How to create an order in NiceHash?

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How to use NiceHash with MinerGate

MinerGate Educational presents another “How To NiceHash” special.

Before reading this, please check our previous tutorial.

Once you have deposited Bitcoins to your NiceHash wallet and saved your MinerGate pool, you are ready to place your first order. A new order can be placed directly through the Live Marketplace. Note that a service fee is applied only to the spent amount. For each placed order, a non-refundable 0.0001 BTC is taken to prevent order spam.NiceHash Live Marketplace

First, you need to select the right algorithm to load the marketplace you want. Then, you need to decide which server you will place the order on – Europe or USA – and what type of order you will place. There are two types of order:Choose your order type

Standard Order

A Standard type of order will allow you to bid for a price as low as possible. However, if someone outbids your order, your order might be paused and you may have to increase the price to sustain the speed. That said, you have to monitor your standard type orders to ensure you maintain the desired speed.

If you have chosen a standard order, the following image will appear.Standard order

  1. Select a pool.
  2. Set the price. NiceHash suggests the minimum possible price to get miners. You can change it, but note that you might not get miners assigned if the order price is too low. Keep in mind this is not the total price you will pay for the order – the price you will pay is called “Amount”.
  3. Set the limit. NiceHash suggests the minimum possible limit. If you don’t want to limit the order, enter “0” in this field.
  4. Finally, set the amount that you are willing to pay for the order. This is the maximum amount you will spend on the order. If there are no miners, you are not paying for the order. If you cancel the order, the unspent amount is returned to you.
  5. Whenever you enter any of these three values – price, limit, and amount – the estimated duration of the order is calculated and shown at the bottom.

After you have successfully set all of these values, you have to read and agree with the terms. If you have set up the 2FA (we suggest you do), you need to enter the 2FA code as well, and then you are ready to place a new order. Placing a standard order, you can always change the value of the price and limit during the order itself. You can also refill the order to ensure it lasts longer. The order cannot last more than 10 days.

You will be able to find all of your opened orders in the order list. The order can also be seen in the marketplace.The order list

Fixed Order

A Fixed order will allow you to place an order with a fixed price and will guarantee you the desired hashing speed through the lifetime of the order, even if there are other bidding orders with higher price submitted later on. You will have to pay a slightly higher price in relation to the current fixed orders demand.

If you have chosen a fixed order, the following image will appear.Fixed order

  1. Select a pool.
  2. For fixed orders, NiceHash suggests the price.
  3. Set the limit. NiceHash suggests the minimum possible limit, but you can set any value between the lower and upper bounds.
  4. Finally, set the amount that you are willing to pay for the order. This is the maximum amount you will spend on the order.

Whenever you enter any of these two values – limit and amount – the estimated duration of the order are calculated and shown at the bottom.

After you have successfully set all of these values, you have to read and agree with the terms. If you have set up the 2FA (we suggest you do), enter the 2FA code as well and then you are ready to place a new order. Placing a fixed order, you cannot change the value of price and limit during the order itself. You can refill the order to ensure that it lasts longer but the maximum duration of the order is 24 hours.

You will be able to find all of your opened orders in the order list. The order can also be seen in the marketplace.Fixed orders list

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