NiceHash Affiliate / Referral Program

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NiceHash Affiliate Program Url: https://www.nicehash.com/?p=faq#faqg5

Website Url: http://www.nicehash.com

How to contact: info@nicehash.com

What is it? NiceHash is a hashing power marketplace where you can buy massive hashing power from other miners in short amount of time.

Category: Mining

Affiliate payout in Bitcoin? YES

Which non-Bitcoin payout methods do they support? NO

Revenue Share Percentage: 3,00%

One Time Commission: NO

Lifetime Revenue Share: NO

Affiliate Referal Commission: 0,15% of order amount (5% of revenue share)

Additional Program Info:

Supported Crypto-Coins: Bitcoin

US Users / Players allowed? YES

The world of crypto currencies can sometimes be confusing for inexperienced observers. The fact that thousands of alternative “coins” (so-called “Altcoins”) are now flocking alongside top dogs like Bitcoin or Ether does not, of course, help to improve this situation.

Accordingly, it is difficult to answer the question of how one can profit from this new form of currency, which is currently still seen by many as a playing field for speculation. A provider named Nicehash gives the answer and sells his service as an opportunity for (almost) everyone to profitably participate. But the calculation is not so simple, as it presents for instance Business Insider.

Automated Mining Strategy

What Nicehash does in principle is to convey computing power. Sellers provide their hardware. Buyers, in turn, invest money in order to get a variety of coins from them. The distribution of coins is a reward for the network of the respective means of payment for the cryptographic confirmation of transactions.

For this service, the seller is paid in the form of Bitcoins, while the buyer, depending on the order, also receives Bitcoins or another crypto currency. However, Nicehash is committed to using the user’s hardware as efficiently as possible. Before you get started, a performance test determines which coins are particularly profitable with your own hardware – measured by their current price and calculation difficulty. These are then partly exchanged for Bitcoin for payment. The service cuts in by means of a royalty and payout fees, which are incurred if one has one’s own Bitcoins sent to another digital purse.

Good graphics card as a prerequisite

What sounds tempting, however, is not particularly worthwhile for many computer users. A prerequisite for the scouring of most coins is at least a powerful graphics card. The best output is provided by the current AMD and Nvidia models. However, the prices for the “entry-level class” in terms of mining – AMD’s RX580 and Nvidia’s Geforce GTX 1070 – have virtually exploded in recent months due to the crypto hype. Stocked cards are, if at all, only available from a price range of about 600 Euro and thus almost twice as expensive as when they were released.

Anyone who already has such a graphics card has been lucky. A new purchase, especially if you don’t need the card for video games or other purposes anyway, doesn’t pay off. Many currencies can no longer be mined profitably with a single card, since the complexity of calculation can only be sensibly managed with so-called “mining rigs”, i.e. specialized computers with several graphics cards.

Bitcoin pocket money

In addition, the electricity price in Austria, with an average of around 20 cents per kilowatt hour (as of 2015), is also significantly higher than in countries such as the USA (around 13 cents, as of 2016). Also not included and difficult to calculate is the wear and tear caused by a high permanent load due to temperature and wear of the fans on a graphics card.

The average gaming computer will therefore hardly yield more than a bit of “Bitcoin pocket money” per month. For business insiders, the Nicehash Profitability Calculator on a Geforce GTX 1070 (currently in stock, mostly over 700 euros expensive) calculated a sum of 2.25 dollars (about 1.8 euros) per day. In addition further problems join themselves, because the erschürften Bitcoins can be spent so far only with few Dienstleistern and dealers directly and must be converted therefore again into Fiat money. In addition one uses usually a crypto stock exchange, which makes this exchange possible.

That costs however again fees. On the one hand there are those that the Bitcoin network automatically charges for a transfer, and on the other the transaction fee that the exchange itself charges for its trust service. So before a Nicehash bit coin is converted into real money, several parties cut in, which further reduces the already small profit.

Actual profit hardly calculable

Finally, it is difficult to calculate how much you will get, because the retail price of the Bitcoin is still very volatile. In mid-December, it boomed to almost 20,000 dollars, followed by a crash to under 7,000 dollars in six weeks. In the meantime it has reached around 8,700 dollars. It is hard to predict whether positive news will soon drive it far up again or whether regulatory measures in countries important for cargo handling will push prices down again.

The wild development could also be an indicator that many inexperienced investors are now involved, who enter hype phases too late and very quickly sell their coins again on a massive scale in the event of a crash. Nicehash also provides information during the installation that the stated profitability is only a current benchmark.

Nicehash hacked in December

It is also important to know that Nicehash only became a victim of a hack at the beginning of December. Unknown persons were able to seize about 4,000 Bitcoins worth about 63 million dollars at that time, whereupon they blocked their own offer for two weeks. In the same month, the company’s CEO resigned.

In the meantime, a repayment program has been announced. The users concerned are to be gradually refunded their lost credit balance. In view of the fact that the Bitcoin is unlikely to reach record heights so quickly, this is little consolation.