There are many mining platforms and software in the crypto mining sphere that one can use to mine cryptocurrencies. This blog will focus on the two most talked about crypto mining platforms, BetterHash and NiceHash.
The one shook up the industry with its launch in 2018, which allowed everyone to start mining cryptocurrency with their existing computer system. And, the other used the concept of sharing economy to help everyone with crypto mining.
NiceHash is an online crypto mining marketplace which connects sellers and buyers of computer hashing power. Buyers want to rent out hashing power from this marketplace and use it to mine a certain cryptocurrency. NiceHash in particular offers three different 2FA options, which is pretty useful if you don’t want 2FA to login, but do for withdrawal (you absolutely definitely certainly do). That tackled, one resource I’d suggest checking out is the official NiceHash subreddit. NiceHash is the leading cryptocurrency platform for mining and trading. Sell or buy computing power, trade most popular cryptocurrencies and support the digital ledger technology revolution.
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 is arguably the most popular crypto mining software in the market because it offers a simple outlook on crypto mining management and exchange services. This platform allows miners to monitor their mining activities, and it also serves as a p2p marketplace for people who are interested in buying or selling hash p.
However, when it comes to choosing one, it becomes a tough task for anyone.
We will have a detailed comparison to find out which one is a better mining platform for you.
BetterHash vs. Nicehash: 2021 Edition
What is BetterHash?
BetterHash is one of the top mining software that allows anyone to mine cryptocurrencies with their existing computer system and start profiting immediately. The software is specially designed for Windows 64 bit OS and mining Bitcoin-like cryptocurrencies.
Its simple interface makes it an excellent option for beginners who want to mine cryptocurrency and advanced settings, making it ideal mining software for professional crypto miners.
Nicehash Download Windows 10
More features of BetterHash mining software:
Www.nicehash.com
- The quick and easy setup process for beginners and additional options help seasoned professional to get a more personalized experience
- Supports mining of a wide range of coins, including Bitcoin, Ethereum, ZCash, Monero, Dash, Ethereum Classic, and Bitcoin Gold
- Automatic updates
- Automatic mining of the most profitable currency
- Zero mining fees
- Supports GPU and CPU mining
- Can connect and monitor ASIC miners
- Benchmark utility
- Autostart with system
- Payment in Bitcoin & other cryptos
What is NiceHash?
NiceHash is a Slovenian cryptocurrency hash power broker. It’s a marketplace that connects all sellers and buyers of hash power.
Here, the seller quotes the price of hash power and, if agreed by the buyer, is redirected to the pool, the buyer has chosen for mining. And, both seller and buyer receive cryptocurrency as a reward.
In this comparison of BetterHash and NiceHash, we will be focusing on a few key factors to select the best one.
More features of NiceHash are:
Nicehash Download
- Can buy a massive amount of hash power and spend it in a short amount of time
- Flexible prices on order mean you can change the price, amount, and limit without canceling the order. This ensures you get the lowest price if there is an opportunity in the marketplace.
- Flexibility in pool selection
- Pay as you mine
- Detailed statistical report on order status
- Independence from the time factor, meaning you don’t need to worry if the coin would still be popular in a year
- Two marketplaces: EU and USA
- Allows two order types: fixed for stable mining and standard for competitive mining.
Computational Power
BetterHash allows cryptocurrency mining from your existing computer system, whether CPU, GPU, or ASIC. It allows you to start mining through its platform with whatever little hash power your system is generating and start profiting from it.
Whereas with NiceHash, you can buy a massive amount of hash power for shorter or longer than one day and mine on your favorite pool.
Here, NiceHash is truly leading over BetterHash in hash power, the key to successful crypto mining operations.
User Interface and Usability
The BetterHash platform has a smooth user-interface, and its powerful tools are suitable for both beginners and experienced miners. The platform supports auto mining of the most profitable coin, which is a handy feature for beginners. The automatic update feature makes it less hassle for users to keep software protected from malware and hacking attempts.
NiceHash is now operating for several years and has a stable working platform. The platform is best for beginners to master crypto mining and experienced miners who want to get the most out of the mining process. Most of the process is automated except placing the bid amount for hash power.
Unlike in BetterHash, which automatically mines the most profitable coin, with NiceHash, you have to find the most profitable coin and select the pool you want to mine.
In terms of usefulness, BetterHash has a clear edge over NiceHash.
Cost Structure
BetterHash has a zero-cost structure, which means it doesn’t impose any fee for mining cryptocurrency on its platform and withdrawals. However, users need to have their mining hardware, which is still a capital-intensive proposition.
Whereas NiceHash has a pretty flexible cost structure, and you pay as you mine. Also, it allows flexible prices on orders, which means you can change the price, amount, and limit without canceling the order.
This ensures you get the lowest price if there is an opportunity in the marketplace. The user also gets saved from investing in capital-intensive mining rigs.
The minimum order size is 0.005BTC for every algorithm you pay for only valid shares.
Here, NiceHash has a clear cost advantage over BetterHash.
Profitability
Comparing the profitability percentage of BetterHash and NiceHash on different mining hardware, BetterHash seems to be on an excellent footing, whereas NiceHash shows lower yields.
Following are the yield comparison on the different processor:
Nicehash Quick Miner
AMD Ryzen 9 3900X 12-Core Processor
Intel CPU i5-9600K
Conclusion
Both BetterHash and NiceHash are different from each other. The choice is tough regarding which option is better for cryptocurrency mining, but I will give my vote to NiceHash.
NiceHash shows a clear advantage in terms of cost structure and getting higher computational power. But, in terms of profitability, it loses that advantage; however, it is compensated by not investing in the setting-up of expensive mining units. If you are aware of a profitable coin, through mining with NiceHash, you can earn higher profits.
Everything boils down to economics over the technical specification, which NiceHash is enjoying. I hope I have made your choice easier.
Contents
- BetterHash vs. Nicehash: 2021 Edition