Published on November 1st, 2017 | by Ryan0
Simple Guide To Genesis Mining
Genesis mining is an Iceland based company that offers Bitcoin cloud mining contracts. Established in 2013, it is one of the oldest bitcoin mining companies around. Genesis is a reputable Bitcoin cloud mining company with a member base of over 300,000 members. Other companies don’t provide miners with the necessary software thus making it tougher to win the bitcoins. If you use other providers, you will find that you keep losing money.
Genesis Mining is a legit top cloud mining provider that provides all the software you need so that you can enjoy a high ROI on bitcoin mining. Besides, it has a pool of miners who are serious. It informs you on the estimated electric cost and shows you the net profit after minusing this cost.
If you want to purchase mining contracts from Genesis, the first step is to visit the official site and register for an account. After registering for an account, you will be redirected to the dashboard. In the mining allocation, you must choose BTC which stands for Bitcoins. In the payment system, you can select how you want to be paid such as credit card, and bitcoin. You will also have to connect your wallet to your account on Genesis.
Genesis Mining offers several contracts including Gold, Platinum, and Diamond. If you are a newbie, you can choose the 200 GigaHash Gold contracts that will cost around $30. If you feel that 200 GigaHash is not enough, you can choose the 2,500 Gigahash Platinum contracts that costs $350.
If you are a professional, you can choose the Diamond planthat offers 15,000 Gigahash and costs $1,950. All of the three plans are open ended plans. Genesis Mining gives you the option of creating a custom plan in which you can use a slider or enter a custom value to determine the amount of gigahash that you want to purchase.
Genesis Mining allows you to use several types of currencies to purchase the mining contracts including credit card, Bitcoin, Dash, Litecoin and Dogecoin. The contracts that it offers include Bitcoin, Litecoin, X11, Ether, and Zcash. Bitcoin is a lifetime contract while Ether is a 1 year contract. Litecoin and X11 are 2 years contracts.
The advantage of signing up with Genesis mining is that you don’t have to spend a lot of money in buying the mining machine. The machine produces a lot of heats so it is also necessary for you to get a cooling hardware. In addition, you must pay for the maintenance of the mining hardware occasionally. All these cost money and many people aren’t able to get started because they lack funds to make the investment. With Genesis Mining, all these costs have been erased because the hardware is already set up for you.
If you purchase your own mining hardware, you have to deal with the loud noise it generates every now and then. You have to take into consideration that your neighbor will be irritated by the loud noise. Genesis Mining is online mining so there is no need to deal with the loud noise and heat from the machine. The maintenance for the hardware can be eased and you only have to pay a small maintenance fee which makes it much cheaper to get started on mining for coins.
Genesis mining allows you to mine a number of coins such as Bitcoins, Litecoins, Dash and Namecoin. Splitting up your hashpower in between different coins prevents you from putting all the eggs in one basket. It offers lifetime contract so you will continue to earn profits for life. The values of the coins increase over time so you will continue to make profits with Genesis Mining app. With Genesis Mining, you can withdraw the payouts to your wallet every day.
Genesis Mining is suitable for people who don’t want to have to undergo the hassle of choosing and setting up the hardware.Genesis mining also does not charge any mining pool fee for cloud miners.