Genesis Mining is one of the best cloud mining companies in existence. They offer a variety of coins to mine whilst providing an easy to use and secure platform and good support. Whilst being a good choice, it is not profitable as one might think and you should do your due diligence before undertaking any long term contract.
Ease Of Use
Genesis is one of the oldest, largest, best-funded, most-respected, best-known, and most impressive cryptocurrency cloud-mining organizations. It is also one of the few miners to actively market its services to the masses.
A cloud miner is a company that owns large, centralized banks of computers that are dedicated only to harvesting or “mining” altcoins from the blockchain. Customers pay the company to mine and get “paid” in altcoins.
Many people use commercial cloud miners because it spares them the expense and hassle of setting up their own mining operation. To mine, you will probably have to buy a special computer called a mining rig, set up a dedicated internet connection, and run up a huge electric bill.
Mining rigs use vast amounts of power to harvest cryptocurrency, which often makes the cost prohibitive for average people. Rigs can also be very loud and take up a lot of space. You will need to live in a house; or rent a large space somewhere, in order to set up a mining operation. Mining also takes a lot of time, which makes it difficult for real people with jobs, families, or businesses to take care of.
Inside Genesis Mining
Genesis Mining has become one of the most respected miners because of its’ large network of mining farms –facilities that contain hundreds or thousands of mining rigs. The farms are part of a massive decentralized platform that is designed to prevent downtime and ensure 24-hour mining.
Genesis will not reveal the full extent of its operations, but it is very transparent about some of its facilities. These include the Enigma Ethereum Mine in Iceland; the world’s largest Ethereummining farm, an unrevealed number of Bitcoin-mining facilities, and at least one DASH Mining facility.
The farms are located in Iceland because that island nation in the North Atlantic has some of the world’s cheapest electricity. Iceland is also one of the safest, most secure, and most peaceful places in the world. It is one of the few countries that has never been invaded, bombed, or occupied by an enemy power.
Genesis has developed a wide variety of proprietary cryptocurrency-mining technology including Genesis Hive. Hive is a management application for altcoin mining that anybody can use.
What is Genesis Mining?
Genesis Mining is a privately-held company formed in 2013. Its head office is in Hong Kong; a semi-independent region in China, but it has operations in a number of different countries.
Genesis is a highly-professional organization dedicated to developing better mining technologies and making mining services available to everyone. To that end, it has built a large-scale multi-algorithm cloud mining service and a large network of mining farms.
Genesis is known for a high level of professionalism and customer service, and ease of use. Unlike some miners, it operates as a regular commercial business with a high-level of transparency, fast payouts, and regular promotions.
Much of Genesis’s success has been on its’ willingness to look beyond Bitcoin and offer a number of widely used altcoins. Even though most of Genesis’s money is made from Bitcoin, it focuses research, development, and expansion efforts on Ethereum.
3% Off On DASH, Ethereum, Bitcoin, Litecoin, Monero and Zcash Mining Contracts At Genesis Mining!
Is Genesis Mining a Scam?
If you type the name Genesis Mining into Google headlines that say things like “Genesis Mining Scam” will pop up. Such advertisements and word of mouth have convinced some people that Genesis is a scam.
Genesis is not a scam because it offers a high level of transparency. The company reveals its physicals, posts the names and photographs of its management team online, and even makes videos of some of its mining operations available.
More importantly, Genesis offers simple pricing and posts the costs of its services online for everybody to see. If its services are not available; Genesis will tell you, it often mentions that plans (blocks of cryptocurrency) are sold out at its website.
This raises the question why do so many people think Genesis is a scam? The most likely explanation is that those individuals do not understand how the market and cryptocurrencies work. They thought that they would get rich quick by buying altcoins and did not.
Instead, of accepting that they were wrong, those people blame the miner. It is possible to make money through cloud mining; but as if with most activities turning a profit requires a lot of time, research, investment, hard work, and patience.
The people who claim companies like Genesis are a scam, are the same ones think the stock market is “rigged.” Instead, of doing the work and waiting, they want instant gratification – which the market cannot provide.
Successful cloud mining, like any other investment, will require patience, research, and a willingness to take risks and lose money. If you hate to take risks you should not be cloud mining.
The Benefits of Genesis Mining
Genesis offers some advantages that most miners lack. These include:
• An easy to use website and simple shopping for mining plans.
• Mining of six popular cryptocurrencies; DASH, Ethereum, Bitcoin, Litecoin, Monero, and Zcash.
• Low-cost small mining plans for beginners. The starter plan for Ethereum starts at $29.99.
• No maintenance fees.
• Offers the ability to mine more than one cryptocurrency at once so you can diversify your investment.
• Accepts MasterCard and Visa payments. That means you will be able to use your debit or credit card to pay for mining services.
• Daily payouts available so you can get money when you need or want it.
• The ability to create your own mining plan is available.
• Genesis will tell you if your plans or mining capabilities are not available.
• Online customer service is available. Note it is not clear how fast Genesis responds to queries.
• They do everything for you. You will not have to invest a lot of time mining or learning about cryptocurrency. Instead you can set up a mining plan in a few seconds and forget about it until you harvest the coins.
• Unlike some miners Genesis will work with U.S. customers.
Some Drawbacks to Genesis Mining
There are some drawbacks to Genesis; many people dislike the lack of control. There are also many complaints about high-fees and lack of high profits from Genesis online.
Genesis’s high-profile, large system, and huge volume of business make a large and inviting target for criminals. It is big enough to attract the most sophisticated cyber crooks that might have the resources and expertise to crack the security.
Genesis Mining would be best for people just starting mining and experienced individuals that lack the time or resources for full time mining. It would also be the best cloud-mining company for a person with a full-time job or business or a busy family life. Therefore, Genesis is the best cloud-mining solution for real people in the real world.