The once ignored cryptocurrency mining is now creating a buzz in the financial market. Although many still consider it a novel idea, large corporations have started embracing it.
Tesla, a giant car manufacturer, has already announced its intention to start accepting crypto payments. Financial experts think that cryptocurrency is going to be the future of currency.
However, the general market will soon be trading with crypto coins like Bitcoin, Litecoin, and Ethereum.
Cryptocurrency mining is a complex process requiring powerful hardware and appropriate software to pull it off.
The two most popular crypto mining software, NiceHash, and BetterHash can help you mine new coins and bring new components to the Blockchain.
They use your computer’s GPU (Graphics Processing Unit) to discover blocks.
It can be tough to choose between these two. We’ve prepared a detailed comparison to determine which one is a better mining software for you.
Let’s get started.
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What’s NiceHash?
NiceHash is a popular crypto mining software that lets you mine and trade cryptocurrency. It’s a Slovenian company that acts as a marketplace for sellers and buyers with hashing power to connect.
For instance, if you’re a crypto miner, you can market your hash power on NiceHash as a seller. Interested buyers will rent computing power from you to mine their cryptocurrency.
This way, you’ll make a profit from renting your computational power. On the other hand, the buyer will comfortably mine cryptocurrency without investing heavily in computing power.
Once they agree on the hash power price, the buyer will be redirected to the chosen mining pool.
NiceHash also enables users to trade cryptocurrencies for profit. It has a profitability calculator that helps every miner to compute their profit.
You can also check your mining operation status and monitor every task remotely. The software lets you control your network devices and track your fan RPM, temperature, load, and profits.
Your equipment’s most profitable algorithms are often determined using a benchmarking methodology. However, you can still pick and facilitate these algorithms manually.
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What is BetterHash?
BetterHash is another top cryptocurrency mining software. It is designed for mining Bitcoin and related cryptocurrencies.
Developed by Matt Corallo, BetterHash has a beginner-friendly interface with advanced features to help you make the most out of your crypto mining venture.
The company securely stores your mined cryptocurrency to give you peace of mind. It also uses 2FA to protect your personal information. It also acts as a virtual notary that validates the transfer of your cryptocurrency using your computer.
You can profit more if you have a computer with a powerful CPU and video adapter to ensure optimal performance. So you better benchmark your PC after installing the software to estimate its earning potential.
One of the notable features I like about BetterHash is the profit option. It allows you to switch between different mining algorithms for Bitcoin and maximize outcomes.
Another advantage is that this mining protocol doesn’t charge you fees for utilizing its services. Besides automatically updating its miners, it also creates a wallet for you and selects the best algorithms.
It has the most profitable mining pools, a simple setup process, no withdrawal fees, over 28 backup pools, and guarantees maximum profits.
With BetterHash, you have complete control over all your mining activities and trades. It eliminates the need for pool operators and minimizes any potential threats.
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Key Features
NiceHash
Notable features of NiceHash include:
- Profitability calculator
- Simple, user-friendly interface
- Option to deposit and withdraw cryptocurrencies
- Buy massive hash power and spend it quickly
- The flexibility of pool selection
- Detailed reports on your order status
- Pay as you mine
- Flexible pricing – change price, limit, and amount without canceling your order and get low prices from the marketplace
- Time independence – it doesn’t matter whether the coin will still be popular or not
- Offers two marketplaces – USA and EU
- Permits two order types – standard option for competitive mining and fixed option for stable mining
- Instant notifications
BetterHash
Features of the BetterHash mining protocol include:
- Easy to set up
- Personalized experience
- Supports multiple coin mining. You can mine Ethereum, Bitcoin, Monero, Bitcoin Gold, Ethereum Classic, and more
- Provides automatic updates
- Supports CPU and GPU mining
- Automatic mining of profitable currencies
- No mining fees
- Connects and monitors ASIC miners
- Autostart with the system
- Offers payment in Bitcoin and various other cryptos
- Benchmark utility
Verdict
It’s a tie for both platforms as they are beginner-friendly, easy to use, with a set of rich features.
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Ease of Use
NiceHash
NiceHash has a simple setup process that gets you mining in a few minutes. Its interface is well organized, with useful content and more utility.
The rig manager lets you start or stop the rigs remotely. You’ll also receive information about fan speed, GPU and VRAM temperature, load, power usage, etc.
With its phone app, you can check all these details to ensure everything is working well.
A nifty graph also helps you track your mining operation’s stats. The platform is clear, transparent, and very consistent with your payouts (after every four hours) to let you know the amount you’ll be getting.
With NiceHash, you can export your payment details and mining stats to PDF or CSV files for tax reference.
NiceHash has two types of software – The simple Quickminer, which works on specific Nvidia GPUs and only mines Ethereum, and a Regular NiceHash miner with profit-switching.
Both versions allow you to adjust the GPU power settings to avoid burning up the graphics card. Adjusting also helps to minimize the wear and tear of your graphics card. Quickminer has predefined optimization profiles that you can set and ensure efficient GPU mining.
Quickminer also automatically overlocks/underlocks your GPU to keep the GPU temperatures below 60 degrees.
At NiceHash, you’ll need to find a profitable coin and choose the pool you wish to mine.
Overall, the NiceHash interface is designed for new and seasoned miners. It has simple navigation since most of its Bitcoin mining process is automatic except when placing a bid for hashing power.
BetterHash
BetterHash has a smooth, basic interface with top-of-the-line mining tools for novice and professional miners. The interface shows you the estimated amount of unpaid shares you owe until you have a specific amount in your wallet.
It has graphs showing the number of shares you’ll get in 10-minute intervals and the hash speed.
The software automates the process of selecting profitable cryptocurrencies. It provides updates to keep up with every miner’s needs and protect itself from malware.
Verdict
BetterHash is the winner when it comes to ease of use. It automates mining for the most profitable coins to help you maximize profit, saving you the hassle of finding a profitable coin and selecting a pool to mine.
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Currencies Mined
NiceHash
NiceHash supports a variety of cryptocurrencies, including:
- Bitcoin
- ETH
- LTC
- XRP
- USDT
- DACH
- USDC
- LINK
- BCH
- XLR
- ZCH
- BAT
- XMR
- Bitcoin Gold
- EOS
BetterHash
BetterHash mines the following currencies;
- Bitcoin
- ETH
- BTO
- BTG
- GRIN
- ZEC
- RVN
- XMR
- XZC
- ETC
- Grin
Verdict
Both platforms support major cryptocurrencies in the market, so it’s a tie.
How it Works
NiceHash
NiceHash connects hash power miners with the buyers. Simply put, NiceHash doesn’t own or have any mining equipment to rent out. The site only connects various end-users without offering options for cloud mining.
On NiceHash, buyers come to the open marketplace to choose a cryptocurrency and a pool they plan to mine. They’ll then set the price and place their order.
The miners running the NiceHash Miner Legacy on their equipment often fulfill the order. The buyer will get their cryptocurrency from the platform’s pool.
You don’t need to operate the complex mining process yourself or spend a dime on mining hardware as a buyer.
As a miner, you can connect your ASICS (mining hardware or PC) or run the NiceHash mining software to the platform’s stratum server and the buyer’s order.
The seller’s hashing power will be forwarded to the buyer’s preferred mining pool. One is paid in Bitcoins for every share submitted at a price determined by the existing weighted average. The price is refreshed every minute.
The whole process is automated.
BetterHash
All the cryptocurrencies mined at BetterHash are stored right within the program.
To process your withdrawals, you’ll need to have an account. Register at the website with your email and password.
Installing and running BetterHash requires that you disable your antivirus software.
The site has a profit switching option to activate different profit algorithms. BeterHash will start looking for the most profitable coin and reward you for it. So be benchmarked to profit from the coin.
In a nutshell:
Once you install BetterHash on your computer, it will download its mining tools. It will then perform a benchmark before it starts and runs the profitable processor and video adapter miners.
The software will create a wallet for each currency to store your income. You’ll use the wallet to transfer your money to your external accounts.
Computational Capabilities
NiceHash
NiceHash allows you to purchase a huge amount of hash power and mine on your preferred pool for a day or longer.
BetterHash
With BetterHash, you can mine your cryptocurrency instantly with your current computer system. You can use your GPU, CPU, or ASIC to mine with any amount of hash power your system generates. It offers a great way to start profiting right away.
Verdict
Since computational power is key to successful crypto mining, NiceHash bags the trophy, it lets you rent massive hash on profitable terms.
Security
NiceHash
Mining is done anonymously with no threat to you. NiceHash is among the safest and most secure crypto mining sites available. When you download it from third-party sites, you will be inviting security breaches.
Your NiceHash account is protected with a 2-factor authorization to minimize hacking and other threats. Every time you place an order on the site, be taken through an SMS authentication process. An SSL certificate also secures the platform.
BetterHash
You’ll not run into any security issues at BetterHash. Its selling point is automating all mining tasks, saving you the risk of endangering your account while working manually.
With its regular updates, the website remains safe to use.
The platform also uses the 2-factor authorization process to give you access to your account. The site is also regularly scanned to identify any potential threats. The site is also protected using an SSL certificate.
Verdict
Both sites offer adequate security through the 2-factor authorization, SSL certification, and other in-house measures.
Legitimacy
NiceHash
NiceHash is a legitimate website where you can conveniently buy and sell the hash power for mining Bitcoin.
It’s duly registered according to the British Virgin Islands laws. So you should be confident when using the site. More details about NiceHash are explained on the official privacy policy page here.
BetterHash
BetterHash is also a legitimate crypto mining site. It works under the United States privacy law and information security.
The platform complies with the GDPR (General Data Protection Regulations) and EU data protection laws to ensure your personal data is well protected.
Verdict
On legitimacy, it’s a tie for both. NiceHash and BetterHash are legitimate mining companies that comply with the laws of relevant authorities in their countries.
Customer Support
NiceHash
NiceHash provides 24-hour customer support. Its agents are courteous and will answer your queries and concerns regarding the software and other related matters. You’re assured of round-the-clock feedback.
They offer support via email, tutorials on the website, and social platforms like Instagram, Facebook, Twitter, Reddit, Github, Discord, etc.
They also have a knowledge base that offers general help, mine help, and help associated with the hash power marketplace.
BetterHash
BetterHash provides customer support through the contact form on its website. They also have an FAQ page with answers to some of the issues miners run into. Besides, this page has a few videos to guide you around the mining process.
Verdict
NiceHash wins as it provides better customer support through multiple platforms.
Pricing Plans
NiceHash
NiceHash has flexible pricing that lets you pay for the crypto coins you mine. It supports flexible prices on your orders, meaning that you can always change the amount, price, and limit without canceling the order.
With this platform, you can get the lowest price whenever the market has an opportunity. It will save you from putting your money into capital-intensive mining rigs.
The minimum order size at NiceHash is 0.0001BTC for each purchase made. Three percent is added to the amount you spent buying hashing power. You’ll also pay a fee for selling hash power on the site.
An order value below 1000 will be charged 0.00001000BTC. Visit the pricing page for more details.
BetterHash
BetterHash does not have a cost structure. The platform doesn’t impose a fee for mining your coins or withdrawals except for the 0.0002 BTC for accessing external wallets. You can check out their fees page here.
You may use BetterHash on multiple computers for free and link one account to all the PCs. When mining with BetterHash, pools perceive the mining fees. To help you maximize revenue, BetterHash selects a pool with excellent performance.
Nearly every pool charges one percent in fees. However, BetterHash doesn’t connect to pools with higher mining fees.
However, you’ll need mining hardware, a capital-intensive proposition from BetterHash. You’ll need a huge capital investment to acquire the hardware setup needed to earn profit from your crypto mining.
Verdict
NiceHash offers more cost advantages as you don’t require any capital investment to start the mining process. Its price structure is also simple.
Referral Program
NiceHash
NiceHash has an affiliate program for all miners. With this program, you bring in new users and earn passive income. If you’re lucky to introduce more than 100,000 people and believe you can keep bringing in thousands of users every month, you can become an affiliate mining partner.
NiceHash affiliate partners must be registered companies.
BetterHash
BetterHash also has a referral program that rewards you with a 50% commission on your BTC withdrawal fee.
When your referral withdraws their Bitcoins, 50% of the transfer fee is yours.
However, this doesn’t apply to BTC coinbase withdrawals or altcoin withdrawals.
Once the referral completes their BTC withdrawal, the company will send your fee commission to your account. It will reflect in your transaction history’s payments section as ‘referral commission.’
Similarities and Differences
Similarities
- Are both cryptocurrency mining platforms
- They both have GPU and ASICS rigs support
- Their hardware management design is web-based
- Miners monitor their accounts’ progress remotely
- They have profitable reward programs
- Native overlocking and custom settings
- Are safe and secure to use
- Have computational powers
- Have advanced crypto mining features
- Simple, intuitive interfaces
- They both offer immediate payouts
Differences
- With NiceHash, you mine directly from the site. BetterHash requires you to download the software on your Windows PC.
- BetterHash charges zero fees, but NiceHash will charge you withdrawal fees and more.
- NiceHash offers multiple communication options than BetterHash
- NiceHash has a slower Bitcoin transfer process than BetterHash
- NiceHash comes with a demo account, but BetterHash doesn’t.
Pros & Cons
NiceHash
Pros
Here are the benefits of NiceHash;
- It has a lightweight OS
- The software is easy to use
- It has a referral program
- The payouts are as low as 0.001BTC
- Comes with a QuickMiner demo account
- You trade your cryptocurrencies directly on the platform
- Has an integrated exchange program
- You get to earn Bitcoins for each share
- Has additional security features for your mining account
- The maker and taker exchange cost structure has a clear organization by trading volume
- Automated mining process
- Selects the most profitable currencies for you
- Has a simple, beginner-friendly setup
- Daily payouts
Cons
- Payments are made in Bitcoin only
- Not available in some global jurisdictions for legal reasons
- Deposit and withdrawal fees apply to minimum values and some currencies
- Limited means for customer contact
- You incur high electricity bills
- Slow profits
- You mine for your buyers and not yourself
- The slow Bitcoin transfer process
BetterHash
Pros
- Zero mining fees for sellers using the site
- Has a simple setup that beginners can easily adapt
- Offers security against hacking
- You get to mine yourself using the GPU and CPU systems
- Offers regular updates
Cons
- Doesn’t automatically move to a more profitable currency
- Not so friendly when you don’t have a powerful system to take care of large transactions
- If your system is not configured correctly, it may return profits.
Frequently Asked Questions
Is NiceHash a Profitable Mining Software?
Yes. NiceHash is a profitable software that allows buyers to pay only for the resources they use. Sellers make a profit by renting out computational power.
What Computer Specifications Do You Need to Install BetterHash?
BetterHash requires a 64-bit PC to mine cryptocurrency. Gaming PCs with modern video adapters are most recommended. Most profitable CPU examples include Intel i7-770000K at 4.70GHz and AMD Ryzen 7 1700X at 4.00GHz. Examples of profitable GPUs include AMD RX Vega 64 and NVIDIA GTx 1080 Ti.
What Exactly is Hash Power?
Hashing power refers to the power used by your PC or hardware to run the different hashing algorithms.
The algorithms help generate new cryptocurrencies and enable the transactions between them (mining).
Mining on NiceHash means you’re selling hash power to buyers (people who want to mine but don’t have the equipment). These people pay you to rent them the hashing power you have on the Hash Power Marketplace.
You exchange your hashing power with Bitcoins.
Must I Have an Account to Work on BetterHash?
Not at all. You can mine on BetterHash without an account. However, it will be difficult to transfer your earnings to another wallet without having an account.
Do I Have to Deposit Money in my BetterHash Account to Start Mining?
No. BetterHash is free to use. It doesn’t impose any fees except for the one requested by currency networks like Monero.
Conclusion – BetterHash vs NiceHash
Although both platforms offer the same services, NiceHash is better than BetterHash. It has an excellent cost structure that lets you invest in the mining process without purchasing the mining equipment. Its computational power is high too.
Mining crypto with NiceHash guarantees higher profits. The profit switching algorithms will direct your hardware to the most profitable coins so you can earn more. It has a very intuitive interface that you can set up in minutes and start mining.
