Genesis Mining
In today’s article, I’ll introduce Genesis Mining (GM), a genuine cloud mining service, i.e. not a scam! Because most cloud mining sites out there are scams, pure and simple… But GM is a legit company, founded in 2013, which owns several mining farms all over the world. And it’s one of the most popular cloud mining provider for bitcoin and altcoins. Here’s my Genesis Mining review!
Genesis Mining, a leader in cloud mining
It all started with crypto-currency enthusiasts who met online, on a trading platform. And instead of investing in bitcoin, they decided invest in their own cloud mining services: Genesis. Most of their employees have scientific backgrounds or are engineers.
The headquarters of the cloud mining service provider is based in Hong Kong. While the exact locations of their mining farms are not known (due to security reasons), they have several in Europe, America, and Asia. They use advanced equipment, with most centers running ASICS. And they even boast of having the world’s largest data center for ethereum mining! On their website, they advertise about their datacenter in Iceland, where they also mine bitcoins and dash.
How does Genesis Mining work?
Genesis cloud mining sells mining contracts. Therefore you pay for a defined amount of computing power and Genesis mines for you. The point is that you don’t have to invest in hardware, software, setup, and maintenance. But you lease the hardware from GM and share the profit with them.
Genesis mines on multiple pools, to maximize the chances of earning and gives you a share of the revenue. You can mine one or more crypto coins, and get paid in another cryptocurrency if you feel like it.
When you buy a Genesis Mining contract, you take the gamble that the currency you mine will earn you more than the price of the contract. And this is usually the case, except when the currency collapses.
What about Genesis Mining payouts? GM provides daily payouts of all mined coins. But you’ll receive your payouts only once you have accumulated to a certain quantity of coins, to prevent excessive fees… So it may take a while to get a payout with their most affordable plans, just saying.
What coins can you mine at Genesis?
GM is a multi-currency cloud mining service. So you’re not limited to bitcoin, ethereum or litecoin to name the most popular. And you can mine all these coins:
While you have the choice of the currency you can mine, you should visit the Genesis site. Indeed, some plans are sometimes out of stock…
Genesis offers 2 years mining contract, and here are the contracts available when I write this article:
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- Ethereum cloud mining
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- Monero cloud mining
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- zCash cloud mining
Once you purchase a contract, Genesis starts mining immediately. And you can get your first payout the day after!
Is mining on Genesis profitable?
That’s a tough one… But why buy a contract from Genesis mining if it’s not profitable, right? The thing is that the profitability factors you need to analyze are constantly changing. Indeed, the answer to this question depends on the coin’s price, the network difficulty, and the hash rate. As a result, you should do the calculations by yourself!
While Genesis is a reputable cloud mining website, I can’t say it’s profitable or not in this article… If you want to mine bitcoins, I guess it’s more affordable to start with cloud mining than purchasing your own rig!
Are there Genesis Mining promo codes?
Yes! You can enjoy up to 3% discount on your Genesis plan with this promo code: IVgixb. And you can use it with both a new account or an existing one. Simply apply the promotional code at checkout and enjoy your discount on Genesis Mining plans.
Conclusion
When you don’t know what cloud mining provider to choose, selecting Genesis is common sense. Indeed, it’s one of the largest (the largest?) cloud mining services on the market. And it’s trusted by thousands of cloud miners.
While the profitability of cloud mining needs to be determined, Genesis will allow you to start mining within minutes. And you won’t struggle with hardware, software or maintenance. If you’re not ready to purchase some coins, then cloud mining seems to be the solution. And Genesis is the best cloud mining service provider, period.
What I really like with Genesis cloud mining is the fact that you can mine several crypto coins. You can split your computing power between coins: bitcoin, dash, ethereum, litecoin, Monero or Zcash.
Is Genesis Mining scam? No, it’s not. I’m not saying is profitable, as I said above. But with Genesis, you’ll be cloud mining crypto-coins. And not feed another Ponzi scheme!
Finally, for those who have already used Genesis bitcoin mining, let me know what you thought about it below! And if you have any questions or comment about this cloud mining service provider, feel free to send me a message.
Here is what I think after mining in Genesis for a very long time now. I have a few contracts running in GM and after all this time it is still profitable for me to mine. I get my daily paymants and I can say that I am more than satisfied for now. I hope next year will be better for all of us mining and mining companies.But I never had doubts about Genesis’s transparency or if they are legite. For me, they are the only trustworthy mining company on the market and the only ones who are open about their business so that makes me safer and secure about my money invested there.
Thank you for your opinion Nane88!