Is Cloud Mining Actually Profitable (Genesis Mining review)?
I have been cloud mining for the last 2 years with Genesis Mining. This article is a recapitulation of how much money I made using this cloud mining service. Note that investing in cloud mining is a risky operation, this is why I recommend you to read my blog post: Cloud mining : what are the risks and how to minimize them?.
Comparison table of Genesis Mining Contracts
The following table is a comparison of the mining contracts provided by Genesis Mining.
| _ | Bitcoin | Ethereum | Litecoin | Monero |
|---|---|---|---|---|
| Investment | $800 | $200 | $100 | $100 |
| Return in 2 year* | $1104 | $424 | $194 | $90 |
| Yield | 138% | 212% | 194% | 95% |
*2 years is the contract-period for Ethereum, Litecoin and Monero.
Conclusion
An investment two years ago turned out to be a good operation. This is important to note that investing in cloud mining right now is probably not as good as it used to be.
If you still want to buy a Genesis mining service, you can get a 3% off if you use my promo-code: OebC5f (I will get a percentage of what you buy).
Obviously, just buying the crypto and hold is multiple times more profitable. I've always know that. Never done these mining contracts for that reason. There's a big winner though - i'm sure we can guess who.
It's a pity you you didn't include data where you show how much you lost because you didn't invest in the coins directly. Thanks for the post.
This table doesn't take into account the fact that the price of the coins increased, it is the sum of the payouts I received month by month with the exchange rate at that time.
Exactly, that's the problem. You would have received far more income had you just invested directly in the coins themselves, right?
Thanks for the data!