What is NiceHash and how it works?

NiceHash is the largest hash power broker marketplace that connects sellers or miners of hash power with buyers of hash power. Hash power is a computational resource that describes the power that your computer or hardware uses to run and solve different cryptocurrency Proof-of-Work hashing algorithms. NiceHash service is unique in a way that only connects different end-users and is not offering any cloud mining options - meaning NiceHash does not own or rents out any mining equipment. 

Hashing power buyers

Buyers participate in an open marketplace where they can select the crypto-currency that they want to mine, a pool on which they want to mine, set the price that they are willing to pay for it, and place the order. Once the order is fulfilled by miners who are running NiceHash Miner Legacy on their machines, the buyer gets the crypto-currency from the pool. This means that buyers don't require to run complex mining operations themselves, and there are no capital investments in mining hardware required.

Hashing power sellers (miners)

Sellers or miners can run NiceHash Miner software or connect their mining hardware (ASICs) or just regular PCs to NiceHash stratum servers and to the buyer's order. Their hashing power is forwarded to the pool that the buyer has chosen for mining. For each valid share they submit, they get paid in bitcoins for the price that is determined by the current weighted average and refreshed each minute. This is all done automatically and the process does not require complex technical skills.