Practicing mining in these times has become an activity that few can maintain, due to the high costs and maintenance of the equipment, along with the payment of associated electricity and Internet services. That is why this practice has been centralized in few places in the world, where electricity costs are low enough to make mining production profitable. From these difficulties arises what is known as Cloud Mining.
Genesis Mining offers legitimate Bitcoin and altcoin mining with no hidden fees, in completely transparent transactions, and they are now holding help conferences for anyone in the Bitcoin community who wants to learn more about the benefits of crypto.
With Genesis Mining, you can mine ETHER, BTC, LTC, DOGE, DASH, BTCD, UNO and allocate mining whenever you want, giving all the hash power to bitcoins or diversifying the power in each coin.
1. The first thing you need to do is open an account at Genesis Mining, it’s free and you can start your investments whenever you want. In the sidebar on the left we will find all the necessary functions to have total control of our investments.
2. In this step we will invest buying mining power, which is basically buying space on a server and putting it to work for us.
In the menu on the left, select the option “Buy mining energy”, which will show all the options available to invest. We are not going to go into detail on each one, since they vary according to the availability of the moment.
In this case, we will buy a Bitcoin contract with an indefinite duration. We select the amount to invest from the drop-down bar, minimum 30 dollars.
3. Now we will choose the payment method (Credit Card, Bitcoin, Dash, Litecoin, Dogecoin) from the panel on the right.
This part is essential, so we must pay attention. At the top we can enter a promotional code to benefit from a 3% discount on the purchase.
4. In this step, the payment is made with the chosen method, in this case, Bitcoins. You have 30 minutes to do so, or the order is cancelled.
Next we will see the specifications of the contract, where the highlights are the cost of daily maintenance and the total of BTC that we will pay.
Finally, we accept the terms and confirm the order.
5. After a few minutes, you can go to “My orders”, where you can see the purchased mining contract. From the control panel we can see that we are already mining Bitcoins in the cloud.
Genesis Mining has a fascinating feature to spread mining power across various cryptocurrencies. For example, with the purchased contract, we can diversify 50% for Bitcoin mining and the remaining 50% for Litecoin.
You can make all the combinations you can think of to maximize your investment.
Final considerations:
– Mining is a high-risk business and highly depends on the price of cryptocurrencies.
– It is an attractive opportunity to diversify in the cryptocurrency sector.
– Remember to start with a low amount until you understand how the mining business works.