Why is Nicehash KYC all of a sudden

[adaseb]

Wanted to use my account after years of inactivity. But before I could do anything it asks for KYC. Why does an mining hash rate marketplace ask for KYC exactly? It’s not an exchange.

This is ridiculous. Especially giving them KYC after that hack that happened years prior. Makes me wondering where they will draw the line on all this KYC stuff.

Any other services such as Nicehash without KYC?

[sxemini]

Wanted to use my account after years of inactivity. But before I could do anything it asks for KYC. Why does an mining hash rate marketplace ask for KYC exactly? It’s not an exchange.

This is ridiculous. Especially giving them KYC after that hack that happened years prior. Makes me wondering where they will draw the line on all this KYC stuff.

Any other services such as Nicehash without KYC?

Nicehash selling Hashpower and exchange coins, so not an real exchange but they need to do this because of regulations.
But i understand your point. I have some old balance in my account, but with KYC no thank you.

[JayDDee]

Is this BS then: https://www.nicehash.com/blog/post/how-to-mine-anonymously-on-nicehash
It even says KYC isn't needed for login accounts.

[FP91G]

Wanted to use my account after years of inactivity. But before I could do anything it asks for KYC. Why does an mining hash rate marketplace ask for KYC exactly? It’s not an exchange.

This is ridiculous. Especially giving them KYC after that hack that happened years prior. Makes me wondering where they will draw the line on all this KYC stuff.

Any other services such as Nicehash without KYC?

safar1980 compiled a list of similar services
https://bitcointalk.org/index.php?topic=5457533.msg62459153#msg62459153
I haven't used nicehash for a long time, but this service does not require KYC for other miners to mine on their equipment. It is now expensive to rent mining equipment there. Try registering a new account.

[JayDDee]

I haven't used nicehash for a long time, but this service does not require KYC for other miners to mine on their equipment.

Neither have I but they never had "their equipment", they just broker sellers(miners) and buyers. They don't rent rigs.
I'm not aware of any services similar to Nicehash. Zpool used to have "hashtap" which was similar to Nicehash buy orders
but there's no mention of it on their web site anymore. I've never seen it anywhere else.

[BitMaxz]

According to this "How to successfully complete the KYC process" if you intend to use hash-power market place KYC is mandatory or if you access your EUR wallet & EUR exchange it will ask for KYC.

And according to this "What is KYC?" KYC is not required but for previously registered users who are logging in for the first time after the launch of the new platform KYC is mandatory and it is required for account protection.

What is your purpose why did you access your old account again? If you are not planning to use the marketplace and EUR wallet/exchange and you just want to use their wallet and mining you can make a new account with email only according to this "KYC tiers".

I am also one of their previous users I never heard or even inform via email that they added KYC.

About the alternative, if you just want to sell your miner's hashrate then miningrigrentals is a good alternative without KYC.

[swogerino]

That is stupid from Nicehash,I have switched back to mining with lolminer trying ETC+ZIL while before I had been mining Bitcoin with Nicehash but no thank you,KYC I only have in a super trusted casino and only level two there because I keep playing almost every day there.

There was such service before called Winminer and it was better in my honest opinion there as they offered payouts in several coins and I never have understood why they got away,they were making money but suddenly they put a post that the service will be no longer available without reason.

[Bitcoin_Arena]

Wanted to use my account after years of inactivity. But before I could do anything it asks for KYC. Why does an mining hash rate marketplace ask for KYC exactly? It’s not an exchange.

Apparently to curb "abuse" of their platform, which I find to be a completely bullshit reason, and from what I know there are just going to keep adding new KYC rules with time until the platform is completely unusual minus first getting KYC verified.
This is how profit driven services always fuck up.

[adaseb]

It said that if you had a old account before the upgrade you didn’t need to KYC but they still said I need to KYC when I try and go to their marketplace section and it says my tier allows nothing pretty much.

Went and tried miningrigrentals and they state in their FAQ that since they basically only connect miners to buyers of hash that they are not required by law to KYC. So no idea why Nicehash which is foreign decides to KYC when miningrigrentals is USA based doesn’t. Great way to kill their business plan.

[FP91G]

I haven't used nicehash for a long time, but this service does not require KYC for other miners to mine on their equipment.

Neither have I but they never had "their equipment", they just broker sellers(miners) and buyers. They don't rent rigs.
I'm not aware of any services similar to Nicehash. Zpool used to have "hashtap" which was similar to Nicehash buy orders
but there's no mention of it on their web site anymore. I've never seen it anywhere else.

I agree with you.
Nicehash works like a regular mining pool and their software allows miners to mine the most profitable coin at the moment. This does not require KYC.
With the rental markets for mining equipment, you need to ask a question to technical support. I asked Russian technical support to answer.
https://bitcointalk.org/index.php?topic=5132119.msg62704098#msg62704098

[OgNasty]

NiceHash offers lots of different services. It sounds like that’s where the confusion is coming from. As far as I’m aware, to mine alts and get paid out in BTC nothing has changed. No KYC is necessary. However, if you are using their services like buying/selling hashrate or buying/selling cryptocurrency, then KYC may be necessary.