Hey, i'm not long into the mining business and i have some questions.
I finished my first mining rig with 6x Gtx1080ti 11GB and now i ask myselft, what is the best way to mine.
I found Nicehash, and i really like it that they pay you out directly in BTC.
When you mining directly in a pool for just one currency, for example ETH or Zcash, you have to check the market prices every day and you need to exchange them with fees and a lot of work.
So why not everyone is using nicehash? Do you earn much more money when you mine directly?
And are you switching between the coins manually?
Thanks
A few downsides.
- Like you mention, you make less. Nicehash takes a cut for being the middleman.
- I am not 100% sure if nicehash uses the latest, most optimized miner, so another few % slower because of slower miner.
- You can't tweak GPUs to optimal settings, since each algo need different core and mem for best performance and best hash/watt ratio. Using a stable setting for all coins means poor optimization, another 2-5% loss.
- Nicehash may not support the most profitable coins.
In short yes, we earn more by mining ourselves. Sometimes ALOT more, usually 5-10% more.
You can use nicehash pools to get the autoconvert. They also come with the upside of being nearly always up. Unlike zpool where you lose 10-20% a day sometimes due to DDOS. If you use the nicehash wallet to store your BTC the fees for transfering it to wherever you want are super low compared to other wallets. So there is a few upsides. But yes using the nicehash miner generally gets you 10% less.