NiceHash Unveils Game-Changing Features: Profit Splitting and Auto Withdrawals to Transform Your Mining Experience
user experience by automating complex tasks associated with cryptocurrency mining. For miners, this is a big step forward, making the management of mining proceeds effortless and more flexible.
Profit Splitting allows miners to automatically divide their earnings among multiple addresses. This can be done either within a single organization or between different Bitcoin wallets. Consequently, this feature eliminates the need for manual revenue distribution. It is a boon for those who mine collaboratively or have various payout destinations.
Users can navigate to the Rig Manager and then the Payout Settings to enable this feature. Here, they can add up to 100 different addresses for the split payments. Moreover, users can specify the percentage of earnings each address should receive. The minimum percentage for a split is 1%, but it’s possible to allocate 100% to a single address for automated withdrawals.
Auto Withdrawals is another significant aspect of this release. By setting 100% of the split to an external address, users can automate withdrawals directly to their preferred Bitcoin wallet. This feature is particularly useful for those who prefer to move their earnings to cold storage for added security.
Notably, adding more Split Payment Addresses affects the minimum payout threshold. The address with the lowest split percentage will determine the minimum amount required for a payout to occur, which stands at 0.0005 BTC.
On the fee front, NiceHash will not charge for withdrawals to another NiceHash organization. For withdrawals to external Bitcoin addresses, standard fees will apply. Service charges are deducted before the payout split, meaning all participating addresses share the cost equally.
The Profit Splitting feature is exclusive to Bitcoin, not supporting other cryptocurrencies like ETC or Doge. Also, only users with NiceHash accounts can take advantage of these new functionalities.
In summary, NiceHash’s new features streamline the earning and withdrawal process, thereby simplifying the mining landscape. They offer greater control and flexibility, which is likely to attract more users to their platform.
