The Crypto market is blooming. The world is heading towards digitalization, and people are looking for new ways to earn. This is when people have started seeing Cloud Mining as an option to invest in.
We have talked about investment in the past, and one thing that we always tell people when they ask us about cloud mining is that almost 99% of them are scammers.
What we mean is that they don’t use your money to mine Bitcoin. Instead, they use your money to loan it to other users until the owner runs out of money and vanishes.
Despite such a bad reputation, there are 1% of companies that actually do business mining Bitcoin – Genesis Mining is one of them.
Genesis mining is definitely a legit platform that helps users mine Bitcoin and not scam them. In addition, it provides a registration platform where users can register and start with cloud mining.
What Is Genesis Mining?
When the Cloud Mining market has a negative reputation, genesis mining has become one of the trusted platforms. In addition, the company offers leasing of equipment and power to mine Bitcoin.
Genesis mining was founded in 2013. The sole purpose of this company is to connect the gap between normal users and the sophisticated requirements needed to mine Bitcoin.
We all know Bitcoin is the most popular digital asset you can invest in. However, most people do not have the right resources to mine them. Genesis mining could see this problem and came forward to solve it.
You can register yourself on the genesis mining platform by simply renting their equipment and mining power. Now, how much you have to pay every month will depend on how much power you want to rent.
Genesis payout may vary from $30 to $2,000 depending on the power rented. And according to the website, the users don’t have to pay any additional charges for electricity.
How Does Genesis Mining Work?
The working of the genesis mining website is pretty simple. Just by logging in to the website, you are connected to the database. From here, you can buy hash power to mine Bitcoin without having complex hardware and software setup.
This means that you can save yourself from investing thousands of dollars in mining hardware and simply leasing the equipment. By doing so, you can keep all the profit to yourself.
If you are thinking of how to use genesis mining, you don’t have to. The electricity and other maintenance costs are taken care of by the company itself. You can trust genesis mining company to offer you the best rig possible for mining.
To start mining, all you need to do is to set up your account on the platform, follow through with some necessary steps, fund your account via Bitcoin, and choose the mining plan that best suits you.
What Can Coins Be Mined?
Genesis mining is not all about Bitcoin. Bitcoin is not the only Cryptocurrency that can be mined on this platform. Alongside Bitcoin, you can mine Ethereum, ZCash, Monero, Litecoin, and Dash.
As genesis mining is a pioneer in the industry and has built a good reputation, they have good connections with the mining equipment companies. This is the reason why they are able to offer mining rigs at affordable prices to users.
User Review On Genesis Mining
There are many Crypto talks going around about the company. It seems people claim that you can’t make a profit using genesis mining contracts. Perhaps these are the people who lose their patience. On the other hand, we have seen people making positive claims of actually mining Bitcoin using genesis mining. These are the people who have made most out of the genesis-mining promo code.
If we take a BitTrust genesis mining review, even then, we can’t come to a conclusion. With half of the people saying it’s a scam and some saying they are satisfied, only the ones who have actually used it can say what it is all about.
If we explore different reviewing platforms, the most alarming review comes from TrustPilot. According to TrustPilot, genesis mining is a bad platform for cloud mining Bitcoin or any other Cryptocurrencies.
For some reason, even the 4 or 5-star reviews talk about being scammed. That is where it gets confusing what to believe – the 5-star review or the comments that come with it.
We would like to advise our readers to understand the psychology behind the comment. When there are negative reviews, this means that they were, and for some reason, that reason might not be valid for you. So, before coming to a conclusion, go through the reviews thoroughly and then make any decisions.
Pricing
Pricing varies depending on what plan you want to use or how much power you want for mining.
For instance –
- You can start with a 100 GH/s (Gold) – It will cost you $19.
- You can try the 2,000 GH/s (Platinum) – For this, you need to pay $340.
- The largest contract is the 10,000 GH/s (Diamond) – For this, you need to pay $1,600.
Is Genesis Mining Legit?
From what we have seen so far, we can say that it is a legit investment. However, if we see its ROI, we would mark it as a poor investment. Therefore, it seems like we would be more comfortable buying Bitcoins and trading them instead of mining them using cloud mining services.
If the prices are going up, you are making a profit. And if the prices are going down, you are making a loss. As simple as that. You at least know what is happening with your investment.
In the case of cloud mining, sometimes it becomes impossible to actually track what is happening with your investment.
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