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If you are thinking about starting a BTC Account at Coinbase


jcollison
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I may miss out on the fork.  I am using Coinbase for my mining wallet which means Nicehash won't payout until I reach 0.01 BTC.  That is predicted to be in December.  Looks like there is no way to get the payout earlier either.  If I switch to a Nicehash wallet (pays out at 0.001 BTC) then the earned BTC in the Coinbase wallet is just stuck there.

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I have the account and it wants bank account information. I have 2factor setup and account setup is all that is left.  Am I supposed to do this?

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You don't have to set up bank info to move BTC from Nicehash to Coinbase.  You will need to set it up if you want to get it out.  I think Paypal will work too

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Ok. Thanks for answering all my Noob questions.  I just transferred all my BTC from Nicehash wallet to a coinbase wallet.  My next payout on nicehash might not make it to coinbase in time so I'm just doing it now.  Now I'll sit back and keep on mining!

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Interesting security on the transfer too.  I requested the transfer using a newly generated BTC address from BTC. Copied that to a text editor for verification later.  There are some viruses in the wild that look for BTC wallets getting copied into clipboard then the bad guy replaces it with bad guys address.  It's a long string of characters so most wouldn't notice the swap.  Copy your address to a text editor and verify it!

 

Put that BTC address in the Nicehash withdraw to initiate the transfer.  It then asks you to check your email for verification.  I'm thinking one of those simple click here kind of things but it used 2 factor in the verification as well.  That was pretty cool.  I'm using Google Authenticator as my 2 Factor so I generated a code, typed it in as well as the code they sent via email.  Not a big deal really but I thought it was kind of cool.

12 minutes ago, Trig0r said:

Just stick your coinbase wallet ID into the Nicehash miner, that's all I did, well, my Wex ID but same theory..

 

I guess I need to do that.  That leads me to question the transfer rate.  Is it the same?  Mining to coinbase wallet vs. mining to nicehash wallet and transferring.  

 

Now I need to figure out how to use all my riches!!!

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I prefer to let my stacks of BTC build up in the Nicehash Wallet and I move them to Coinbase when I want to.  In the future, there might be other destinations like Poloniex or Bettrex that I might want to use.  Keeps the fees down that way too.

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tbh I've not even looked into what the nicehash fee's are, I guess if I set my self up on there and then mine to that wallet ID and then cash out when its a larger amount I'll be saving a bit, is there a set fee or is it a % of what you have in the wallet?

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