Scrypt ASICs are on strike - they want Bitcoin payouts!
Let’s be honest - mining Scrypt coins like Dogecoin and Litecoin can get a bit time consuming. You’ve got your ASIC mining along, putting in the work, but traditional mining pools still pay you out in altcoins. Then comes the extra step of swapping those coins for Bitcoin, which can quickly become a time-consuming chore. Wouldn’t it be easier if you could skip the hassle and get paid directly in Bitcoin?
That’s exactly where NiceHash comes in.
In this article, we will talk about the benefits of mining on NiceHash with Litecoin, Dogecoin or other Scrypt based ASICs.
Does NiceHash support merged mining?
One of the most frequent questions we get is if NiceHash supports merged mining.
Yes, NiceHash does support merged mining.
When you connect your Scrypt ASIC, like an Antminer L7 or L9, to NiceHash, your hashrate automatically qualifies for merged mining. Buyers on the platform use your hashrate to mine whatever Scrypt-based coin is most profitable at the moment. If merged mining (Litecoin and Dogecoin) offers the best returns, that’s very likely what your hashrate will be used for. If not, it could be directed to any other Scrypt-based coin. Here’s the best part: regardless of what’s mined, you’ll always be paid in Bitcoin. No need to worry about exchanging altcoins - NiceHash buyers handle it all for you.
Getting paid in Bitcoin by mining Litecoin, Dogecoin or other Scrypt based coins
One of the biggest advantages of NiceHash is automated Bitcoin payouts.
Even if you own a Scrypt ASIC you can still get paid in Bitcoin!
Bitcoin is the king, we all know that. But Bitcoin mining might not be as profitable as other coins. Scrypt ASICs often deliver better profit margins, but mining Litecoin, Dogecoin, or other Scrypt coins comes with its own challenges - especially if you need to exchange those coins for Bitcoin to HODL.
NiceHash platform is a hashrate marketplace where buyers and sellers meet. The main and only currency of NiceHash is Bitcoin. For all the commodity (hashrate) that is being traded on NiceHash, the only medium of exchange is Bitcoin. That is the reason why sellers (miners) always get paid in Bitcoin - because buyers are using Bitcoins to pay for compute power a.k.a. hashrate.
There’s no need for auto-exchange services or complicated conversions. Buyers pay in Bitcoin upfront, handling any exchanges themselves before purchasing hashrate. For miners, it’s a straightforward process - connect Scrypt hashrate to NiceHash and earn Bitcoin.