My experience with Genesis Mining
My experience with genesis mining and why I would recommend using them
If you do not know what genesis mining is, it is a cloud mining service that allows you to buy hashpower to mine your own coins, without having to have the physical machines running at your house. They have mining for many different coins including, BTC, ETH, LTC, DASH, DOGE, and a few other coins as well. You can find their youtube channel here: https://www.youtube.com/channel/UCRLAk9bSfVyIOWoKQx6DHPQ
You can buy any amount of hashpower and they accept payments in USD, BTC, LTC, DASH, and ETH.
I would recommend to finish reading this post before investing so you understand what it is and how you can also get A 3% discount off any purchase
If you are interested in checking out the site before you read this post you can check them out here: https://www.genesis-mining.com/a/262281
I would like to start off by saying that I would not trust any other cloud mining service besides Genesis mining because it is the only one that is actually attending events and gives presentations all the time around the world, as well as because how long they have been around.
When i first started I was not so sure that it would be worth it to invest in genesis mining. I started off with investing only around $100. After about 6 months of mining I had made my money back in bitcoin that I had first put in. This is when bitcoin was still trading around $700 a coin. I have since invest quite a bit more into the program, and now it takes about 4 months to get ROI with genesis after this period it is all profit, this is at the current price of bitcoin around $2600.
I have now made in access of double my initial investment, I do get people to sign up using my affiliate code so that I do get some bonuses this way too, but I have found that this is a great opportunity, especially because you can mine such a large variety of coins in one spot without having hardware.
So once you sign up and create an account you can purchase hash power by clicking upgrade hashpower. You can start with just a small amount to test it out first. When you do your purchase make sure to use this code for a 3% discount yoFLzb:. Make sure that you go into settings also and set up your wallet addresses so they will know where to send your currency.
Can you tell us about rising mining difficulty? Because I made my research and think it is not profitable as the rising difficulty eats up all the profits and you just freeze your money, thanks
It has not caused any problems for me yet but I guess if the price of bitcoin went back down to around 500 or so that your profits would be very low. Since I bought my mining power when bitcoin was at around $700 I am now making more than ever before with Genesis. You get the mining but you also get the transaction fees people are paying. It does get harder to mine but usually as it gets harder the price increases also so that you are making more actual USD even if you make a little less bitcoin. When the price goes up you actually mine more because of the transaction fees as well. I mean I have over doubled my money so far but my earnings in the future might start to slow down from difficult unless the prices rises to match it. I have heard many people say this but I am not sure if they are just calculating without transaction fees or if they take into account that bitcoin price will more than likely go up to match difficulty.
That was deep! Thank you very much!
no problem if you decide to try them out please use my discount code :) you get 3% off and I get 3% bonus :). Let me know if you have any more questions I am making around $25 a day mining now. Although I have been reinvesting and getting people to invest a little too witch helps.
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