i would try to identify the source of the hiss - there are many possibilities, but here are the basic areas:
1. environment. this can be your computer (especially a laptop), HVAC, or some other equipment that has some noise output. point the mic away from them, and deaden the area behind the source if possible.
2. gain staging (external). you need to get as big a difference between the signal and the noise in the analog part of your chain. get the mic as close to the source as you can. if you are recording vocals, then use good mic and singing technique (use your diaphragm!) to increase volume without adding plosives, breath sounds or changing the tone of your voice.
3. gain staging (internal). as bit said, you are using a bitcrusher effect so one way to look at it is that you are making the noise louder. stage 1, use a noise gate + expander. the noise gate will eliminate noise when the source is silent, and the expander increases the volume of the signal you want while keeping the noise floor low. stage 2, EQ the signal, concentrating on dipping frequencies you aren't interested in. stage 3, apply the compression/limiter/etc. effect.
also realize that noise is part of any "lo-fi" sound, so you aren't looking to eliminate it entirely, just make it part of the background to your tracks. the most distracting thing isn't necessarily noise, it's unexpected noise. i've listened to plenty of commercial songs where i've heard a bit of noise come in when a certain track (breathy vocals, finger-picked guitar) is on and then disappear when it's quiet again.
if you still get hiss after all that, you might want to switch back to a more sensitive mic and "fake" the lo-fi with tape/EQ/tube/saturation effects. you can definitely use a pinpoint EQ to try to eliminate the hiss, or create a copy of the hiss on its own and reverse phase it against your tracks, but i've never had lots of luck with that.