Betterhash is one of the best mining platforms for beginners. It was originally created to serve the purpose of a mining tool that other available platforms can’t provide. In this article, you will learn about this platform, its features, how much it will cost you, what your profitability will be, and most importantly, what the users think about it.
BetterHash: Basic Information
In simple words, BetterHash is a mining software. The company behind making this software is Innovation Solutions. The company has been in the IT business since 2003. Innovation Solutions is one of the best in driver management software and Windows software development.
BetterHash’s headquarter is in Bucharest, Romania. According to the company website, the platform is easy to use, and miners can get the maximum profit. One of the best things about this platform is that it automatically updates in real-time. And you don’t have to worry about your personal information, the platform is safe and secure.
BetterHash: Guide To Mine
The process is easy to follow. Read the step-by-step guide to use the platform.
- First, go to web search and type betterhash.net.
- You need to register there with your email address.
- After that, you will find the download option. Click on it to download the installation file.
- Open the file and install the application, and then open it. There will be a BetterHash restart needed complete the installation.
- There you will find the benchmark option, you just need to select between CPU and GPU settings.
- After that, you will find different options like General, Miners, Profit switching, Advances, Payment, and Scheduler. You can choose what will best suit you.
You can monitor your monthly or daily income by currency. The profit will be in either BTC or USD. Your profile will be secured with a 2FA code, and it is quite secure. There is an option called Profit Switching that allows you to select the best profit algorithm available for your machine.
Different mining platforms have different features. Here we will not talk about the same features that other platforms have. In this article, we will discuss the distinctive features that will make you use this platform.
Easy To Use
People use products that are easy to use. And BetterHash is best when it comes to using its interface. The website looks simple, and you can navigate different things easily. Also, you will find all information on its website. For beginners, this platform is one of the best to use.
Switching Between GPU and CPU
After opening the application, you will find all the options in the dashboard. There you can select between GPU and CPU mining. In this section, you can also select which cryptocurrency you want to mine. But you should know that whatever cryptocurrency you will mind, you will get the payment in the same cryptocurrency.
Before using the platform, you will find an option called “Hardware profitability.” You can select your hardware, and the profitability calculator will tell you how much you can make with this platform. You don’t need to download and install the application to know the profitability. You can check it before, and then you can decide between different hardware.
When you open the website, you will find an option called “Transactions.” There you can find the latest transactions that users made. The latest transactions will tell you the timing, the amount transferred, and which currency they transact. This tells you how transparent this platform is and how easy payments are on this application.
There are other mining platforms that allow you to mine only Bitcoin, and some allow you to mine Ethereum too. But, BetterHash has so many different cryptocurrencies to mine that you will get different options. The options that you will get on this application are as follows.
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Gold (BTG)
- Ethereum Classic (ETC)
- Monero (XMR)
- Grin Coin (GRIN)
- RavenCoin (RVN)
- Zcoin (XZC)
- Zcash (ZEC)
Also, you can change between different cryptocurrencies at any time, but you will get paid in the same crypto you have mined.
After researching many reviews and getting information from the testers, this platform certainly doesn’t use so much energy. So, how much you will get at the end of the month is not important.
If your energy cost is low, then you will make a decent profit with any hardware. And if you invest in your GPU, this platform will give you the best profit you can get.
One of the best features of this platform is that there are no mining fees. Yes, BetterHash has no mining fees. It doesn’t matter which cryptocurrency you are mining, you don’t need to pay a single penny.
But there are withdrawal fees you need to pay when you are withdrawing. But the fees are not much. Also, there is a 1% commission when you will participate in a mining pool. You can check the withdrawal fees on the official website.
There are a few reasons why I have included this point. First of all, most of the jobs will be done by the software itself. Also, the application will control most of the work, so you don’t need to do many things. Different wallets will be created for different cryptocurrencies. And the platform is quite safe and secure.
When you open the official website, you will find an area where you can send emails. You can ask any queries or questions, and within a few hours, you will get your answer. Any issues will be resolved quickly, so if a problem occurs, don’t worry. Customer support is excellent on this platform.
BetterHash: Receiving Money And Balance
You need to link your crypto wallet with the application. If you use two different machines, then you better log in to your account simultaneously. Then, you can store your coins in one wallet. This application has a feature to use multiple computers at the same time.
Your profit will be reflected in your wallet. But you need atleast some specific configurations in your PC to use this feature. And, with a better configuration, you can make a lot of money. But, the profitability is low compared to other platforms. Withdrawing cryptocurrency is so easy and fast on this platform.
Is it safe to use BetterHash?
If we have to consider the safety features of ButterHash, it is needless to say that this particular mining software is designed in a way that keeps the users secure. Even though there have been certain complaints and accusations that it is a scam, it has still proven itself trustworthy, and there are reasons to believe it.
For instance, when users use ButterHash for mining, the software gets full control of their coins until they are withdrawn and put into another wallet. Because of this, the users never have to worry about taking care of their private keys. But this is something controversial. There are people who like to take care of their funds themselves, and not hand them over to custodial services.
For those, ButterHash has come up with a two-factor authentication system (2fa) that provides an extra layer of protection as it generates OTPs that go directly to the owner’s device.
Additionally, there are reports that claim that ButterHash has been marked as malicious and potentially dangerous by antivirus programs. This is because this mining software is updating itself continuously to protect users from potential virus attacks and malware. So if you have plans to install the program, make sure that you do not have the antivirus active.
What Are The Cryptos That Can Be Mined With ButterHash?
There are a lot of cryptocurrencies that this platform allows the user to mine, like Bitcoin Gold (BTG), Bitcoin (BTC), Grin Coin (GRIN), Ethereum (ETH), Ethereum Classic (ETC), RavenCoin (RVN), Monero (XMR), Zcoin (XZC), Zcash (ZEC).
For users who want to mine Bitcoin, it is important to note that because of this advanced algorithm, the computer configurations have to be higher than any regular computer we use at home for personal use. BetterHash advices individuals to focus on altcoins and later exchange them for Bitcoin.
Here, I have given some user reviews that will help you to understand the platform more.
Here are some positive reviews.
“They seem legit. I was running with etherium.org (also a great site), but have now been running 3 machines under BetterHash off\on for 1 1/2 months now. There appears to be some issues with their auto switcher with the 30 series LHR nvidia cards – I had to turn off auto switching and force to ravencoin. It would be nice if they offered additional miner programs – albeit with royalty caveats & I’m hoping they’ll work out the LHR issues, but overall I give them high marks,” from trustpilot.com.
“BetterHash is a very good mining software. It was a little quirky at first with one of my rigs, but after some tweaking, it was working well. I found NH to be a bit more profitable and easier to use and chart, but BetterHash is definitely my backup if NiceHash has issues,” from trustpilot.com.
“I use betterhash.net app for mining and it is legit. Also, i use a 3070 card and its mining speed is almost 52 MH/s [ETH – Ethash (Phoenix)]. I am mining since March 1st this year. Till yesterday – May 15th (after 2 months and a half) I mined 0.006 bitcoins (after automatic exchanges of ETH). I used automatic BTC transfer (first after 0.001, second after 0.005 BTC) to my private infinity wallet and then directly to LDVBank.com wallet, when I found out that for each transfer I will pay around 10 euros.
The fee for exchanging BTC to euros is 0 at LDVBank.com and for transfering to a Revolut euros account is 2 euros flat. So in total I pay fees of 0.0002 BTC flat and 2 euros for my mining plus energy cost which, in my case, is pretty low, around 0.15 euros/kW (around 20 euros/month, I guess, for 200 W/hour power consumption). Finally, after taxes, which are 10%, my monthly profit is a sum of 75 euros (today). My monthly mined BTC (after exchanging ETH) is around 0.003, so profit may vary depending of the BTC price. But I prefer to withdraw BTC from betterhash.com once to almost 2 months, when I have 0.005 BTC. You can choose to withdraw even more rarely, 0.01 or 0.1, to maximize your profit. Good luck to all!” from trustpilot.com.
Here are some Negative Reviews.
“I used to like betterhash but can’t get any responses from them. If you run into any problems. Your on your own. I tried to deactivate my Google authentication and the sight said to check my email to complete but they never sent it. No in spam folder, nowhere. Guess you gotta switch to something else—bummer,” from cryptogeek.info.
“Somehow I have a BTC address attached to my BetterHash account without having 2FA enabled. I can’t disable auto withdrawal without enabling 2FA. When I try to enable 2FA it errors out with Unable to send email. I think it’s a scam.” from cryptogeek.info.
“They don’t support LHR-unlocking miners, which is a great minus at a time when most new Nvidia cards are LHR. There are no possibilities to tweak the card directly from the app; gotta use the time-tested Afterburner.” from slashdot.org.
There is positive and negative BetterHash review, but the negative ones can not be why not use this platform. Many people want to know about BetterHash vs NiceHash, so I must say that compared to BetterHash, NiceHash is far better regarding profitability and many more thing. You can check out about NiceHash here.
If you have any queries, feel free to ask in the comment section below. Also, you can ask if there are any issues during mining.