Genesis Mining Review

Genesis Mining: Prices, Profitability, Pros and Cons

Genesis Mining is the one of the fewest cloud mining services available on the online. Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power. This type of cloud mining enables users to mine bitcoins or alternative cryptocurrencies without managing the hardware. Cloud Mining is hassle-free and requires no pro-knowledge about mining.

Genesis Mining provides a facility of buying their packages to earn a percentage of their total production. It operates from undisclosed region and tends to provide a reliable Cloud Mining features to users. Starting from Bitcoin, it also covers Ethereum, Dash, Litecoin, Monero, Zcash and few other altcoins mining. X11 and SHA-256 algorithm is used behind the mining process.

Anyone can choice their package from 3 prefixed pricing available on their service. More flexibly, there is a custom package configuration. The outcome depends on your hashpower and investment. The payment is made automatically to your desired wallet. Founded in 2013, it is most transparent Cloud Mining and not a scam so far.

How Genesis Mining Works

Mining in cryptocurrency means the process or industry of extracting electronic-currency from its network. Beginning miner needs a robust computer where more money is poured onto its CPU and GPU. The more you spend on upgrading the hardware the better the result of getting cryptocurrency.

Many people find GPU and CPU are overpriced. Luckily, technology always has an answer for every problem related to tech. You can buy shared cryptocurrency mine-able computers over online. With no vast knowledge about configuring a PC nor the method of setting up complex software and hardware, you can still make money from mining by Genesis cloud mining. Instead of bringing noisy and complex hardware to your home you can simply lease their machine.

Genesis Mining handles a large scale of GPUs and CPUs and extracts the cryptocurrency from its block. It acts a company which relies on users investments. Genesis Mining owns their own facilities around the world and runs those infrustructures by the money gained from users shares. As people buy their service, so do they gain money to upgrade their machines. Genesis Mining investing is a proven method of earning through Cryptocurrency platform.

The company have hired professionals in Cryptocurrency management field to make sure their service runs all time. Any disruption or damage of their service won’t cause a user to loss his/her assets. The process of Genesis mining at user-side is simple, one just need to sign up and make purchase of the right package. The client-side handles the most complex part where the Cryptocurrency is mined. Anyone with basic internet knowledge can earn money through Genesis Mining.

Available Currencies

Genesis Mining offers several altcoins to be mined in their system. The majors are Bitcoin, Ethereum, Dash, Litecoin, Monero, and Zcash. More altcoins are expected to be available on Genesis Mining in future. The service usually take a survey on Facebook to implant new altcoin in their platform.

Genesis Mining Pricing

Genesis Mining offers three different types of packages for mining. Each package price differs from others and hashpowers are also vary. Genesis Mining package price is based on USD and the payment can be made through credit card or cryptocurrency. Every cryptocurrency comes with 3 fixed packages and 1 custom package. Maintenance fee is applied for SHA-256 algorithm based cryptocurrency while X11 algorithm based Cryptocurrency doesn’t include that.

As of today the price and packages are detailed below. Each Genesis contract comes with a 2 years of service. Genesis Mining fee contains maintenance, server and transaction fee.

Cryptocurrency Mining Profitability

The Genesis Mining profitability isn’t constant and varies each day. To get up do date profitability example you need to research. Genesis Mining profit are calculated from the value of each Cryptocurrency. The following scenes act as a Genesis Mining calculator.

Example 1

SHA-256: You can expect payouts of 0.37mBTC per 1TH/s per day and a cost of 0.25 BTC per 1TH/s so expect to break-even after approximately 670 days.

X11: You can expect payouts of 0.027mBTC per 1MH/s per day and a cost of 13.6mBTC per 1MH/s therefore expect to break-even after approximately 500 days.

Example 2

Profitability of a $30 investment in each of Genesis Mining’s contracts:

Bitcoin(when price was $15,650)

168 GH/s, Open-Ended

Optimistic:$1.92 per week, $200 after 2 years

Skeptical:$0.68 per week, $71 after 2 years

Dash(when price was $700)

5 MH/s, 2 year contract

Optimistic:$0.01 per week, $1 after 2 years

Skeptical:$0.00 per week, $0 after 2 years

Ethereum(when price was $455)

1 MH/s, 2 year contract

Optimistic:$0.42 per week, $44 after 2 years

Skeptical:$0.17 per week, $18 after 2 years

Litecoin(when price was $150)

4 MH/s, 2 year contract

Optimistic:$0.31 per week, $32 after 2 years

Skeptical:$0.16 per week, $17 after 2 years

Monero(when price was $240)

36 H/s, 2 year contract

Optimistic:$0.59 per week, $62 after 2 years

Skeptical:$0.25 per week, $26 after 2 years

ZCash(when price was $310)

16 H/s, 2 year contract

Optimistic:$0.56 per week, $58 after 2 years

Skeptical:$0.23 per week, $24 after 2 years

Buying And Payment

You can buy hashpower through multiple purchasing options. The purchasing option includes Credit Card, Bitcoin, Bitcoin Cash, Litecoin, Dash, and Dogecoin. The Credit Card option is only available for USD.

Genesis mining payout time sets to each day, meaning everyday’s mined assets are delivered regularly. When one’s profile mines a minimum amount of Cryptocurrency, the mined assets will be sent to the desired wallet instantly.

According to Genesis Mining website, the current minimum payout rates are

• BTC 0.005 (500 000 satoshi)
• DASH 0.001
• ETH 0.075
• LTC 0.002
• XMR 0.4
• ZEC 0.001

Pros And Cons Of Genesis Mining

Cryptocurrencies open the door of new methods of gaining money. Most altcoins are not tied to any country or region nor it is isolated. Everybody can start the mining career from all over the world even without leaving home. Take care of your investments and pay attention on the service you choose to start your mining way.