Miners: Get paid in Bitcoins without using Nicehash
Nicehash is a mining marketplace where miners use the Nicehash application and gets paid in Bitcoins. Nicehash miner automatically changes the algorithm being mined based on the current profitability of the algorithm. But the general perceptions among PRO miners is that miners should mine the respective coins directly without mining on Nicehash and such a strategy would give increased profitability than mining on Nicehash.
Miningpoolhub provides a similar functionality to automatically exchange coins, but the coins have to be sent to MiningPoolHub’s pool in this case. For users who want to automatically convert their coins to Bitcoin, but use the pools of their choice, such a facility is available on Bittrex Exchange. It is a feature called “Auto-Sell” on Bittrex and can be found under settings.
According to Bittrex:
Auto-Sell is a feature that automatically sells any currency you specify into Bitcoin. We primarily see this as a convenience for mining pools and large scale miners to convert their coins
- Every 10 seconds, we check your balance. If you have more than the minimum trade size, we market sell your coin for Bitcoin
- Any coins you have in your balance will get sold if the auto-sell option is enabled in that currency, whether you have a balance due to a trade or a deposit
- The price your currency is sold at is dependant on the market price at the time it was sold
- The standard trade fees apply
All that is needed is for the users to point their mining income towards their Bittrex deposit address and to enable the Auto-Sell feature of the respective wallet.