{"integration": {"category": "Exchange", "description": "\n \u003ch2\u003eWhat is NiceHash?\u003c/h2\u003e\n \u003cp\u003e\n NiceHash is a a global cryptocurrency exchange and hash power broker founded by Marko Kobal and Matja\u017e \u0160korjanc in 2014. With over \u003ca href=\"https://www.nicehash.com/blog/post/nicehash-everything-crypto-in-one-place\"\u003e2.5 million users\u003c/a\u003e (2022), it is one of the largest crypto mining companies in the world.\n \u003cbr\u003e\n \u003c/br\u003e\n NiceHash allows users to rent out their excess computing power so others can use it to mine cryptocurrencies. Miners selling their computing power receive payments in \u003ca href=\"https://www.cointracker.io/price/bitcoin\"\u003eBitcoin\u003c/a\u003e, while buyers can buy \"hash power\" to mine the cryptocurrency of their choice. NiceHash\u0027s marketplace is an excellent spot for miners to earn money and buyers to get the hash power they need to mine cryptocurrency.\n \u003cbr\u003e\n \u003c/br\u003e\n NiceHash recently launched a new cryptocurrency exchange platform called \u003ca href=\"https://www.nicex.com\"\u003eNiceX\u003c/a\u003e. This platform allows users to trade cryptocurrencies using their NiceHash accounts.\n \u003cbr\u003e\n \u003c/br\u003e\n NiceHash allows its users to:\n \u003cul\u003e\n \u003cli\u003eMine cryptocurrencies\n \u003cli\u003eBuy hash power\n \u003cli\u003eStore, deposit, and withdraw cryptocurrencies\n \u003cli\u003eExchange cryptocurrency\n \u003cli\u003eBuy crypto with EUR, USD, and other fiat currencies\n \u003c/ul\u003e\n The platform offers features for both beginners and advanced miners.\n \u003cul\u003e\n \u003cli\u003eFor beginners \u2014 NiceHash provides a simple interface and easy-to-use tools to buy and sell hashing power\n \u003cli\u003eFor advanced miners \u2014 NiceHash offers a range of features, including a hash power marketplace, hash rate calculator, API, and profitability switching\n \u003cli\u003eThe hash rate calculator allows you to input your hash rate and power consumption to see how much you earn per day, week, or month\n \u003cli\u003eThe API lets you integrate your NiceHash account with third-party software\n \u003cli\u003eThe profitability switching feature allows you to automatically switch to the most profitable coin at any given time\n \u003c/ul\u003e\n NiceHash also offers a range of tools to help miners optimize their earnings. These include a \u003ca href=\"https://www.nicehash.com/profitability-calculator\"\u003eprofitability calculator\u003c/a\u003e, a mining pool explorer, and a \u003ca href=https://www.nicehash.com/blog/post/how-to-build-a-mining-rig-in-2021-part-1\"\u003emining rig builder\u003c/a\u003e.\n \u003c/p\u003e\n \u003ch2\u003eWhat are the pros and cons of NiceHash?\u003c/h2\u003e\n \u003cp\u003e\n \u003cstrong\u003eNiceHash Pros\u003c/strong\u003e\n \u003cul\u003e\n \u003cli\u003eSimple and easy to use\u003c/li\u003e\n \u003cli\u003eNo restriction on the size of \u003ca href=\"https://robinhood.com/us/en/support/articles/cryptocurrency-hashrate/\"\u003ehashrate\u003c/a\u003e acquired\u003c/li\u003e\n \u003cli\u003eHelps miners smoothly switch between different hashing algorithms\u003c/li\u003e\n \u003cli\u003eAllows internal exchange of funds between multiple wallets\u003c/li\u003e\n \u003cli\u003eAbility to cancel orders for NiceHash power\u003c/li\u003e\n \u003cli\u003eNiceHash wallets to store cryptocurrencies\u003c/li\u003e\n \u003cli\u003e\u003ca href=\"https://www.nicehash.com/support/general-help/nicehash-service/referral-programs\"\u003eReferral or affiliate program\u003c/a\u003e\u003c/li\u003e\n \u003cli\u003eUsers can earn passive income in Bitcoin\u003c/li\u003e\n \u003cli\u003eLow fees\u003c/li\u003e\n \u003cli\u003eStable payments\u003c/li\u003e\n \u003cli\u003ePart of the crypto industry for more than six years\u003c/li\u003e\n \u003c/ul\u003e\n \u003c/p\u003e\n \u003cp\u003e\n \u003cstrong\u003eNiceHash Cons\u003c/strong\u003e\n \u003cul\u003e\n \u003cli\u003eLess profitable than a mining pool\u003c/li\u003e\n \u003cli\u003eSupports only BTC payment methods\u003c/li\u003e\n \u003cli\u003eNot suitable for long-term investments\u003c/li\u003e\n \u003cli\u003eSwitching between NiceHash algorithms exhausts GPU cards\u003c/li\u003e\n \u003c/ul\u003e\n \u003c/p\u003e\n \u003ch2\u003eHow are NiceHash transactions taxed?\u003c/h2\u003e\n \u003cp\u003e\n Most countries around the world consider cryptocurrency as an asset.\n Cryptocurrency trades are considered taxable events. So if you\u0027re making crypto trades, you\u0027re liable for \u003ca href=\"https://www.cointracker.io/blog/crypto-tax-guide\"\u003ecrypto taxes\u003c/a\u003e.\n If you\u0027re a NiceHash user, your taxes fall into two categories:\n \u003cp\u003e\n \u003cstrong\u003eTaxes for mining\u003c/strong\u003e\n \u003cul\u003e\n \u003cli\u003eYou\u0027ll pay \u003cstrong\u003eincome tax on mining rewards\u003c/strong\u003e:\n \u003cul\u003e\n \u003cli\u003eBased on the fair market value of your mined coins when you receive them\u003c/li\u003e\n \u003cli\u003eAt a rate dependent on your income tax bracket\u003c/li\u003e\n \u003c/ul\u003e\n \u003c/li\u003e\n \u003c/ul\u003e\n \u003c/p\u003e\n \u003cp\u003e\n \u003cstrong\u003eTaxes for trading\u003c/strong\u003e\n \u003cul\u003e\n \u003cli\u003eYou\u0027ll pay \u003cstrong\u003ecapital gains tax on your profit\u003c/strong\u003e when you:\n \u003cul\u003e\n \u003cli\u003eSell your mining rewards\u003c/li\u003e\n \u003cli\u003eTrade cryptocurrency for another cryptocurrency or fiat\u003c/li\u003e\n \u003cli\u003eTrade cryptocurrency for goods and services\u003c/li\u003e\n \u003c/ul\u003e\n \u003c/li\u003e\n \u003c/ul\u003e\n \u003c/p\u003e\n \u003cstrong\u003eNote\u003c/strong\u003e: Mining tax rates and benefits vary depending on whether you\u0027re a \u003ca href=\"https://www.cointracker.io/blog/how-is-cryptocurrency-mining-taxed\"\u003ehobbyist or business miner\u003c/a\u003e.\n \u003cbr\u003e\n \u003c/br\u003e\n \u003cstrong\u003eIf you\u0027re a business miner\u003c/strong\u003e:\n \u003cul\u003e\n \u003cli\u003eYou can deduct your expenses \u2014 like the costs of electricity, hardware, and rented space \u2014 from your taxes\u003c/li\u003e\n \u003cli\u003eYou\u0027ll be subject to an additional 15.3% self-employment tax\u003c/li\u003e\n \u003c/ul\u003e\n \u003cstrong\u003eIf you\u0027re a hobbyist miner\u003c/strong\u003e:\n \u003cul\u003e\n \u003cli\u003eYou\u0027ll be taxed on any profits without tax benefits\u003c/li\u003e\n \u003c/ul\u003e\n \u003c/p\u003e\n \u003ch2\u003eWhat forms does NiceHash provide?\u003c/h2\u003e\n \u003cp\u003e\n While NiceHash lets you download your transaction history, it doesn\u0027t provide any tax forms, income tax reports, financial statements, or end-of-year statements.\n However, trading on NiceHash is taxable, and it is your responsibility to report your taxes to the relevant tax authorities accurately.\n You can get your transaction history from NiceHash by:\n \u003cul\u003e\n \u003cli\u003eManually exporting it as a CSV file\u003c/li\u003e\n \u003cli\u003eConnecting to any crypto tax software like CoinTracker via API\u003c/li\u003e\n \u003c/ul\u003e\n At present, Nicehash doesn\u0027t report to the IRS, but the IRS and other tax authorities can still track your cryptocurrency transactions. Therefore, you should file your taxes on time to avoid any penalties.\n \u003c/p\u003e\n \u003ch2\u003eHow does CoinTracker work with NiceHash?\u003c/h2\u003e\n \u003cp\u003e\n CoinTracker automatically syncs with NiceHash\u0027s API. Connect your account to see your historical transactions and balances.\n \u003cdiv class=\"col-xl-8 col-centered pt-3\"\u003e\n \u003ch2 class=\"h4 mb-4\"\u003e\n Connecting your NiceHash account to CoinTracker\n \u003c/h2\u003e\n \u003col class=\"mb-5\"\u003e\n \u003cli\u003eOpen the Nicehash and \u003cstrong\u003e\u003ca href=\"https://www.nicehash.com/my/settings/keys\" target=\"_blank\" rel=\"noopener noreferrer\"\u003enavigate to Settings and API Keys\u003csvg class=\"svg-inline--fa fa-external-link-alt fa-w-18 ml-1\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"external-link-alt\" role=\"img\" xmlns=\"http://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M576 24v127.984c0 21.461-25.96 31.98-40.971 16.971l-35.707-35.709-243.523 243.523c-9.373 9.373-24.568 9.373-33.941 0l-22.627-22.627c-9.373-9.373-9.373-24.569 0-33.941L442.756 76.676l-35.703-35.705C391.982 25.9 402.656 0 424.024 0H552c13.255 0 24 10.745 24 24zM407.029 270.794l-16 16A23.999 23.999 0 0 0 384 303.765V448H64V128h264a24.003 24.003 0 0 0 16.97-7.029l16-16C376.089 89.851 365.381 64 344 64H48C21.49 64 0 85.49 0 112v352c0 26.51 21.49 48 48 48h352c26.51 0 48-21.49 48-48V287.764c0-21.382-25.852-32.09-40.971-16.97z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003ci class=\"fas fa-external-link-alt ml-1\" aria-hidden=\"true\"\u003e\u003c/i\u003e --\u003e\u003c/a\u003e\u003c/strong\u003e page\u003c/li\u003e\n \u003cli\u003eClick \u003cstrong\u003eCreate New API Key\u003c/strong\u003e button\u003c/li\u003e\n \u003cli\u003eEnter the name of the key\u003c/li\u003e\n \u003cli\u003eSelect only \u003cstrong\u003eview/read\u003c/strong\u003e permissions\u003c/li\u003e\n \u003cli\u003eClick \u003cstrong\u003eGenerate Key\u003c/strong\u003e\u003c/li\u003e\n \u003cli\u003eConfirm the new API key from the \u003cstrong\u003everification email\u003c/strong\u003e you receive from Nicehash\u003c/li\u003e\n \u003cli\u003eCopy the \u003cstrong\u003eAPI Key\u003c/strong\u003e and \u003cstrong\u003eAPI Key Secret\u003c/strong\u003e\u003c/li\u003e\n \u003cli\u003eCopy the \u003cstrong\u003eOrganization ID\u003c/strong\u003e on the API keys page\u003c/li\u003e\n \u003c/ol\u003e\n \u003cdiv class=\"mt-4 mb-3\"\u003e\n \u003ca class=\"btn btn-primary px-5\" href=\"/add_wallet?t=nicehash\"\u003eAdd NiceHash Account\u003c/a\u003e\n \u003c/div\u003e\n \u003c/p\u003e\n ", "form_id": "customer-id", "image_url": "https://s3-us-west-1.amazonaws.com/coin-tracker-public/static/images/exchanges/nicehash.png?v=6", "info": {"faqs": [{"answer": "Hash power\" (or \"hashing power\") is the power your computer uses to solve different hashing algorithms. These algorithms are used to generate new cryptocurrencies and allow transactions between cryptocurrencies. This process of generating new cryptocurrencies is called mining. When mining on NiceHash, you\u0027re selling your hash power to buyers who want to mine cryptocurrency but don\u0027t have the mining equipment. Buyers will pay \"rent\" in Bitcoin to use your hash power.", "question": "What is hash power, and why would anyone buy it?"}, {"answer": "NiceHash Miner is free software that connects your PC or mining rig to the NiceHash hash-power marketplace. It allows you to rent your hash power for Bitcoin. NiceHash Quick Miner is a similar software but has two versions. The tryout version lets new users try mining without registration, while the experienced version is meant for more familiar users.", "question": "What is the difference between NiceHash Miner and NiceHash Quick Miner?"}, {"answer": "PPS stands for \"pay-per-share.\" This means the miner is paid for each valid contributed share. PPS ensures that providers are paid in full for all the high-quality work produced by their rigs. Buyers will only pay 100%% for work submitted to buyers\u0027 pools.", "question": "What Is the PPS Reward System?"}, {"answer": "The amount you earn depends on the amount of hash power you provide to NiceHash. All your earnings will be paid in Bitcoin. Check the \u003ca href=\u0027https://www.nicehash.com/profitability-calculator\u0027\u003eProfitability Calculator\u003c/a\u003e to determine how much your hardware can earn in a day/month.", "question": "How much can you earn in NiceHash?"}, {"answer": "NiceHash supports almost all CPU and GPU cards and a majority of ASIC miners, but the Profitability Calculator doesn\u0027t contain all mining-supported hardware. To find out if your hardware works well for selling hash power with NiceHash, download the NiceHash Miner and run the benchmark.", "question": "What if my hardware is not listed in the Profitability Calculator?"}, {"answer": "NiceHash has an \u003ca href=\u0027https://www.nicehash.com/mining-affiliate\u0027\u003eaffiliate program\u003c/a\u003e that allows its users to earn passive income. Users get paid in Bitcoin when they bring new users to the NiceHash platform.", "question": "What is NiceHash\u0027s referral program?"}], "hide_instructions": true}, "instructions": "\u003col class=\"mb-5\"\u003e\n \u003cli\u003eOpen the Nicehash and \u003cstrong\u003e\u003ca href=\"https://www.nicehash.com/my/settings/keys\" target=\"_blank\" rel=\"noopener noreferrer\"\u003enavigate to Settings and API Keys\u003ci class=\"fas fa-external-link-alt ml-1\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/a\u003e\u003c/strong\u003e page\u003c/li\u003e\n \u003cli\u003eClick \u003cstrong\u003eCreate New API Key\u003c/strong\u003e button\u003c/li\u003e\n \u003cli\u003eEnter the name of the key\u003c/li\u003e\n \u003cli\u003eSelect only \u003cstrong\u003eview/read\u003c/strong\u003e permissions\u003c/li\u003e\n \u003cli\u003eClick \u003cstrong\u003eGenerate Key\u003c/strong\u003e\u003c/li\u003e\n \u003cli\u003eConfirm the new API key from the \u003cstrong\u003everification email\u003c/strong\u003e you receive from Nicehash\u003c/li\u003e\n \u003cli\u003eCopy the \u003cstrong\u003eAPI Key\u003c/strong\u003e and \u003cstrong\u003eAPI Key Secret\u003c/strong\u003e\u003c/li\u003e\n \u003cli\u003eCopy the \u003cstrong\u003eOrganization ID\u003c/strong\u003e on the API keys page\u003c/li\u003e\n\u003c/ol\u003e\n", "is_disabled": false, "name": "NiceHash", "rank": -48, "slug": "nicehash", "supports_hd_wallet": null, "sync_method": "Automatic sync", "website_url": "https://www.nicehash.com"}}