genesis mining

Genesis Mining Review – A Detailed Review

Cloud Mining like Genesis(To get 3% discount enter this code: G8aCD2) is a hidden treasure, that many are yet to uncover and this could be attributed to uninspiring news emanating from its operations. Cloud Mining started late 2013 with few companies in operation. Only few were able to survive the high cost of electricity, difficult network and expensive mining hardware. Today, many companies have found a better way to deal with the cut-throat business climate. The ideal way, many mining companies are deploying now, is to set-up a mining farm in areas where electricity tariff is very low to maximize profit. Cloud mining ensures you mine remotely without owning an expensive mining hardware.

 

Table of Contents

  1. About Genesis Mining
  2. How does it Work?
  3. Steps to be a Part of the GM experience
  4. Benefits for being part of the GM experience
  5. LOGOS Fund
  6. Pricing
  7. Profitability
  8. Genesis Hive
  9. Mining Farms
  10. Enigma Ethereum Mine
  11. Bitcoin Mining Facility
  12. Dash Mining Facility
  13. Comparison of Genesis Mining and other Cloud Miners
  14. I. Hashing24
  15. II. Hashflare
  16. III. Hashnest
  17. IV. Eobot

 

  1. About Genesis Mining

If you’re looking for a profitable investment option in the cryptocurrency market, then consider Genesis Mining. They’re a household name in the cloud mining business. Genesis Mining was founded in 2013 by three gentlemen of like minds who met by providence via trading and purchasing Bitcoin. It has been a success story since the establishment, having grown in leaps and bounds to remain the number one in the industry. Genesis Mining has many programmers and engineers rendering services to ensure 24/7 quality service delivery to its numerous customers. The COE is Marco Andreas Streng,- an astute businessman ,the co-founder of Svartsengi geothermal power, who has used his wealth of experience to take Genesis Mining(To get 3% discount enter this code: G8aCD2) to an enviable height.

  1. How does it Work?

Genesis Mining is super simple; it sets-up mining rigs, employing a remote data center with sharing data processing power. All of the mining servers are assembled in a central mining room. Clients do not need to buy any expensive mining hardware, since Genesis Mining has provided all the infrastructures you need. The client is only needed to sign-up, buy the required Hashpower or mining shares and get your first payout the next day. Mining is automated and supported by all devices (IOS, Android, Windows, desktops, Laptops and …). One of the reasons why many miners consider Genesis Mining is that, they provide the most efficient, and reliable mining rigs to invest by buying mining Hashpower.

 

  1. Steps to be a Part of the Genesis Mining experience

With Genesis Mining platform, users can mine BTC, and other altcoins such as ETHER, LTC, DOGE, DASH etc., giving hash power to each coin.

These are the steps to be part of the Genesis Mining experience:

  • The first step is to create an account at Genesis Mining(To get 3% discount enter this code: G8aCD2) site. The account creation is free and can be funded whenever you want to invest.
  • Fund your account by choosing any payment platform- Credit Card, Bitcoin, PayPal etc.
  • Invest by buying mining power which shows you available mining plan package to invest. You’ll see all the specifications of the contract, maintenance costs and the amount of BTC to be paid. To get an account visit Genesis(To get 3% discount enter this code: G8aCD2)
  1. Benefits for being part of the GM experience

The benefits are many, notably these ones stated below:

  • Mining/contracts are available for ten alternative cryptocurrencies via 6 major mining algorithms.
  • The name “Genesis Mining” is synonymous with “transparency”.
  • Genesis Mining has unbeatable record of 99% customer’s satisfaction.
  • Genesis Mining is registered with the SEC and other relevant agencies.
  • Genesis Mining is a reputable Cloud Mining Service Provider having done over 100 million transactions since inception.
  1. LOGOS Fund

The setting up of the LOGOS Fund has paved way for more professional approach to large investment portfolios. This initiative is aimed at improving the brand image of Genesis Mining. GM took it away from the culture of users starting their own mining by using different hardware after inquiries to high net worth investment partnership.

  1. Pricing

Genesis Mining provides enterprise-level solution for cloud mining with 6 cryptocurrencies (Bitcoin, Dash, Ethereum, Litecoin and Monero, Zcash) and 1000 GH Hashrate. Every cryptocurrency listed, has several mining plans including proposed pre-set options and one custom solution where users make a choice according to the Hashpower he/she needs. All plans require one-time payment for the entire investment duration. Please, refer to Genesis website(To get 3% discount enter this code: G8aCD2) for more details.

Let’s briefly look at different cryptocurrencies and their investment values:

Bitcoin –the most popular amongst the six cryptocurrencies, with trading flexibility with other digital currencies. It’s decentralized and uses an SHA-256 algorithm and ASIC software to make daily transactions secure. A fixed maintenance fee is being charged which is deducted from the daily payouts.

Dash – it provides fast secure online payments using an algorithm of X-11. This programming script enables simultaneous mining of other cryptocurrencies.

It has Auto-trading feature that enables mining of a profitable coin and instant trading of it at any given time. There’s no maintenance fee being charged for contracts on the daily payout.

Ethereum – It runs on smart contracts and uses an eth-hash algorithm that deals with issues such as censorship, fraud and third party interference. It auto-trades like Dash and Bitcoin and no maintenance fee being charged during contract time.

Litecoin –it’s notably known just like Bitcoin for its reliability, quick and efficient transactions especially short-term transactions. It uses ASIC software and the Scrypt algorithm to ensure faster and secure transactions. There’s no maintenance fee being charged for contracts on the daily payout.

Monero – it uses an algorithm of CryptoNight and ring signature to ensure personal identities stay privately. The algorithm ensures 4 factors- privacy, adaptability, decentralization and users’ choice. There’s no maintenance fee being charged for contracts on the daily payout.

Zcash – it uses software called ‘Equihash’ algorithm to ensure open-system transactions. It adopts auto-trading and a 2 years interval period contract with no maintenance fees.

Numerous coins can be earned on the contracts purchased using Genesis Mining platform. For example, purchasing SHA-256 contracts, one can mine coins such as Zetacoin, Dash, Bitcoin, Litecoin and Darkcoin. With the X11 contracts, you can mine Peercoin, Dogecoin, Namecoin, Startcoin, Litecoin and Dogecoin.

  1. Profitability

Cloud mining profitability depends on some key factors such as network difficulty, market prices of coins which tends to be volatile in some cases, electricity tariff and hash rate changes. These factors have forced cloud mining providers to seek alternatives in this “arms race” to remain profitable in business. For example, many service providers concentrated their mining activities to countries with low electricity tariffs such as Iceland, Georgia etc. Many cloud mining providers don’t charge maintenance fees when the price of Bitcoin (price indicator) tends to be very unstable.

Genesis mining adopts all these measures to switch your mining investment to a fly for all the coins in the catalogue. You get your daily payouts in your designated wallet

For SHA-256 contracts: a payouts of 0.37mBTC per 1TH/s with a cost of 0.25 BTC per 1TH/s, gives an estimated break-even at 650-670 days.

For X11 contracts: a payouts of 0.0027mBTC per 1MH/s with a cost of 13.6mBTC per 1MH/s, gives an estimated break-even of 500 days.

Genesis mining is unique in the industry; apart from providing all the necessary hardware; it provides flexibility in investments with options in hashpower purchase. The client can decide to split the total hashpower to different coins to maximize profits. Get an account at To get an account visitGenesis(To get 3% discount enter this code: G8aCD2) !

  1. Genesis Hive

Genesis Hive is a Business-to-Business software solution used in deploying, monitoring and managing a cryptocurrency mining farm. It’s automated to efficiently manage service’s mining back-end such as detecting miners, adding them to the system and reconfigure their hashpower, irrespective of their network infrastructure.

The system has been in existence since 2014 to deploy, monitor and manage the company’s rig efficiently. It’s has been built to a large capacity to manage large scale miners’ farm to meet up the present challenges.

Furthermore, miners are in for a treat, based on the updated version of the system that can carry-out cost efficient deployment, detailed operational monitoring and hyper-scale management.

  1. Mining Farms

Genesis Mining considers the locations and the operations around its mining farms sensitive, and does not disclose much information for security reasons. According to Genesis Mining, disclosing such information can lead to disruption of data information. The farms are located in areas of low electricity tariff in-other to serve its numerous clients more efficiently.

  1. Genesis Mining Enigma

Enigma is a mining facility, first built to mine Ethereum. Enigma supports smart contracts using Skrypt algorithm to mine. The upgraded is specifically designed for higher computational performance using hashing algorithms for different cryptocurrencies such as Dash, Monero, Zcash etc. The facility is powered by geothermal energy.

  1. Bitcoin Mining Facility

The updated Bitcoin mining hardware was designed to enhance efficiency of mining operations. This ensures easy handling, fast deployment and effective maintenance. Bitcoin has scaled-up massive innovations around its mining process.

  1. Dash Mining Facility

The Dash mining facility is built to utilize the X11 algorithm to mine Dash. The facility uses GPU (Graphic Processing Units) to process data as advancement to ASIC devices being used in the past.

  1. Comparison of Genesis Mining and other Cloud Miners

             Cryptocurrency mining is no longer a reserve for the elite and well established companies who can afford to buy expensive hardware and high electricity tariff. We have many other cloud mining companies apart from Genesis mining who have made it possible for individuals to mine without owning mining hardware.

Here are some of them:

13.I: Hashing24

   Hashing24 is a Bitcoin mining company founded in 2012 by David Martin, boasting of a team of experienced professionals. It has mining farms in United Kingdom, Ukraine and Thailand.

Hashing24 is a trusted partner of Bitfury Group, a well-known company, known all over the world for its innovations in the blockchain technology. The close partnership with Bitfury Group indicates the seriousness of Hashing24 in the mining industry.

Hashing24 has a demo version that assists users to learn how to mine profitably at no fees.

Hashing 24 provides its clients with an opportunity to purchase hash- power with different packages. For every100 GH/S, the user pays $68.5 with a service charge of $ 0.00033 per GH/s per day. There is also a one-off fee for purchasing hashing power.

13.II : Hashflare

HashFlare is a cloud mining provider, a subsidiary of Hashcoins that was founded in 2015. HashFlare is one of the largest providers of Hashpower for mining Bitcoin and some Altcoins. HashFlare provides SHA-256 and Skrypt algorithms that make mining efficient and cost effective.

Miners are allowed to connect to the pool of their choice and these help miners to find profitable combination. Profits are shared among all miners of HashFlare according to their respective Hashrate.

For the SHA-256 algorithm miner, the minimum Hashrate to purchase is 10 GH/s and the service charge fee is 0.0035 $ / 10 GH/s / 24h.The daily payout in BTC is automatic.

For the Scrypt algorithm miner, the minimum Hashrate to purchase is 1 MH/s and the service charge fee is 0.005 $ / 1 MH/s / 24h. The daily payout in BTC is automatic.

  1. III: HashNest

HashNest is a subsidiary of Bitmain and it was founded in 2013. It’s a cloud mining services provider that hosts multiple brands of miners, like Whatsminer M21S, M20S, Antiminer S17, S15, Z11 etc.

Miners can purchase hashpower from Antminer devices at 125 TH/s with a fixed service charge of $0.19 TH/day.

Another juicy feature of Hashnest is that customers can merchandize hashrates uninterruptedly on Hashnest market. A user can make a decent income without mining by buying and selling hashrates.

13.IV: Eobot

Eobot was founded in 2013, and it’s built on a SHA-256 10 algorithm for mining. The maintenance fee varies, for example, we have 83% for GHS 5.0 and 68% for GHS 6.0.

Eobot’s users benefit from Public Audit policies and Hacker Protection to ensure users’ account is secure at all times. Eobot mines and hashes Bitcoin or Altcoin chosen by the user. Mining updates are provided for every one-minute for a follow up on your earnings.

Most cloud mining companies seem to have huge red flags in-terms of not delivering on their promises or using an ineffective business model. Many investors have been scammed in the cloud mining business, and this created an impression that the industry is a Ponzi scheme.

Genesis Mining is using innovative ways to correct this impression, bridging the gap and making users to feel safe doing business with them. Try Genesis(To get 3% discount enter this code: G8aCD2) !!