Those interested in Bitcoin Mining will quickly discover when visiting the Genesis website that the superlative is omnipresent. There is talk of "market-leading services", "a world-class cryptographic currency company" and "over 1,000,000 customers". Reason enough to take a closer look at the Cloud Mining provider's offer and report about our Genesis Mining experiences.
The company has been in existence since the end of 2013 and was founded by Marco Streng, a German investor in crypto currencies from the very beginning. The other founders are mainly people he met on a Bitcoin trading platform. They all come from different areas of expertise and share one passion: digital currencies. With this motivation in the background, the aim is to make mining of Bitcoin and other crypto currencies available to as many people as possible.
Genesis Mining Ltd. has its headquarters in Hong Kong and continues to have a strong presence in Iceland. Three large Genesis Mining data centers, so-called mining farms, are located there. Among others, the world's largest Ethereum Mining Farm "Enigma" is operated here and can be explored by interested parties via livestream. This way Genesis Mining counteracts reports from the early days of the company that the cloud mining provider was a scam. Also beyond that, co-founder Marco Streng is very active in the social networks and other media, so that there is no longer any doubt about the seriousness of the company.
Through its website Genesis Mining gives further insights into its mining facilities in Iceland. For example, a Bitcoin Mining plant and a Dash Mining plant are also presented. In addition, the provider maintains numerous other plants in Europe, America and Asia, but does not disclose their exact locations. This is done for reasons of customer protection and, of course, for the safety of the farms. Iceland was not chosen by the operators as a location by chance. On the one hand, the electricity costs are comparatively low, which means that the operating costs can be kept as low as possible. On the other hand, the naturally cold ambient air can be ideally used to cool the facilities. This is because the high electricity consumption also generates an immense amount of waste heat.
Our Genesis Mining Test has shown that Bitcoin, Dash, Litecoin or Ethereum can be mined by concluding the corresponding contract. A special feature is the fact that payouts are also possible in other crypto currencies and customers can even choose a mix of several coins. This option exists with hardly any provider except for the "world leading multi-algorithm cloud mining service" - according to Genesis Mining's own description.
- Large selection of crypto currencies
- Bitcoin, Dash, Litecoin, Monero, Zcash or Ethereum selectable
- Profits are paid out daily
- fast payment by credit card
- Various contract packages to choose from
- efficient mining via powerful hardware
- simple administration via intuitively operated software
- Credit card only payment method
- does not offer an own wallet
- Contracts only available in limited numbers
Before investing in cloud you should make your own research.
I do personally have a 10% of my portfolio invested in cloudmining.
If you want to give Genesis Mining a try, click here.
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