There are many mining platforms and software in the crypto-mining sphere that one can use to mine cryptocurrencies. This blog will focus on the two most talked about cryptomine platforms, BetterHash and NiceHash.
One shook up the industry with its launch in 2018, which allowed everyone to start extracting cryptocurrency with their existing computer system. And the other used the concept of sharing economy to help everyone with cryptocurrency mining.
But when it comes to choosing one, it becomes a tough task for anyone. We will have a detailed comparison to find out which is a better mining platform for you.
BetterHash vs. Nicehash
What is BetterHash?
BetterHash is one of the best mining software that allows anyone to mine cryptocurrencies with their existing computer system and start profiting right away. The software is specifically designed for Windows 64 bit OS and mining Bitcoin-like cryptocurrencies.
Its simple interface makes it an excellent option for beginners who want to mine cryptocurrencies and advanced settings, making it ideal for mining software for professional crypto workers.
More features of the BetterHash mining software:
- The quick and easy setup process for beginners and additional options help experienced professionals get a more personal experience
- Supports mining of a wide range of coins including Bitcoin, Ethereum, ZCash, Monero, Dash, Ethereum Classic and Bitcoin Gold
- Automatic updates
- Automatic mining of the most profitable currency
- Zero mining fees
- Supports GPU and CPU mining
- Can connect and monitor ASIC miners
- Benchmark tool
- Autostart with system
- Payment in Bitcoin and other cryptocurrencies
What is NiceHash?
NiceHash is a Slovenian cryptocurrency hash broker. It is a marketplace that connects all sellers and buyers of hash power.
Here the seller quotes the price of hash power and, if the buyer agrees, is redirected to the pool the buyer has chosen for mining. And both seller and buyer receive cryptocurrency as a reward.
In this comparison of BetterHash and NiceHash, we will focus on a few key factors to choose the best one.
More features of NiceHash are:
- Can buy a huge amount of hash power and use it in a short time
- Flexible order prices mean you can change the price, amount and limit without canceling the order. This ensures that you get the lowest price if there is an option in the market.
- Flexibility in pool selection
- Pay as you min
- Detailed statistical report on order status
- Independence of the time factor, which means you do not have to worry about the coin still being popular in a year
- Two marketplaces: EU and US
- Allows two order types: fixed for stable mining and standard for competitive mining.
BetterHash allows cryptocurrency mining from your existing computer system, whether it is CPU, GPU or ASIC. It allows you to start mining through its platform with the little hash power your system generates and start taking advantage of it.
Whereas with NiceHashyou can buy a huge amount of hash power for shorter or longer than one day and min at your favorite pool.
Here, NiceHash is truly the leader over BetterHash in hash power, the key to successful cryptocurrency operations.
User interface and ease of use
That BetterHash the platform has a smooth user interface and its powerful tools are suitable for both beginners and experienced miners. The platform supports automatic mining of the most profitable coin, which is a convenient feature for beginners. The automatic update feature makes it less inconvenient for users to keep software protected from malware and hacking attempts.
NiceHash has now been operating for several years and has a stable work platform. The platform is best for beginners to master cryptocurrency mining and experienced miners who want to get the most out of the mining process. Most of the process is automated except for placing the bid amount for hash power.
Unlike in BetterHash, which automatically extracts the most profitable coin, with NiceHash you have to find the most profitable coin and choose the pool you want to extract.
In terms of usability, BetterHash has a clear edge over NiceHash.
BetterHash has a zero-cost structure, which means that it does not charge any fee for mining cryptocurrency on its platform and payouts. However, users need to have their mine hardware, which is still a capital-intensive proposition.
Whereas NiceHash has a fairly flexible cost structure and you pay as you mine. It also allows flexible pricing on orders, which means you can change the price, amount and limit without canceling the order.
This ensures that you get the lowest price if there is an option in the market. The user is also saved from investing in capital-intensive mining rigs.
The minimum order size is 0.005BTC for each algorithm you pay only for valid shares.
Here, NiceHash has a clear cost advantage over BetterHash.
If you compare the profitability percentage for BetterHash and NiceHash on different mining hardware, BetterHash seems to be on an excellent basis, whereas NiceHash shows lower yields.
The following is the yield comparison on the different processors:
AMD Ryzen 9 3900X 12-core processor
Intel CPU i5-9600K
Both BetterHash and NiceHash are different from each other. The choice is difficult as to which option is better for cryptocurrency mining, but I will give my vote to NiceHash.
NiceHash shows a clear advantage in terms of cost structure and getting higher computing power. But in terms of profitability, it loses that advantage; however, it is compensated by not investing in the establishment of expensive mining units. If you are aware of a profitable coin, through mining with NiceHash, you can earn higher profits.
It all boils down to economics above the technical specification that NiceHash benefits from. I hope I have made your choice easier.