Cryptocurrency Q&A How much of a cut does NiceHash take?

How much of a cut does NiceHash take?

DaeguDivaDanceQueenElegantStride DaeguDivaDanceQueenElegantStride Wed Oct 16 2024 | 5 answers 1195
I'm using NiceHash for cryptocurrency mining and I'm curious about the fees they charge. I want to know how much of a cut NiceHash takes from my mining profits. How much of a cut does NiceHash take?

5 answers

MysterylitRapture MysterylitRapture Thu Oct 17 2024
BTCC, a leading cryptocurrency exchange, offers a diverse range of services that cater to the needs of traders and investors alike. Among its offerings are spot trading, which allows users to buy and sell cryptocurrencies at current market prices, and futures trading, which enables traders to speculate on future price movements.

Was this helpful?

236
56
Alessandra Alessandra Thu Oct 17 2024
NiceHash operates on a fee structure that involves taking a percentage of the payments made by buyers. Specifically, the platform charges a 2% fee on transactions, mirroring the approach of mining pools that deduct a small percentage from miners' earnings.

Was this helpful?

257
51
Raffaele Raffaele Thu Oct 17 2024
This fee model ensures that NiceHash can maintain its operations and provide a reliable service to both buyers and sellers of hashing power. It's a common practice in the cryptocurrency mining industry, where platforms and pools often charge fees to cover operational costs.

Was this helpful?

107
36
Margherita Margherita Thu Oct 17 2024
However, it's important to note that additional fees may arise when using third-party mining software, such as NBminer. In the case of NBminer, users may encounter a 1% development fee (devfee), which is separate from the NiceHash fee.

Was this helpful?

229
82
Andrea Andrea Thu Oct 17 2024
On the other hand, NiceHash's own mining software, Excavator, does not impose any devfee, making it an attractive option for miners looking to minimize their expenses. This feature can be a deciding factor for miners choosing between different software options.

Was this helpful?

366
42

|Topics at Cryptocurrency Q&A

Get the BTCC app to start your crypto journey

Get started today Scan to join our 100M+ users

The World's Leading Crypto Trading Platform

Get my welcome gifts