Cryptocurrencies

How to easily mine Bitcoin and get euros

Nicehash is free and open-source software which allows you to initiate Bitcoin mining.
We hear more and more about cryptocurrencies, especially with Bitcoin which is reaching records in terms of value.
The purpose of this tutorial is to introduce you to mining thanks to the simplicity of NiceHash.

NiceHash is therefore the easiest program for all beginners who want to discover the wonderful world of mining.

What to know before using NiceHash

NiceHash has a very good reputation in the community, the big advantage of their platform is recover gains in Bitcoin (BTC). The Btc can then be exchanged for other cryptocurrencies such as Ethereum or in “fiat” currency such as the Euro.

Pay attention to your equipment

Use NiceHash monopolizes your computer’s resourcesinitiator.

The software uses your processor and / or your graphics card to get Bitcoins. the material being put to the test we must be aware that, using intensively you will considerably reduce the lifespan of your equipment.

Cost of electricity, heat and noise

The equipment running at full speed you will consume much more electricity than normal. Used 24 hours the bill may be steep at the end of the year.

The computer will give off more heat and make more noise (ventilation).

So be vigilant.

Profitability

He is hard to say if mining will be profitable.

It depends on your equipment, your investment but also the duration of the mining. The price of cryptocurrency varies a lot.

For information I mine with a GTX 1060 graphics card with 6GB of Ram

Here is a profitability simulation for my card (to be taken with a grain of salt)

profitability nicehash
The information should be taken with great care.
  • Asus CERBERUS-GTX1050TI-A4G

    High quality material

  • Asus PH-GTX1050TI-4G Graphics card Nvidia GeForce GTX 1050TI, 1392 MHz, 4GB GDDR5X 128bit

    4096 Mo hdmi dimension: 192 x 111 x37 mm

  • Asus 90YV0AT2-M0NA00 Nvidia GeForce GT 1030 2048 MB PCI Express Graphics Card

    What you see is what you get! Record performance DisplayPort x 3 (Version 1.4) / HDMI (Version 2.0) / DL-DVI-D outputs

Why use Nicehash?

Nicehash is free and open-source. You will find the GitHub here

The advantage of this software is that it is very easy to use and that it allows‘get Bitcoins which is the “mother” currency.

It is the ideal tool to discover the world of cryptocurrency and earn your first coins.

In fact you really don’t mine Bitcoin but other currencies (altcoins) which are automatically converted to Bitcoin.

Antiviruses don’t like mining software and that’s understandable since it monopolizes hardware resources. It will undoubtedly be necessary to put an exclusion. But rest assured there is no virus.

Using NiceHash

Download

Nicehash is downloadable from the official website.

Once registered you must go to the “mining” tab to access the download.

download nicehash

Choice of a wallet to receive BITCOINS

Before starting mining you need a wallet that can receive your BITCOINS.

NiceHash create one for you, it is on this address that the rewards will arrive:

nicehash mining address

I also recommend that you create an account at COINBASE which allows you to add a bank account and therefore convert your Bitcoins into euros and then recover them in your bank account.

I wrote you a complete tutorial on COINBASE take the time and create your account is very easy.

There is another platform to exchange your cryptos called Binance , for those who are deeply involved you can go take a look.

In summary, you must:

  • 1 account at NiceHash
  • 1 account at Coinbase or Binance

To know

So you benefit from the partnership which allows you to transfer your BITCOINS free of charge to COINBASE in order to convert them into Euro.

Now let’s see how to configure NiceHash.

Once downloaded it is necessary to install the application. Once finished the program starts.

At first launch the program will download the different miners then do a Benchmark.

The Benchmark allows you to see which algorithm is best for your hardware. NiceHash is able to select the most profitable cryptocurrency at time T. It will therefore switch algorithm and therefore cryptocurrency to be mined.

NiceHash interface
Clicking on the Play button NiceHash starts mining.

NICEHASH starts mining. You can follow your earnings on the console but also on the NiceHash site

nicehash site

Payment and recovery of earnings

It’s simple, every Bitcoin you earn is pending payment.

Once you have reached the amount of 0.0001 BTC, an automatic payment will be made in your wallet.

To know

Payment is made every 3 hours by NiceHash.

Convert your BITCOINS into EUROS

With the Coinbase platform

NiceHash & Coinbase are partners, so you benefit from a transfer to the Coinbase platform free of charge !

nicehash coinbase

Just fill in the email address of your Coinbase account and you will receive the funds instantly.

To know

You need 0.0005 BTC to transfer for free to COINBASE

To find out how to convert your BITCOINS into EURO, please follow this tutorial

Nicehash your Bitcoins in Euros

The NiceHash platform is well developed and also allows you to convert BITCOINS into EUROS directly from their platform. Just activate the Wallet “EUROS“.

To activate the wallet you must complete a KYC (you must prove your identity using an identity card).

Once your KYC is validated you can add your bank account using theIBAN of your account.

For the payment thresholds here is what is indicated on the site:

  • 1 per day if you have a NiceHash wallet and have mined at least 0.001 BTC.
  • 1 per day if you have a wallet with an intermediary and you have mined at least 0.1 BTC.
  • 1 per week if you have a wallet with an intermediary and you have mined more than 0.01 BTC.

Depending on your material it will be longer or shorter. Sometimes 1 month! time to have 0.01 BTC

Know that you have an idea of ​​the payment directly on the tracking page of your wallet on the right in the green box.

payout nicehash

I noticed that I was often paid before the date.

Mining review with Nicehash

Nicehash is easy to use software that can generate a few dollars. However, mining has big drawbacks:

  • Electricity (and ecology :))
  • Material and Wear
  • Profitability
  • Noise / Heat

Before you start, analyze it all.

You can invest in hardware if you want to but don’t waste your money!

To know

Only invest what you are prepared to lose!

For those interested in the world of cryptocurrency here are some sources:

Hasheur (a savvy YouTuber who makes cool videos and explains the world of cryptocurrency)

BitcoinTalk (specialized forum on cryptocurrency)

Feel free to ask your questions in the comments. I remind you that I am a novice, I am sharing my experience with you.

Other tutorials will arrive over the months.

Alternative solutions to Bitcoin mining

Mining not right for you? There areother protocols to generate cryptocurrencies.

You have as solutions MasterNode where the Staking.

To buy a MasterNode or Staking there are two French players:

JustMining

FeelMining

The process is simplified as much as possible, you choose the cryptocurrency among the various carefully selected projects.

Once ordered, they take care of everything and in less than 24 hours you start to generate cryptocurrency.

It is then possible to convert the Cryptocurrencies of your projects into Bitcoin then into Euros.

You will find our complete test of the FeelMining platform

feel-mining.com

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