You are welcome to my Genesis Mining review. I am certain you are here because you want to know if Genesis Mining is profitable. But, Is Genesis Mining legit? Can you make money with Genesis Mining?
It is important to always do the due diligence, this is how I discovered how to transform my skills into a full-time income online.
But, is Genesis Mining legitimate or scam? Compare Genesis Mining Vs Hashing24, which is better?
Bitcoin and Cryptocurrency Coin investment is a big deal now, but is Genesis Mining profitable? Or, Is Genesis Mining legit?
Bitcoin and Cryptocurrency mining or call it cloud mining is an ecosystem within the crypto community that is full of scam.
What is Genesis Mining?
One of the trusted names in the industry is Genesis Mining.
They are a cloud mining company that will let you mine every possible Cryptocurrency such as Zcash, Dash, Litecoin, Ethereum & Monero.
This article will answer any questions about Genesis Mining:
- What is Genesis Mining all about? Who are they?
- Where is the company based?
- Is Genesis Mining Profitable?
- Does Genesis Mining have a mining farm?
- Is Genesis Mining legitimate?
- Can you make money with Genesis Mining?
Genesis Mining is one of the oldest names that offer the best cloud mining services; It runs mining hardware and most transparent hosted hash power provider for Bitcoin and Altcoins.
In recent months, the value of Cryptocurrency increased so much that those creating the Cryptocurrency can't keep up with it after the importance of this digital currency scaled up and trading over 4,160.00 USD today.
The price of the crypto-coin will fall and rise, but the good news is that the crypto coins are here to stay. And they will dictate the future of money.
Genesis mining was kick-started back in 2013 and came into limelight after leaving Hashing 24 and GM cloud mining companies behind by providing the most transparent infrastructure of business model with large-scale multi-algorithm cloud mining service.
The company has a mining farm that is located in a remote location in Iceland.
Let's dig deeper into Genesis's cloud mining business model to know how it operates and is it profitable for you to invest or not? Please learn more about how Marco Andreas Streng co-founded Genesis Group on Wikipedia.
How Does Genesis Cloud Mining Work?
The concept of cloud mining is easy to understand but hard to establish.
Genesis cloud mining operates on a fundamental principle of letting you lease Bitcoin mining hardware instead of spending thousands of dollars on complex hardware & software and let you keep the profit to yourself.
The company rents out the miners and lighten the stress of choosing a Bitcoin pool, software, and hardware along with the maintenance. In return, you required paying a certain buck for their service.
There are six different currencies that can be mined but Bitcoin Mining is the most popular product on Genesis Mining.
Kick Start with Genesis Mining
After signing up at Genesis mining you will be able to choose how much hash power (MH/s) you want to buy.
With the website, you will be able to estimate the ROI (Return on Investments) & profit per year with the Hash power (MH/s) you are buying.
For example, with mining capacity or Hash power (MH/s) of 1.19TH/, you will be able to generate around 0.00035BTC after maintenance is eliminated which costs a new customer $170.
Though the ROI estimate is only accurate if the price of these currencies remains the same, it can double your profits if the price doubles and if the price drops, your profits drop too.
How to Make Money with Genesis Mining
When you buy hash power from Genesis mining, you are actually buying ‘open-ended'; or never-ending lifetime contract that means contracts do not have a maturity date.
And will run until it stops being profitable or as long as the contract is profitable you will continue to mine and receive payouts.
Every contract is different and factors such as network difficulties; coin price, and hash rate change that make a contract profitable are constantly changing.
Genesis Mining Review – Video
Coins to Mine With Genesis Mining
Genesis will let you mine any coins that you want but it is dependent on which contract you buy.
Let have a look at different contracts and different currencies you can buy with them.
With the capacity of 1MH/s which costs you 13.6 BTC, you will be able to receive payouts of 0.37mBTC per day. You can mine Bitcoin, Litecoin, Dash, Peercoin, start coin, and Namecoin.
With the mining capacity of 1TH/s which costs you 0.25 BTC, you will be able to receive payouts of 0.37mBTC per day. It will let you mine Darkcoin, Dash, Bitcoin, Litecoin, and Zetacoin.
Cost and Pricing of Genesis Mining Contract
There are three mining contracts that are quite suitable for beginners to large investors and called gold, platinum, and diamond contracts respectively.
All of them are lifetime Bitcoin mining contracts.
Gold contracts offer 100GH/s at $19 which is the most basic plan Genesis offers.
With the Platinum contract, you can have 2000GH/s at cost of $390, and with the diamond contract, you can have 10,000GH/s at $1600.
Genesis Mining Vs. Hashing24
Genesis Mining has been the oldest cloud mining company around and is one of the companies which have their data center public and in Iceland.
They have the latest hardware, and they have cooled efficiently and cheaply thanks to their optimal locations.
But what is Hashing24 all about:
Hashing24 Review: Great Earning and Fast Payment
One of the other genuine companies is Hashing 24, listed as a partner of Bitfury. There is no spot on the credibility of the company.
Trust is ensured by transparency and review of Hashing 24 has shown that its addresses and offices are listed publicly, and on its website, one can go down to Scotland and find their office.
They also offer to discuss the plan with clients who don't have time to go through them on their site itself can discuss them with the representative whose numbers are provided on the site, and they can also be contacted by email.
Offering several plans and claiming 100% uptime, they claim to provide the best in class gains for potential investors.
Hashing24 Follows a Classified Approach
While Hashing 24 claims to be the best for gains, the data centers don't work in their favor is the data centers,
The website has its data center with all the hardware and stuff in Iceland, i.e., it is public on the other hand; hashing 24 hasn't disclosed the location of their data center.
Review of Genesis mining company disclosed that it charges a maintenance fee which is fixed at 0.00028 per GH/s per day which when compared to maintenance fee charged by
Hashing 24 is lower by 0.00005 per GH/s per day.
This does not mean that Genesis mining is more profitable.
Hashing24 offers lifetime plans, whereas the methods provided by this company are open-ended with a term of 2 years.
Both of the cloud crypto mining companies offer daily payouts.
Trust in cloud crypto mining currency based companies is established with time, and as far as time is concerned this site is one of the earliest established companies.
Hasing24 began its operation in 2016, however, the Bitfury mining data center as claimed by the company to put credibility in Hashing24's name.
Reinvestment Through Hashing24
One of the features offered by the Hashing24 is reinvestment, which allows you to buy extra hashing power with the bitcoins just mined, which is more profitable.
This site offers an extremely flexible allocation of hashing power, and the client can decide which coins to mine with their hash power; this feature proves to be useful for people mining several cryptocurrencies.
My Verdict – Hashing24 Vs Genesis Mining
What do you think? Which one is more profitable? Is it Genesis or Hashin24?
While Hashing 24 is certainly not the oldest and most reputed company, but it does offer a unique and intriguing approach.
The site offers transparent hash power providers, and they do have some shortcomings, but it is one of the most trusted hash power providers.
The battle is always Genesis Vs. Hashing24 until years to come when another company can compete well to beat these two Bitcoin mining pool.
The decision to choose which provider suits your needs is yours, so choose wisely. You should know that bitcoin mining is a top proven strategy for making your money work for you.
So what is your thought? Do you have a better way of mining bitcoin?
I was hoping you could share with my audience so that we can both learn from you. You are also free to drop your idea and comment below.
Won't you like to know which one I am going for between Genesis Mining and Hashin24?
My choice is always Hashing24; it has been the most profitable bitcoin mining pool for me. Also, is Genesis Mining legit?
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Do Genesis Mining worth the money? Kindly drop you are taught in my comment area and I will get back to you ASAP.
Is Genesis Mining Profitable?
Thanks for reading my Genesis Mining review. Can you make money with Genesis Mining? Is Genesis Mining legit?
So, what do you think about this site? What is your verdict about Genesis Mining Vs Hashing24?
Do you think it worth your money? Can you invest in mining Cryptocurrency Coin?
There has been a serious issue of whether Genesis Mining is legit or scam but after getting users to review and research it’s quite clear that the company actually does run mining hardware and mine coins for you with 166% of ROI per year.
The site honestly provides every service it offers but it does not mean Genesis Mining is profitable.
You profit is always depends on the coins you buy and the contracts you choose.
Most of the reviews from different users are positive which we found as part of the research.
According to Alexa Rank, more than 20% of visits to this site come from a search engine, making the Genesis mining one of the best cloud mining companies.
What do you think of my Genesis Mining review? Can you now make money with Genesis Mining? Is Genesis Mining legit?
Moreover, there are also several cloud mining articles about the company that will help you judge for yourselves on their contract profitability and legitimacy.
Other Important Post Include
Genesis Mining 2021 – Video
It is great to meet you finally. John is my name, and I'm the owner of Amazing Profits Online. I am a Full-Time Affiliate Marketer at Wealthy Affiliate, a community that teaches anyone to earn a full-time income online with their own passion-driven online business. No Credit Card Is Needed. It is FREE to Join. You can also Click here to get to know more about me.