What is Genesis Mining?
Is Genesis Mining actually worth the money? Will Bitcoin and Cryptocurrency mining ever make you the money you want? Bitcoin and Cryptocurrency Coin investment is a big deal now, a lot of people are making millions of dollars daily. Bitcoin and Cryptocurrency mining or call it cloud mining is an ecosystem within the crypto community that is full of scam.
One of the trusted names in the industry is Genesis Mining. They are cloud mining company that will let you mine every possible cryptocurrency such as Zcash, Dash, Litecoin, Ethereum & Monero.
This article will answer many questions about Genesis Mining. What is Genesis Mining all about? Who are they? Where is the company based? Do Genesis Mining has a mining farm? Is Genesis Mining a scam or legitimate? And you will watch two YouTube Video of Genesis Mining before the end of this article.
Genesis Mining is one of the oldest names that offers best cloud mining services who actually run 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 value of this digital currency scaled up and trading over 4,160.00 USD today.
Definitely, 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 definitely 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 so as to know how it operates and is it really profitable for you to invest or not?
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 rent 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 Genesis mining, 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 cost a new customer $170.
Though the ROI estimate is only accurate if the price of these currencies remains same, it can double your profits if the price doubles and if the price drops, you profits drop too.
How to Buy Genesis Mining Contract
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 it 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's price and hash rate change that make a contract profitable are constantly changing.
YouTube Video Review of Genesis Mining PayOut Evidence
Other Coins You Can 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 look at different contracts and different currencies you can buy with them at Genesis mining.
With the capacity of 1MH/s which costs you 13.6 mBTC, you will be able to receive payouts of 0.37mBTC per day. You can mine Bitcoin, Litecoin, Dash, Peercoin, start coin, and Namecoin.
With 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.
Pricing at Genesis Mining
There is three mining contracts which 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 diamond contract, you can have 10,000GH/s at $1600.
YouTube Video Review of Genesis Mining.
Is Genesis Mining Profitable?
There has been the serious issue of whether Genesis mining is legit or scam but after getting users review and research it’s quite clear that the company actually do run mining hardware and mine coins for you with 166% of ROI per year.
Genesis mining honestly provides every service it offers but it does not mean Genesis mining is always profitable. You profit is always depends on coins you buy and the contracts you choose.
What Genesis Mining User Are Saying.
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.
Moreover, there are also several cloud mining articles about the company (Genesis Mining) that will help you judge for yourselves on their contract profitability and legitimacy.
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What do you think of the Genesis Mining? Kindly drop you are taught in my comment area and I will get back to you ASAP.