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 new account
- Deposit some bitcoins (min. 0.005 BTC) to your NiceHash wallet address
- Find the coin you want to mine and the pool you want to mine that coin on
- Save the pool to your list of pools
- 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.
Buying hashing power isn't so easy as it looks. Keep in mind that is necessary to gain some cryptocurrency knowledge before starting as a buyer.