NiceHash is the only known and trusted marketplace for buying and selling hashing power. It connects sellers and buyers of hashing power in one place and it’s also a well-established brand in the world of cryptocurrencies.
If you are owning mining rigs or want to utilize the power of your PC, laptop or even a server, you can download NiceHash Miner and start earning Bitcoins right away. No special configuration or contracts are needed. It is totally anonymous as you don’t even have to register. Buyers of hashing power are paying you in Bitcoins in exchange for your hashing power, which is currently used to mine the most popular ZEC (Zcash). Now, there are more than 30,000 miners that are mining Zcash with NiceHash and together they are providing more than 1,000 kSol/s!
On the other hand, if you don’t own the equipment, NiceHash allows you to buy hashing power from miners mentioned above. Meaning, NiceHash works as a cloud mining service as well.
The main difference between NiceHash and other cloud mining services is in the fact that you can buy massive hashing power and spent it for mining in short amount of time, without long term contracts. This means that you don’t have to wait for months or years to see a return, but you can use desired hashing power in 1 hour, 24 hours, a week or maximum 14 days. It’s up to you for how long you want to mine.
The prices of buying hashing power are very dynamic – NiceHash itself does not set the prices, those are set by the buyers as they bid on the marketplace. If there is more competition (more orders) the prices goes up and if there is less competition (fewer orders) the prices goes down. This also means that the sellers (miners) will earn more or less depending on the status of the market.
For mining Zcash (ZEC) you can choose between three different approaches.
If you don’t want to bother yourself with finding the pool to mine Zcash (ZEC), calculating limit, and monitoring the marketplace, you can buy one or more 24 hour long contracts (that is very similar to fixed orders described below). There are four plans you can choose from. When you choose a plan, all you have to do is enter your Zcash t address and the mining can start. The pool pays out ZEC every 5 minutes, starting from 0.001 ZEC.
If NiceHash is by some chance unable to provide you a hashing power or their pool is not responding, they refund you the remaining funds you have not yet spent on the order. You can also cancel the contract at any time.
If you want to have more control over the limit or hashing speed and you want to mine on any pool of your choosing, you can place a fixed order. The price of the fixed order is already set (calculated in regard to demand and offer), all you have to do is save your favourite pool, set the speed you want to spend in the day of mining and the amount of BTC you will pay for your order (this is the value that determines the maximum number of BTC you will spend on the order). Approximate duration is calculated in real-time as you change the speed and amount.
Last option is the most dynamic and competitive option for buyers. You can control the price and bid on it. On the other hand, others can outbid you with the higher price and you will lose some miners. If you stay without miners, your order will be on idle until miners will be available again. You can increase the price for your running order (and that does not change the maximum amount you will spend on the whole order!) to get more miners. Similarly, if you think that the price can be decreased and you will still keep the miners, you can also do that. With limited you control what is the maximum speed you are willing to take. The amount is again the amount of BTC you will spend on your order.
All three types of cloud mining allow you to monitor your mining and view detailed statistics. Now, all you need to do is register new account and deposit some BTC to it and you are ready to mine Zcash.
This is a paid press release. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
US banking regulators are looking to clarify crypto rules in 2022 – The Verge
One of them is already working to make banks’ responsibilities clearer
The Federal Reserve, Federal Deposit Insurance Corporation (or FDIC), and Office of the Comptroller of the Currency (OCC) have issued a joint statement announcing a plan to clarify the rules and regulations around how banks can use cryptocurrencies over the next year (via Bloomberg).
The agencies say they’re focusing on setting expectations for what banks can do when it comes to holding crypto, allowing customers to obtain crypto, issuing their own stablecoins (or cryptocurrencies whose value is tied to a fiat currency like the US dollar), and taking crypto as collateral for loans and keeping it on their balance sheets. According to the letter, the goal is to make sure consumers are protected and that banks act responsibly. The regulators also say it’s an attempt to make sure the financial industry isn’t used to launder ill-gotten currency, something the Treasury Department has been focusing on recently.
The OCC has already made moves in this direction — on Tuesday, the acting comptroller released a letter clarifying decisions that the office had made throughout 2020 and early 2021. Now, the letter says, banks will have to ask permission from regional regulators before getting into certain crypto fields.
Previously, the Comptroller said banks were allowed to hold cryptocurrencies for customers as well as assets being used to back stablecoins. Banks were also told they could use stablecoins and act as nodes on blockchain networks. While financial institutions will still be able to carry out these activities, they’ll have to be able to prove to regulators that they can do so safely and responsibly.
These announcements come as some crypto companies have skirmished with regulators over what legal classifications their products fall under. Recently, Coinbase canceled its Lend program after a public feud with the Securities and Exchange Commission over whether what it was selling counted as securities (and would therefore fall under heavier legal scrutiny). The Treasury has also proposed that large cryptocurrency transfers be reported to the Internal Revenue Service, and has asked Congress to start regulating stablecoins.
Subscribe to get the best Verge-approved tech deals of the week.
Please confirm your subscription to Verge Deals via the verification email we just sent you.
Altcoin Roundup: 3 signs that show crypto mass adoption is underway – Cointelegraph
How To?2 weeks ago
How to use technology in your life? – The Times of India Blog
Mobile4 weeks ago
Google Pixel 6 and 6 Pro hands-on
Tech4 weeks ago
Facebook is now Meta! Metaverse good or bad?
ERP4 weeks ago
All you need to know about the provisioning tool for users available in Microsoft Azure with SAP SuccessFactors
Tech1 month ago
First Blog after my old website crashed!
Mobile1 month ago
What all the tech bloggers are saying about iPhone 13?
Games2 weeks ago
PS5 vs. Xbox Series X: Which is better, a review one year later
How To?2 weeks ago
Onyx Boox Max Lumi 2 Review – The best 13.3 e-note money can buy – Good e-Reader