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Genesis Mining Review, Rating & Basic Information

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About Genesis-mining.com

Genesis mining was founded in 2013 an is one of the oldest Bitcoin companies around. It’s definitely one of the most well known companies when it comes to cloud mining. Company got to know each other by using the same platform for buying and selling Bitcoins. As Genesis Mining cryptocurrency mining company and its user base grew, new mining farms were built up and several additional people hired, specifically programmers and engineers.

The current members of our bitcoin mining team come from different scientific disciplines, but Company common faith in cryptocurrencies has brought us together. Genesis-mining.com are all strong believers in the future of digital currencies and Genesis Mining love being part of this growing community!

Genesis Mining has a strong quantitative background. Both of the founders have professional education in a mathematical field. Marco Streng current CEO of Genesis Mining is an early bitcoin investor, has been studied as a mathematician. The other founder of the company is Dr Marco Krohn  is a mathematical physicist and a quant. He is the CFO of Genesis Mining. Both of the founders and the rest of the staff is a frequent presenter at various bitcoin conferences and they even sponsor blockchain events.

One of the things that have contributed to the success of the site is knowledge and experience. The company always has a plethora of programmers and engineers with which it can boast with. Many hardware developers also come to them for partnership and that has always helped it to remain in business even when times are hard.


Genesis Mining offers three types of algorithm for mining cryptocurrencies: SHA256, X11 and Ethereum protocols. Due to their special feature – the Advance Autotrader – even if a coin is mined with X11 or Ethereum algorithm, the payout can still be performed in bitcoin. Due to the autotrader, always the most profitable algorithm is used to mine the coins and then automatically exchanged to bitcoin.

The cloud mining company offers a 100% uptime guarantee that means even if a miner crashes, the relevant mining pool compensates the client  fully for the hashpower loss, so no mining time is lost.

Genesis-mining.com 3% Discount Promo Code: MageHJ


How does Genesis Cloud Mining work?

The idea of cloud mining is very simple. Instead of spending thousands of dollars on Bitcoin mining hardware, you can pay someone to lease their hardware and keep the profits to yourself. The company that rents out the miners takes care of the maintenance and all of the hassle of setting them up.

However, you are required to pay a fee for their service but we’ll get to that in a minute. To begin with, I wanted to determine what’s the difference in the ROI (Return Over Investment) between cloud mining and “normal” Bitcoin mining.


How To Join Genesis Cloud Mining 

Register with Genesis Mining

In your web browser, visit https://www.genesis-mining.com. Click Sign Up at the top-right. Enter your email address and password, then click Sign up at the Bottom. You’ll see a notification saying your account has been created.

Click Start Mining Now. Scroll down to find an ETH Mining contract. Currently these last for two years, so this should say ‘2 years Ether Mining’. Use the slider underneath this to determine the amount of hash power you want to buy (e.g. 1 MH/s). The price for buying this amount of hash power is displayed to the right.

Choose payment method

Genesis accepts a number of payment methods for Ethereum mining. If you have a USD credit card, you can use this, although there’s a fee for processing amounts under $100 (around £75, AU$130). The easiest method is to use Bitcoin to purchase the hash power you need.

Once you’ve selected BTC as your payment method click Continue. Take a look at the Order Specification to double-check everything is in order. Next, click View Agreement, then Agree on Terms to accept the mining conditions. Finally click Confirm Order.

The mining rigs run 24 hours a day, so the mining day is starting from 0:00 UTC and ending at 23:59:59 UTC. 8 hours after the mining day the payout report is published on Genesis Mining platform after their calculation and checks. The payouts are received daily automatically, the first payout is sent within 48 hours after the contract started. Credit card payouts are withheld for a month for security measures to protect the company from credit card charge backs, but after that the contracts are paid out daily as well, in the meantime clients can follow accumulated earnings on the platform.


Genesis Mining Location

Typically, Genesis mining will mine for you with their state of the art mining setup. For maximum efficiency the servers are located in Iceland for economical electricity charges and also for colder weather. Their service can be used by experts as well as newbies. Once registered, you don’t need to worry about anything. Regularly, all you do is pay their subscription fee and enjoy their service. They accept payments through Credit Cards and other popular Cryptocurrencies. There are no additional or hidden charges and they transfer your mined coins daily into your account.


Mining Starting Date and Prices

The mining start for this new pre-sale will be on February the 28th 2018.

Prices have been increasing due to different reasons. First, there is an increasing demand in the services that Genesis Mining offers. Second, hardware component manufacturers have been increasing their prices significantly because of higher demand. Third, as the demand can’t be covered by manufacturers, prices tend to increase because of the lack of equipment.

The company is doing the best in order to deliver the best possible prices. In addition to it, is working to keep the time of deployment as low as possible. Contracts stay open-ended with a maintenance fee of $0.00028 per GH per day.

Genesis Mining offers different cryptocurrency mining. Bitcoin, Dash, Litecoin, Monero and Zcash.

Bitcoin Mining Prices

Gold – Starter 1,000 GH/s it costs $179. It has a 4.89/5 rating based on 14485 reviews.

Platinum – Best Buy 5,000 GH/s it costs $845. It has a 4.85/5 rating based on 82 reviews.

Diamond – Max Profit 25,000 GH/s it costs $3975. It has a 4.89/5 rating based on 27 reviews.

There is also a Custom Plan where the user selects the desired amount of TH/s. For example, 5 TH/s cost $845.

The contract time is variable and determined by three factors: the mining difficulty, the Bitcoin vs USD exchange rates and the maintenance fee. While the mining difficulty and the Bitcoin price can’t be controlled, mining technology is always kept in the best possible level running at maximum capability for the users.

Dash Mining Prices

Gemini – Starter 5 MH/s it costs $30. It has 4.85/5 rating based on 639 reviews.

Ferox – Best Buy 100 MH/s it costs $500. It has 4.86/5 rating based on 1318 reviews.

Gravitation – Max Profit 500 MH/s it costs $2250. It has 4.84/5 rating based on 166 reviews.

There is also a Custom Plan where the user selects the desired amount of MH/s.

The contract time lasts 24 months and there is no maintenance fee applied for the whole contract time.

Ethereum Mining Prices

Small – Starter 1 MH/s it costs $29.99. It has 4.82/5 rating based on 2324 reviews.

Medium – Best Buy 30 MH/s it costs $869. It has 4.83/5 rating based on 6381 reviews.

Large – Max Profit 100 MH/s it costs $2799. It has 4.86/5 rating based on 1255 reviews.

There is also a Custom Plan where the user selects the desired amount of MH/s.

There are no maintenance fees applied for the whole contract time. The Ethereum Mining plan will run for a maximum of 24 months. Ethereum should switch to proof-of-stake before the end of the term. Genesis Mining will mine the most profitable coin with that hardware for the users.

Litecoin Mining Prices

Gold – Starter 2 MH/s it costs $28. It has 4.78/5 rating based on 73 reviews.

Platinum – Best Buy 50 MH/s it costs $650. It has 4.84/5 rating based on 64 reviews.

Diamond – Max Profit 200 MH/s it costs $2400. It has 4.87/5 rating based on 15 reviews.

There is also a Custom Plan where the user selects the desired amount of MH/s.

The contract time is 24 months and there is no maintenance fee applied for the whole contract time.

Monero Mining Price

Blaine – Starter 60 H/s it costs $49.99. It has 4.82/5 rating based on 877 reviews.

Dynamo – Best Buy 1000 H/s it costs $819. It has 4.82/5 rating based on 1329 reviews.

Houdini – Max Profit 3000 H/s it costs $2399. It has 4.86/5 rating based on 149 reviews.

There is also a Custom Plan where the user selects the desired amount of H/s. For example, 500 H/s cost $416.50.

The contract time is 24 months and there is no maintenance fee applied for the whole contract time.

Zcash Mining Price

Starter – Starter 25 H/s it costs $47.99. It has 4.85/5 rating based on 283 reviews.

Advanced – Best Buy 250 H/s it costs $459. It has 4.83/5 rating based on 499 reviews.

Professional – Max Profit 2500 H/s it costs $4399. It has 4.87/5 rating based on 119 reviews.

There is also a Custom Plan where the user selects the desired amount of H/s. For example, 250 H/s cost $459.

The contract time is 24 months and there is no maintenance fee applied for the whole contract time.


Genesis Mining Payouts

To output each type of cryptocurrency, do not forget to specify the corresponding purse in the menu “My account – Settings – Purses”.

The withdrawal of funds is made directly to the specified wallet automatically. This is a big plus, as there is no need to waste time on putting coins on payment and waiting for confirmation of withdrawal.

Payments of earned coins are generated every day but are credited to the client’s wallet after the minimum amount for payment is accumulated. For example, for Bitcoin it is 0.005 BTC. Thanks to this you will avoid unnecessary expenditure on paying commissions for withdrawing small sums to purses.


Fees and Pricing Schedule

Genesis Mining promises users to rent the latest technology for the cheapest possible price.

The fee model consist of three level plans the clients can choose from. The starter plan is available from 30 USD for 200GH/s hashpower. The medium package is charged at 350 USD for 2500 GH/s and the premium plan costs 1950 USD for 15000GH/s mining power.

The X11 algorithm based contracts are charged as per below:

  • 30 USD for 5MH/s
  • 500 USD for 100MH/s
  • 2250USD for 500MH/s

The litecoin cloud mining package costs as per below

  • 28 USD for 2MH/s
  • 650 USD for 50MH/s
  • 2400 USD for 200MH/s

Genesis Mining also offers custom plans where the price is pro rata decreasing depending on the mining capacity site. Clients can rent up to 200TH/s hashpower for bitcoin mining (for 26 000 USD) and 5000MH/s hashpower for litecoin mining (for 60 000 USD).


The bitcoin cloud mining contracts are all signed for a lifetime access, but have a maintenance fee. The litecoin, zcash and ethereum contracts are for fixed term, for 2 years but no maintenance fee is charged. They only charge maintenance fee on SHA256 contracts based on GH/s to cover the maintenance cost of the mining rigs. The maintenance fee of 0.00079 USD per GH/s is deducted from the daily mining output. X11 and Ethereum contracts does not have that fee.

The cloud mining services can be paid with VISA or Mastercard but they charges a fee for orders below 100 USD. They accept USD and EUR bank wire transfers and naturally cryptocurrencies, such as Bitcoin, Litecoin, Dogecoin and Dash.


Why should you choose Genesis Mining?

 Ease of use

The first and most obvious benefit of Genesis Mining is the ease of use. As already mentioned, there is nothing else you need to do to obtain cryptocurrencies, except to make and fund your account and choose a mining plan. This is like a dream come true, since you will enjoy the benefits of cryptocurrencies, without actually wrestling with hardware assembly and maintenance at your home.
Moreover, making an account is simple and fast. Also, the interface is well designed, allowing you to promptly find the segment you need. Don’t worry if you are a complete beginner because their website is really easy to use.

Options

With three mining plans to choose from, at reasonable prices, you have a few options to choose what you need and want. Add to that the possibility of earning various coins and credit card payments and you can see why Genesis Mining is a number one cloud mining service. Thanks to all this, this company is ideal for both regular miners and big investors.

Safe

The problem with mining services is that most of them aren’t legit. Meaning, they say that they use your money for mining, but they lie, which clearly leads to wasting your money. However, this company is a really safe option, counting about 300,000 users. It really does what it is supposed to, thus can be trusted to.

Customer service

When it comes to customer service, Genesis Mining has really got your back. Their customer service is not only patient but they are ready to help you solve your problem in a short time. You can either call them or send them an email. Also, there is a FAQ section on their website that has pretty much all the info someone needs to find out about this company and mining work, so maybe you won’t even need to call support. Speaking of that, let’s take a look at some of the most frequently asked questions.


Benefits Of Genesis Mining

Mine Bitcoins and several Altcoins

Apart from bitcoins, this Genesis Mining review also indicates that you can also mine altcoins. The altcoins available in Genesis Mining include Litecoin, Dogecoin and others. We discovered that you can mine the different cryptocurrencies at once. For instance, you can start mining bitcoin, Ethereum and Monero immediately after creating your Genesis-mining.com account. This tells you why almost every Genesis-mining.com review you have come across speaks volumes about this mining company. Some Genesis mining review written in the past included Dash, Litecoin, and Zcash as some of the other cryptocurrencies offered by Genesis-mining.com, but it appears that the packages are presently out of stock. The company will probably resume its activities on these altcoins in the future.

Trustworthiness and Profitability

Genesis Mining is the largest cloud mining company in the world. It is also registered with SEC which makes it a legal and trustworthy entity. When it comes to profitability it is indeed one of the most profitable mining farms in the market. Plus, it supports mining of almost all the major Cryptocurrencies.

Additional earnings by involving new users

You’ve got possibility to enlarge your power by involving new partners to the project. A new user has got a 3% discount for tariffs. In your turn the reward is the enlargement of powers. The increase depends on your rang in the system.

If it is the first level the profit is 2, 5 %. For instance, plus 5 GH/s to your 200GH/s. To enter new level new users are to pay 100 dollars, third level costs 500 dollars. The last 100 days are taken in consideration, if referrals spend less, the rang will be lower.

There are no limits for new users to be involved. You can leave your promo code or link on web sites, blogs and social networks, e-mail messages, comments and so on. Facebook and Twitter are recommended to involve new referrals.

Credit Card Payments

Genesis-mining.com accepts VISA and Master Card payments. Orders above 50 USD don’t attract any fee. Viral Alert wouldn’t recommend this for you because it will take up to 32 days to get the first profit. Genesis-mining.comhas this in its Terms of Contract because it wants to curb credit card fraud.

Cryptocurrency Payments

Use Bitcoin, Litecoin, Dogecoin or Dash anyhow you want to. You can pay in one cryptocurrency and auto trade it for a different cryptocurrency. That is the beauty of choosing Genesis-mining.com.

Lifetime Contract

The idea that it is a lifetime contract also makes it very lucrative. Just one investment and you can earn profits for life. For me, this is a lifetime security. Besides, with values and prices increasing every day, you can be sure of a very good future using Genesis Mining app.

Freedom and Flexibility

This freedom lies in your ability to trade between several coins and currencies and make a profit from them all without complications using Genesis Mining review software. You can easily allocate hash power to different currencies and feel safer knowing that your income will flow in from multiple streams.


Important questions and answers about Genesis Mining

How long are the contract terms?

In Bitcoin Mining, Genesis Mining (Link from the editor: www.genesis-mining.com )sells so-called lifetime contracts. These contracts continue mining as long as it is profitable for the company to produce the currency.

For most older coins in GPU mining, the contract terms are usually limited to two years. However, always check the terms and conditions associated with any contract before signing it.

Can Genesis Mining terminate contracts early?

The simple answer is yes. The clause is included as part of the Genesis Mining Genesis Mining (Link from the editor: www.genesis-mining.com ) Genesis Mining is one of the largest cloud mining providers on the planet.

Who is behind Genesis Mining?

The company was founded in 2013 by Jakov Dolic and Marco Streng. Initially, their aim was of setting up their own mining plant. After a very short time, the founders realized an enormous demand from end customers and larger investors.

There is hardly a provider out there on the market with more reputation and a higher level of trust by consumers. Over the past few weeks, the company has been showcasing its structure and opening up to the media more. Currently, Genesis Mining Experience is building one of the largest mining facilities in China.

What do I need to participate?

To start at Genesis Mining, you only need your own wallet. On our site, we have prepared some recommendations for different wallet types.

You enter this wallet at Genesis Mining (Link from the editor: www.genesis-mining.com ) in the back office, buy your required hashrate and you’re done. Depending on the mining contract, the payment will be made daily, or if a minimum amount is reached on your personal wallet. You can also buy from this vendor for values of $100 or less.

Is there a coupon code?

You can find the coupon code on this page. With our coupon codes, you will receive 3% directly applied to your order. It is best to copy the coupon code directly into a text file and save this file on your desktop. You can also use this code for every future order, not just your first one.

Why Am I Not Getting Payouts?

When you order via debit/credit card, your payouts will be held for a 30+2 days as stated in the Terms of the Contract. Genesis does this because of fraud and security reasons. Once the month has passed, the full amount will be released to your wallet, and from then on you will receive a daily payout. In the meantime, you can see your accumulated earnings in My Account -> My Orders, under “My pending balance of payouts”.

Does Genesis Mining Website work? Best ROI ? 

Does Genesis Mining Work? how does Genesis Mining work? Does it generate good ROI? These are the question that will pop up in your mind now. I would like to state categorically that Genesis mining WORKS. It is actually a reference point for other mining companies. It does what it says it does; help you trade in cryptocurrencies. I am also a user of the Genesis Mining review platform. I am on the X11 contract and everything goes as planned.

Although, the profits actually come out slow, but I have come to understand that when it has to do with cryptocurrencies, two things actually determine profit; the coin exchange rate and the mining difficulty. There is no way you can control the outcome of a trade. You just have to be able to predict based on trends.

Is Genesis Mining Platform a Scam?

Genesis Mining system is NOT a scam. It is a genuine cloud mining company that helps you mine your invested currencies as you wait for profits to begin to come in. This genesis mining review has been able to prove to you with genuine facts that this system is legit and not a scam. The founders of the system are real people, they have real staff and are recognized by reputable media sources as credible entrepreneurs. In fact, according to Marco Strength, their primary aim for setting up is to make the world a better place.

Furthermore, there are real and genuine testimonies by some users of the platform, both on and off the official website. Even several individuals I have spoken to about the system all had positive things to say about it, except for slow profit. Another important element that proves that Genesis Mining is NOT a scam is the abundance of positive Genesis Mining reviews on the Internet. All the expert Genesis Mining reviews I have read have revealed some of the things I have pointed out here.


Calculation examples profitability of Genesis Mining

Profitability depends on a number of factors, such as the current prices and the difficulty of finding blocks. The calculation examples below are calculated on 12-08-2017 and are therefore based on the difficulty and prices of that moment. In the future the difficulty will increase and the price of Bitcoin fluctuates very strongly.

Contract Hashpower Profit Fairy ROI
Bitcoin
Indefinite
Hashpower: 2.5 TH / s
Cost: $ 349
-3% discount: $ 339
Per day: $ 1.87
Per week: $ 13.12
Per month: $ 56.24
Per year: $ 684.30
Per day: $ 0.73
Per week: $ 5.10
Per month: $ 21.87
Per year: $ 266.11
 180.82 days
Bitcoin
Indefinite
Hashpower: 7.5 TH / s
Cost: $ 1050
-3% discount: $ 1019
Per day: $ 5.62
Per week: $ 39.37
Per month: $ 168.73
Per year: $ 2,052.89
Per day: $ 2.19
Per week: $ 15.31
Per month: $ 65.62
Per year: $ 798.34
 181.18 days
Bitcoin
Indefinite
Hashpower: 20 TH / s
Cost: $ 2600
-3% discount: $ 2522
Per day: $ 15.00
Per week: $ 104.99
Per month: $ 449.95
Per year: $ 5,474.36
Per day: $ 5.83
Per week: $ 40.83
Per month: $ 174.98
Per year: $ 2,128.92
 168.15 days
Ethereum
Biennial
Hashpower: 15 MH / s
Cost: $ 450
-3% discount: $ 437
Per day: $ 1.20
Per week: $ 8.41
Per month: $ 36.05
Per year: $ 438.60
Per year: $ 0  374.48 days
 $ 877 total
 2.76 ETH total
Ethereum
Biennial
Hashpower: 90 MH / s
Cost: $ 2610
-3% discount: $ 2532
Per day: $ 7.21
Per week: $ 50.47
Per month: $ 216.30
Per year: $ 2,631.62
Per year: $ 0  351.18 days
 $ 5262 total
 16.56 ETH total

Pros and Cons

Pros of Genesis-mining

  • The service provides real physical power equipment;
  • Production is available not only for Bitcoin, but also for other promising altcoins;
  • You can buy a hash rate not only for the crypto currency. Payment is available by debit and credit cards, or by bank transfer;
  • Operative and friendly technical support;
  • Creation of a personal altcoins` portfolio is available.

Cons of the company

Genesis Mining company don`t provide exchange for sale of the hashrates.

In conclusion, we can say that this platform is ideal for investors who do not want quick profits, as well as those who do not want to tinker with the choice of pool, installation of hardware and software. Despite the fact, that basically the Genesis Mining reviews are positive, this platform has both advantages and disadvantages.

 


Address & Contact Information

Genesis Mining Ltd.Chinachem Century Tower, 31/F
178 Gloucester Road, Wanchai
Hong Kong
Genesis Mining Iceland ehf.Registered address:
Borgartuni 27
105 Reykjavik
Iceland

 

 

 

 


This article is writing on 13 April,2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: support@coinworldstory.com Or Whatsapp Us- 918077121282

Also Read – Hashflare Mining Review 

Disclaimer:

Not all the websites Which listed in Top List are 100% safe to use or investment. We do not promote any of those. Due diligence is your own responsibility. You should never make an investment into any online program with money you aren’t prepared to lose. Make sure to research about the website.So Please take care of your investments. and be in the safety site and avoid much losing online.

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