Genesis Mining Review

Genesis Mining (genesis-mining.com) is a cloud mining solution which offers crypto enthusiasts an opportunity to mine their favorite cryptocurrencies without dealing with all the difficulties and technicalities involved.

This service has been active for more than 5 years as of writing this review. There has been a lot of questions and uncertainties revolving around this service for a long time.

This Genesis Mining review will act as a helpful guide to anyone who wants to get started with this service.

Genesis Mining Company and Contact Details

Genesis Mining was founded at the end of 2013. The CEO of this company and also one of the co-founder of this organisation is Marco Streng.

This firm owns several mining farms across Europe, America and Asia but they do not reveal their exact location to the public for security reasons. They are even registered with SEC.

The official address of this firm is Chinachem Centry Tower, 31/F, 178 Gloucester Road, Wanchai, Hong Kong.

Genesis Mining Iceland EHF. Registered address: Borgartuni 27, 105 Reykjavik,  Iceland.

The support team of this firm can be reached through email (contact@genesis-mining.com) between 9.00am and 5.00pm (UTC).

Genesis Mining features

Depending on the blockchain algorithm and the mining plan bought by the user, they can either mine Bitcoin, Litecoin, Dash, Ethereum, Monero or Zcash. The users can allocate the hashpower to other cryptocurrencies or choose a specific coin.

The first payout reaches the wallets after 48 hours and then the payouts are credited on a daily basis.

To mine certain coins, different blockchain algorithms will be more beneficial. However, note that by default the availability of the cryptocurrencies you can mine depends on the plan chosen.

Here are details of some algorithms.

• SHA256 Contract – Bitcoin
• Xii Contract – Dash
• Ethask Contract – Ethereum
• Cryptonight contract – Monero / Monero classic
• Scrypt – Litecoin
• Equikash – Zcash

We do not know which pools are used by Genesis Mining. They only mention the main criteria of their pool, which are pretty obvious factors such as reliability, fee structure and reject rate.

Genesis Mining plans and returns

There are 4 plans offered by this platform:

Radiant Gold – $ 285

• 1 TH/S
• 5 year Bitcoin Mining Contract
• SHA – 256 Mining Algorithm
• Maintenance fees apply.

Radiant Platinum – $ 1,400

• 5 TH/S
• 5 year Bitcoin Mining Contract
• SHA – 256 Mining Algorithm
• Maintenance fees apply.

Radiant Diamond – $ 6,875

• 25 TH/S
• 5 year Bitcoin Mining Contract
• SHA – 256 Mining Algorithm
• Maintenance fees apply.

Custom plan

• TH / S depends on the value entered by the user (capped at $55,000 and 200 TH/S )
• SHA – 256 Mining Algorithm
• Maintenance fees apply.

The expected ROI is not specified by this service as it depends on a number of factors like price of bitcoins and altcoins and mining difficulties. They urge the users to make the performance calculations.

Deposits and Withdrawals

The payment methods supported by this platform are

• Credit card (Visa / Mastercard)
• Cryptocurrencies (Bitcoin, Litecoin, Dogecoin, Dash and Bitcoin Cash)

Domain Popularity

Genesis Mining has got a user base of over 2,000,000 people.

According to whois.com, this domain was registered on 06/02/2014

This website ranks 14,513 globally and ranks 16,561 in the United States.

The majority of the users are from United States, Japan, Germany, Brazil and India.

Genesis Mining Complaints

This service also has a fair deal of complaints over the years. Here are some comments from users on TrustPilot.com:

Genesis Mining is DECEPTIVE and FRAUDULENT

Genesis Mining do not uphold their part of the agreement.

Genesis Mining frequently stop providing your daily payout numbers, so you don’t know what the payouts should be and when the reporting of daily payout number resumes, there are gaps and missing days, the average of what is reported to the payouts differ – always in their favour.

Genesis Mining continually stop providing payouts, so you don’t get your coins transferred to you, and when they restart the amounts don’t align with the payout figures provided.

Genesis Mining always blame their IT department for the missing transactions and payouts, so therefore the frequency of the issues means that they have a unreliable and ineffective capability to provide a reasonable service to you.

Genesis Mining only seem attend to support tickets after you publicly embarrass them on twitter or Facebook

If Genesis Mining is not a scam then they are recklessly incompetent, something the law suites against them will prove I am sure.

Affiliate program

Genesis Mining provides attractive incentives for the people who promote their platform. For exact details, visit F&Q section of genesis-mining.com.

Is Genesis Mining a scam?

Genesis Mining is a trustworthy and legitimate mining solution which fulfills the promises made by them.

However, that does not mean they are profitable. It is just due to the rising cost and uncertainty covering the crypto markets.

Genesis Mining Review conclusion

If you want to get involved in mining without having to go through all the hassle which comes with maintaining and running a mining farm, then Genesis Mining is a good option but just don’t have too much expectation.

What are your thoughts about Genesis Mining? Let us know by commenting below this review.

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