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If you are thinking about starting a BTC Account at Coinbase


jcollison
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Hey @jcollison I wanted to switch my wallet from NiceHash to Coinbase.  So instead of transferring manually it would just land at CB right?

I created a few wallet keys and put it into the Wallet section in NH.  Is that it? I don't know where to find that it's showing up over in CB.  Does NH Miner take a cut?  

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If you use the Nicehash wallet they transfer the coins into your wallet each time you reach 0.001 BTC.  If you use an external wallet (like Coinbase) they transfer into your wallet every day you reach 0.1 BTC or once a week when you reach 0.01 BTC.  If you start mining into a wallet and on Nicehash and stop before you reach the payout amount then the coins are just stuck there in limbo.  You need to time switching wallets right after a payout occurs.

 

Here is the info on payouts to Nicehash wallet and external wallets. https://www.nicehash.com/help/when-and-how-do-you-get-paid

 

Here is the info on fees.  https://www.nicehash.com/help/fees#sellerFee

It looks like you are paying fees if you are transferring from Nicehash wallet to Coinbase.  

I think you also pay 2% for selling hashing power using a NIcehash wallet and 3% or 4% when using an external wallet.  The key here is if you transfer from Nicehash wallet to Coinbase then you have the additional fee for the withdrawl.

 

Someone correct me if this info is wrong but that is what I think I have figured out.

 

 

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Good stuff Chris.  Thanks for digging that up.  How are you doing yours?  I just want my BTC somewhere where I can spend it and also to pay the least fees!

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I would keep my BTC in the Nicehash wallet until I want to spend it.  Then move it to Coinbase.  The less you move it, the less fees you pay.  Move small amounts and you pay more fees.  

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