alternatives to nicehash

[TheBean]

I just started mining with nicehash using my laptop (gtx 1060). I am a college student living on campus so I get free electricity. Currently making about $1/day. After reading a bit on how nicehash works, it looks like its really bloated and i might be loosing money because of so many fees. is there an alternate to nicehash?

[tikker]

Mining coins of interest directly. Profit probably won't increase all that much in reality though.

[TheBean]

thats what im asking... how would I do that?

[tikker]

6 hours ago, The_Vaccine said:

thats what im asking... how would I do that?

First find a coin of interest that you want to mine, perhaps one that is profitable to mine as well. Get a miner that supports mining that coin, a wallet to mine into and a pool to mine in. Some exchanges like Binance allow you to mine to an internal wallet there, but an external wallet that you own yourself is always recommended.

 

After that you'll need to transfer your coins onto an exchange to trade them. Keep in mind there are minimum payouts, minimum transfers and fees nontheless though and they vary per service/pool. For example, the minimum payout to your wallet for ETH on e.g. ethermine is 0.05 ETH (little over 20 days or so of mining for my 1080 Ti).

 

Personally I mine ETH using the T-rex miner on the Binance pool, because it  pays out every day to the internal wallet and I can trade instantly.

[AugOwnz]

Please don't mine on a laptop, you're just asking for trouble. Laptops are not designed to be pushed at 100% all the time so you will sooner or later cook the thing up.

[TheBean]

running at 76c with an overlock. its fine

[airborne spoon]

yeah nicehash fees are complete trash i highly recommend you move somewhere else.

For profit margins your probably gonna have best returns mining ETH, that's what i have my rig mining at this time.

i love ethermine.org they have a 1% pool fee which is fine and payouts are consistent and you can set your payout to as low as 0.05 ETH.

for setup and running i use Phoenix miner its very easy to setup and has a ton of config options, sometimes the newest version comes up as malware with virus programs, (pretty common for mining for some reason) but its totally cool just tell your virus program to ignore that folder and you're good to go

 

For a wallet you have many options however i always prefer to have my own access to my wallet not someone else for ETH i use MetaMask and some friends use My Ether wallet. there is a ton of options just look at the various ones and decide on what one has the level of security with the level of access you desire.

For example my BTC wallet I use Bitcoin Core which is very secure but i can only access it on my home computer.

[TheBean]

2 hours ago, airborne spoon said:

yeah nicehash fees are complete trash i highly recommend you move somewhere else.

For profit margins your probably gonna have best returns mining ETH, that's what i have my rig mining at this time.

i love ethermine.org they have a 1% pool fee which is fine and payouts are consistent and you can set your payout to as low as 0.05 ETH.

for setup and running i use Phoenix miner its very easy to setup and has a ton of config options, sometimes the newest version comes up as malware with virus programs, (pretty common for mining for some reason) but its totally cool just tell your virus program to ignore that folder and you're good to go

do you know if it is possible to use the excavator miner outside of nicehash? excavator seems to give me slightly more performance. 

[airborne spoon]

25 minutes ago, The_Vaccine said:

do you know if it is possible to use the excavator miner outside of nicehash? excavator seems to give me slightly more performance. 

I don't know about using it outside NH however, looking at the graph nicehash has on their site you don't gain squat from using it. And you also need to remember there is a variance in your spped just by the nature of it. My mining rig with 6x 570s goes between 140 and 185mh/s so it's hard to justify a .01 boost by using their software. My one 5700xt goes between 44 and 103mh/s.

Now if it's configureable to mine in a different pool besides NH then I'd say go for it, nothing to lose, but if not I don't see the point in using it.

 

[TheBean]

quick question.. now that i've been using nicehas for a short while, I got bitcoin from that. if I want to send it to my paypal crypto wallet, how can I do that?

[airborne spoon]

15 hours ago, The_Vaccine said:

quick question.. now that i've been using nicehas for a short while, I got bitcoin from that. if I want to send it to my paypal crypto wallet, how can I do that?

short answer NO

 

long answer hell no  if you buy BTC through paypal you are not actually buying BTC as you cant spend or send it anywhere and you don't have a wallet. Basically the BTC bought through paypal is like them saying you own x amount in BTC but you don't have access to it in any way unless you want to sell it back to us. 

If you want to turn your BTC to a fiat currency like USD or EURO you need to send the coin to a exchange, I use kraken.com and they are very user friendly. once your funds arrive in that account you can then exchange it for fiat, then transfer that to your normal bank account.

[TheBean]

12 minutes ago, airborne spoon said:

paypal you are not actually buying BTC

yea I hate that part..