Everyone is searching for alternatives to Nicehash. The NiceHash exchange is a place where people turn in their computing power over to miners who want to create a new coins. This makes it easier for users to get access to mining solutions without having to compete with massively large miners from all over the world.
In this guide, we are going to share with you which are the alternatives to Nicehash. There are some platforms that are sharing with users the possibility to mine a wide range of virtual currencies. Although not all of these platforms will necessarily replace Nicehash, it is always good to have alternatives to Nicehash.
NiceHash Miner — An advanced auto miner that supports the latest algorithms and miners. No need to view tons of configuration files, various versions of mining software, configuration settings or cryptocurrency coin market analysis. NiceHash has become one of the most popular ways to mine Ethereum (ETH). Whether you’re new to mining or an experienced miner looking to use NiceHash, here are a few things you should know about using this cloud mining software. What Is NiceHash? Based in Slovenia, NiceHash is the world’s largest crypto mining marketplace.
Table of Contents
- Alternatives to NiceHash
What is Nicehash?
NiceHash was confirmed to be hacked a few years back with hackers moving lots of investors Bitcoin from the platform.
Though NiceHash hasn’t come out to mention the number of Bitcoins that were stolen Reuters has reported the figure to be around 4,700 Bitcoins which is worth over $60 million at the time of writing. However, this amount has reached a price of $282 million in 2021.
NiceHash has currently stopped mining operations while investigations are ongoing to know what exactly happened. A few days later, Nicehash’s service was relaunched, but some of the users lost faith in what was the most user-friendly mining platform.
Nicehash Miner Linux
Pending the time NiceHash resumes operation, there are alternatives you can get onboard to make some money through mining. So, what are some good nicehash alternative services?
Alternatives to NiceHash
In the next sections, we are sharing with you the best alternatives to Nicehash. Take into consideration that the platform you use will depend on different things. The alternatives to Nicehash that you want to use are those that offer similar services at a better price. Moreover, you could also search for better services at a lower price.
CudoMiner
Cudo Miner is a crypto mining software that can be downloaded and installed on the PC to mine altcoins. The software was developed by Duncan Cook and Matt Hawkins who are both IT specialist.
The software is compatible with Windows, Ubuntu and Mac OS. To set up the software on your pc, visit the official website of the miner download and install. Then proceed to create an account.
The software offers users many features including automatic algorithm switching that ensures they mine the most profitable coins only. This is done by scanning the coin value and its difficulty and then switching the mining efforts automatically to ensure the user attains the highest profitability at all times.
However, for seasoned miners that know how to optimize their machines to mine a specific coin they can choose to disable the auto algorithm and manually select the coin to mine.
In conclusion, Cudo Miner is designed in a way that it’s easy to use for both new and experienced miners. It’s also one of the few cryptocurrency mining software available in the market that allows users to make profits from the activity.
With a built-in GPU overclocking settings and ISO build, Cudo Miner is an awesome NiceHas alternative.
HoneyMiner
HoneyMiner sets you on a course to make your computer system a mining rig, converting your processing power into some extra passive income. Unlike having to mine by yourself, mining with the HoneyMiner saves you a lot of costs you could have incurred, especially on electricity.
The HoneyMiner app, which is available for Windows OS, is easy to download and set up. All that’s required for registration is a valid email address.
The program is developed in such a way that it automatically detects which coin is most profitable to mine at any point in time, mines it and converts all cryptocurrencies mined into Bitcoin for payout. Payout requests can be made into any Bitcoin wallet with support for Venmo coming soon.
There is also a consideration for those who have previously been into cryptocurrency mining; those with mining farms. The HoneyMiner App can make use of high processing speeds as well to mine cryptocurrencies.
This mining is highly profitable as anyone can join irrespective of their hardware power. The Crypto Calculator helps you determine how much you can earn if you hodl your coins for a specified period.
MinerGate
The MinerGate cloud mining program makes mining profitable and affordable for everyone. You can mine Bitcoin and 14 other cryptocurrencies for a low fee. Hashing24, a Scotland based company, provides MinerGate with the hash power needed for bitcoin cloud mining.
Your hash power determines how much coins you can mine in a giving period. To purchase a 20GH/s for could mining, you need a 0.0034 BTC one-time fee with a daily maintenance fee of 0.0066 USD which is relatively low compared to other competitors. Pricing for 100GH/s and 500GH/s are 0.017 BTC and 0.085 BTC respectively.
MinerGate’s advantage over NiceHash is you don’t store your coins on the platform. Mined cryptocurrencies are paid directly into your wallets when minimum payouts are reached. So the fear of losing a considerable chunk of bitcoins if the mining company goes down is out of the way. Minergate vs Nicehash? The Nicehash platform is way more profitable than the Minergate one, but the lack of confidence people now have in Nicehash makes Minergate a good alternative.
Kryptex Miner
The Kryptex Miner for Windows users makes mining easy though they do not specify or allow you to determine what cryptocurrency you will be mining. Downloading the application analyses your computer hardware and gives you the fiat value of how much you would be earning daily and monthly. Your earnings are then sent to your Bitcoin wallet address, and you also have the option to get paid with the Qiwi Visa Wallet which is a free online bank card which can be used on the Internet like your Visa card.
Your withdrawal options for your country would give you a guide on which one is best.
Conlcusion
Nicehash is one of the best platforms if you want to mine virtual currencies through cloud mining. Nevertheless, there are some platforms that could work as alternatives to Nicehash. Everything depends on your needs and the platforms that offer these solutions to you.
Is this an overreaction or a valid recommendation?
Nicehash urges its users to 'STOP using Phoenix miner immediately!'
Nicehash Miner Settings
Nicehash is a popular cryptocurrency mining platform for small-time and big-time cryptocurrency miners alike, and they are asking their users to conduct some major changes to their systems. For those who use their gaming PCs for mining, a full OS reinstall is a drastic measure, but Nicehash feels that this level of concern is warranted.
Using Nicehash's software, their users were previously able to download the Phoenix Miner on their platform, making the company complicit in the potential installation of malware onto PCs. Today, the Phoenix miner is unavailable to download, and the program's creator has disappeared off the internet. Nicehash feels that something malicious may have occurred and have dropped their use of the Phoenix miner on their services.
False downloads for the Phoenix Miner have appeared online to capitalise on the disappearance of the software, which means that 3rd part sources for the Phoenix miner cannot be trusted.
Below is Nicehash's announcement regarding the Phoenix miner.
Dear NiceHash users!
It has come to our attention that Phoenix miner is no longer available for download from its original download location. Control shasum from new download locations does not match the value published by the developer on his channel! This brings the possibility that the Phoenix miner's author wants to cover its tracks and disappear or even do something malicious.
We have immediately disabled Phoenix miner from NiceHash Miner, and we advise everyone to stop using Phoenix miner immediately!
Phoenix miner is a mining software from an anonymous author. It is not digitally signed, and no one knows who the creator is. This brings serious risk to anyone who will continue to use this software! Do not try to download Phoenix miner from any 3rd party source since it could be fake and malicious!
Nicehash Miner
If you have used PhoenixMiner on your PC, which contains any sensitive information or information of any value such as logins to various services (accesses to bank accounts, PayPal, Gmail, Facebook, Instagram, Dropbox, Google Drive, etc. ) and especially if your PC contains any private keys for any cryptocurrency wallet, directly or indirectly (through online wallet provider) consider them compromised.
If you have used Phoenix Miner on your PC, we recommend you to do the following:
- Reinstall OS
- Change all passwords and activate 2FA where possible!
- If any cryptocurrency wallets were used on this PC, we recommend you to move funds to other wallets immediately!
Gamers - You have been warned
Many gamers use Nicehash for cryptocurrency mining, running the service on their PCs outside of gaming hours to generate a small profit. This is especially true for those who have access to cheap electricity.
These users, who will likely use their PC to access services like PayPal, Gmail, Facebook, Instagram, Dropbox, Google Drive, and more, will need to take action against this Malware warning, as Nicehash are alleging that their PCs could be compromised.
An abundance of caution, or an advertisement for Nicehash's signed mining software?
Over on the Nicehash subreddit, the Excavator and QuickMiner applications developer has shed some light on the Phoenix Miner controversy. Long story short, the official download of the Phoenix Ethereum miner has been removed from Mega.nz for an unknown reason.
While the software has been removed from MEGA for breaking the company's terms of service, the exact reason for the software's removal is unknown. Nicehash doesn't know what happened to the Phoenix miner or if the software presents any danger to its users.
Some reports online have alleged that Nicehash is using this situation to promote its NiceHash Quickminer software, urging their users to move to QuickMiner while stressing the application's use of signed code. One Reddit user called Nicehash's announcement little more than speculation, claiming that the service is 'spreading fud' to 'promote their own miner'. In their announcement, Nicehash only commented on the Phoenix Miner, not on the other mining applications removed from MEGA.NZ at the same time.
Is cryptocurrency mining safe?
It is not uncommon for cryptocurrency miners to disable antivirus protection on their systems, as antivirus software often reacts to any cryptocurrency mining software. Unknown developers make many cryptocurrency miners with unsigned software, though many miners are available on Github to allow users to look into their codebase.
Malicious mining software has been spread across the internet, and that factor alone has made platforms like Nicehash appealing to low-scale cryptocurrency miners and gamers. That said, Nicehash did allow its users to download the Phoenix Ethereum miner, the software that they have now alleged to be malware.
Whether or not the Phoenix Ethereum miner is malware remains to be seen, and Nicehash has stayed on the side of caution with its announcement. Should the Phoenix miner become proven malware, they have done their due diligence to inform its users. If the Phoenix miner is not Malware, Nicehash will be seen as having overreacted to promote their own (signed) mining software.
You can join the discussion on Nicehash warning its users to abandon the Phoenix miner and reinstall their OS' on the OC3D Forums.