов от 0.001 BTC на кошельки NiceHash	2%

These were commissions for selling your power, but the platform also has commissions for withdrawing money:

Withdrawal method	Withdrawal amount	Commission
Any BTC wallet	От 0.001 (мин) до 0.1 BTC	0.0001 BTC
Any BTC wallet	Более 0.1 BTC	0.1% of the withdrawal amount
Coinbase**	More than 0.001 BTC	FOR FREE
Payeer	From 0.001 BTC (min)	0.95% (charged by Payeer)

If you are not satisfied with such commissions, we recommend using traditional mining programs.

Version history

1.9.2.21

• Added the Cuckaroom algorithm.
• Fixed the UUID check in some versions of Windows.

1.9.2.19

• Added XMRig as a pre-installed miner plugin for the RandomX-monero algorithm.

1.9.2.18

• Added support for RandomX algorithm – monero

1.9.2.17

• Fixed configuration file versions.
• Corrected configuration backups.
• Addressed potential deadlocks in specific systems with the NHM-WS module.
• Removed OpenCL.dll from the shared DLL folder. The mentioned DLL could interfere with device detection on certain miners.

1.9.2.15

• Added X16Rv2 algorithm.
• Fixed debug console.
• Improved detection of AMD GCN4+.
• Moved algorithm settings to the benchmark page.
• Removed a malfunctioning per-card profitability function.
• Implemented AMD TDP settings.
• Consolidated NVIDIA and AMD TDP settings, SIMPLE, PERCENTAGE, and RAW modes. It is now impossible to set TDP higher than the factory default for the GPU (if you want to set values higher than default, you should disable NHM TDP settings and use an external tool). Values exceeding the valid range in PERCENTAGE or RAW mode will be reset to the nearest valid value (minimum or maximum).