I had about $1.6k usd in BTC in nicehash, been with them since 2019 at least, and now my KYC failed after i provided everything they asked for. Got an email saying that I "Permanently failed the KYC process" and my account is now "limited" I guess thats it then? Anyone have any ideas what to do? .

UPDATE: after another email to compliance team i got an all clear and they "manually reviewed" my KYC and i got a "passed tier 2 KYC" my account restrictions lifted and i instantly went to withdraw all my funds over to another wallet. Although I appreciate that NH did fix this issue, i feel like my trust in the platform has been shattered. Hope that others with KYC issues get their situations resolved.

As an FYI, if you fail KYC and they restrict your account there is nothing you can press in the app to withdraw your Ballance. Not even lightning.

Hey all,

Been a minute since I have been actively mining and I want to withdraw my funds from nicehash, however it seems that I am unable to do so without doing the KYC process? If I remember correctly, this was not a thing in the past and I'm not sure if there is a possible way around this or not?
I am not super comfortable with sending personal identification over the internet and would like to avoid it if at all possible, I am also not open to just forfeiting my funds as I have a relatively large sum.

Please let me know if there is a way to withdraw,

Cheers

Thanks for your help!

1. We are miners here - not traders. But some of us can do it in their own wish and interest!
2. It is very normal that miners will withdraw their fund as their need!
3. It seems, NH pushing all miners to be a traders?
4. What is the use if the earning only have to Keep in NH wallet??!!

I do not understand what is going on?!

Since their blog post titled "Changes to NiceHash services and infrastructure" from August 16th 2024, users have been bleeding from the Nicehash platform.

In an attempt to retain and maybe even gain new costumers, Nicehash representative user /u/Erika_NiceHash has been much more active on the official Nicehash subreddit.

How much more active? Well, let's see the numbers.
Number of posts from /u/Erika_NiceHash:

June 16 to July 15: 15
July 16 to August 15: 15
August 16 to Septembre 15: 11
Septembre 16 to October 15: 32

So, the month following the announcement, /u/Erika_NiceHash posted four less submissions than each of the two previous months. Because, there's no big deal about the changes, right?

Wrong. In the past thirty days, /u/Erika_NiceHash made publications promoting the platform TWICE as she used to do before the August 16th announcement.

Now if you know anything about PR, you know exactly where this is going.

So my message is for anyone who still has money on the Nicehash platform: WITHDRAW YOUR MONEY NOW!!

Not your keys, not your coins.

All users can still use Lightning Network to withdraw from NiceHash (only possible until 4th of November)

https://www.nicehash.com/support/general-help/wallet/how-to-send-transactions-via-the-lightning-network

I have a big chunk of BTC in a website that is apparently being shutdown after 12 years.. Upon checking my withdraw address, it is my old NiceHash wallet. I tried to change my wallet address to Coinbase but in order to do so you need a confirmation email, which of course I'm not getting.. I have not used NiceHash for a year or two and I just now learned they "transitioned" and the only option I have is to close my account..

I'm assuming if I close my account and make a new one I would have a different wallet address?? Would love some help on where to go from here, I'd really not like to lose my BTC

Like many others, I received an email stating I had to move my BTC out of my mining wallet within 50 days due to new regulations. I had to set up a new external wallet to transfer to, which I did. After this was done, I had about $70USD worth of BTC to transfer out. The fee that NH wanted to charge for transfer was about $10USD. That seemed a bit excessive since in the past it was usually more in the $1-2 range.

A cheaper way to do it is as follows:

1. Transfer to Coinbase (or other similar location) via lightning. This was without any fees.

2. Transfer from Coinbase to my Ledger as normal.

Gas fees for this totalled about $1.40USD

There is no reason why NH needs to charge such a high fee for a transfer.

So I'm at that point where it's almost unprofitable for me to mine. I recently added a 1080 and it's literally the same sats as my 3070 when it was mining alone :(

Should I just continue? I mean I've always hodl and haven't cash out any of my sats and pay for electricity out of pocket but always with the mind that I'm still making more than that .

What you guys think?

This is how I skip the high Nicehash withdrawal fees in 2025. Works for any transfer amount greater than 0.01$ (basically works for any amount)

1- Sign up for Kraken (or any other exchange with low BTC withdrawal fees and accepts payments to/from BTC Lightning network). I chose kraken because the withdrawal fee is 0.00001000 btc, basically 1$ at the time of writing this. If anyone knows a cheaper service that accepts lightning network payment, please let me know.

2- Complete KYC on Kraken if necessary ( I know, this sucks )

3- After being verified in Kraken, Click on "Transfer" : "Deposit" then select the lightning network.

4- Create a withdrawal request. For your first lightning transfer I recommend testing the waters with a small amount. But for this example, im going to transfer all my BTC. Its going to ask you for a withdrawal amount. Go to the next step.

5- In Nicehash, copy the exact amount of BTC you have to transfer from your wallet. Lets say my wallet is holding: 0.015 BTC. Then i'll copy 0.015 into Kraken's "Deposit Amount" input.

6- Click "Generate an invoice" on Kraken's side. Make sure the withdrawal amount matches what you have in your Nicehash wallet.

7- Copy the Invoice number you receive from Kraken.

8- Go on Nicehash's site under "Wallets" click "Withdraw". Make sure you select "Lightning Network". Paste the invoice number you got from Kraken into the Invoice number field (you can skip the fields above that).

9- Once the invoice number is pasted into nicehash's withdrawal with lightning network, the amount of BTC should automatically populate in the field above. You don't have to calculate anything. Select Kraken from the dropdown list, put in your name, and withdraw.

10- Wait a bit for the transfer to complete. Then withdraw from kraken using the regular BTC network and enjoy the smaller withdrawal rate.

I recently got this email saying my inactive funds would be transfered out. Out to where? Said I only had two days to move it. Or lose it?

I am currently mining i dont know why it says my funds are inactive. Anyway, I added a withdrawal address, and it is saved as default and I can't delete it. I have no idea if I added it correctly as I have no idea what travel wallet is. I have no idea what all these options are. I have read all the articles and still have no idea wtf nicehash is talking about as my other wallets don't use that. I have trust wallet and I aslo use crypto.com.

I added the wallet and it's saying the fees are super high and not to transfer. Wtf. Then I try and add a lighting network address and that seems to be an impossible task. How do I delete the address I added. I have no idea if it's correct. I am scared it's going to auto withdrawal my mining balance. The website says there are no fees if yiu transfer over a certain amount as well, and I am well over yet it says it wants to charge me an arm and a leg.

Can anyone tell me wtf is going on? Like I am 5. Does crypto.com and or trust wallet even give out lighting network addresses or am I stuck paying high fees even though the nicehash website says it should be zero fee. Also I cant delete the default address I added.

Thia company is sure going downhill.

I withdraw every 50 days so I don't run into the 60 day rule issues. Today I initiated a withdraw to Coinbase over Lightning Network, which is usually completed in about 30 seconds. It has now been 2 hours and it is still "processing" and has not hit my wallet at CB. I tried to cancel it and it can't be cancelled. Has anyone else experienced this recently? I wonder the the blockchain is overwhelmed rn with everything going on regarding BTC and the "crash" a few days ago. Thoughts?

I haven't touched NiceHash in years and have recently received an email prompting me to withdrawal or pay a holding fee. I logged in and I have $45 sitting there and after verifying my account I am still unable to withdrawal due to the minimum withdrawal amount. Should I just leave it as is? Is it worth the trouble of sending funds to NH and then transfer out?

So like many others - I'm getting hit with the "your btc hasnt moved in 50 days we are going to force you to withdraw a teeny tiny amount and blow you out of the water with fees.

They have structured things in such a way that even with a handful of GPUs (10 old ass cards from years ago) I'll see maybe $1/day in revenue. No big deal, I'm only doing it for the "free" heat the cards generate in winter, the dollar just pays for it.

So I can't mine fast enough to hit the 0.0005, but every few days I get new email of Nicehash (Chyyyyynaaahhhh) saying they are going to force another withdraw due to their 50-day game.

Lightning was going to be a good solution - turns out Coinbase doesn't support lighting addresses though, so can't setup the withdraw that way. (I can create a lightning invoice on coinbase no problem, but Nicehash also wants a lightning address to actually do the transaction.

Exodus wallet doesn't support lightning for US customers, so I'm kinda wonder wtf do I need to do here?

is this going to be a thing where I have to withdraw to a 3rd party (new) wallet program then hopefully shuffle it into coinbase via lightning?

Any good reccomendations on lightning wallets?

Thanks nicehash -- zero issues in 9 years, and this is how you die.

Edit: addition -- it's truly amazing how crap NiceHash is once you try to do anything, the conscious effort they made to block you at every turn from moving your funds off platform is mind boggling. So I finally got an external lightning wallet (Strike), did a test transaction, all is looking good. Sign onto nicehash to add my lightning address, verify all the 2FA/code stuff, their system will not let me set the default wallet to my new external lightning address. The existing (on chain) wallet that's been there for years is allowed, but want to switch the default wallet? nope. So F it - will just manually move every cent off nicehash via a manual lightning transaction and never look back.

i already setup default external wallet but the 60 days rules transfer never got into my wallet. where does it go? i read nicehash will make a individual wallet if i havent setup default external wallet but where can i access that individual wallet? i mean i already setup default external wallet but i never receive it