What is genesis mining ( Cloud mining) ?
Genesis mining is a world leading hashpower providing company for cryptocurrencies, they are most trusted and well known in this business.
Mostly newbies ask why I should invest in genesis mining why not mining by myself? Yes you are right mining is something that is not easy especially if you are new to this business, for mining by yourself you need a proper hardware and electricity and it will cost you around $3000 to $6000 to buy a good machine which will do mining for you. In other hands we got cloud mining which is like buying a hash-power from big companies like "Genesis mining" they will take care of everything and very low fees.
Now here i'll tell you why you should invest in genesis mining, as per their agreement for bitcoin mining, you just buy hashpower once and do mining for life-time.
3% OFF promo for genesis mining ( mX1sLD )
What is life time mining
So life time mining is something where you buy a contract and it will last until you cancel it or there is no more bitcoin, simple and easy you can quit or keep it mining until you want.
How much you can make profit and how long it will take you to get your investment back?
Everything depends on how many TH/s you buy, Lets just say you want to buy 1 TH/s, 1 = 1000 Hash Rate (GH/s).
1 TH/s = 1000 Hash Rate (GH/s)
Price for 1 TH/s is 179.00 USD
Power Cost ($/kWh): 0 USD
Pool Fees : 20-30%
Hardware Costs (USD): Thats the price you bought 1 TH/s at. its going to be $179.00 USD
1 Bitcoin equals $6,897.59
So if we calculate it you will get something like this as a profit.
That's what you get profit, in one year you double your investment + rest if profit you make profit until you keep your contract with them.
I personally bought 10/TH/s which is equals to 10,000 Hash Rate (GH/s) and here is my turn-over looks like.
So around 5-6 months i'll get my money back which I have invested in genesis mining and rest you will be profit.
So now lets talk about why you shouldn't invest in genesis mining or in any other cloud mining company.
Mostly people don't like to invest in because they don't want to wait for 5-6 months to start making profit, they want their money back next day, if you don't have patience you shouldn't be investing in mining as this is not for you, but if you think about long term investment this is best option for you.
That was my personal opinion based on what I have researched or as per my knowledge.
Currently genesis mining is offering 3% OFF if you use this promo code : ( mX1sLD )
Invest now and thanks me later.
Tool I used
https://www.coinwarz.com/calculators/bitcoin-mining-calculator/