Genesis Mining Day #1: Is it a Scam?
I have been investing in cryptocurrencies for some time now. I have always wanted to enter the mining field of cryptos, but it was too technical for me. Then I heard about cloud mining where a company rents you their mining rigs and gives you all the income produced by them. Unfortunately, many of those could mining companies were scams. So, I decided to forget about mining and focus on investing only.
Genesis Mining
Recently I saw a very good post by @trevonjb. He shared a very important (and long) experience with genesis mining. It encouraged me to try it out especially after he said that he went to their sites and saw the mining rigs (or data centers) himself. I decided to give it a try. This my first day experience.
My First Contract
Based on the advice from @trevonjb (thank you Trevon), I bought a contract of X11 mining DASH. The contract cost $500 and gives a hashing power of 100 MH/s. I used the promo code of @trevonjb to get a 3% discount.
I waited for 24 hours...
They mentioned that the payouts are given once every day. So, I was excited waiting to see my first payout, but it did not show up. At first, I thought Genesis-Mining was a scam and I was a victim. Then, I noticed that they have written a message on the dashboard page saying that because I signed up in the middle of the day, my first payment may take a little bit longer. They also mentioned that the first payout would be less than regular because I did not rent the equipment for the whole day. This message calmed me a little bit.
My first payment
The next day, I logged in to see that I got my first payment. It was 0.01798747 DASH. I told myself: it seems that Genesis-mining is not a scam after all. The only problem is that I did not get that payment in my wallet. Why is that ?
Glad to hear that your getting paid. I was thinking about buying genesis mining contract.
Me too. I will post any important update. So, stay tuned.
If you decide to go for it, here's my code to get a good 3% discount ;) JW53Qp
More than likely you did not reach the minimum amount for deposit of DASH...I've been mining with Genesis for about 4 months...every once in a while the screw up and get a day or so behind on payments...but never more than that...and they always have responsive customer service when you have a concern or problem using the site (it was a challenge for me at first with their method to set the mining allocation)... I also have a X 11 contract AND one for ETH and 5 SHA256 contracts (180.00 fiat total when gotten) - with the increase in prices since I started I'm doing real well on each of them.
Thank you @m4ever for sharing your experience. I don't think my problem is because of the minimum amount. Dash (unlike Bitcoin) does not cost much to transfer. Moreover, my first payout is not that small. I think **0.01798747 DASH ** is more than their minimum.
You're a brilliant man! I like your posts!
Thank you @andyx for your kindness. I am pleased you like my posts.
interesting ...waiting for next part.. i am also thinking about mining ..
Thank you @dinsha for your interest. I will try to pass the experience I get to fellow miners.
If you purchased via credit/debit card they will hold your payouts for a month. So you will see them after 30 days, and from that day they will send the profit to your wallet automatically :)
For next time this is my code JW53Qp, I would appreciate a lot if you will use it.
Yes I knew about their policy. That's why I payed with bitcoin.
As for using your promo code, maybe I will.
Im content with genesis. Im not rich but content.
Thank you @admyrer. Can you please share more info about your experience with them?
It seems that different contracts have different results in terms of ROI.