Genesis Mining is a leading Bitcoin and Ethereum cloud mining service providing quality service to the community for almost four years. Established with Bitcoin cloud mining, the platform has expanded its operations to include Ethereum, Litecoin, Dash, ZCash, and Monero cloud mining. The company currently holds the distinction of being the world’s largest Scrypt cloud mining provider.
Genesis has an undisclosed number of dedicated data farms, involved in round the clock mining operations. The operations can constantly be monitored using a custom web-based monitoring tool; Hive developed by Genesis Mining. This Genesis Mining review will cover everything you need to know about the world’s most established cloud mining platform.
Genesis Mining is widely regarded as the largest legitimate cloud mining company in the world, although it can be a little more expensive than its main competitor, Hashflare.
The platform has over 500,000 customers subscribing to its cloud mining contracts to mine various cryptocurrencies, making it the world’s largest cloud mining hashpower provider. In order to support the growing demand and increasing need for hashpower, Genesis Mining is constantly adding new data centers across the world. While the location of most of their infrastructure is a trade secret, three places — Iceland, Bosnia, and Canada are said to be home to a majority of their operations.
The company also provides video of certain sections of its data centers in Iceland on its website.
Chinachem Century Tower, 31/F,
178 Gloucester Road, Wanchai
Value for Money
Due to its long operational history and being the largest cloud mining provider in the world, Genesis Mining is a desirable option among cloud mining services, although it can be a little more expensive than other platforms.
Bitcoin mining contracts on Genesis Mining is open-ended, and the duration of such contracts is decided by few factors like mining difficulty, Bitcoin/USD exchange rates, and maintenance fees. Users can choose between Gold, Platinum and Diamond plans at $30, $350 and $1950 for 200 GH/s, 2500 GH/s, and 15000 GH/s respectively. It also offers the liberty for users to create their own custom plans for profitable mining. The maintenance fees are charged only when the mining operation over the platform is profitable.
|DASH||Gemini||$30||5 MH/s||2 Years|
|DASH||Ferox||$500||100 MH/s||2 Years|
|DASH||Graviton||$2,250||500 MH/s||2 Years|
|Ethereum||Small||$29.99||1 MH/s||2 Years|
|Ethereum||Medium||$869||30 MH/s||2 Years|
|Ethereum||Large||$2,799||100 MH/s||2 Years|
|Litecoin||Gold||$28||2 MH/s||2 Years|
|Litecoin||Platinum||$650||50 MH/s||2 Years|
|Litecoin||Diamond||$2,400||200 MH/s||2 Years|
|Monero||Blaine||$49.99||60 H/s||2 Years|
|Monero||Dynamo||$819||1000 MH/s||2 Years|
|Monero||Houdini||$2,399||3000 H/s||2 Years|
|ZCash||Starter||$29.99||4.06 H/s||1 Year|
|ZCash||Advanced||$289||40.57 H/s||1 Year|
|ZCash||Professional||$2,699||405.87 H/s||1 Year|
Years of experience in the sector has enabled Genesis Mining to set up a comprehensive Customer Service section on the website. The section has an exhaustive list of FAQs on almost all possible issues, errors or confusion the customers could face while on the platform. If the user is unable to find the solution among existing FAQ listings, they can always fill a form requesting for support. Once the user submits a ticket, the company’s representatives will get in touch with the concerned user to resolve the issue.
Payouts and Payments
Miners on Genesis Mining platform don’t have to worry about their payouts. The platform has a long-standing practice of clearing any dues owed to its customers on a daily basis. Subscribers of cloud mining contracts stand to receive a daily payout of their investment in their designated cryptocurrency wallets. However, in cases where the user has paid for his contract using MasterCard or Visa credit/debit cards, the payout will be withheld for 30+2 days as a part of its fraud prevention and security practice. Once the stipulated period is passed, the user will receive the accumulated payout in his/her wallet. After that, they will start receiving daily payouts.
Contracts can be bought on Genesis Mining by making the payment with leading cryptocurrencies, bank transfers in USD or EUR denominations and through credit and debit cards.
Genesis Mining understands how crucial security is, especially while dealing with cryptocurrencies and user information. In order to ensure the safety of user accounts, the platform employs two-factor authentication, and in cases where the user has lost access to the account, the support team will restore access only after thoroughly verifying the customer’s details, which includes a personal dialog.
The platform promises 100% uptime for the mining operations, which can be monitored and managed using Genesis Hive. At the same time, in the event of any unforeseen events that might affect the mining operation, the platform has contingencies in place, which includes algorithms to allocate other miners to relevant pools to fully compensate possible hashpower loss.
We hope this Genesis Mining review will help you make an informed decision. Genesis Mining is the most established cloud mining company in the market. The platform has built an enviable reputation, with unprecedented transparency and operational history. While the pricing of its packages can be a bit expensive, Genesis is recommended for those who need the very best in quality, regardless of the cost.
Disclaimer: CloudMiningReport does not provide any warranties towards the accuracy of the statements in the above Genesis Mining review. It is your responsibility to conduct your own due diligence of the platform. Bitcoin cloud mining profitability depends on many factors such as the current and future Bitcoin exchange rate, future mining difficulty, and the reliability and security of the service used, including the risk of the service being hacked. As with Bitcoin and cryptocurrencies more generally, do not invest more than you can afford to lose.