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 How to transfer your earnings from Nicehash?

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jett138
post Feb 17 2021, 12:52 PM

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QUOTE(zeroblaze @ Feb 16 2021, 11:56 PM)
Hi guys,

Newbie to cryto mining. I'm currently mining from Nicehash. Just started mining about a week ago. I tried googling around but it seems to be Coinbase is not supported in Malaysia (nearest is SG).

Questions:
1. How do you all transfer/manage your BTC earnings?
2. What's the easiest and cheapest way to cash out to MYR?
3. What wallet to use if I don't want to cash out and keep my mined BTC?

Thanks in advance!
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Best way is to conver to xrp / ltc once you accumulated certain amount to either sell or position yourself back to stable coins or other alt coins of your choice.
since these 2 are the most common used and one of the cheapest in transaction fees.

2. most hassle free way is to directly sell at luno but will cost you 4% if not mistaken.

3. you can store in nicehash, other exchange or transfer to physical wallets.

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alternative way of playing is to keep your mining profits in nicehash, learn to mine on other software or pools and buy hash power to mine back the coins into your other wallet.
need to check from time to time. you will be able to get more coins than you initially mined or less depending on hash power rates.

This post has been edited by jett138: Feb 17 2021, 12:54 PM
jett138
post Feb 18 2021, 05:17 PM

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QUOTE(wongtheboy92 @ Feb 18 2021, 12:15 PM)
May I know what is the exchange fee? Is it worth doing so? Seems like losing quite a bit on exchange right
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https://www.nicehash.com/support/exchange/g...l/exchange-fees

worth or not depending on market condition, you can make back the money or lose the money altogether with the fees.
jett138
post Feb 19 2021, 01:50 PM

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QUOTE(JimWayne82 @ Feb 19 2021, 01:21 PM)
user posted image

Direct change to XRP from BTC charge around 1 XRP. Transfer out XRP from Nicehash also charge less than 1 XRP.  biggrin.gif
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Jim, you can make more money by hitting on those algo bots, first 4 sell and buy prices is the same pair running different spreads. I usually spook the prices until they play into my interest. The bots aren't smart. At least the settings required calibration.
jett138
post Mar 19 2021, 12:31 AM

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QUOTE(Julian2103 @ Mar 18 2021, 07:23 PM)
I'm sorry but could you ELI5 please? I just started using Nicehash as well and am looking for a way to cash out cheaply.
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XRP, EOS, XLM to any wallet / exchange you want.

If Luno just do XRP, LTC will take more than 10 mins sometimes. XRP so far fastest.

 

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