NiceHash Noob question

[Bobbysixjp]

So I just started mining using NiceHash with my 6800XT. I was just wondering how I get paid? I know it is in Bitcoin but how do I change Bitcoin to money? Is it easy to do?

[bellabichon]

You get paid by setting up a bitcoin wallet and giving your mining program the address. As for exchanging into normal currency, there are a ton of options, each with different rates and fees. I'd suggest you do some research into what rates are good at the moment. 

[Bobbysixjp]

21 minutes ago, bellabichon said:

You get paid by setting up a bitcoin wallet and giving your mining program the address. As for exchanging into normal currency, there are a ton of options, each with different rates and fees. I'd suggest you do some research into what rates are good at the moment. 

So could I somehow convert my Bitcoin to PayPal for example ?

[GorujoCY]

31 minutes ago, Bobbysixjp said:

So could I somehow convert my Bitcoin to PayPal for example ?

nope, if you want to convert bitcoin to actualy money, choose your local currency, do some research and see if it is worth withdrawing all your bitcoin or should you mine a little longer...
otherwise you can "transfer-convert" to another cryptocurrency that it's worth more... (like maybe dogecoin)

Note: im not a cryptominer or professional at cryptomining, im just saying based on my assumption or what i think it would be logical and i dont have much knowledge about nicehash

[Czargasm]

You have a few options here for how to get a payout for your BTC.

 

1) Signup for a BTC exchange like binance and link it to your bank account and you can sell your BTC there and they will deposit it in your bank.

 

2) Find someone that has paypal and wants to buy your btc and work out a trade that way (kind of risky.. you could get scammed)

 

3) Find a bitcoin atm near you that buys AND sells bitcoin. It will pay you like an ATM usually. They give a crappy exchange rate generally however since they need to make a profit too.

 

4) Advertise you are selling bitcoin on craigslist or kijiji for cash. Again could be risky.

 

5) Maybe keep it and use it. Tons of places to buy stuff online with bitcoin these days. You can get gift cards etc. 

 

Also I know paypal has been doing something with crypto recently but I don't use them at all so I have no idea. I think you can just buy it maybe? Might be able to sell though as well. I would poke around in there a bit.

 

Also you might benefit from my experience here. I have used NiceHash and they were alright but I switched a few months ago to something called BetterHash and for whatever reason I make more money and they don't charge any fees. Still very user friendly too. Might be worth having a look.

[Mick Naughty]

I got coinbase years back. Simply select that in my nichhash app and send it there. Then convert the bitcoin to usd, then send it to my wallet. Easy task that takes about a minute.

[tikker]

Register at an exchange and convert to fiat there. Don't go through shady routes.

4 hours ago, Czargasm said:

Also you might benefit from my experience here. I have used NiceHash and they were alright but I switched a few months ago to something called BetterHash and for whatever reason I make more money and they don't charge any fees. Still very user friendly too. Might be worth having a look.

From a quick look with BetterHash you mine your own coins. That's different form what NiceHash is and would explain why it's more profitable.

5 hours ago, GorujoCY said:

otherwise you can "transfer-convert" to another cryptocurrency that it's worth more... (like maybe dogecoin)

Do realise that Dogecoin was literally created as a joke and is not a "valuable" cryptocurrency.