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. Since Cloud Mining is provided as a service there is generally some cost and this can result in lower returns for the miner.
There are many cloud mining scams and also many legit mining sites, but the secret to identify the legit one from the scam one is the returns on investment that they give on your money, legit cloud mining give a return around 12 % to 15 % monthly, 120 % to 150 % yearly and also with the legit cloud mining, the investment contract end generally with 1 month .
But when you find Cloud mining with high return for example : 50 % to 70 % monthly, this programs are probably scams, invest always with cautions and make a lot of research before you invest into cloud mining .
Between this few legit mining sites, Gensis mining the leader of the cloud mining industry, one of the big facts that make this company legit, is that you can see their mining farms directly from on their website here .
Genesis mining is a cloud mining platform where you can buy mining power in order to mine different crypto currency like : Bitcoin, Ethereumn and monero …..etc .
You can also improve and grow your earnings and hashpower by inviting your friends to invest with this platform .
This platform is the leader of the cloud mining industry in the world, over 500000 investors have joined this platform since 2014 .
1-Description of the program :
1-1-who is behind genesis minig ? :
Genesis Mining was founded at the end of 2013. The founders of our world-class cryptocurrency company got to know each other by using the same platform for buying and selling Bitcoins. As our cryptocurrency mining company and its user base grew, new mining farms were built up and several additional people hired, specifically programmers and engineers.
The co founders of the company are Marco Streng , Mathematician and early Bitcoin investor, and Stefan Schindler, you can find more about this two persons the website of the site .
1-2- Where this company is located and registred ? :
Genesis Mining Ltd is located and registered exactly in Hong Kong at this address Chinachem Century Tower, 31/F178 Gloucester Road, Wanchai Hong Kong , and they own another office exactly at this address Genesis Mining Iceland ehf Borgartuni 27105 Reykjavik , Iceland , find more about the history of genesis mining on their website .
- 1-3-How Does Genesis mining work ?:
Genesis Mining is an online cloud-mining platform since 2014, it is a real mining company witch own huge mining farms in Iceland, where electricity is cheaper thanks to the geothermal and cold air required for the cooling of the machines.
This cloud mining site according to their website, is an easy and safe way to purchase hash power without having to deal with the complex hardware, software set up, or the need to own a crypto mining equipment at home to start earning money from the crypto industry .
Genesis Mining specializes in building the most efficient,Profitable, and advanced technology and reliable mining rigs that they offer to their clients for rent.
All you need to do is set up an account with the link below this article, with them to start mining.
After signing up, fund your account via Bitcoin, PayPal, credit card, or wire transfer, and then choose the mining plan that’s best for you .
The minimum investment that you will need to make to become a partner of this mining site is 50 euro.
- 1-4- The investments offers of genesis mining :
This platform site offers four cloud minig investment plans :
-Bitcoin mining contract : also called Sha256
The duration of the contract : Lifetime
For example : You buy a contract for 1000 USD, what means that you have buy a hash power of 7.5 TH/S, you will earn 0.0015 BTC everyday, 10 dollar daily with the actual price of Bitcoin, in one year you will make a total of 3650 USD
Note : genesis mining is real, but this is not meaning that they are profitable, because everyday the mining difficulty of the Blouckchaine network is growing, the revenue from mining become everyday less, for this reason I advice you to invest using dollar and not Crypto currency .
- Ethereum mining contract : also called Ethhash
The duration of the contract : 2 years
- Dash mining contract : also called dash
The duration of the contract : 2 years
- Monero mining contract also called X11
the duration of the contract : 2 years
For each of these investments offers you can choose your Hashpower »the power of mining » The higher it is, the more you will earn return on your initial investment .
- 1-5-What is the profitability of Genesis Mining ?
Of course it makes no sense buying contracts from Genesis Mining if it’s not profitable.
The factors that make a contract profitable or not are constantly changing. Each coin’s price, network difficulty, and hash rate change every day.
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.
It is also important to keep in mind that for lifetime contracts as long as they are profitable, a small maintenance fee is deducted.
Genesis Mining accepts the following methods of payment to deposit and to withdraw :
– Bank transfers
– credit card in USD / EUR
– cryptocurrencies: Bitcoin, litecoin .
1-6-What is the best investment plan for Genesis Mining ?
- 1-6-1 – Bitcoin mining contract : also called Sha256?
Bitcoin is a cryptocurrency and worldwide payment system.:3 It is the first decentralized digital currency, as the system works without a central bank or single administrator.
The network is peer-to-peer and transactions take place between users directly through the use of cryptography, without an intermediary.
These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies,products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment, Research produced by the University of Cambridge estimates that in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
Genesis was the first company to offer cloud mining contracts for Bitcoin since 2013n almost all their investors mine Bitcoin with genesis, and with the current price of Bitcoina lot of people made millions with this company .
The investments in this contract start from 50 euro or 40 USD, and there is no any limite for investments, but the cloud mining contracts are not aviable all the time, because there is a huge demand on this type of investment on genesis, thgis push genesis to build more minig firms in Iceland, Mongoli, and china to satisfy the demand on this type of contracts .
The minimum amount for payment on this contract is 0.002 BTC, the payment is made automatically to your Bitcoin wallet when your earnings reach this limit, you can also compound your earnings to get more hashpower to increase your earnings .
My own exprience :
I have invest 100 USD in a Bitcoin minig contract, that means that i have bu a toal hashpower of 7.5 TH/S , this investment was brining me a net profit of 0.0013 Btc everyday durrign the first 6 month, but the minig diffuclty increase sinc that time, that means that now i am earning 0.0009 BTC everyday, i ahve wait 4 years to recover my intial investment of 1000 USD .
The Bitcoin mining contracts are the most profitable investments with genesis mining, if we make a comparison between the price in genesis with others cloud mining service providers, we will find that genesis is the most cheaper and the most profitable investment for Bitcoin cloud mining contracts, but the others investments plans are not profitable with genesis .
added to that genesis is the only cloud mining platform that offer this contracts for a lifetime investment, this means that your investment will bring you passive income during for lifetime .
You can start mining Bitcoin with genesis here
- 1-6-2 – Ethereum mining contract : also called Ethhash :
Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality.It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a cryptocurrency token called « ether », which can be transferred between accounts and used to compensate participant nodes for computations performed « Gas », an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network .
My total haspower in the ethereum contract
My total investment in Ethreum contract
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale between July and August 2014.The system went live on 30 July 2015, with 11.9 million coins « premined » for the crowdsale. This accounts for approximately 13 percent of the total circulating supply.
Ethereum is the seond largest crypto currency after Bitcoin, the total capitalization of this crypto currency is now 66 BLN, the price of this crypto currency was only 5 USD in 2015, and now the price is 687 USD, now you understand the power of the crypto industry to create wealth and freedom, the others crypto currency that we see now are forked from Ethereum .
Genesis Minig was the first company in 2015 to offer ethereum cloud mining contracts for investors, but this contract are only for 2 years, they are not for lifetime like the bitcoin mining contracts .
But this contracts didn’t attract a lot of investors due to their low profitability, and also because they are only for 2 years .
Also because this company didn’t give a lot of interest for this crypto currency, because the demand is more higher on bitcoin contracts then Ethereum contracts .
There is others cloudmining service that offer profitable ethereum investment contract, i invite you to visit, the section of cloud mining in my log to discover them here
The investment in this plan start from 50 euro/ 60 USD, you earnings are paid directly to your ethereum wallet, but you need to reach the minimum withdraw limit, witch is 0.1 ETH, after your reach this limit, the payment will be made directly to your wallet .
My own exprience :
I invest 370 USD in this plan before 2 month ago, what means 1.6 Ethereum, approximately a hash power of 14.81 MH/S, this would give a net return of 0.005 ETH daily, if the mining difficulty don’t increase, but the mining difficulty is doubling by 2 times every 2 month, what means that my earnings will become less 2 times, in th last two month of my contract i will earn only 0.0005 Ether daily .
This means i will get only 0.7 ETH after 2 years .
But if i bought 1.6 ethereum with 370 USD before 2 month and i keep that inn my wallet, i would make now 1039 USD, my investment would become 3 times more higher .
If this contract was a lifetime contract, it will be profitable to invest in, but it is not the case
Ethereum mining contracts are not profitable with genesis mining, i don’t advice you to invest in this plan .
You can start mining Ethereum with genesis here
- 1-6-3 – Monero mining contract : also called X11 :
My total Hashpower in Monero contract
My total investment in Monero contract
Monero (XMR) is an open-source cryptocurrency created in April 2014 that focuses on privacy, decentralization, and scalability that runs on Windows, MacOS, Linux, Android, and FreeBSD. Monero uses a public ledger to record transactions while new units are created through a process called mining. Monero aims to improve on existing cryptocurrency design by obscuring sender, recipient and amount of every transaction made as well as making the mining process more egalitarian.
The focus on privacy has attracted illicit use by people interested in evading law enforcement.
The egalitarian mining process made it viable to distribute the mining effort opening new funding avenues for both legitimate online publishers and malicious hackers who covertly embed the mining code into websites and apps.
Monero is the 11 largest crypto currency capitalization, the total capitalization of this crypto currency is now 4 BLN, the price of this crypto currency was only 1 USD in 2015, and now the price is 287 USD .
Genesis Minig was the second company in 2016 after hashflare in 2015 to offer monero cloud mining contracts for investors, but this contract are only for 2 years, they are not for lifetime like the bitcoin mining contracts.
This investment contract didn’t attract a lot of investors due to it’s low profitability .
The monero mining contracts are only for 2 years, they are not a lifetime contract, also the earnings of your investments will reduce everday, because when you invest you are buying a product not an investment product, exactly you buy hashpower because you don’t own mining equipment at home, your earnings will reduce for the simple reason that the mining difficulty on the monero blouckchaine is increasing everyday, due to the expansion of the industry and the huge number of firms and indvuduals that mine this crypto currency .
The investment in this plan start from 50 euro/55 USD, the contract is for 2 years, the payments are made directly to your wallet but you need to reach the minimum withdraw witch is 0.4 XMR .
My own exprience :
I invest 142 USD of Monero mining contract, what means a total hashpower of 205.70 H/s, witch means 4 moenro before 2 month, with this investment i would have make a return of 0.0085 monero daily during 2 years, but it is not the case because the mining difficulty of Monero is increasing everyday, but if i have keep my investment of 142 USD in monero, i will be holding 4 XMR, and if i have bought them before 2 month at 48 USD, i would make 8 times my initial investment because the price of Monero now is 317 USD .
With this investment plan we can make the same conclusion of ethereum, it is not a profitable investment, because it is only for 2 years, but if it was a lifetime contract it will be more profitable , and this review show you also that only Bitcoin mining contract are profitable with genesis mining .
You can start mining Monero with genesis here
- 1-6-3 – Dash mining contract : also called Dash :
My hashpower with dash
My total investment with Dash
Dash (formerly known as Darkcoin and XCoin) is an open source peer-to-peer cryptocurrency that aims to be the most user-friendlyand most on-chain-scalable cryptocurrency in the world.
On top of Bitcoin’s feature set, it currently offers instant transactions (InstantSend),private transactions (PrivateSend) and operates a self-governing and self-funding model that enables the Dash network to pay individuals and businesses to perform work that adds value to the network Dash’s decentralized governance and budgeting system makes it a decentralized autonomous organization (DAO) .
Dash is the 8 largest crypto currency capitalization, the total capitalization of this crypto currency is now 7 BLN, the price of this crypto currency was only 5 USD in 2015, and now the price is 911 USD .
Genesis Minig was the first company to offer Dash cloud mining contracts for investors, but this contract are only for 2 years, they are not for lifetime like the bitcoin mining contracts.
This investment contract didn’t attract a lot of investors due to it’s low profitability, also the low knowledge of people about Dash at it’s uses, But I think that Dash mining contract will be more used in the future, because this crypto currency is building a strong community around this crypto currency .
The investments in this contract start from 50 USD/50 euro, the contract is only for 2 years, the payment are made directly to your wallet, but you have to reach the minimum withdraw witch is 0.1 Dash .
My own exprience :
I have invest only 82 USD in this contract to test it before 2 month, what means that i bought 0.6 Dash when the price of dash was 150 USD, what means a total hashpower of 15.53 MH/s , that hashpower would bring me 0.0014 Dah everyday but it is not the case, because the difficulty of mining dash is increasing everyday, so i will not be in profit at the end of the contract after 2 years, but if it was a life time contract, this investment will be profitable,
if i had hold this 0.6 Dash and i have not invest them in genesis mining i would have now exactly 320 USD what means 8 times my initial investment in dash .
For this mining contract of dash, the conclusion is that Dash mining contract is not profitable because the duration is only for 2 years, and if you hodl you dash in your wallet you will make more money .
You can start mining Dash with genesis here
- 1-6-5 – Genral conclusion about Genesis mining investments plans ?
Genesis mining is a legit mining company with real mining firms, but this don’t mean that they are profitable .
The only contract this is profitable with genesis mining is The bitcoin mining contract, because the contract is for lifetime, but the earnings are not fix, they will become less every day, because the mining contract is increasing everyday, but you will be in profit soon or later, the mining contracts for Ethereum, Monero and dash are not profitable , it will be batter to Buy this crypto currency and hold them in your wallet .
2- A video tutorial about the program :
You will earn commissions on all the investments of your affiliates
Genies mining offer 2.5 % on all the investments of your affiliate with 8 level of career with a lot of bonus .Also This cloud mining company offer a carrier plan , you can find more about how to achieve this carrier stage and witch are the bonus that you will earn on the official website of the site .
4-information about payment :
the payments are made every day day on your wallet, but you have to reach the minimum withdraw limit .
The minimum investment is 50 euro / 0.01 BTC
The minimum amount to withdraw is : 0.0023 BTC / 15 euro
this cloud mining platform accept :
5-Other information about the site :
- Alexa Ranking : 3694
- Language of the site : English
6-My review about the site :
The legit cloud mining sites are very few, if you are looking to invest into the mining crypto industry, genesis mining is the best option for you .
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