Genesis Mining Review

General information about Genesis Mining

There is an easy and smart investment solution for the crypto market that Genesis Mining can offer. A multi-algorithm model is used on efficient and reliable mining rigs by the cloud mining service provider, and this equipment is available both for the beginners in the bitcoin sphere, and for digital currency experts as well.

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Genesis Mining started the cloud mining activity at the end of 2013. The founders got together while trading bitcoins on the same platform. Today, Hong Kong has become the place of the company incorporation.

A strong quantitative background is one of those distinctive features Genesis Mining has. Two of the company founders are professionally educated in a mathematical sphere. Current CEO of Genesis Mining, Marco Streng, started investing in bitcoin long ago, and he studied to be a mathematician.

Genesis Mining Review

The other person who founded this company is a professional mathematical physicist and a quant. He is known as Dr. Marko Krohn. He occupies the post of CFO at Genesis Mining. Company staff and both of the founders are frequent presenters at various conferences devoted to bitcoin, and even some blockchain events are sponsored by them.

Some of the company mining facilities are listed on the company’s website. You can use interactive videos to take tours around the mining farms, which are located in Iceland.

For reaching the most efficient mining capacity at many different locations in America, Asia and Europe, the algorithms are processed by the data centers with the help of specially designed hardware.

Since we care a lot about the security, the exact locations are not disclosed, the places are usually chosen according to the electricity costs and cooling availability.

Coins and Algorithms:

For SHA256: Bitcoin
For Ethash: Ethereum
For Scrypt: Litecoin
For X11: Dash
For Equihash: Zcash
For CryptoNot: Monero

Services Provided

Genesis Mining used only mining rigs for earning altcoins before August 2014, and then this cryptocurrency was converted into bitcoin. But due to the fact that bitcoin cloud mining services are in high demand now, the company provides them for more than 2 years as well, and the most advanced technologies are used on the farms to mine bitcoins.
Genesis Mining Review
Since the popularity of existing coins may change, the list of altcoins also changes at times. To make a decision which altcoins to prefer and add to the basket, Genesis Mining uses polls on Facebook. It is up to users to decide which altcoins to mine from the hashpower they purchased, and that can be allocated through the interface with ease.

There are three types of algorithm for cryptocurrency mining that Genesis Mining can offer: SHA256, X11 and Ethereum protocols. Since there is a special feature here, called the Advance Autotrader, it is possible to perform payout in bitcoin, even if you mine a coin with Ethereum or X11. Autotrader allows you to use the most profitable algorithm for mining coins, and the exchange to bicoin happens automatically then.
100% uptime guarantee is offered by the cloud mining company, which means that even in case of a miner crashing, the relevant mining pool will compensate the client in full for the loss of hashpower, and thus the mining time is not lost.

It is as easy as it gets to sign up to Genesis Mining by just providing your e-mail or password. Right after clients sign up, they are able to purchase hashpowers and add payout methods. In order to ensure the security of their accounts, Genesis Mining provides two factor authentification.

Genesis Mining Review

The mining day starts from 0:00 UTC and ends at 23:59:59 UTC, so it is as long as possible. Thus, the mining rigs run 24 hours a day. After the calculation and all checks, the payout report is published on Genesis Mining platform 8 hours after the mining day. Usually, you receive the payout automatically every day, and within 48 hours after the contract started the first payout is sent.

Due to security measures, credit card payouts are withheld for a month, and that is to protect the company from credit card charge backs. But it is possible for clients to follow accumulated earnings on the platform, and the contracts are paid out daily after that as well.

💱 Fees and Pricing Schedule

Genesis Mining keep their word when they promise to rent the advanced technology for the cheapest price. The clients can choose among three level plans that the fee model consists of. The starter plan is charged at 28 USD for 2 MH/s hashpower (Litecoin) and the premium plan price is 12960 USD for 360 MH/s mining power (Ethereum).

Bitcoin cloud mining price:

  • 179 USD for 1000 GH/s
  • 845 USD for 5000 GH/s
  • 2250USD for 25000 GH/s

Dash cloud mining price:

  • 30 USD for 5 MH/s
  • 500 USD for 100 MH/s
  • 2250 USD for 600 MH/s

Ethereum cloud mining price:

  • 1520 USD for 40 MH/s
  • 4440 USD for 120 MH/s
  • 12960 USD for 360 MH/s

Litecoin cloud mining price:

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

Monero cloud mining price:

  • 830 USD for 1000 H/s
  • 2460 USD for 3000 H/s
  • 7200 USD for 9000 H/s

Zcash cloud mining price:

  • 530 USD for 200 H/s
  • 2600 USD for 1000 H/s
  • 7650 USD for 3000 H/s

Go to Genesis-Mining.com

coupon code – IsKB1P (3% discount)

There are also custom plans offered by Genesis Mining, where depending on the mining capacity site the price is pro rata decreasing. It is possible to rent up to 5000MH/s hashpower for litecoin mining (for 60 000 USD) and also 200TH/s hashpower for bitcoin mining (for 26 000 USD).

At this moment, zcash and ethereum mining contracts are out of stock as it is listed on their website.

You are able to sign the bitcoin cloud mining contracts for a lifetime access, but they have a maintenance fee. As for the zcash, litecoin and ethereum contracts, they are signed for fixed term, which lasts for two years, but in this case you don’t have to pay maintenance fee. Also, take note that for covering the maintenance cost of the mining rigs they only charge maintenance fee on SHA256 contracts based on GH/s. As a rule, the maintenance fee of 0.00079 USD per GH/s is taken from the daily mining output. No such fee is necessary for the X11 and Ethereum contracts.

Clients can pay for the cloud mining services with VISA or Mastercard, but usually the fee is charged for orders below $100. USD and EUR bank wire transfers are also accepted, as well as Bitcoin, Litecoin and Dash cryptocurrencies.

The current genesis mining coupon code – IsKB1P (3% discount).

Genesis Mining User Experience

It is easy to navigate on Genesis Mining website since it is professionally designed. There are a lot of questions that users ask in FAQ section, and you can find the answers to most of them there, but if you still need, there’s a possibility to further search in the Genesis Mining freshdesk cloud support to get the answers. The company can answer any questions if the clients send them by email or through a special contact form.

Genesis Mining Review

There’s a great possibility for the users to leave their feedback in the review section on the website. Also you can rate the services here. Thanks to the fact that more than 700 clients have left their positive reviews and rated the services, it seems that they are satisfied.

✔️ Advantages:

for security reasons all mining farms are spread across different locations;

availability of custom mining plans;

autotrader option.

❌ Disadvantages:

maintenance fee on the SHA256 contracts;

no lifetime access for the X11 and Ethereum contracts, but valid only for 2 years;

an extra fee is charged for the credit card purchases.

Overall Conclusion

You will be able to earn a lot if you use the multi-algorithm cloud mining services, which are based on their mining rigs capacity offered by Genesis Mining Company. There are a couple of investment plans to joint the cloud mining activity such cryptocurrencies as litecoin, bitcoin and a lot of altcoins.

It is possible to customize the mining plans, and thus the clients are able to sign up for as much hashpower as they need.

To ensure that the most efficient way is used for bitcoin mining, all mined coins can be automatically traded into bitcoins.

Genesis Mining Review

Unfortunately the service is a bit expensive due to the extra fees on credit card purchases and the charged maintenance fee on bitcoin contracts. Although it has to be taken into account that their fee structure is rather transparent.

Genesis Mining represents the company at different cryptocurrency events, and also it promotes the widespread of bitcoins all over the world.


Go to Genesis-Mining.com

coupon code – IsKB1P (3% discount)

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