Founded in 2013, Genesis Mining takes pride in being one of the oldest cloud mining firms reigning in the industry. A cloud mining platform is one that rents out mining hardware to the customers as well as mine for them in lieu of the share in the profits. These entities are quite effective, especially for the people who are new to the crypto mining industry or those who do not want to invest their hard-earned cash on over-priced hardware equipment required for carrying upon the complex mining operations.
The platform is a team effort of two tech buddies who got fascinated by Bitcoin and ended up starting their first mining farm in Eastern Europe. The tireless efforts made by the curators made Genesis Mining shine as one of the leading hashpower providing firms on a global scale while enriching customers with cryptocurrency mining capacities for one and all. You can be a beginner, a home miner, or a large-scale business investor; Genesis Mining caters to the requirement of all its customers.
With the aim of streamlining and simplifying the process of cryptocurrency mining, the notable firm has managed to establish itself as a ‘miners’ favorite’ firm. Genesis Mining has conducted more than 100 million successful transactions since its inception in 2013. Miners on the farm are able to mine a variety of coins, including Bitcoin, Ethereum, Dash, Monero, Litecoin, and Zcash. The platform boasts of a strong customer base of more than 2,000,000 customers hailing from more than 100 countries.
Lucrative Features of Genesis Mining
- It is infused with the latest technological excellence to offer a multi-algorithm, multi-coin cloud mining service without any pool fees.
- The team has curated the most innovative, advanced, and efficient mining systems to ensure good returns for the customers. This allows the participants to keep track of the markets while remaining competitive concerning the mining rewards.
- It offers 10+ minable cryptocurrencies via six major mining algorithms.
- It serves as a hub, not just for mining data, but also is launch ground for awareness campaigns, open-source mining software, etc. to aid the crypto community.
- The mining outputs are added to the account regularly and automatically.
- The users get a chance to allocate their purchased hash power to other cryptocurrencies within your preferred mining algorithm.
- Genesis Mining does not add an extra burden on its customers in the form of hefty fee charges. The affiliation commission is charged at a rate of 3%, which is quite reasonable as per the current industry changes.
- All the crypto mining charts and data required by the users are available at their disposal at their convenience at all times.
How To Access Genesis Mining?
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The interested customers are required to purchase the contract service with the company to start mining their own cryptocurrency assets. One can choose from the wide range of products available on the platform like Megahash/second, Gigahash/second, Ether Mining, Monero Mining, etc. After the purchase of the contracts/hashing power, the data center will host the miner on the purchaser’s behalf and do the mining in accordance with the hash power purchased.
What News of Genesis Mining Made Headlines?
Genesis Mining recently came into news when the London-based payments firm Digital Capital dragged the former to the court of law on the grounds of failed payments. The firm stated that Genesis Mining didn’t pay 2.4 million pounds in unpaid invoices for the development and maintenance of its credit card software. In counter, the Genesis team has argued in the court hearing that Digital Capital failed to deliver software with capabilities beyond “peripheral functionality.”
A few days back, Philip Salter, chief of operations at Genesis Mining, released a statement conveying that the present economic slowdown might boost the value of Bitcoin as a hedge against the banking institutions. The marketspace in the past few weeks saw a steep decline in hash rate, followed by a significant price drop.
While talking about the role of miners in the present stressful situation, Salter quoted that “It’s no different from traditional markets, you have to sell everything to keep the operations going, to pay off your debts. As a miner, you have bills to pay, you have to pay for electricity, for operations, and your expenses are in dollars, so as the price of bitcoin is dropping, it means you have to sell more of your inventory just to keep going.”
Conclusion
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Genesis Mining can be reported as a beneficial option for all those who are new to the world of mining or are comparatively less aware of the complexities involved therein. The project appears to be legit as the team maintains all sorts of transparency with the customers. The payment mechanism and the profit-sharing theory used by the platform are quite clear and simple, which eventually ensures customers’ safety. This article highlights all the unprecedented features of the Genesis Mining platform so that the interested budding miners can get the maximum information at their disposal before their mining ship finally sails on the water. So, understand the mechanics involved and start mining!
