Review on NiceHash by Daniel Bamidele
Nicehash
Hello everyone, today I will be talking on one of the best platform yet to come, today I will be given a brief history and some of the benefits of this platform. Nicehash is said to be an integrated marketplace that connects sellers of hashing power(miners) with buyers of hashing power using the sharing economy approach, the company was founded by Marko kobal in 2014. This project is an amazing tool for people who are new to cryptocurrency minning. It's also provides software that makes it easy for miners to get started, also the most profitable way to mine cause the buyers are constantly fighting for the hashrate that sellers provide on the marketplace and rapidly developed into a well known brand among cryptocurrency
Nicehash also serves as a backbone network and it plays an important role in the cryptocurrency ecosystem by indirectly providing new coin creation and transaction validation on several different blockchain. To provide it's services across the globe, the exchange makes available of different languages on its website. The languages are Chinese, English, Spanish, German, French, Russian, and Portuguese. A major concern for many individuals investors, miners, and exchange platform is the issue of security. Fraudulent activities such as identity theft, money laundering, terrorist funding and cyber-attacks have become a menance in the crypto industry
As a result the need to become more security conscious and trade a strong backing is needed, and that's why nicehash is one of the best platform that's recommended for user's. In all nicehash exchange lists about 50 digital coins on it's trading platform and has more than 66 trading pairs that it's client can trade and exchange for profits. Nicehash has evolved over the years but most especially in 2017, when the exchange experienced some fallback prompting it to change it's business model from being narrowly focused to expanding it's functionalities by upgrading it's website interface and customizing selling and buying is quite easy. Any individual can sell their hashing power even if it is just a small gaming machine, also individuals interested and ready to make the best out of minning can buy hashing power without having to spend huge amount of capital to acquire minning hardware
Conclusion, the nicehash exchange is generally referred to as hashing power. In layman's terms, it's an exchange services that facilities the exchange of computing power for bitcoin, some individuals look to mine cryptocurriencies to gather sell for profits, some look to buy and hodl while others look to trade and take advantages of the volatility in market price to earn huge returns. To then be able to carry out these activities, the need for crypto exchange such as nicehash becomes important
Pros
- User-friendly
- Security rate is high
- Effective and reliable
- Quick sign-up
Cons
- Not a reputable exchange
- Lack of potential
