- Fast 24/7 support
- Easy to configure
- Reputable company
- Dynamic enough service development
- The presence of a real office and publicity of the company
- Doesn't seem profitable in the long run
- Doesn't provide full, comprehesive information to the users
Genesis Cloud Mining Review
With cloud mining, there’s no longer any necessity to buy expensive hardware and keep a wary eye on its performance. Therefore, more and more users decide to cooperate with cloud mining companies these days. Genesis Mining is one of such companies.
Genesis was established in 2013 and it is considered one of the oldest and most popular companies around. Their mining farm is situated in Iceland.
Using this service, you can gain six types of cryptocurrencies: Bitcoin, Monero, Litecoin, Ethereum, Dash and Zcash. However, Bitcoin is the most popular option on Genesis (as well as on the other similar platforms).
There are four tariff plans for every type of currency presented on a resource. All of them have different prices and mining rates. As for the contracts for getting bitcoins, they vary in accordance with the following factors: USD/Bitcoin exchange, mining difficulty, and servicing fees (such as electricity, cooling, etc.)
A good thing is that the maintenance fee is held back from the contract as long as it is profitable. Current fee is USD 0.00028 per GH/s per day. When cooperating with Genesis, you purchase hashpower to mine coins whichever you like.
Pros and cons
Here are some benefits of using Genesis Mining:
- Long-standing customers get promo codes and upgrades that increase their hashpower
- There are affiliate programs for those who invite friends
- The distributing of hashpower between types of currency is flexible, therefore you can mine different coins at the same time
- Convenient and simple interface
And here are some disadvantages of entrusting your mining to Genesis:
- The system doesn’t provide too much information about your mining activity
- Genesis doesn’t provide users with an online calculator
- There are no fee statements for users to view and track the performance
- No information about each separate block in a chain and how it was mined
If you are considering the idea of investing your money in Genesis and still have questions about the services or tariff plans they provide, make sure to contact their customer support department. From our experience, they answer fast.
In a word, Genesis is a reliable company that might be worth a try, especially if you are new to cryptocurrency mining. It is simple to use this platform, however there are some questions about performance information transparency.
Well... Read the genesis mining reddit's posts and make your own opinion.... I do not recommend GM after been their customers Pierre
$0.4XMR for around one and a half year. Email for support and no response 200 days.
I am very pleased with Genesis Minig and will continue to use their services. I know that my investment is in safe hands. GM-right choice ...
My experience with Genesis Mining is great. I even upgraded my contract recently and it turned out to be a smart move. Contract is still running and I get my payments regularly and on time. I have never regretted for starting mining with them. They have great customer support, which I value a lot when it comes to investing my money. Big thumbs up!
Genesis Mining is definitely the best company for mining on the mining market. If you are new to mining you will see how easy it is to start mining on their site. I remember when I first started mining and I was looking for a site that is first of all, legite and the other thing was that I wanted the easy to use site. I have found that in GM. Untill now, I have a few contracts in Genesis and I am very satisfied with my paymants. They are rising, are regular on every day basis and for me mining is still very profitable. I bought more hash power lately so I am hopeing for even more profits. Anyway, Genesis is definitely legite and great mining site.
My experience with upgrading my contract is good. It turned out to be a great move. Contract is still running and I get my payments regularly and on time. Your unprofitable contract would end up anyway so this will keep them running for five more years. And the prices are good. As far as I’m concern it’s a Great deal. Genesis Mining is a legit and transparent company, so I haven’t had a doubt when it comes to my contract. Good luck!
Genesis Mining was my first and stayed my only choice when it comes to choosing mining company. From my beginings 'till now I have my paymants regulary and I have never had any problems with them. Keep up with good job.
I use Genesismiing for a month and everything seems to be legit and secure. However, prices and fees are really high – 5% management fee + electricity fees, well I do understand that this is the price you pay for using a popular and trustable resource, but that’s touching me in my pocket!
really makes crypto mining very simple – they have a 100% user friendly website. However, mining with them is too slow, comparing to other similar platforms. Also, withdrawal fees are just enormous. So I would prefer another service, because simplicity of use is not as important as speed and low charges for me. But you may cetrtainly try
I guess, Genesis is a good place for those who make their first steps in cloud mining – they have simple website and low renting fees, so this is a perfect chance to look at the process from within. I cannot say that they provide profitable conditions, since work here is too slow and as a result profits are low. On the other hand, you may give it a try if you want to learn what cloud mining is without losing too much money (and without earning too much too :D)
Genesis Mining is not an option to consider if you are serious about crypto mining. Before I registered, I thought that charts and tables will show statistics and daily mining activity data + earnings, but they turned to be absolutely useless. They only show your own payments if you are lucky to get them. No overall information, so you have no idea what’s going on. I had a Monero contract with them but it has been broken because of some technical problems they have with ASICs. As a result, mining Monero became impossible and customers with XMR contracts had to mine some useless second-rate coins. I believe that this company should provide all users with XMR contracts with a refund