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Quick Start Guide Summary Summary What Is Nicehash? 3 QUICK START GUIDE SUMMARY SUMMARY WHAT IS NICEHASH? 3 REASONS WHY NICEHASH CAN BE USEFUL FOR YOU 4 THE RIGHT TIME TO CREATE AN ORDER ON NICEHASH 5 HASHRATE CONVERSION 6 CRUXPOOL FEE 6 LAST ADVICE FOR USING NICEHASH 7 HOW TO CONFIGURE IT ON CRUXPOOL? 8 ADD CRUXPOOL 8 HOW DO I CREATE AN ORDER ON NICEHASH? 10 HOW TO CREATE A STANDARD ORDER 11 HOW TO CREATE A FIXED ORDER 12 START TRYING NICEHASH WITH CRUXPOOL 13 WHAT IS NICEHASH? NiceHash is the biggest marketplace in the sector of cryptocurrency mining. The rent mining marketplace counts today more than 600 000 daily workers, more than 250 000 daily users and more than 2 millions of orders since their creation in 2014. Cruxpool is fully compatible with NiceHash, the largest open marketplace spe- cialized in crypto mining. If you do not want to invest in hardware in order to mine, or if you’re not sure yet, this is maybe a good starting point. Indeed, you might first want to try it out and begin with renting the computing power of other miners. On NiceHash, buyers and sellers meet and make transactions. Biggest upside to this system, is that you don’t need any technical skills, you simply log in, make your order, enter the pool’s logs and there you go. Below, a chart that represents the whole process. 3 REASONS WHY NICEHASH CAN BE USEFUL FOR YOU IT IS AN EXCELLENT STARTING POINT IF YOU WANT TO START DISCOVER CRYPTOCURRENCY MINING If you are a beginner in the fabulous world of cryptocurrency mining, it can be hard to invest directly on mining RIG. Indeed, a mining RIG costs a lot of money and can be more expensive if you put 4, 5 or 6 GPU cards on the machine. That is why Nicehash can be useful for beginners because it’s possible to simply rent hash power and to try It out and receive your first cryptocurrency mining earnings without a huge first investment. Mining without Hardware is a great way to get a glimpse of how mining works, and help you learn more about mi- ning concepts such as profitability, mining algorithm, dashboard monitoring, etc. Nicehash is therefore the best solution to try cryptocurrency mining when you have not yet mining hardware. YOU DON’T PAY ANY POWER COST If you are a cryptocurrency miner, you know that your mining RIG consumes a lot of electricity. Electricity consumption is one of the biggest cost sources in mining and depends on your location, especially in Europe, it can be really expensive. That is why Nicehash is so convenient, because as you’re only renting the hash power of other mining rigs, you’re not affected by the rates of electricity costs – what you pay is what you get. YOU CAN HAVE EXTRA HASH POWER FOR MORE PROFITABILITY In the case you’re already a miner with rigs connected and currently mining, Nicehash can also be an efficient tool in periods where mining is very profitable, and can be used to add hash power and take advantage of the current profita- bility. Thus, you can earn more and get a boost in profitability without investing in new GPUs for your mining rig. 4 WHEN IS THE RIGHT TIME TO CREATE AN ORDER ON NICEHASH When using Nicehash, you must make sure you’re making an order at the best moment possible, but it can be complicated to know when is the right time and how to know it. In order to make a profitable order, and avoid losing money - I’m surethat you want to avoid that, right ? - you may want to take a look at Watto- mine before making any order and calculate your potential profitability in cloud mining. To calculate your cloud mining profitability to make an order, you have to go on Whattomine. Whattomine is an excellent tool which can calculate hardware and cloud mi- ning profitability. It can also give you hash power for some graphic cards. First, choose the algorithm you want to use for your cloud mining and the coin, for example. Then go to the Coin section and select the cryptocurrency you choose. Enter the hashrate you want. 4 5 WHEN IS THE RIGHT TIME TO CREATE AN ORDER ON NICEHASH HASHRATE CONVERSION Ethereum & Ethereum Classic Beam 1 TH/s = 1 000 000 MH/s 1 MSol/s = 1 000 000 Sol/s 1 GH/s = 1 000 MH/s 1 KSol/s = 1 000 Sol/s After that, put zero on power, cost and hardware cost. You also have to set the pool fee. On Ethereum = 1% CRUXPOOL FEE On Ethereum Classic = 1% On Beam = 1% We sometimes make promotional offers and put the fees at 0% so make sure to check our offers when available! Press Calculate and check the daily revenue. Finally, look at the price/power/day for adjusting your profitability if you are on a standard order and put the amount you want to be profitable with the result of the daily revenue. If you put more amount that can you earn with the daily reve- nue, you will not be profitable. 6 LAST ADVICE FOR USING NICEHASH First, always be aware of the profitability of the cryptocurrency you’re interested in. For instance, you could make profits with a particular algorithm on one day, but lose money on the next day, so always be careful of that. You have to read news and monitor prices before making any moves. Second, always think twice about what you’re investing in – are you trying to catch up on the hype of a crypto without knowing anything about it, just be- cause you saw a tweet or something like that ? Do your own research on every crypto you want to mine – these are investments, it’s not a lottery. Third, be patient and use Nicehash in an intelligent manner. If you’re affect by FOMO (fear of missing out) and try to follow a rally of a coin without thinking you might lose some money in the process – always make sure you’re making an order with a rational mindset. Last, make sure you understand how the mining pool you’re connected to is wor- king: what is their payment scheme, fees, coins available etc. On Cruxpool, we provide all the information required on the homepage but if you want confirma- tion or help please feel free to contact us. You can contact us on Twitter, Face- book, Discord or even on our live chat available on the bottom right corner of our website’s homepage. 6 7 HOW TO CONFIGURE IT ON CRUXPOOL? ADD CRUXPOOL After registering or logging into your NiceHash account, click on Hashrate power marketplace and then on My pools. Once on the page, click on Add new pool, you will get the display below. To set up Cruxpool mining pool on NiceHash, you must fill the following fields in the New pool display. These informations are important that thanks to that, you can mine on Cruxpool when you make an order on Nicehash. 8 HOW TO CONFIGURE IT ON CRUXPOOL? Custom pool name : Custom pool name : Custom pool name : Cruxpool ETH Cruxpool ETC Cruxpool BEAM Algorithm : Algorithm : Algorithm : DaggerHashimoto DaggerHashimoto BeamV3 Stratum Hostname : Stratum Hostname : Stratum Hostname : eth.cruxpool.com etc.cruxpool.com beam.cruxpool.com Port : Port : Port : 25555 27777 23333 Username : Username : Username : Your wallet address Your wallet address Your wallet address Password : Password : Password : x x x Once you have completed these fields, first you have to click onTest pool for as- suring there is a connection between the pool and NiceHash. Then, you can save by clicking on Add pool. You’re done ! You see, it was not that difficult right ? Let’s now move on to the creation of orders. 8 9 HOW DO I CREATE AN ORDER ON NICEHASH? To create an order on Nicehash, go to the Hashpower Marketplace. Once on the page, choose the right algorithm. For Ethereum and Ethereum Classic, select Dagger Hashimoto. For Beam, select BeamV3. Then, choose the server location (Europe, USA), as well as the type of order you want to make (Standard, Fixed). The difference between this two types of orders is the flexibility of the price and limit for an order. It is flexible for a standard order, whereas it is fixed for a fixed order. A fixed order can only run for 24 hours whereas a standard order can run up to 10 days. 10 HOW DO I CREATE AN ORDER ON NICEHASH? HOW TO CREATE A STANDARD ORDER Click on New order – EU or USA – on market and choose Standard order. Settings will be displayed, the following image will appear. Choose the pool you have previously configured, then fill in the other three options. Price : This option sets what you want to pay in Bitcoin to get 1 TH per day. Limit : This option allows you to set the minimum speed per second for your order. Amount : This option sets the amount you are willing to pay for your order. This amount will determine the mining time for your order. This time cannot exceed 10 days. 10 11 HOW DO I CREATE AN ORDER ON NICEHASH? HOW TO CREATE A FIXED ORDER Click on New order – EU or USA – on market and choose Fixed order. Settings will be displayed, the following image will appear. Choose the pool you have previously configured, then fill in the other three -op tions. Price : This option sets what you want to pay in Bitcoin to get 1 TH per day.
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