Genesis Mining complete tutorial

Genesis Mining Complete Tutorial

Hello, good morning everyone

Today I'm going to give you guys a complete tutorial on Genesis Mining (https://www.genesis-mining.com)

This company's headoffice is located in Hong Kong, but its farming ops take place in Iceland.

But why was Iceland chosen to be the farm locations? Usually farms are located in China, right?

Yes, most of the mining companies have their operations located in China, because of the operation costs, such as labor and electricity costs. In china, as most of you might know, both are really cheap, and that makes it a really atractive place to put mining farms. On the other hand, uncertity about local laws and regulations are a con on those places.

Genesis mining chose Iceland to operate with the farm because of three simple reasons:

1. Electricity costs - In Iceland, most of the power generated comes from geothermal production (volcanos). Therefore, it makes it a really reliable, abundant and stable source of energy for the country.

2. Laws and regulations - As far as we know, Sweden's policy toward entrepreneurship and companies is really a friendly one, with little (or no) changes at all. Political stability makes it safer to put such a large investment in machinery and such an attractive thing

3. Since Iceland is a really cold place, it's quite easy to regrigerate the machinery (GPU units). They can simply open their warehouse's door and let the nature do all the hard job (that would cost a lot in air conditioning in other places).

How does the company work?

Genesis mining is a paid service, which provide their customers different coins mining packages (such as BTC, ETH, XMR, etc)

Basically what one must do is to sign up to the service (see picture below), select and buy the desired mining package.

The first step is to click on the sign up button

Then, on the next page, one simply puts his/her data according to the picture below.

OBS: Due to the high demand on their products, they are currently not selling new packages.

This company is very serious about taking care of their customers. They only sell packages, when they have the GPU's in stock, or even when thay've already bought the units but they still have their machinery orders in backorder status (pending shipment status).

After the registration is complete, the person will receive an email with further infos on how to activate the profile.

Then, once, you log in to their dashboard, one will have a really friendly (and intuitive) interface to interact with. This is how it looks like:

Then, we have many other options such as:

1. Mining Alocation - In this option, people can configure their miners to mine any coins they offer. Sometimes some restrictions are applied. For instance, if one buys the lifetime BTC mining package, they might allocate their mining power into other coins, but there are some packages that are exclusive to mine one determined coin (I.E: ETH 2 year exclusive mining package). So, before trying to reallocate your mining power, one should carefully choose the mining package that fits his needs. This is how the Mining Allocation screen looks like:

Next section is payout. On this sectoin, theit customers are able to visualize their daily earnings in a simple list. This is how it looks like:

There are some treshold limits they use to make the mining ops profitable (due to the network mining fees). Once this amount is achieved, the payout is automatically made to the wallets registered on the profile settings. Here are their current treshold limits:

Next section is the bonus payout one. On this section, the customer can follow their bonus for the company's affiliate program. The program works only for direct indications (1st level), and it depends on the ammount of salesof hashpower one provides to GM.

On my Account's tab, we have the profile Settings (where you put your personal data, and also register your wallets, so one can get paid).
On this section, the affiliate program is also displayed as shown below:

The person who indicates have a progressive commision based on their first level affilliates as shown below:

The person who buys, has also the opportunity to save some money while buying GM's mining packages. There's a promotion code one can put in the cart before finishing the order. My #promocode (for instance) is: Qx8atu.

This company accepts cryptos as payments (BTC, DASH, DOGE, etc) or one can pay using a credit card. If the person selects this second option (credit card payment), all the daily payouts will be held for 60 days to prevent fraud.
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Well, I guess that's all for now.

Please let me know your thoughts and, if you liked this post, please upvote, resteem it and follow me.

Other posts of this series:

How to build a bulletproof cryptocurrency portfolio (101) - https://steemit.com/cryptocurrency/@aotearoa/how-to-build-a-bulletproof-cryptocurrency-portfolio-101

What is a bulletproof cryptocurrency portfolio and why should you have one? -https://steemit.com/cryptocurrency/@aotearoa/what-is-a-bulletproof-cryptocurrency-portfolio-and-why-should-you-have-one

Which coins I recommend to be stored and their distribution -
https://steemit.com/cryptocurrency/@aotearoa/which-coins-i-recommend-to-be-stored-and-their-distribution

How to pick other promising altcoins - https://steemit.com/cryptocurrency/@aotearoa/how-to-pick-other-promising-coins

What's the mining process, and why is it so important to the bulletproof portfolio strategy? - https://steemit.com/cryptocurrency/@aotearoa/what-s-the-mining-process-and-why-is-it-so-important-to-the-bulletproof-portfolio-strategy

Eobot complete tutorial - https://steemit.com/curation/@aotearoa/eobot-complete-tutorial

The next tutorial will be about Plan-C mining company.

Well, I guess that's all for this post. If you liked this post, please #upvote, #resteem it, and follow me, and I will do the same. Together we can grow #Steemit even stronger!!!

See you!!