NiceHash targets Asian market through EasyMining platform launch
NiceHash, a Slovenian bitcoin mining and hashpower marketplace, has launched its crypto mining platform in Asia, known as EasyMining.
Cloud-based crypto mining
Established in 2014 by two Slovenian university students, NiceHash stands as the largest cloud-based crypto-mining hashpower marketplace globally. Boasting over 250,000 daily active miners and a user base spanning 190 countries, the platform serves as a link between hashing power suppliers and consumers, operating within the framework of the sharing economy.
NiceHash published a press release from Singapore on Tuesday to announce the Asian product launch. The company has already established collaborations in the region, with Singaporean mining equipment designer iPollo appearing as a featured partner on the firm’s website.
Product offering
At the core of NiceHash’s offerings is the facilitation of crypto trading and global hashpower. It claims to provide an innovative and seamless connection between miners and hashpower providers. Whether it’s mining with CPU, GPU or ASIC equipment, platform users can engage in the process to earn cryptocurrencies or sell surplus computing power, presenting an opportunity for profit without the need for an extensive data center.
NiceHash employs various security measures to ensure the validity and safety of transactions. These include SSL encryption, 2-factor authentication and email notifications, enhancing the security of accounts and payments. The cost of NiceHash mining is set at 0.001 BTC, offering a range of 34 mining algorithms and supporting various coins to cater to the interests of a broad user base.
The firm offers a QuickMiner service, an automatic mining program that simplifies the mining process for subscribers. Through the use of this application, miners and hashpower renters can kick-start their operations immediately.
Miners and providers have the ability to trade hashpower on the platform, with dynamic pricing adjusting every 10 seconds based on cryptocurrency values, hashpower availability and miner demand.
For hashpower sellers, NiceHash offers the Profitability Calculator, a tool that enables users to calculate daily mining earnings by inputting their mining rig specifications and power costs. The platform supports CPU, GPU and ASIC mining, allowing miners to focus on the most profitable algorithm and token pairings.
EasyMining, the latest addition to NiceHash’s repertoire and the product it is now offering in the Asian region, represents a significant step forward for the firm in simplifying cryptocurrency mining. The company claims that users can select their preferred cryptocurrency, letting the platform handle the mining process securely and effortlessly.
Changing market conditions
Crypto platforms have had to be agile in 2023, as the underlying environment for crypto-centric offerings has been subject to rapid change in many jurisdictions. While NiceHash is making a concerted effort to etch out a market share within the Asian market through this product launch, it’s also had to withdraw its services from another market in recent months.
On Sept. 27, the company informed its customers that it was withdrawing from the UK market. In a letter to users, it stated:
”Due to the recent regulation changes in the United Kingdom we are no longer able to provide services to those residing in the United Kingdom.” . . . “We are working hard to be able to resume our services to UK residents as soon as possible.”
The company withdrew all services from the UK market, including the exchange, mining, hashpower marketplace and wallets.
