Got my first payment from Nanopool today: 0.1 Eth, about £155. Neat experiment, but I'll give it a break now: general performance was fine, but it made image editing slow. I could just mine when I'm not working or only at night or something, but that involves effort - and it's already a month and a half between payments, which is a big commitment. If I change my mind a month in, that money's lost (unless I drop the payout limit and eat the gas fees, I guess.) Might be a different story if I had something gruntier than a 2080!
OK, earning bitcoin is one thing, but cashing out seems to be a problem. Nicehash won't let you withdraw to a bank account unless you confirm ID by uploading your passport - I don't have one. I haven't been abroad in over 20 twenty years. No problem - transfer the bitcoin to Coinbase Pro and cash out there. Yeah... it refuses to verify bank accounts and just throws up a vague error and they don't seem to respond to queries - there are armfuls of examples online, with no apparent attempt at resolution from Coinbase. Can anyone recommend an online wallet/service that lets you cash out without reaming you?
Every single exchange (not wallet) which operates in the UK requires KYC and AML - Know Your Customer and Anti Money Laundering. You have to prove your ID, no exceptions. That is, unless you're happy not actually using a company. LocalBitcoins puts you in touch with randomers who want to buy your crypto (or sell you crypto), and 'cos it's just introducing two individuals there used to be no KYC/AML involved. 'course, because it's just introducing two individuals there's no guarantee you're not going to get ripped off. It has protections in place, but they ain't perfect - and not a damn one will protect you against it turning out you got paid from a hacked bank account and the transfer gets reversed. Back in 2019 - long after I last used it - KYC was added, but it's less onerous than most and only really kicks in after €1,000. There's also a fully-decentralised one I used a few years ago, but I'm damned if I can remember the name. It went pretty smoothly, from memory, but you had to keep the software running until the transaction was fully complete. Your other option is to sell it on the marketplace - or just spend it. Purse.io lets you spend Bitcoin on Amazon by pairing you with randomers who accept your Bitcoin and buy your goods for you. I used it backwards a couple of times - I received Bitcoin and bought some stuff for a guy in Mexico and another guy in Japan - and it went pretty smoothly. It's ripe for fraud, though, 'cos the person who's buying on your behalf could well be doing so with stolen gift vouchers or a stolen credit card... EDIT: Ah, snap, that properly decentralised one is Bisq. Absolutely no KYC or AML at all, but I remember when I used it - which was, granted, a long time ago, and under a different name I've already forgotten - it had liquidity problems. Should work for small-volume trades, though, but again there's the risk you'll be paid from an illegitimate source.
I use NiceHash -> Coinbase (free account) -> PayPal to cash out The fees are comparatively small at each stage
Thanks, Gareth I have no problems verifying ID, coinbase pro requires it to set up, but they allow UK driving licence as ID. As I said though, they simply do not want to verify bank accounts, and offer little to no help to resolve the issue. @oasked that's useful to know. Thanks
Depending how much you're looking sell, I'd take all of it/some of it off you. I'm hopefully slightly less random than LocalBitcoins PM me if you're interested
Nicehas to Coinbase (free) Coinbase to Coinbase Pro (free and instant) BTC to GBP on Coinbase Pro Coinbase Pro GBP to bank account I've not yet done the last 2 yet, but here is their fee: 0.5%, seems reasonable enough. https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees I've done £25 Coinbase to Paypal just to try. Got stun with £1.50 fee. https://help.coinbase.com/en/coinbase/trading-and-funding/pricing-and-fees/fees
I've been using Coinsbee to monetise as and when. Not quite cash, but as good as if it's getting spent anyway.
20% of my 3090 paid off - not bad for a month's work Sorry @BeauchN, I didn't see this until after I transferred the money to paypal. I appreciate the offer though.
So after approximately 6 weeks mining on a 3070, just cashed out £168. Not bad in all. Had a number of days with downtime due to things stopping mining or me forgetting to restart after gaming. Decided to run 24/7 so electric costs aren't zero but a good chunk of the day time running is covered by solar gen so consider most of that amount as profit. Will be easier to gauge when I don't have builders onsite brewing up and running cement mixers!
Mate of mine's just pointed me in the direction of Handshake, which is running an airdrop. Bit of a faff to claim, but worth it: if you had more than 15 followers on GitHub in February 2019 and had an SSH or PGP key linked to the account (to which you still have access), or if you had a Hacker News account at least a year and a half old and linked to Keybase.io (and, again, still have access) you can claim just over 4,200 HNS. Which is about £2,250 at current pricing. So, yeah, definitely worth the hour or so I just spent getting it claimed!
Anyone dabbling with the freebies on Coinbase earn? My son recommended me to have a go, and I've been on for 5 week sor so. I have 6 flavours of crypto on the go at the moment, having been given $34 over the last few weeks
Yeah, I have a few different cryptos in my portfolio. I was surprised to see that they're worth £20+ when I've only held them for a week or two.
I seem to be over £30 more often than not at the moment. My wife bought in the other week and added £30 in ETH as she had a small windfall last week. What are you holding Dave?
Your nicehash payments increasing would be due to ETH hitting new ATH's.., its gone up $1000 in a week... EDIT: And gas price changes on ETH throughout the weekend too.
