Mining is a smart way to earn coins for free. Genesis mining is one tool which is used to mine the different coins. So in this article, we are going to give Genesis Mining Review which can help you to understand more about genesis mining.
Genesis mining is one of the best options for the beginners who want to start the mining of the cryptocurrencies mainly bitcoin. The hash power is bought by the clients to start mining. This is one of the simplest and cheapest ways to mine cryptocurrency.
It came into existence in 2013 and since then it is providing its services to more than 500,000 users. Genesis Mining at present is used by people all around the world like Asia, Europe, and America. But is it good or not we can decide with the help of following points.
Genesis Mining Review
There are various features that are provided by Genesis. But there are some cons as well. So here are some of the things which will help you assess the genesis mining condition:
Things they provide
Genesis provides many services but mining is the main one. Some people mine directly. But buying the cash rate from genesis mining and using it can be considered as the best way to mine. In this, you have to sign a paid contract. This contract will be added to your profile. And from that moment mining can start by you without wasting any time.
The contract usually gets confirmed after 48 hours and from that time you will get the first payout. Genesis uses a multi-algorithm cloud mining process. To solve the problem faced while solving the bitcoin mining. They started mining other altcoins and cryptocurrencies and exchange them for the bitcoins.
There are various contracts that are provided by the genesis mining which can be selected by the client. The user can decide from those options, how much he or she wants to invest. Some of the common plans offered by it are:
- Small/Starter plan
- Medium plan
- Large plan
- Custom plan
These are the plans which can be used for genesis mining. If you are a beginner and want to start mining for the first time then “custom plan” is the best option for you.
Currencies Genesis Support
There are different options that are provided by Genesis to mine. All you have to do is choose which digital currency you want to mine. Some of the options that are provided by them:
In the digital world security is the most talked topic. But genesis mining does not provide you with the best verification procedure which can be dangerous for the security. Assigning up process is very easy there is no need to provide any official documentation. All you need is the email address and secure the password.
Safety is on the topmost priority for anyone when it comes to the cryptocurrency world. You must avoid any company that is promising lucrative incentives but not able to provide any important documents about the company or their users. So here are some points which can make you trust the Genesis mining
- Community trust
Genesis mining tool which is used by a lot of people and has positive reviews from them. But the problem is, there are some complaints also.
The security prospect is not the plus point for genesis mining. As there is no information provided by them on their website. But till now no case of hacks has been filed by the users, so it can be considered as safe for the users.
Genesis mining charges very high fees. There is a chance that you will not be able to make any profit out of it. To analyze the whole prospect before starting the mining process.
In the summarized form of the Genesis Mining Review. We can consider it a good tool to mine but an expensive one with very fewer security features.