No matter how experienced you are as a crypto trader or even if you are just starting out, eventually, you’ll need to withdraw your funds from the Nicehash platform and secure them in a safe, non-custodial cryptocurrency wallet to keep them safe until you are ready to convert them to fiat currency.
In this how-to withdraw money from Nicehash guide, we’ll show you exactly how to withdraw crypto from your Nicehash account and transfer it to Zengo wallet, the safest and most secure wallet for crypto and NFTs.
Before starting the withdrawal process from Nicehash, ensure you have installed the Zengo wallet app. Zengo is a groundbreaking, Web3-ready, non-custodial wallet that leverages Multi-Party Computation (MPC) technology alongside a robust Web3 firewall to provide you with maximum security.
After setting up the Zengo app and completing the onboarding steps, follow these instructions to withdraw from Nicehash to Zengo:
Start by logging into your Nicehash account. Go to the “Wallet” section and click the “Withdraw” button.
Choose the type of crypto you wish to withdraw in the “Withdraw from” field. Please ensure that Zengo supports the asset you want to withdraw (if necessary, swap the asset for a more common token before withdrawing).
Enter your destination address for the withdrawal. This should be your Zengo wallet address. You can view your Zengo wallet address in the app by opening it, tapping on “Actions,” then clicking “Receive,” and choosing the desired token.
Enter the amount of crypto you want to transfer. After that, click the “Review withdrawal” button to verify everything is correct.
Finally, click “Withdraw” on the confirmation screen. Please note that certain users may be required to complete additional security steps, for instance, two-factor authentication or submitting a KYC; if this is the case, please follow the instructions carefully.
To verify that your funds have successfully arrived, open Zengo. Check your balance on the main balance page. As an alternative, you can also navigate to the history section on the main menu to check your most recent transactions.
Zengo is the most advanced Web3-ready non-custodial crypto wallet for both advanced traders and everyday users. Zengo offers a safe and secure platform for buying, storing, and trading digital assets. With Zengo’s industry-leading security standards and biometric protections, you can rest assured that your assets are always protected and under your control.
Zengo offers unparalleled digital asset security. Instead of having to remember complex 12 or 24-word seed phrases, Zengo uses biometric facial recognition software and MPC technology, ensuring that only you can access and recover your digital assets. It also includes Web3 firewall protection, offering an extra layer of security when interacting with external Dapps.
While other services control how and when you can access your assets, Zengo is completely non-custodial. This means that you get total control of your digital assets. Additionally, with its fiat onramp gateway capabilities, you can use your Zengo wallet to diversify your portfolio over time while maintaining control of your private keys.
Zengo ensures you don’t have to deal with unresponsive bots. We have a dedicated team of professional human support agents ready to help out with any issues you might encounter. Our support service is available 24/7, all year long. That includes holidays, so you’ll always be able to get the assistance you require, no matter what.
Withdrawing from the Zengo wallet app to other wallets is quick and easy. Log into the app, tap “Actions,” and then hit the “Send” button. Select whichever cryptocurrency you’d like to transfer and enter the amount. Finally, paste or type in the receiving address and verify the details of the transaction before you confirm it.
Zengo also allows you to withdraw your crypto in the form of fiat currency. You can choose from GBP, USD, or EUR. To do this, click on “Actions,” then “Sell.” Pick whichever crypto you wish to sell from the list of available tokens, select your desired fiat currency and amount, and confirm your sale.
Below are answers to frequently asked questions concerning cryptocurrency withdrawals from Nicehash.
NiceHash, a well-known cryptocurrency hash power broker and exchange, was established in 2014 by Slovenian university students Matjaž Škorjanc and Marko Kobal. The company is registered in the British Virgin Islands but also has offices in Slovenia. The platform is designed to facilitate a sharing economy within the cryptocurrency sector by connecting sellers of hashing power, often gamers, with high-end graphics processing units suitable for mining, with buyers interested in acquiring this power. By simplifying the typically complex process of cryptocurrency mining through its user-friendly software, NiceHash has made it possible for individuals with a computer and an internet connection to participate in cryptocurrency mining and earn passive income. This is achieved by leveraging the computer’s processing power to mine cryptocurrencies and allowing users to sell their hashing power on the NiceHash marketplace.
NiceHash and Zengo are two distinct cryptocurrency platforms, yet they serve distinctly different purposes and cater to different user requirements. NiceHash is a global cryptocurrency hash power broker and cryptocurrency exchange that streamlines the complex process of cryptocurrency mining. It connects sellers of hashing power with buyers, effectively creating an open marketplace for hashing power. What sets NiceHash apart is that it pays its users in Bitcoin, regardless of the cryptocurrency they mine, thereby simplifying the process and making it more convenient.
In contrast, Zengo is a Web3- ready non-custodial multi-chain wallet app that places a strong emphasis on user security while enabling users to maintain full control over their digital assets. To achieve this high level of security, Zengo employs cutting-edge biometric protections, a Web3 firewall, and MPC technology. With Zengo, users can safely buy, sell, swap, hold, and manage a wide range of cryptocurrencies, as well as securely interact with a variety of Dapps, thanks to its built-in Web3 firewall. So while NiceHash is targeted toward individuals interested in mining, Zengo is ideal for crypto enthusiasts looking for a secure and straightforward way to hold and manage their crypto assets.
The withdrawal fee on Nicehash depends on the network and the amount of cryptocurrency being withdrawn. For the most current information, you should refer to the Nicehash withdrawal fee table on their website.
The time it takes to withdraw from Nicehash is largely determined by network congestion, type of cryptocurrency, and blockchain conditions. Nicehash states on its website that, on average, it can take anywhere from 20 minutes to a couple of hours.
In some cases, you may find that your account has been blocked from making withdrawals from Nicehash. This can happen for a couple of reasons, such as if you reset your password or made other changes to your account. You may also get blocked if your account is deemed to be inactive. You could also encounter issues if you put the wrong wallet address on the incorrect network when preparing a withdrawal. It’s advisable to double-check all details and stay informed about the current network fees to ensure a smooth withdrawal process.
As of June 2023, Nicehash does not directly support fiat withdrawals. To convert your cryptocurrency to fiat currencies like USD, EUR, or GBP, you’ll first need to transfer your funds to a platform that supports fiat withdrawals, such as Zengo. Follow the steps outlined in this guide to transfer your funds to Zengo, and then use Zengo’s “Sell” feature to cash out in your desired fiat currency.
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