Here at Crypto Miner Tips, we do our best to vet the software mentioned here but you will still need to conduct your own research and testing to find what works best for your mining hardware. What we’re trying to say is not all software is made equal. ProfitabilityĪlthough there are many factors that affect mining profitability the software you choose will have some influence on mining rewards as well. However, keep in mind those features typically cost extra in fees so make sure it’s worth it for your mining needs. Some of the platforms mentioned here will have a web console or app that allows users to reboot and adjust overclock settings remotely. Having the ability to remotely manage your mining rigs is key, especially for those with multiple mining rigs. However, when first starting out you may want to choose a platform that doesn’t as this can be quite a task to learn. We strongly recommend choosing software that enables OC settings for each algorithm. This limits the rig to settling on one OC setting to mine with which can limit the rig’s full potential. Something we never really cared for when it came to NiceHash was the fact you couldn’t adjust overclock setting within the software. Therefore, it’s nice to have a way to monitor or even temp limit setting to ensure your rig doesn’t run too hot or at least a way to easily monitor temps so you can adjust the fans if need be. However excessive heat is the number one killer to any computer component. In another article, we mention how mining doesn’t damage your GPU if your following best practices. Make sure you read and understand each platform’s fee structure before settling your rigs on it, especially the withdrawal fees. Typically, the software is free to download and get started but will charge a dev fee from the mining rewards to help fund the software’s future development. When it comes to choosing the best NiceHash alternative for your needs you need to pay attention to the fees that will be applied for using the software. Make sure the mining software your using allows you enable this, so your coins are less at risk of being stolen. 2fa ads a second layer of security to any accounts you might have to prevent a malicious event from happening to. If you’re not familiar at all with two-factor authentication(2fa) then we highly recommend you learn more about it, especially if you’re looking into crypto. Factors for Choosing a NiceHash Alternative 2fa Security But before we begin revealing our top picks lets cover some of the factors for considering an alternative. The good news is that these days there are quite a few NiceHash alternatives to pick and choose from. What makes us here at Crypto Miner Tips wonder is if this was, in fact, an inside job due the recent reports of a former NiceHash Co-Founder being arrested for another crime tied to millions of dollars stolen.Įver since the hack, many users of the platform have been on the hunt for a new platform they can fully trust. Other reports show that NiceHash has stopped the repayment process at 82% due to the fact that the company is running out of money to do so. NiceHash did, however, implement a repayment program, however, in 2020 the funds are still not fully repaid to those who suffered losses from the hack. This left NiceHash users who trusted the platform with their funds high and dry and little hope of recovering their lost funds. No one knows exactly how much bitcoin was stolen but analysts estimate it to be around 4700 BTC worth approximately 62 million USD at the time of the event. NiceHash reported that hackers had managed to execute a withdraw from the platform. However, that’s all changed since the platform was breached during the height of Bitcoins last bull run in late 2017. For many miners, this was a simple easy solution to making money with mining. What made its marketplace so unique and popular was the ease of connecting buyers with sellers of hash power. NiceHash was launched in 2014 and for a long time was one of a kind marketplace for mining. Additionally, stick around to the end where we reveal our favorite one of them all.īut before we get started, we wanted to share with you the recent news about NiceHash which relates to why miners are looking elsewhere in the first place. So, for the purpose of this guide, we wanted to share with you our top recommended NiceHash alternatives and some key factors for choosing one as your preferred alternative to NiceHash. However, not all are viable solutions to mining cryptocurrencies.
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