NiceHash is a marketplace that contains several different stratums for different mining algorithms. The main difference between NiceHash and a regular pool is that mining on NiceHash means that you are mining for someone else - for the buyer of hashing power who placed an order on the marketplace - and that on a regular pool you are mining for yourself. Some other things that distinguish NiceHash from other pools are:
You can mine anonymously or by registering the account on NiceHash website - so you can decide wether you want to mine to your own BTC wallet or the NiceHash wallet.
Many miners think that you cannot use NiceHash without using NiceHash Miner or NiceHash OS (NHOS), but you can set up mining on NiceHash stratums with minerstat and even set up a custom profit switch.
In this article we will show you how to set up NiceHash on minerstat dashboard.
First, open address editor and then import pools or add new pools manually.
You can download JSON file with all of the NiceHash's stratum addresses and import them to your address editor. We have divided stratum addresses in regard to locations available on NiceHash.
Add new tag (POOL:NH-ETC) with the value of NiceHash's Etchash stratum address:
Next, save the tag (WALLET:BTC) to the wallets with your BTC address that you will use on NiceHash. It can be both external BTC address or NiceHash wallet BTC address.
In the next step, navigate to your worker's config. Select the default mining client for mining Ethash algorithm. You can find the list here along with the current estimated profitability provided by NiceHash API.
The default configs for selected mining client will be loaded. It is very important that you don't forget to set algorithm parmeter along with wallet and pool tags.
Phoenix ETH example
You can repeat the process for any other coin, algorithm, or mining client options, just make sure that:
Here is a short video that will show you how to set up profit switch on NiceHash. We have included just a few algorithms that were the most profitable at the time of recording, but you can include all of their other algorithms as well (except the ones that are not suitable for your worker).
NiceHash uses different payment schedules and fees for their service - depending on wether you are using your own wallet or their internal wallet. To get the current information on NiceHash payouts, please check their official website. The fees for mining on their stratums differ from 2% to 5%.
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