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on this website and get a discount of 3% on your Cloud Mining Contract at Genesis-Mining.com, one of the most trusted Bitcoin and Altcoin Mining Companies
Genesis Mining was founded in 2013, when people interested in crypto trading joined forces and formed the first mining farms, which gained popularity and new users especially during the marriage of digital money at the end of 2017. According to their own statements, specialists from various specialist areas are now in charge of the cloud mining service and are working together on the future of crypto currencies. The founders are both from Germany and are named Marco Streng and Dr. Marco Krohn.
How does Genesis Mining work?
On the website of the provider, you as a customer can buy different packages that offer Genesis Mining over two periods. For either two or five years (both options only at Bitcoin) you can mine various coins such as Bitcoin, Ethereum, Litecoin, Dash, Monero or Zcash more efficiently than at home. The only problem is that these packages are not available at all times. There may be some waiting time before seats become available again. You don’t need any of your own capacity for Genesis Mining. With the cloud mining approach, you buy only a part of the existing infrastructure, which allows you to start mining immediately. At home, you don’t have to operate any electricity or cooling devices, which would cause the prices of home mining to skyrocket.
How effective is Genesis Mining?
Two things point to the high efficiency of Genesis Mining. On the one hand the customer satisfaction is enormously high in the reviews and lies depending upon the respective product with over 4.8 out of 5 stars. Second, our own Genesis Mining experiences are positive after a year of testing. While at the beginning of 2017 there were no great advantages from Bitcoin Mining, the situation improved significantly with the upswing of the crypto currency. This makes it particularly clear that Genesis Mining’s efficiency in terms of Return of Investment (ROI) depends on the exchange rate development of the chosen currency, such as the ETH exchange rate. While at the beginning we expected the first ROI after 22 months, thanks to the rising exchange rate, it was already achieved after less than six months. Especially with the promising digital currencies of the future, an investment can be particularly worthwhile at the moment thanks to low exchange rates.
How much does Genesis Mining cost?
The costs for Genesis Mining can be divided into two subgroups. It all starts with the purchase of a package with the hash power of your desired digital currency. In the case of Bitcoin, there are price differences between two-year and five-year contracts. We will not go into the latter in detail for the sake of increased understanding. While “lifetime” contracts used to exist, they have now been abolished due to their inappropriateness. For example, if you want to buy a package for Ethereum, you have four different options to choose from:
- Small for beginners at ETH Mining: $525 – 25 MH/s performance
- Medium as an offer for advanced users: $1,500 – Power 75 MH/s
- Great for all professional users: $6,650 – Power 350 MH/s
- User defined for highest possible personalization: Open
The same principle applies to all other crypto currencies. The only differences are the prices and the service included in the package. The Litecoin Mining Starter Package is currently the cheapest option. This is already available for 28$. VISA and Mastercard are accepted for payments.
The second type of cost is the maintenance fee for the duration of the contract. In the case of Bitcoin, for example, this is $0.14 per TH/s per day. The starter package includes the mining with a performance of 1 TH/s. So you would pay a maintenance fee of $0.14 per day. There is no maintenance fee for Zcash, Monero and Litecoin.
Our Genesis Mining experiences are basically positive, because it is a serious provider who keeps his promise. He has the necessary infrastructure to cover the customer’s needs. Even if there are always bottlenecks here, customers only have to be patient until new places become available. Under normal circumstances the payment of the contract owners takes place daily. If there are problems, the company has always paid reliably up to now.
Genesis Mining is worthwhile itself due to various advantages opposite the Bitcoin Mining in the own four walls. Firstly, it is much easier and you do not need any previous knowledge to buy a package of your desired size. A disadvantage can be the long contract duration: Nothing works under two years. However, if your investment is successful, your money will be returned daily. If it works for you as in our test, you make a profit after half a year. If you buy a package for this price and use the Genesis Mining infrastructure, you also avoid high electricity costs for operation and cooling, noise and heat as well as possible downtime, which is contractually excluded by the service provider.