Creating a bitcoin address for the Nerdminer V2, the NerdNOS and any solo miner: a 2026 guide

Your solo miner is in front of you — a Nerdminer V2, a NerdNOS or another small solo mining device — and between "plug in USB" and "my own block" stands exactly one hurdle that beginners almost always trip over: you need a bitcoin address of your own. Without it no solo miner runs, because the stratum pool would not know where to send a possible block reward.

The good news: getting a valid bitcoin address is free, takes under 10 minutes, and the process is identical for every solo miner. This guide shows which address format your device accepts, how to get one in a few steps and how to enter it correctly. Every technical detail here is checked against the official NerdMiner_v2 documentation, the NerdNOS firmware (nerdnos branch of NerdMiner_v2), the bitcoin BIP-173 specification (Bech32) and the public pool data on mempool.space.

Why do you need a bitcoin address at all?

Whether it is a Nerdminer V2 (ESP32, around 250 kH/s) or a NerdNOS (BM1397 ASIC, 80-130 GH/s), both do real bitcoin solo mining through a public stratum pool such as public-pool.io. If your device finds a valid block, the block reward (currently 3.125 BTC plus the transaction fees of every transaction in the block) is transferred in the so-called coinbase transaction straight to the address you entered in the miner's configuration. Without that address there would be nobody to receive the reward, which is why the pool rejects the worker as soon as it connects.

In short: the bitcoin address is your inbox for a potential reward. It has to belong to you, not to the seller, not to the pool, not to anyone else. The bitcoin network sends the amount there by protocol as soon as the block is confirmed.

What exactly is a bitcoin address?

A bitcoin address is a string of letters and numbers, rather like an IBAN but with more characters and a built-in error check. Behind every address sits a private key that works like a password: whoever holds the private key controls all the bitcoin at that address. The address itself you can share freely; it is only the inbox, not the key to the safe.

Worth understanding: the address itself holds no bitcoin. It is only an account marker on the public blockchain. Every payment to an address is publicly visible, and anyone can look up on mempool.space how much bitcoin has flowed to a particular address.

Which address formats does your solo miner accept?

Bitcoin has introduced several address formats over the years, each with different transaction efficiency and compatibility. Not every one works with every solo miner. This overview shows what to use:

Rule of thumb: always choose bc1q (native SegWit, Bech32 per BIP-173). That keeps you safe on every solo miner, whether Nerdminer V2, NerdNOS or BitAxe. If you accidentally get a Taproot address (bc1p…), the Nerdminer V2 rejects it. Most modern exchanges and wallets let you choose the format when receiving; pick native SegWit.

Three ways to get a bitcoin address

Broadly there are three options for getting a valid receiving address, each with its own trade-offs:

1. A regulated crypto exchange — the simplest route for beginners. Register, verify your identity (KYC by video ident), get a receiving address immediately. The exchange holds the bitcoin for you (custodial).
2. A software wallet (self custody) — an app such as BlueWallet, Sparrow or Electrum generates a private key that only you control. Full control, and full responsibility for the backup and seed phrase.
3. A hardware wallet (self custody, maximum security) — a physical device such as a BitBox02, Coldcard or Trezor keeps the key offline. The safest option, but it costs €50-200.

For getting started with a solo miner, where the appeal lies in following along — small amounts day to day while your device could land the big block find at any moment — option 1 is the most beginner-friendly. We explain it using Finst as the example.

Option 1: creating a bitcoin address with Finst, step by step

Why Finst (and not Binance, Coinbase or Bitpanda)?

Finst is a Dutch crypto exchange based in Amsterdam (Finst B.V.). Three concrete reasons why we currently recommend Finst for solo mining beginners in German-speaking Europe:

• MiCA licence (AFM regulated): Finst was one of the first platforms with a MiCA licence from the Dutch financial regulator AFM (licence number 41000015). MiCA is the EU-wide crypto regulation (regulation 2023/1114), with strict consumer protection and transparency requirements that apply directly to customers here.
• 0.15 % fee per trade: considerably cheaper than most beginner brokers. For comparison: Coinbase Consumer 1.5-3 %, Bitpanda 1.49 %, Bitvavo 0.25 %. For a pure receiving address the fee is irrelevant anyway; receiving bitcoin (from a block find, for example) is always free at reputable exchanges.
• Proof of reserves: Finst is currently the first and only Dutch platform with independently audited proof-of-reserves verification (by Audit Now). Which means all customer funds are demonstrably held 1:1 and separated from company assets.

Alternatives in German-speaking Europe: Bitvavo (NL, similar setup but no independently audited proof of reserves yet), Bitpanda (AT, higher fees, broader portfolio), Coinbase (US, higher consumer fees), Kraken (US, solid but a more complex interface). In our view Finst has the best mix of low fees, strict EU regulation and a beginner-friendly experience.

1. Registration (about 3 minutes)

   Open finst.com and click "create account". You only need an email address and a secure password (at least 12 characters, mixing upper and lower case, numbers and symbols). Confirm your email through the link from Finst and you are in the dashboard.

2. Identity verification / KYC (about 5 minutes)

   Because of the EU anti-money-laundering directive (AMLD5) and the MiCA regulation, Finst has to verify your identity. That happens by video ident in the browser or in the Finst app. You need a valid ID card or passport, a camera and about 5 minutes. Your account is active immediately after successful verification.

3. Generate the bitcoin receiving address (about 1 minute)

   In the Finst dashboard click "deposit" and choose bitcoin (BTC). Finst shows your personal receiving address. It should begin with bc1q and be about 42 characters long. Copy it and also save it in your password manager, so you have it to hand when you reconfigure the miner later.

Important: receiving addresses rotate at some providers. The old addresses stay valid, though: bitcoin sent to an earlier address is still credited to your account. So you can leave the address you received once in the miner permanently.

Entering the bitcoin address in the miner (Nerdminer V2, NerdNOS and others)

The setup process is practically identical on the Nerdminer V2 and the NerdNOS; both open a configuration network on first start. Here is the short version, with the detailed device-specific guides covering every single field linked below.

1. Connect the miner to USB power

   Connect the miner over a USB-C data cable (not a charge-only cable) to a charger, power bank or laptop. The NerdNOS needs at least 2 A. The display and power LED show setup mode with a QR code after a few seconds.

2. Connect to the setup network

   Both devices broadcast a configuration network called NerdMinerAP (depending on firmware also NerdMiner_xxxxxx). Connect your phone or laptop to it. If a password is requested, use MineYourCoins.

3. Open the configuration page

   The page usually opens automatically through a captive portal. If it does not, enter 192.168.4.1 in the address bar. You will see the setup form with SSID, Wi-Fi password, BTC Address, Pool URL and Pool Port.

4. Paste the bitcoin address

   Paste your bc1q address into the "BTC Address" field. Check carefully that no character is missing: bitcoin addresses carry a built-in checksum (Bech32), and a single wrong letter breaks the pool connection.

5. Enter the Wi-Fi details and save

   Enter your home Wi-Fi details (SSID and password, on the 2.4 GHz network) and leave the pool URL and port at their defaults: public-pool.io, port 21496. Click "save". The miner restarts, connects and mines straight away. The display shows live hash rate, the current block height and the stratum connection.

What happens if your miner finds a block?

Suppose your solo miner really does find a block (statistically rare, but in the documented solo pools a hobby miner somewhere in the world finds one again and again). Then this happens, in order:

1. Block found — your miner computes a valid block hash and submits it to public-pool.io.
2. The pool verifies and forwards it — the pool checks the block and sends it to the bitcoin network. Nodes worldwide accept it.
3. Coinbase transaction — the first transaction in the new block transfers the block reward, currently 3.125 BTC plus transaction fees, to the bitcoin address you configured.
4. 100-block confirmation — bitcoin protects coinbase rewards with a waiting period: 100 further blocks have to be found before the reward can be spent (about 16 to 17 hours). That rule is in the bitcoin protocol itself.
5. Automatic credit — once the 100 blocks have passed the amount is available. At Finst it appears automatically in your account's bitcoin wallet. You can hold it, exchange it or withdraw it in euros by SEPA.

So there is nothing to collect actively. The process runs by itself once the block is confirmed and the 100-block maturity is reached.

Security notes and good practice

Your bitcoin address is NOT secret

Receiving addresses can be shared publicly without concern. They contain no hint of your private key. You can show your miner address in screenshots or post it in forums with no security risk. (Privacy note: anyone who knows the address can see on mempool.space how much bitcoin has flowed to it. For maximum privacy you use a fresh address per payment, which is not practical for solo mining.)

The private key and the seed phrase ARE secret

Never share: your private key, your seed phrase (12 or 24 words) or your Finst password. Whoever holds one of them has full access. Reputable providers never ask for your password or seed phrase by email, phone or chat; any such request is phishing.

Turn on two-factor authentication

Enable 2FA immediately after registering, ideally through an authenticator app (Aegis, Raivo, 1Password, Authy) rather than SMS. SMS 2FA is vulnerable to SIM swapping and is no longer recommended for crypto accounts.

Advanced: self custody as an upgrade

If you later want to hold bitcoin long term, you can move to self custody at any time: (1) set up a software or hardware wallet, (2) generate a new receiving address, (3) reconfigure the miner. Our guide to changing the miner configuration covers changing the address too.

Frequently asked questions

Conclusion: ready in under 10 minutes

The steps once more, identical for the Nerdminer V2, the NerdNOS and every other solo miner:

1. Create a Finst account (3 min, free)
2. Complete KYC by video ident (5 min)
3. Get the bitcoin receiving address in the deposit area (1 min); it has to start with bc1q
4. Connect the miner to USB, open the setup network, paste the address, enter the Wi-Fi details (1 min)
5. Save; from now on the miner runs 24/7 and mines on the bitcoin network

That is all there is to it. Whether your device ever finds a block is down to probability; until then you get live hash rate, block updates and difficulty straight from the bitcoin network on your display. And if it does happen, the full block reward of 3.125 BTC is yours, transferred automatically to the address you set up today.

Further reading

• Setting up the Nerdminer V2, the complete step-by-step guide
• Setting up the NerdNOS, address, pool and troubleshooting
• Bitcoin solo mining 2026, the big fundamentals guide
• The block chance, your real odds at €190,000+
• Changing the mining pool, custom stratum and solo pools