Today I'm going to write a review of the genesis-mining website.
Genesis-mining is giving everybody the opportunity to mine Bitcoins and other altcoins like Litecoin, Dodgecoin, Zencoin, etc...
They of course control all the hardware for mining the Bitcoins and altcoins but as a user do not have to worry about any the setup, costs or hardware failures. Of course, if you mine yourself then you will earn more coins but you will need to take care of everything yourself.
I tried a few of these platforms already, one better then the other one, some were scam sites, others were legit.
I invested in genesis-mining on the 1ste of December so it is almost one month now that I'm mining Bitcoins via them.
At first I was a bit sceptic because the first weeks the amount of mined Bitcoins was rather low. I bought 2 different mining contracts (more to come) and the ROI was going to be a year which is in some cases good because you know that it is more legit but in other cases it can be a trick to gain as much as money as possible in a short periode of time and then just run with it
The last week I noticed a change in the mining output. It was increasing so now the ROI is less then a year. If this keeps on rising then the ROI will be a few months instead one year.
I will discuss the following:
- Affiliate program
- Negative points
So how does Genesis-mining work?
If you want to mine with them then you just need to buy hashpower. The more hashpower you buy the more coins you will mine. It is as simple as that.
Genesis-mining has 3 different contract in which you can invest in. You can buy them with USD (credit card), Bitcoins, Dogecoins, Litecoins, Dash or Wire.
The 3 contracts are:
1. Lifetime Bitcoin Mining
The name of the contract just says it all. You buy a contract for lifetime. The contract will never expire unless mining is not profitable anymore. The ROI is lower then the other contract but in the long run you will make more from a lifetime contract.
Lifetime mining uses the sha256 algorithm for mining.
I bought a 0.1 TH/s lifetime bitcoin contract. The minimum that you can buy is 0.05 TH/s for $22,49.
2. One year X11 mining
The second mining contract is a one year X11 mining contract. With X11 mining you can mine more Altcoins and the contract will give a higher ROI as it is only active for one year.
I bought a 5 MH/s contract. The minimum that you can buy is 1 MH/s for $24.
3. One year of Ether mining
The last mining contract that you can buy is the ether mining contract. This is a new contract that genesis-mining has introduced. It will stay active as long as profitable. If it is not profitable anymore the contract will be converted in an X11 mining contract.
This contract I didn't buy because it did not exist when I joined genesis-mining. The minimum that you can buy is 3 MH/s for about $53,97.
My experience with genesis-mining is only two weeks but in these two weeks I triggered the helpdesk to find out how long it would take that they picked up my ticket and gave me an answer.
I have to say that they were rather fast and correct. They give me a good explanation why my funds were not withdrawn.
In these two weeks I made a around $7,5 that means that it will take me less then a year before I have a ROI. But as said before, the output is going up so I'm expecting a return much sooner.
Every day I receive my mined bitcoin in my bitcoin wallet. It is never on the same time so I'm not panicking anymore when I did not receive any bitcoins. The bitcoins are always deposit in your bitcoin wallet.
Genesis-mining also have an affiliate program. Its rather different then other mining websites.
Most of the website give a link and via that link you will earn 5% of your affiliate.
Genesis-mining uses a discount code. Everybody that signs-up at Genesis-mining receives a unique code which he can be shared with others that want to use Genesis-mining. This code gives the following benefits:
Each time when somebody uses your affiliate code, that user will get discount of 2.5 % on all Hashpower packages and you will get a free upgrade of your existing Hashpower plan in the same amount for 1 year!
For example, if a user uses your affiliate promo code while purchasing 10 MH/s, they will get a discount of 2.5 % on existing prices and you will get free upgrade of your existing Hashpower plan in amount of 0.25 MH/s! It is a win-win situation for both of you!
Each time when somebody uses your affiliate promo code you will be notified by email with all the details.
I would recommend on using a code all the time when buying hashpower. If you want to try Genesis-mining out then you may use my promo code: UiMB1x
A negative point of the platform is that you can not sell you hashpower. It is bound to your account.
For now the only other negative point is that I do not know how long my ROI will be.
Hopefully this review was helpfull?