People are moving from traditional investment to digital currency and there are lots of unclear terms about it. I have discussed best cryptocurrency investment for 2019 in my previous articles and Today, we are going to talk on mining in cryptocurrency through Genius Mining. There are lots of cloud mining companies who permits you mining but you know what 98% of companies are the scam and only 2% of the companies offer you genuine mining. Out of these genuine mining companies, Genesis mining is one of them. Here in genesis mining review, we will focus on every crucial part of genesis mining.
Genesis mining is one of the aged Bitcoin company and was introduced in 2013. Also the well-known name in terms of cloud mining. The miners on the Genesis mining farm can mine Bitcoin, Ethereum, Dash, Monero, Litecoin, and Zcash. Although it is a genuine company, still a huge group of people wanna know should they invest in it or not and here I will try my best to solve all your queries regarding genesis mining one by one:
How does Genesis cloud mining work?
Behind Genesis mining, there is a simple concept. Via genesis mining, you don’t need to spend plenty of dollars on bitcoin mining hardware and you can take it on lease and pay them in return. All the maintenance headache and setting up requirements is the responsibility of the company who give on the lease.
Genesis mining offers you the most reliable and efficient set up for mining and you have to pay a fee for it. So simple for beginning mining you need to set up an account with genesis mining. After finishing set up you have to choose transaction options and you can fund your account through Bitcoin, credit card, Paypal or wire transfer.
Pricing of Genesis Mining
The price of genesis mining based on the contract you want to do with the company. There are different start-up fees to pay:
If you are a fresher then you can go for 100GH/s lifetime Bitcoin agreement and you have to pay $19 for it. It will assist you to understand the functionality of cloud mining and its profitability.
If you find it tiny one then you can go for 2000GH/s mining agreement sand you have to pay $340 for it. It is a lifetime bitcoin agreement.
The last one and also the largest agreement is 10000GH/s and you have to pay $1600 for it and this one is also the lifelong agreement for mining.
Coins which you can mine through the genesis mining
Coins which you can mine for the X11 contract: Bitcoin, Startcoin, Namecoin, Peercoin, Dash, Litecoin, and Dogecoin
Coins which can you mine for the SHA256 contracts: Bitcoin, Darkcoin, Dash, Zetacoin, and litecoin
Genesis Mining Calculator | Profitability
All the factors on which basis calculate the profitability of contracts changes every day. Our calculation depends on coin price, hash rate, and network difficulty change daily so we can’t assume the exact payout.
X11: The expected payouts from this contract 0.027mBTC per 1MH/s per day with a cost of 13.6mBTC per 1MH/s
SHA-256: The expected payouts from SHA-256 0.37mBTC per 1TH/s per day are made while a cost of 0.25 BTC per 1TH/s
You must also keep in mind that if you go for lifetime agreements then you have to pay only little maintenance fees.
Why should you go for Genesis mining?
There are huge favorable things which push you for Genesis mining. Although there are lots of cloud-based mining companies Genesis provides you what it claims. Observe carefully its advantages which makes it outstanding.
The top most advantage of Genesis mining is that you don’t need to set up from scratch, just sign in and start trading quickly. Like this lots of time has saved.
When you think about mining then you have to expend lots of dollars on mining hardware. And you have to spend also on their maintenance. But when you go for Genesis mining then your rig is already set up and you have to pay only the lease amount.
Easy and convenient
When you mine with genesis cloud mining then there is no chance of heat and clash establishing a mine. You will get a hassle-free experience.
You get lifetime contracts and these contracts are profitable as the value and pricing enhance daily. You have to invest once and you will get profit for whole life.
Is it worth to invest in genesis mining?
Although the company looks legal but still one question strikes in my mind is it worth to invest in genesis mining. But think why we should spend money on cloud-based mining when we purchase Bitcoins with that money and earn a big profit. If the price of Bitcoins will rise rapidly then You will make a huge profit and if it will go down then you will have less loss.
Another noticeable thing is that the company doesn’t provide sufficient information about your mining performance. A good company is one which provides cloud mining calculators and service fees statement but all the two are neglected in genesis mining. If you still wanna go for it then you should contact them and try to get overall information about your mining performance.
What Users Says about Genesis Mining?
There are different views of users about Genesis mining. Some are in favor of it and claiming that they have earned with genesis mining whereas few are considering it a scam so if you wanna know more about the reviews of customers then here I am giving you the links. You can check here before going for it.
Genesis Mining Twitter :
Here, you will get official statements of Genesis Mining Company: https://twitter.com/GenesisMining
Genesis Mining Reddit
It’s very important to know whether YouTube or Reddit users satisfied with the Genesis Mining or not. Down the line before last 2 years, it was worth investing in genesis mining but these days, users are reporting about it. You can check out reddit thread here: https://www.reddit.com/r/GenesisMining/
Is Genesis Mining Scam?
Genesis mining is having around 5 lakh users and plenty of videos available online visiting genesis mining warehouses so it’s looking genuine. However, It’s not truth. As per users, It’s ponzi scheme and they are paying 1/4th of the actual amount. I still advise you to give your time on Genesis Mining Reddit.
Genesis Mining Refund Policy
Guys in case you don’t like Genesis mining then you will try to refund your amount but there is no refund policy. They have clearly mentioned in the contract form that no refund accepted.
Genesis Mining Referral
There is also an affiliate programme of Genesis Mining and you can be the part of it and earn money. The referrals are called agents and they can run one or more website and also refers to other potent customers. If GM found these kinds of traffic then it can remove your Referral account:
- Google Adwords
- Yandex Direct
- Yahoo search
- Naver search
- Daum search
- Adult content websites
- Redirect search
- Spams via email
- SMS promotion
- Using a domain which copies the name Genesis mining
In case you are providing wrong information then your account will be deleted.
The remunerations of Genesis mining depends on the number of customers referred by the agents. The payments will be done like:
- Contracts paid with cryptocurrencies: will pay you after the 6 days of purchase
- contract paid with credit cards: Will pay you after 32 days of purchase
- The contract paid with wire transfer: After one day of approval
Finally, I would advise you to stay away from genesis mining. Another most notable point is that if you are thinking for Bitcoin mining then it is not the good deal for you but with other currencies, you can earn better. Guys, you can earn a lot more when you buy cryptocurrencies instead of mining. But if you have decided for cloud mining then you can’e believe blindly on Genesis mining. You have to do your own research before picking genesis cloud mining. We don’t advise you to go with genesis mining. Also, If you want to give your suggestions then comments below and let us know if you have any query regarding genesis mining. For more updates stay connected.