Genesis Mining Review

About Genesis Mining

Genesis Mining is one of the eldest services for cryptocurrency cloud mining. It was first launched by three partners in Hong Kong, in 2013. The public activity of the service started at the beginning of 2014. It has several substantial mining farms with premium mining hardware, mainly in Canada and Bosnia. The hugest mining farm is located in Iceland and operates on Zeus Scrypt miners. The platforms will perfectly suit both novice miners and experienced wolves. Presently, more than 500,000 people use this service to mine various cryptocurrencies.

Legitimacy

You will never be wrong if you say that hundreds of cloud mining websites are considered scams. However, Genesis Mining is one of the few resources that are entirely reliable. Is Genesis Mining legit? Absolutely. This information is monthly checked by specialized autonomous audit companies that watch Genesis Mining activity closely. Be sure – your mining with this service is 100% lawful.

Supported algorithms

Genesis Mining supports the most reliable and spread mining algorithms:

• Scrypt;
• SHA-256.

Supported cryptocurrencies

Genesis Mining keeps on spreading the number of supported cryptocurrencies. Now the service allows mining Darkcoin, Bitcoin, Namecoin, Unobtanium, Dash, Litecoin, Dash, Monero, Zetacoin, CureCoin, Dogecoin, Peercoin, Zcash, Ethereum Classic, Ethereum, Augur, and Startcoin.

The principle of Genesis Mining work

It is effortless to start mining with Genesis Mining. The process is as follows:

• You should register first. It is a quick process;
• Chose one of the contracts and pay for it;
• The Genesis Mining adds this contract to your profile;
• Start mining.

Pricing, fees, and contracts

Presently, bitcoin, monero, DASH, and litecoin contract plans are out of stock. Only Zcash and  ethereum plans are available. They look like the following:

Bitcoin contract

• Current status: out of stock;
• Duration: two years;
• Daily maintenance fee: $0.00028 per GH/s.

DASH contract

• Current status: out of stock;
• Duration: two years;
• Daily maintenance fee: No.

Ethereum contract

• Current status: Limited pre sale;
• Duration: two years;
• Daily maintenance fee: No.

Litecoin contract

• Current status: out of stock;
• Duration: two years;
• Daily maintenance fee: No.

Zcash contract

• Current status: Limited pre sale;
• Duration: two years;
• Daily maintenance fee: No.

Monero contract

• Current status: out of stock;
• Duration: two years;
• Daily maintenance fee: No.

Monero contracts description

Currently, Genesis Mining offers four Monero contract plans. These are:

Blaine (starter)

Two-year contract – $830 for 1000 H/s

Dynamo (best buy)

Two-year contract – $2460 for 3000 H/s

Houdini (max profit)

Two-year contract – $7200 for 9000 H/s

Custom plan

You can create your monero mining plan and count the desired sum of contract.

Available payment methods

As payment methods, Genesis Mining accepts:

• Cryptocurrencies – Bitcoin, Dash, Dogecoin, Litecoin.
• Credit/debit cards – Visa/MasterCard.

Note: in case you desire to pay using a credit card, the minimum sum must be at least $50. All payments under $100 are subject to additional fees.

Payouts

Genesis Mining offers every day payouts of all mined cryptocurrencies. A typical mining day lasts from 00:00 to 23:59:59 (Coordinated Universal Time). A new member of the service can get the first payout after 48 hours have passed. After it, you can send requests for daily payouts.

Promotions and bonuses

Genesis Mining provides all miners with lucrative promo codes. They can be used to receive attractive discounts for purchasing hashrates and getting other gifts.  The affiliate program allows each miner to get 3-7% for each new referral.

Genesis Mining offers regular promotions which are added to your profile automatically. For example, you get promo codes which allow adding the certain percentage to both your contract price and hashpower.

There is also a particular “Autotrader” option which allows trading between altcoins automatically. It is the only service which offers such an exclusive feature.

Security of the platform

Genesis Mining uses the highest security measures so that nothing could disappoint its clients. However, in the “Privacy” section of their official website, the services states that it cannot guarantee 100% security of both your personal and financial information. That is a very disappointing factor.

Customer support

Genesis Mining support team is very friendly to its clients. Thus, they have done their best that we feel comfortable while using the service. Every time you have a question concerning the service work, feel free to ask it using one of the following methods:

• Browsing extensive FAQ section;
• Email;
• Submitting a ticket with your question.

Please note that the support department works only from 9 a.m to 5 p.m.

Pros and cons of Genesis Mining

Advantages of Genesis Mining:

• The service supports 18 cryptocurrencies;
• Sophisticated hardware;
• Responsive support;
• You can mine various coins simultaneously;
• Instant withdrawals and payouts;
• Real company with real working professionals;
• Smart mining solution;
• Your income cannot be taxed;
• Multiple payment methods are accepted;
• 7%+ affiliate program;
• Transparent pricing;
• Generous promotions;
• The service operates on its hardware;
• Trustworthy security system;
• 100% legit resource.

Disadvantages of Genesis Mining:

• Only two mining algorithms;
• Customer Support does not often answer quickly;
• Limited time of support department work (from 9 a.m to 5 p.m.);
• Additional fees for credit card payments;
• The service does not guarantee 100% security of both your personal and financial information.

To sum up

Well, everything we wanted to say, we`ve already mentioned. Let us sum up. Genesis Mining undoubtedly deserves your attention for several reasons. The first and the critical factor is that its team is very friendly towards all clients. The second point is the dynamic development of the service. Developers do not stop their work on improving the resource. They continuously review the list of crypto-currencies and algorithms; introduce new payment types, etc. Well, the fact that Genesis Mining belongs to a celebrated manufacturer of bitcoin equipment and uses this equipment in its data centers also gives good reasons for confidence in the future.