Genesis-Mining.com Review
- Mining farms are spread across various locations for security reasons
- Custom mining plans are available
- 100% uptime guarantee
- Maintenance fee on some contracts
- Maximum 24 months runtime
- Credit card purchases are charged with an extra fee
Genesis Mining offers an easy and smart investment solution for the crypto market. The cloud mining service provider uses a multi-algorithm model on their efficient and reliable mining rigs that are available for rent for both digital currency experts and for those who are new to the bitcoin industry as well.
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About Genesis Mining
The cloud mining activity has been started at the end of 2013 at Genesis Mining. The founders have been trading bitcoins on the same platform, this is how they got together. Nowadays the company has been incorporated in Hong Kong.
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.
The company lists some of their mining facility on their site. Interactive videos guide the visitors across the mining farms in Iceland. The data centers processing the algorithms on specially designed hardwares to reach the most efficient mining capacity at various other locations in Europe, America and Asia. The exact locations are not disclosed due to security reasons, they are choosing the places based on electricity costs and cooling availability.
Genesis Mining on Social Media
- Facebook: https://www.facebook.com/GenesisMining
- Twitter: https://twitter.com/GenesisMining
- Youtube: https://www.youtube.com/c/Genesismining_official
Genesis Mining offers the following algorithms for coins to mine:
- SHA-256 contract – Bitcoin
- X11 contract – Dash
- Ethash contract – Ethereum
- CryptoNight contract – Monero/Monero Classic
- Scrypt – Litecoin
- Equihash – Zcash
Address:
Genesis Mining Ltd. Chinachem Century Tower, 31/F, 178 Gloucester Road, Wanchai, Hong Kong
Services Provided
Before August 2014, Genesis Mining was only running mining rigs for earning altcoins, which were then subsequently converted into bitcoins. However due to the high demand on the market, for more than 2 years now they are providing direct bitcoin cloud mining services as well, ensuring the latest technology is used for bitcoin mining on their farms too.
The offered list of altcoins changes time to time based on coin’s popularity. Genesis Mining uses polls on Facebook to decide which altcoins should be preferred and added to their basket. They also let the users to decide which altcoins to mine from their purchased hashpower that can be easily allocated through their interface.
Genesis Mining offers various types of algorithm for mining cryptocurrencies: SCRYPT, SHA256, ETHASH, EQUIHASH, X11 and CryptoNight.
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.
Users can sign up to Genesis Mining cloud mining services just by providing an email and a password. After signing in, clients may add payout methods and purchase hashpowers right away. Genesis Minings enables two factor authentication to increase the security of their accounts.
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.
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).
Although it is listed on their site, currently zcash and ethereum mining contracts are out of stock
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 maintencance fee is charged. They only charge maintenance fee on SHA256 contracts based on GH/s to cover the maintenacne 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. On this site you can find the current genesis mining coupon codes.
Genesis Mining User Experience
Genesys Mining website is professionally designed and easy to navigate on. The FAQ provides the answers to most of the user’s questions, but clients may further search in the Genesis Mining freshdesk cloud support service for answers. The company is also happy to answer any question raised through their contact form or sent by email.
There is a review section on the site where users can rate the services and can leave anonymous feedback. Currently almost 700 client left some kind of review and rated their services, based on this it looks like the clients are satisfied.
Overall Conclusion
Genesis Mining offers multi-algorithm cloud mining services based on their mining rigs capacity around the world. The company offers several investment plans to joint the cloud mining activity in bitcoin, litecoin and many more altcoins. The mining plans are customizable, so the clients can sign up for as much hashpower as they want to. The mined coins can be automatically traded into bitcoins, ensuring the most efficient way is used for bitcoin mining. Although their fee structure is very transparent, the charged maintenance fee on bitcoin contracts and the extra fees on credit card purchases makes the service a bit expensive. Genesis Mining represents the company at cryptocurrency events and promotes the widespread of bitcoin across the world.
Pros:
- mining farms are spread across various locations for security reasons
- custom mining plans are available
- 100% uptime guarantee
Cons:
- maintenance fee on some contracts
- maximum 24 months runtime
- credit card purchases are charged with an extra fee
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Most Genesis Mining contracts are sold out, use Hashflare.io instead and use this coupon code:
Go to genesis-mining.com
i put 18 k usd in genesis, were at 3 months , i got half back yet (9400) its agood investment , not the best in crypto but a more stable one
I bought a 5000 M/h 2 yest contract with Genesis. I am three months into the contract, and two entire months of payouts are missing. The accruals reflected in their Dashboard, the few that do show up, don’t make sense in relation to what one would expect. I submitted various support requests, but, two months in, they have not corrected any problem other than sending boilerplate replies. At the current rate, the return is equivalent to $2 per $100 invested, and getting worse as time goes by. I wrote a negative review on their site, and, of course, it disappeared five minutes later. They either can’t get their job done or it’s an outright scam.
Genesis Mining is the most trusted cloud mining company operating since 2013 and gives high profit. GM offers minimum contracts for 2 years and I am using it since a long time. They are giving daily payouts. Their site is easy to use, also great. Deposits with cryptos are fast! This makes it great using Genesis Mining. I’m glad to call myself a loyal customer.
Genesis Mining is the most trusted cloud mining company operating since 2013 and gives high profit. GM offers minimum contracts for 2 years and I am using it since a long time. They are giving daily payouts. Their site is easy to use, also great. Deposits with cryptos are fast! This makes it great using Genesis Mining. I’m glad to call myself a loyal customer.
I have been mining with Genesis Mining for a very long time and I am still very satisfied with how things are going. Site is simple to use, you have a lot of packages to chose from and contracts are easy to understand. So, I will always say GM is definitelly the best mining company, and probably the only legite one on the market.Hope it will stay this way or be even better.
Genesis Mining is a really good platform for mining.I’ve been using G.M. for a long time and i can say that they are trustful and healpful.I didn’t experienced any problem with it.My payments always come on time.So far I’am satisfied with G.M. and I will be using them in the future for sure.
I would always invest with Genesis Mining. They showed openness and transparency in these crisis. That is something I value when it comes to my money and time invested. I have upgraded my contract and until now it turned out to be quite good move. The payments are regular and on time and their customer service is just great. I really hope the whole mining industry will be back on tracks soon. I will be mining with GM still, though.
Happy GM investor here, too 🙂 Genesis Mining is definitely going places. It is not the biggest mining company for no reason. I feel like my investment is in good hands, since I am recieving regular payments. We all had rocky start with mining in general, but GM stayed true to their customers and that’s why they gained my trust!
Actually I have calculated, and as I sad it turned out to be a great investment. I’m aware it is not same for everyone but my experience with investing in GM turned out to be great. I’m very satisfied with my payments and how they are regular and on time
I have done my own mining, set up servers, cooling, and data center space. Fixed the equipment when it failed and had to make sure it was online and secure from hackers. But then I invested with Genesis Mining. Wow, that was so much easier. I have a contract in Genesis Mining and I am very happy with my payments. I also like how the chose Iceland as the Mining location with arctic air and thermal power. The interfaces are easy to use and the protection you from making dumb mistakes like too small of bitcoin deposits that eat up all your profits.
Bottom line these guys are reputable, honest, transparent and efficient. They are not the biggest mining company for no reason! I would look no further than here for mining Crypto’s.
I have a contract in Genesis MIning and I am very happy with it. I have never regretted for starting mining with them. Until now they have been fair in telling real mining market status. I value that in company that I invest my money at. To be honest, I wouldn’t invest anywhere else since GM is proven to be legit and transparen
I have a contract in Genesis MIning and I am very happy with it. I have never regretted for starting mining with them. Until now they have been fair in telling real mining market status. I value that in company that I invest my money at. To be honest, I wouldn’t invest anywhere else since GM is proven to be legit and transparent.
I also have a contract in Genesis MIning and I am very happy with it. I have never regretted for starting mining with them. Until now they have been fair in telling real mining market status. I value that in company that I invest my money at. To be honest, I wouldn’t invest anywhere else since GM is proven to be legit and transparent.
Genesis Mining is definitely going places. It is not a biggest mining company with no reason, I feel like my investment is in a good place, and my paymants are regular and on time.
When it compes to mining bitcoin and mining ingeneral i trust only Genesis Mining as there are so many scams and ponzi nowdays. I wouldn’t risk and invest anywhere else and I am saying this after years of mining in different sites. Genesis Mining proved to be real and legite, their paymants are regular and on time. I have a few contracts and btc is one of them. So far I can say that I am more than satisfied with how things are going and just a feeling of beeing secure when my money is invested is everything. So, Genesis is definitely my reccomendation.
Do I want to invest in Genesis? Short answer.. No. Stay far away from this one. Halved my investment.
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