Nice hash miner

[The_legend100]

I’ve just started mining for crypto on nice hash but I never made a nice hash wallet. I only made a bitcoin wallet on a different website. You only get paid out at 0,01 bitcoin. Is there anything I need to do to get paid out apart from reaching 0,01 BTC? Any info will help. Thanks

[Airdragonz]

I recommend making a NiceHash wallet and a Coinbase wallet. And maybe a BitPay or Electrum wallet if you worry about your coins being hacked. Here's why. Mining fees to a NH wallet is lower and payout threshold is a tenth of that needed for external wallets. From NiceHash wallet, you can withdraw to Coinbase wallet for free, 0 fees from withdrawing from NiceHash and 0 transaction fees. 

[StillOnH81]

1 minute ago, Airdragonz said:

I recommend making a NiceHash wallet and a Coinbase wallet. And maybe a BitPay or Electrum wallet if you worry about your coins being hacked. Here's why. Mining fees to a NH wallet is lower and payout threshold is a tenth of that needed for external wallets. From NiceHash wallet, you can withdraw to Coinbase wallet for free, 0 fees from withdrawing from NiceHash and 0 transaction fees. 

I may try this, is there any way to transfer this to my current Wirex account?

[knightslugger]

2 minutes ago, Airdragonz said:

I recommend making a NiceHash wallet and a Coinbase wallet. And maybe a BitPay or Electrum wallet if you worry about your coins being hacked. Here's why. Mining fees to a NH wallet is lower and payout threshold is a tenth of that needed for external wallets. From NiceHash wallet, you can withdraw to Coinbase wallet for free, 0 fees from withdrawing from NiceHash and 0 transaction fees. 

i would recommend this approach as well, BUT it is NOT SECURE. You DO NOT have access to the private wallet keys from Nicehash OR coinbase. if you don't have the keys, IT'S NOT YOUR WALLET. Due diligence on your part to secure your crypto is ON YOU.

[knightslugger]

2 minutes ago, StillOnH81 said:

I may try this, is there any way to transfer this to my current Wirex account?

No, any external (non-Nicehash owned) wallet addresses must meet the .01BTC threshold before a payout is generated. You can certainly change the external payout destination in the nicehash mining software to whatever wallet you have setup elsewhere, but each wallet address must meet the .01BTC threshold to trigger a payout. that means if you have 2 external wallet addresses, each address will be required to have earned at least .01BTC since the last payout cycle to trigger a payout. It is not possible to transfer earnings from one address to another.

[The_legend100]

So if I just carry on mining and I hit 0.01BTC I will get paid out? I don’t need to do anything else?

[knightslugger]

5 hours ago, The_legend100 said:

So if I just carry on mining and I hit 0.01BTC I will get paid out? I don’t need to do anything else?

correct. .01 will trigger a payout to an external wallet when transaction fees are low.