If you are just starting out or thinking about using NiceHash you have come to the right place. In this blog post, we will talk about what is NiceHash and how does it work. We will also include links to useful information about our services. 

This guide serves as an information source about NiceHash and the place where we have collected the most useful information in one place.

The majority of your questions is most likely already answered on our support page, you can check it out here: https://www.nicehash.com/support/

What is NiceHash and how does it work?

NiceHash connects buyers and sellers of hashing power. It works as a broker between a demand and supply chain.

Read more about it here: https://www.nicehash.com/support/general-help/nicehash-service/what-is-nicehash-and-how-it-works

Note that NiceHash is not only a broker of hashing power. We also support the trading and exchanging of more than 35 cryptocurrencies.

Buying hashing power

Buyers of hashing power are buyers, who set up orders on NiceHash Marketplace. Buyers buy hashing power and direct it to a pool of their choice. They decide on the amount of hashing power they want, the amount they are willing to pay and they set the price. Buyers can compete with other buyers for hashing power. Buyers then get paid in a cryptocurrency that they choose from a 3rd party pool. 

Because buyers pay in Bitcoin, sellers (miner) get paid in Bitcoin.

How is NiceHash different from cloud mining?
https://www.nicehash.com/support/hash-power-marketplace/general-help/how-is-buying-hash-power-at-nicehash-different-from-cloud-mining-contracts

Learn how to start as a buyer:
https://www.nicehash.com/support/hash-power-marketplace/general-help/how-to-start-as-a-buyer-of-hash-power

How to create a new order:
https://www.nicehash.com/support/hash-power-marketplace/orders/how-to-create-a-new-order

Where is my income from purchasing hash power?
https://www.nicehash.com/support/hash-power-marketplace/general-help/where-is-my-income-from-purchased-hashing-power

Detailed Buyers guide:
https://static.nicehash.com/marketing%2FBuying%20Guide.pdf

What are Extra reward and how to avoid them:
https://www.nicehash.com/blog/post/what-are-extra-rewards-and-how-to-avoid-them

How to calculate profit or a loss:
https://www.nicehash.com/support/hash-power-marketplace/general-help/how-to-calculate-profit-or-loss

Hints for maximizing profits:
https://www.nicehash.com/support/hash-power-marketplace/general-help/where-can-i-get-some-hints-for-maximizing-profits-by-purchasing-hashing-power

You are also welcome to join our Reddit or Discord server where you can find other NiceHash users and our staff who will be happy to help you.