BetterHash is a free auto-mining application that runs on a 64-bit Windows PC. For better productivity, it’s recommended to use powerful modern PCs as the platform to run BetterHash.
Windows OS is the only platform that supports BetterHash software. Offering an easy setup, the program does not require professional expertise to use it. The program is updated in auto-mode.
BetterHash users can join the referral program. Now let's see how this platform works and if it's safe to use.
- What Is BetterHash?
- How to Run and Use BetterHash?
- Is BetterHash Safe?
- Fees
- Receiving Reward Money and Balance
- Currencies Available For Mining
- Feedback and Community
What Is BetterHash?
BetterHash is a mining software. The developing company behind BetterHash, Innovative Solutions, has been working in the IT business since 2003. Innovative Solutions company has mastered in developing Windows software and driver management software, in particular. BetterHash is located in Bucharest, Romania. According to BetterHash’s explanation provided on their website, the company does not have access to one’s personal information, because miners solely have access to the processing power of the PC.
How to Run and Use BetterHash?
All mined cryptocurrencies are stored inside the program. You will only need an account to handle withdrawals. To sign up in the user area of the company’s website, one only needs to put in an email and set a password.
According to the feedback on the web, it is first recommended to disable antivirus before installing and running BetterHash. Then, download BetterHash files. To enable the program, you may report BetterHash software as “false positive”. You’d also better avoid running heavy torrent clients at the same time cause they may occupy the port being used by miners.
By clicking the “Select Hardware” button on the main page of the BetterHash website, you’ll be able to find whether your hardware can be used for mining. After the program is installed, users shall pick up the crypto to mine.
The only page you are supposed to monitor permanently is the functional snapshot showing your daily and monthly income by currency. The value is displayed in USD and BTC equivalent.
The company recommends protecting an individual account with 2FA, which can be done in the ‘Security’ section. If you had to disable 2FA, please make sure that you remove BetterHash from the 2FA app and add it again. Otherwise, it won’t be reset. In case you’ve forgotten your 2FA code, feel free to contact BetterHash’s customer service and have 2FA reset back after going through quick verification steps.
To be able to run your miner in a visible mode, you need to make sure that the box “Miners start hidden” from Settings is unchecked.
Thanks to the Profit Switching option, it’s possible to activate a different profit algorithm while maintaining a continuous operation. In other words, it will start mining the most profitable coin paying you a reward in this coin. In order to enable Profit Switching, all user’s miners must be benchmarked.
Switching mining algorithms is only done when the profit difference between the two of them is considerable.
Some miners will not be compatible with the program. They will be detected by BetterHash's auto-check. However, by activating the “force benchmark” option, you’ll be able to put all miners in action, even those which could be evaluated by BetterHash incorrectly and therefore were disabled before.
To interrupt mining, you need to press the “Stop” button in the program. Until you do so, all miners will work including occasions when BetterHash is not responding or stopped working.
Is BetterHash Safe?
There are no user reports about serious security problems associated with the work of BetterHash. There are some complaints and even scam accusations aimed at BetterHash, however, these reports don't contain clear evidence that could confirm these allegations. Nevertheless, there are reasons to consider that the way BetterHash handles its operation doesn't meet the security requirements of some potential users. One of the main selling points of BetterHash is that this software does most of the job so users don't have to do much themselves. On the negative side of things this means that users don't have much control over what is happening. For instance, BetterHash creates wallets for each currency user mines. Users don't have access to the private keys. They only can withdraw the coins to another wallet. Until the money is withdrawn, it is in full control of BetterHash. Not everyone considers such custodial services safe and tolerable. So it's up to you whether you feel OK with such an approach.
As for features that can be enabled by the user to enhance the security of the account, the main measure is turning 2-factor authentication (2fa) on. 2fa when enabled makes it impossible to enter the account or withdraw money without providing a one-time password that can be found in the only place — on the account owner's device. This one-time password is generated for 30 seconds in the Google Authenticator app or similar application installed by the account owner. Some people get turned away from mining software because antivirus programs often mark it as a threat or malware. BetterHash is not an exception. Those who want to install and use BetterHash should temporarily disable antivirus in order to successfully complete the installation of the mining program or add this program to the AV's whitelist. BetterHash is not a malware. Moreover, BetterHash is updating automatically which protects the system from malware and viruses.
Fees
You won’t pay withdrawal or usage fees here. You will be only charged the pool commission which is around 1%, in addition to the network’s fees. All information regarding fees is available on a special page of the website called “Fees”.
However, there is a fixed fee charged for the BTC withdrawals. It makes 0.0002 BTC and is flat.
Receiving Reward Money and Balance
In order to receive your reward, make sure to link your BetterHash to the individual online account with the wallet address belonging to the blockchain of the coin you are mining. If you are using different PCs at the same time, then you are recommended to log in to your account with the same credentials. It will allow you to store all coins you mine with one account while enjoying the benefit to use BetterHash on multiple computers.
The transfers are being monitored by the BetterHash team so that they could be manually performed in case of an error.
The balance reflected on the account may from time to time alter based on the data supplied by the pool. This is the data about confirmed shares plus an estimated value of the next coming payment. The accuracy of these figures depends on the percentage of stale shares. These are the shares being sent after resolving a block. Since these shares were sent to the network too late, they became invalid. This is the reason why miners are recommended to have a better configuration. It allows for making more money. It’s impossible to predict stale shares and prevent sending this data to the pending balance. But since it gets validated only after the arrival of the final data, you should pay attention and account only for the confirmed balance.
Balance can also be negative because the network fee exceeded the estimated one.
Currencies Available For Mining
Bitcoin (BTC), Bitcoin Gold (BTG), Ethereum (ETH), Ethereum Classic (ETC), Grin Coin (GRIN), Monero (XMR), RavenCoin (RVN), Zcash (ZEC), and ZCoin (XZC) are the currencies eligible for mining with this platform.
Mining Bitcoin requires much more powerful processing capabilities than those provided by a home computer. Therefore, BetterHash suggests you focus on altcoins and exchange mined coins for Bitcoin after. The exchange is powered by Binance.
Feedback and Community
It was noticed by testers that the program buys itself only on the condition that energy cost is low. Another important factor is the current value of the digital asset which is volatile and highly variable depending on the given market conditions.