Website Review : SCAM or LEGIT?

Nicehash.com Review SCAM or Legit?

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Nicehash.com Review SCAM or Legit?

Summary

User management: Web & Mobile-app
Company transparency/support: Doubtful
Payment options: Bitcoin, XRP, Bitcoin Cash, Litecoin, Ether, EOS, Basic Attention Token, Stellar, Bitcoin Gold, DASH, OMG, and many more
Reward type/share/pool: N/A
Cost electric power per TH/day (btc): N/A
Contract price per Th/year (btc): N/A
Earning return: N/A

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User Review
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Status: WAITING

pros

  • User can opt from a long list of mining algorithms
  • They show a fixed price range
  • Has an Affiliate program (5%)
  • Payouts in every 4 hours
  • Allows a pretty long list of coins for both deposits and withdrawals

cons

  • NiceHash doesn’t own any mining hardware themselves
  • Charges a non-refundable new order fee (0.0001 BTC) & service fee (2%)
  • The co-founder of Nicehash was arrested in Germany for his alleged cybercrimes.
  • No bank card or fiat payments allowed

Company

NiceHash is not a cloud mining company but an open marketplace. It connects both buyers and sellers of hashing power. It allows buyers to select which coin they want to mine, the pool which they want to price, set a price they would like to offer for the mining process, and place the order at the end. 

The hash power purchase order is forwarded by NiceHash to every miner who is registered on their platform. A miner can select if they would like to fulfill the order. Once selected, the minor’s computing power fulfills the buyer’s order. After the order fulfillment, the miner gets paid for their services. NiceHash is based in Slovenia and was founded in 2014, by Marko Kobal and Matjaž Škorjanc. 

Products

They have a pretty well-designed website. However, it’s not something pathbreaking. They have gone with a color combination that is pretty common in the cloud mining industry. Overall, their website has good features and offers above-average user experience. 

NiceHash is an online hash power broker. They also own a crypto exchange. Their most popular algorithms along with coins that the users choose to mine on respective algorithms are:

#1. SHA-256

  • Duration: 24 hours 
  • Coin: Bitcoin
  • Hash Power: 1.00 PH/s
  • Price: 0.0078 BTC ($70.82)

#2. DAGGERHASHIMOTO

  • Duration: 24 hours 
  • Coin: Ethereum 
  • Hash Power: 1 TH/s
  • Price: 1.9432 BTC ($17644.41)

#3. Script

  • Duration: 24 hours 
  • Coin: Litecoin 
  • Hash Power: 1 TH/s
  • Price: 0.1141 BTC ($1308.44)

Other plans are as per the following:

Nicehash.com Review SCAM or Legit?

Conclusion 

Nicehash has a good website and they also have a pretty good social media presence. Many of their employees also have a presence on LinkedIn. These are signals that make a user believe that they are a credible company. However, many of their users have left negative comments about them on the web. This may be a deal-breaker with many. 

On top of that, their Co-Founder has a shady background and was arrested by the German police for alleged role in many cybercrimes. We believe Nicehash may look good in the beginning as it gives good vibes and has enough trust signals. 

On the other hand, they also have many red flags that make us believe that they may backtrack from their promises. This looks a risky adventure and hence, we suggest users be cautious about them and stay away from them if you have better options. 

Disclaimer: @hashant has no connection to the sites we performed reviews and has not invested in any of the sites we perform a review on and we will never endorse or recommend you to invest in any of this sites. A review is made to help you find a good site among the many. Still, there are no guarantees that the site will perform well over time or are truly legal.

You can ask us to make a review on a particular website. To do so please leave a comment and the site URL on our suggestion page.
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