Converting Bitcoin to Ravencoin Using NiceHash Market: My Experience

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Converting Bitcoin to Ravencoin Using NiceHash Market: My Experience

I live in the US so directly exchanging other cyrpto into Ravencoin can be a bit of a hassle. Looking around at my options I decided to try out buying hash power on the NiceHash marketplace. Overall it was a very easy experience and I figured it would be worth sharing.

I started with .00436 Btc and set my price to 2.7 BTC with a .1 TH/s limit. Nicehash took .0001405 Btc in fees to process the order. I pointed the hashing power to 2miners pool us-rvn.2miners.com:6161 entered my wallet address as the username and x as the password. It took a couple hours to complete the order as most of the time I was being outbid and not mining but eventually when it hit my price point it took about 30 minutes to go through my order. I ended up with roughly 2,185 Ravencoin when when the order was finished. All told between the Nicehash fee and the difference in mining I would guess I lost roughly 200 Ravencoin or $14 to convert the Btc to Ravencoin in this manner.

I am interested in trying solo mining next time to see if that turns out better and adjusting my price point in the marketplace. Based on how the process worked for pool mining I am thinking I would need to spend about 10X what I did this last time to make solo work. I plan to try this again and see what type of results I get. Overall, I was pleasantly surprised by how easy the process was and how well everything went. Has anyone else done this? How was you experience?

submitted by /u/nontechit
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