IN SHORT…USE LIGHTNING!
Did you know NiceHash has one of the top-capacity Lightning nodes?!
It’s not here for nothing… You should make sure your funds do not stay in the NiceHash wallet for more than 50 days. During this time, you may withdraw them using the Lightning network to an external wallet of your choosing at the lowest fees possible.
WHY?
By law, NiceHash is required to ensure that each user's funds are transferred to individual addresses on-chain after a period of no later than 60 days. These provisions are clear requirements we unfortunately cannot avoid, but they are designed to keep things transparent and make sure your funds are only yours.
HOW?
You should make sure you do not leave funds lying on the NiceHash wallet for more than 50 days. You receive an e-mail before anything happens, to remind you that it's time to move funds. Our recommendation is to use an external wallet you trust, that preferably supports lightning transactions, and make sure you move funds there regularly.
WHAT IF
You do not take any action, we will transfer your funds to an individual wallet in accordance with the law. The move is charged with a fee, that is avoidable, observing the above.