1. What is NiceHash?
Nicehash is a popular hash power broker and marketplace where users can buy and sell the computational power of their mining devices, known as hashrate. Hashrate or Hashpower, is a computational resource that is a quantification of how much hashing power your computer or mining hardware can produce for the purposes of solving different cryptocurrency Proof of Work algorithms. Nicehash allows users to buy and sell hashpower and point it at the mining pool of their choice where they will be paid proportional to the amount of hashpower they connect.
Nicehash and other hashrate marketplaces allow users to mine on Binance Pool without having to own and run their own mining hardware, and allow users to participate in popular Binance Pool exclusive products such as Pool Savings.
2. How to participate in Nicehash mining with Binance Pool?
Buyers on Nicehash connect to miners (hashrate providers) on the Nicehash platform and choose where they want to submit their hashrate. Buyers can submit either ETH hashrate or SHA-256 hash rate to Binance Pool to be rewarded. Binance Pool is an attractive option for many Nicehash buyers as the combination of low Pool fees and multi payment system means they are often more profitable. Buyers on Nicehash will first need to create a Binance Pool Account in order to route hashpower
For More Information on Binance Pool payout system visit: https://www.binance.com/en/support/faq/32843190fc1c4329a4df024339efa8d8
How to create a Binance Pool Account:
Nicehash users will need to have a Binance Pool account to route their purchased Hashrate to. To create & register an account on Binance Pool Please visit: https://accounts.binance.com/en/register
How to create a NiceHash account:
Please visit https://www.nicehash.com/my/register to register a new Nicehash account. You will then need to deposit Bitcoin into your Nicehash wallet to be able to buy Hashrate on the NiceHash marketplace as all Hashrate contracts are purchased in Bitcoin regardless of the Hashrate algorithm you chose. Please keep in mind, Binance Pool only accepts SHA-256 and ETHash Hashrate.
How to Place an order on Nicehash:
Nicehash marketplace enables two different types of hash power orders to be placed. For more information on the functionality please visit:
How to link NiceHash to Binance Pool.
Once you have created a Binance Pool account and Nicehash account you can configure your worker and stratum proxies.
Available stratum proxies for SHA-256 (Binance Pool):
Supported ports: 8888、3333、1800、443
Available stratum proxies for ETHash (Binance Pool):
Supported ports: 1800、25、443、3333、8888
How to connect Nicehash to Binance Pool:
On the buyer side of Nicehash you will see an option to configure your stratum proxy and the worker name. Please choose from the stratum proxies listed above and input the worker name in the username box that exactly matches your sub account name on Binance Pool. If you have not changed it, the default password for Binance Pool accounts will be 123456
Adjusting Minimal Pool Difficulty
For ETH mining you may need to configure the minimal pool difficulty as seen above.
You can choose difficulty according to the current amount of hashrate for example:
Mining Difficulty =137438953472=2^37=2^7x2^30=128Gh/s,
Mining Difficulty =17179869184=2^34=2^4x2^30=16Gh/s,
The difficulty can be adjusted appropriately according to the amount of hashrate that needs to be connected
Executing a Hashpower order on Nicehash.
Once you have deposited bitcoins on your NiceHash wallet and configured Binance Pool, you are ready to place an order. From here execute the buy order on NiceHash and check your connection on Binance Pool.
You can place your order by going to the Marketplace: https://www.nicehash.com/my/marketplace
For more information on buying Hashrate on NiceHash please visit:
Checking that you are connected to Binance Pool
Because Binance Pool is where Nicehash users are payed out. It is important to make sure your hashrate is connected to the pool properly. It is important to make sure you are connected to Binance Pool. Within 15 minutes of placing your hashrate order, you should be able to see statistics on:
If you have any questions about Nicehash & Binance Pool mining or need any help, please send an email to email@example.com for further consulting.