How to start as a buyer?
A buyer of hashing power is a person who wants to buy the mining service from someone else. They can do that by renting mining rigs, committing to the cloud mining contract(s) or ordering hashing power at NiceHash.
You can buy hashing power and start mining any coin you like, by following these steps.
- Register a new account
- Deposit some bitcoins (min. 0.005 BTC) to your NiceHash wallet address. Please account the Bitcoin transaction fee when depositing.
- Find the coin you want to mine and the pool you want to mine that coin in. You can get help yourself from these two sites: whattomine and coinwarz.
- Register at your chosen pool provider and create a worker.
- Save the pool to your list of pools. Algorithm, Stratum, Port (some pools have special NiceHash port but usually you can find it at the end of stratum server), Username (the name of the worker that you have created at pool), Password (password from your worker at pool, usual that is x).
- Verify the pool with the pool verificator. Please note that some pools have the option to custom set the worker's difficulty. Usually, that is the worker's password. In that case, you need to enter d=16383 in the password window if the pool verificator shows you that the minimum pool difficulty is 16383.
Example: "Pool difficulty too low (provided=2048, minimum=16383)"
Worker = nicehashminer
Workers password: d=16383
- Place a new order on the marketplace (don't forget to select the right algorithm for mining that coin, e.g. DaggerHashimoto for mining Ethereum or Equihash for mining Zcash). You can find the list of all the supported algorithms and some of the most popular coins that are mined with the algorithm here. You will be able to select between the EU and USA marketplace (each of them has its own prices) and standard or fixed order. When you determine the amount you are willing to spend on the order, this amount is expressed and paid in bitcoins. You pay as you mine, so the unspent bitcoins can stay in your NiceHash wallet or you can withdraw them.
- Check your income at the chosen pool. Please note, that the pool is responsible for your mining rewards. NiceHash only guarantees you to deliver hashing power that you purchased. The hashing power may not always be fully accepted by the chosen pool due to technical obstacles of the chosen pool.
- Detailed Buyers Guide