NiceHash team has already introduced our mining software - see this topic in case you have missed it. But this is not all the goodies we have.
If you are a fan of cloud mining or rig renting you will love to know that we offer on-demand (and no need for contract) hashing power that will be available to rent for Zcash from day one. So if you don’t have the equipment to mine or you are looking to invest into Zcash or even if you find long term mining contracts too risky, we are here to save you the troubles.
We are introducing you the NiceHash marketplace.
Buying hashing power on NiceHash is very similar to cloud mining, but has several important benefits:
- you get hashing power delivered almost instantly upon placing an order (no need to wait for months or years to see if you’ll mine anything or not)
- you can order massive hashing power with our loyal user base that will be at least 50 kH/s or more available for mining Zcash
- you can bid on the price you are willing to pay for mining Zcash or you can place a fixed order to stay worry and work free
- there is no limit in supply - you can place an order whenever you want and when the miners will be ready, they will mine for you
- you will pay only for valid shares and actual mining (if there are no miners available you won’t loose money)
- we are not a cloud mining company and don’t own the hardware ourselves (miners connected to NiceHash will do the work for you and get paid from your order)
- the minimum investment for placing an order is 0.01 BTC (which is less than $8) so you can test the waters
You can buy hashing power in four steps, first three are pretty trivial.
- You have to register new account.
- You need to deposit some Bitcoins to your NiceHash wallet (since minimum order is 0.01 BTC, you should have a balance of at least that value).
- You have to find the pool on which you would want to mine (and you can find many suggestions right on this forum). We suggest you save your favorite pools so you will have them ready when placing orders will be beneficial to you.
- Place the order (as explained in details below).
Your starting point for placing the order is Equihash marketplace. Currently, there are only few live orders but enough to clear some things out. I have already told you about standard (bidding) and fixed orders. It’s important to know that standard (bidding) order can last 14 days (even when you are not mining because there are no miners or if you have limited your mining speed) and fixed orders can last only 24 hours. When placing a fixed order you will definitely get the miners but for the fixed price. When placing a standard order you can always change the price you are willing to pay for mining and limit the mining speed even if the order is running.
With price you determine how many BTC are you willing to spend on kH/day. Examining the price of other buyers will reveal what bid you have to place to compete with them. You can always outbid the highest bidder, but you can also swim in the middle. If you are placing a fixed order, the price is automatically determined. The price of standard orders can be changed at any time during the order.
With limit you can limit the amount of hashing speed (KH/s) you are willing to spend. The minimum limit is 0.01 kH/s. You can change the limit at any time during the order.
Lastly, you need to decide on the amount of BTC are you willing to spend on the whole order. You can always cancel the order and the amount you haven’t already spent is safe in your NiceHash wallet. You can also edit the order, refill it, or check the detailed statistics of the order.
After you place all three values you will be able to see approximate duration of mining. You can easily increase it or decrease it by changing the value of the limit.
You only need to select your favorite pool and you are good to place your first order. Rented hashing power will be pointed to selected pool - it’s like having your own farm, but cheaper and with no noise and everything you’ll mine there is yours.
Feel free to ask us anything you want to know about buying hashing power on NiceHash.