Genesis Mining start Bitcoin mining today - scam reviews

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What is Genesis Mining

Cloud mining service Genesis Mining
Genesis Mining

‒ a popular cloud mining service, which for 6 years now has been allowing users to mine cryptocurrency without purchasing special mining equipment.

The service offers users mining Bitcoin, Ethereum, Monero, Dash and other popular coins.

Genesis Mining has been operating since 2014 and is one of the first companies to provide cloud mining services.

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According to official data, the Genesis Mining service serves more than 2 million clients from more than 100 countries.

The company's computing facilities are located in Iceland and Sweden. At the same time, 7 more data centers are at the creation stage, the location of which is still classified, but if unofficial data is to be believed, one of them should soon open in Kazakhstan.

Genesis Mining Official Website

The founders of Genesis Mining (former fans of cryptocurrencies) promote transparent business, which earns them a high rating among the Bitcoin community.

The company's CEO, Marco Streng, and two other like-minded people, began building their business by installing a small mining farm in the workshop of one of the villages in Bosnia, and already in 2015 they opened their first data center in Iceland, where tens of thousands of pieces of equipment are now located for mining cryptocurrencies.

Marco Strang – CEO of Genesis Mining

Trust from users is also due to the cooperation of Genesis Mining with a large manufacturer of mining equipment, Spondoolies-Tech, which also has a crystal reputation. Close contact between these companies not only provides significant discounts on the purchase of mining equipment, but also gives confidence that the company is provided with the capacity to mine coins.

General provisions

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2.3. This Privacy Policy applies to the Antiobman.com Project website. Antiobman.com does not control and is not responsible for third party sites that the User can access via links available on the Antiobman.com Project website.

2.4. The Administration does not verify the accuracy of the personal data provided by the User.

Conclusion about the project

Throwing mud at the Genesis Mining project, which regularly paid interest to its investors and then stopped, is still unfair. Many users who allegedly bought power on the site earned very good interest. Well, those who entered cloud mining later suffered losses.

And therefore, you should understand that cloud mining is also one of the existing financial pyramids, only aimed at a completely new cryptocurrency industry. And you can make money in such high-quality pseudo-investment projects, but only if you entered at the beginning of the resource’s work or at least in the middle.

If you did not do this, then you are late, and therefore avoid this project. Here you definitely won’t get money, but only lose it, because the pyramid has already collapsed.

Subject of the privacy policy

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Cookie technologies

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Cookie Policy

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Rights

You have the right to access or obtain a copy of the personal data we hold about you. To do this, contact us. If you believe that the information we have about you is incomplete or inaccurate, you can ask us to supplement or correct this information.

You also have the right to request erasure of your personal data. Please contact us if you would like us to delete your personal data.

Personal account overview

Let's go through the sections of your Genesis Mining personal account.

DASHBOARD (Main panel). All information about purchased contracts and the mining process is collected here.

MINING ALLOCATION. You can distribute the existing hashrate among the desired cryptocurrencies. By default, each mining algorithm is configured to mine a specific cryptocurrency. For algorithms that cannot directly mine Bitcoin, the system setting of “auto” is applied. You can manually select the desired power distribution and save the changes.

ACTIVITY. Activity – information about earnings and withdrawals, that is, incoming and outgoing transactions.

REFERRAL REWARDS. Everything about your referrals and the income you receive from them. Genesis mining provides each user with a unique promotional code. You can share it anywhere - Twitter, VK, forums. When a referral uses a promotional code, he will receive a 3% discount on the purchase of a contract, and the referrer will receive some bonus to the available capacity.

At the initial rank this is 2.5% of capacity. Ranks increase as the number of referrals increases. Only people invited in the last hundred days are taken into account.

ACCOUNT – Settings (My account – Settings). Here you fill in your personal information (name, surname, phone number). Two-factor authentication is also activated here, you can change your account password and link wallets.

ACCOUNT – Affiliate (My account – Referrals). A reward system where you can receive Bitcoins for referrals instead of power. The reward level is also determined based on the current rank. The referral reward will be transferred to the same address that is used for everyday mining. If the wallet has not yet been added, then the rewards will simply accumulate to be withdrawn later. You cannot exchange hash power for Bitcoins or vice versa.

ACCOUNT – Contact customer service (My account – Contact customer service). Drawing up an application for technical support of the Genesis Mining website.

MY ORDERS (My orders). Expected mining balance for all available types of cryptocurrencies.

BUY HASHPOWER (Buy generated power). Acquisition of a new contract.

Purposes for collecting user personal information

4.1. The Administration may use the User’s personal data for the following purposes: 4.1.1. Identification of the User registered on the Antiobman.com Project website for his further authorization. 4.1.2. Providing the User with access to personalized data from the Antiobman.com Project website. 4.1.3. Establishing feedback with the User, including sending notifications, requests regarding the use of the Antiobman.com Project website, processing requests and applications from the User. 4.1.4. Determining the location of the User to ensure security and prevent fraud. 4.1.5. Confirmation of the accuracy and completeness of personal data provided by the User. 4.1.6. Creating an account to use parts of the Antiobman.com Project website, if the User has agreed to create an account. 4.1.7. Notifications to the User by email. 4.1.8. Providing the User with effective technical support if problems arise related to the use of the Antiobman.com Project website. 4.1.9. Providing the User, with his consent, with special offers, newsletters and other information on behalf of the Antiobman.com Project website.

Advantages and disadvantages

pros

• Genesis Mining allows you to mine a wide range of cryptocurrencies.
• The power distribution function makes it possible to always mine the most profitable coins.
• Easy payment, many deposit methods.
• Automatic daily withdrawal of funds.
• Strong team.
• Environmental friendliness - the data center runs on geothermal energy.

Minuses

• Little flexibility in settings. Essentially, you can only choose the power distribution, and nothing else.
• Promotional codes are distributed by people who have great influence in the field of cryptocurrencies. Accordingly, most of the referrals accumulate around them.

5. Methods and terms for processing personal information

5.1. The processing of the User's personal data is carried out without a time limit, in any legal way, including in personal data information systems using automation tools or without the use of such tools.

5.2. The User’s personal data may be transferred to authorized government bodies of the Russian Federation only on the grounds and in the manner established by the legislation of the Russian Federation.

5.3. In the event of loss or disclosure of personal data, the Administration has the right not to inform the User about the loss or disclosure of personal data.

5.4. The Administration takes the necessary organizational and technical measures to protect the User’s personal information from unauthorized or accidental access, destruction, modification, blocking, copying, distribution, as well as from other unlawful actions of third parties.

5.5. The Administration, together with the User, takes all necessary measures to prevent losses or other negative consequences caused by the loss or disclosure of the User’s personal data.

Contracts and cryptocurrencies: plans and hashrate costs

Genesin Mining allows you to mine the following cryptocurrencies : Bitcoin, Ethereum, Dash, Monero, Litecoin, Zcash, using their corresponding algorithms. For each currency there are several subtypes of contracts:

• For Bitcoin: Radiant Classic (Gold, Platinum, Diamond - they differ in the amount of power purchased) and Radiant Zero (no service fee, but the contract price itself is higher).

• For Dash: Radiant Gemini, Radiant Ferox, Radiant Graviton.

• For Ethereum: Radiant Small, Radiant Medium, Radiant Large.
• For Litecoin: Radiant (Gold, Platinum, Diamond).
• For Monero: Blaine, Dynamo, Houdini - they differ in the amount of power.
• For Zcash: Starter, Advanced, Professional.

In addition, for each cryptocurrency you can set up cloud mining on your own terms.

Certain contracts periodically become unavailable. As of May 17, 2019, the following mining contracts are available on the algorithms: Sha-256 for Bitcoin mining (Gold and Individual plans); X-11 - for DASH cryptocurrency.

Rights and obligations of the parties

6.1. The user has the right:

6.1.1. Make a free decision to provide your personal data necessary to use the Antiobman.com Project website and consent to their processing.

6.1.2. Update, supplement the provided information about personal data if this information changes.

6.1.3. The user has the right to receive from the Administration information regarding the processing of his personal data, unless such right is limited in accordance with federal laws. The user has the right to demand from the Administration clarification of his personal data, blocking or destruction of it if the personal data is incomplete, outdated, inaccurate, illegally obtained or is not necessary for the stated purpose of processing, as well as take measures provided by law to protect his rights. To do this, it is enough to notify the Administration at the specified E-mail address.

6.2. The administration is obliged:

6.2.1. Use the information received solely for the purposes specified in clause 4 of this Privacy Policy.

6.2.2. Ensure that confidential information is kept secret, not disclosed without the prior written permission of the User, and also not sell, exchange, publish, or disclose in other possible ways the transferred personal data of the User, with the exception of paragraphs. 5.2. of this Privacy Policy.

6.2.3. Take precautions to protect the confidentiality of the User's personal data in accordance with the procedure usually used to protect this type of information in existing business transactions.

6.2.4. Block personal data relating to the relevant User from the moment of application or request from the User, or his legal representative or the authorized body for the protection of the rights of personal data subjects for the period of verification, in the event of detection of unreliable personal data or unlawful actions.

Comparison of the three leading cloud mining services

For comparison, we selected 3 cloud mining services that have been offering their services on the market for several years:

• Genesis Mining
• HashFlare
• Hashing24

For the most visual representation, we will summarize all the data in a table, on the basis of which we will draw our conclusions. Exchange rates and mining profitability are current as of June 28, 2022.

Comparison of Bitcoin contracts

Contracts for the purchase of Bitcoin mining capacity offer average returns by today's standards. The main advantage of purchasing such contracts is a perpetual contract and more predictable prices for the main cryptocurrency Bitcoin. The most favorable conditions for purchasing such contracts are offered by the Genesis Mining service with a yield of 173%, subject to the purchase of a maximum package worth 1950 USD. If you have a lower budget for purchases, you should pay attention to HashFlare contracts.

Comparison of contracts on ETHEREUM

Purchasing HashFlare contracts looks the most attractive in terms of profitability and the minimum contract price, however, the contract from HashFlare is concluded for a period of only 1 year, versus 2 years for Genesis.

Comparison of Scrypt contracts

Genesis mining for Scrypt contracts offers maximum profitability for a period of 2 years, however, at the moment, all capacities on Genesis have already been sold out. As an alternative, you can consider purchasing a Scrypt contract from HashFlare with a yield of 190% per annum and a perpetual contract.

Dash Contract Comparison

The situation with the profitability of DASH contracts is approximately the same as with Script contracts, where Genesis offers greater profitability for a longer contract period. But all capacity is also sold out. Only a contract from HashFlare with a yield of 189% for a period of 1 year is available for purchase.

Comparison of Monero contracts

Monero cloud mining is offered only by Genesis with a 2-year contract, but the profitability of purchasing such contracts is now the least profitable of all the options.

Responsibility of the parties

7.1. The Administration, which has not fulfilled its obligations, is responsible for losses incurred by the User in connection with the unlawful use of personal data, in accordance with the legislation of the Russian Federation, except for the cases provided for in paragraphs. 5.2. and 7.2. of this Privacy Policy.

7.2. In case of loss or disclosure of Confidential Information, the Administration is not responsible if this confidential information: 7.2.1. Became public domain until it was lost or disclosed. 7.2.2. Was received from a third party before it was received by the Resource Administration. 7.2.3. Was disclosed with the consent of the User.

7.3. The user bears full responsibility for compliance with the requirements of the legislation of the Russian Federation, including laws on advertising, on the protection of copyright and related rights, on the protection of trademarks and service marks, but not limited to the above, including full responsibility for the content and form of materials.

7.4. The user acknowledges that responsibility for any information (including, but not limited to: data files, texts, etc.) to which he may have access as part of the Antiobman.com Project website lies with the person who provided such information .

7.5. The User agrees that the information provided to him as part of the Antiobman.com Project website may be an object of intellectual property, the rights to which are protected and owned by other Users, partners or advertisers who post such information on the Antiobman.com Project website. The User may not modify, rent, loan, sell, distribute or create derivative works based on such Content (in whole or in part), unless such actions have been expressly authorized in writing by the owners of such Content in accordance with terms of a separate agreement.

7.6. In relation to text materials (articles, publications that are in free public access on the Antiobman.com Project website), their distribution is permitted provided that a link to Antiobman.com is provided.

7.7. The Administration is not liable to the User for any loss or damage incurred by the User as a result of the deletion, failure or inability to save any Content and other communication data contained on the Antiobman.com Project website or transmitted through it.

7.8. The administration is not responsible for any direct or indirect losses resulting from: the use or inability to use the site or individual services; unauthorized access to the User's communications; statements or conduct of any third party on the Site.

7.9. The administration is not responsible for any information posted by the user on the Antiobman.com Project website, including, but not limited to: information protected by copyright, without the express consent of the copyright owner.

Features of Genesis Mining

Features of working with the Genesis Mining pool
In a competitive market, each cloud mining service tries to offer users the most profitable products and interesting options. Below we will look at what special Genesis Mining can offer us.

Contracts

The site provides the opportunity to purchase contracts for mining Bitcoin, Monero, Ethereum, Dash, Litecoin, Zcash. For each cryptocurrency, several subtypes of contracts are offered, which differ in terms (6, 12, 24 months), hashrate and cost.

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In most cases, users are offered contracts for 24 months.

Prices depend on hashrate. The more expensive the contract, the more profitable the price of 1 unit of power.

The minimum contract value for Genesis Mining is $28 (Litecoin), and the maximum is $7650 (ZCash).

In addition, you can use the “Individual Plan” option. Using the slider, you can determine the desired hashrate, select the cost and thus form an individual contract. The option is available for any cryptocurrency.

For each type of contract, a detailed description is provided (the “Plan Details” button) and reviews from miners.

Contracts for Genesis Mining

It is worth noting that due to increased demand, some types of Genesis Mining contracts may be unavailable for purchase from time to time.

Thus, as of February 2022, Genesis Mining offers contracts only for mining Bitcoin (for 24 months) and Dash (for 12 and 24 months).

Below is their detailed description.

Bitcoin contracts

Bitcoin Radiant Classic 24

: provides a commission of $0.03 per TH/s per day. Fees are deducted from daily payouts in BTC terms. The minimum cost is $218.

Cost of Radiant Classic 24 contracts for mining Bitcoin
Bitcoin Radiant Zero 24:

does not have a service fee, but at the same time has a higher cost. The minimum cost is $225.

Cost of Radiant Zero 24 contracts for Bitcoin mining

Dash Contracts

Dash Radiant Classic 12 and 24:

commission $0.000005 per MH/s per day. The fee is charged daily for the duration of the contract in Dash terms. The minimum cost is $202.

The cost of Radiant Classic 24 contracts for mining Dash
Dash Radiant Zero 12 and 24:

does not have a service fee, but at the same time has a higher cost. The minimum cost is $202.

Radiant Zero 24 contract prices for Dash mining
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A full description of Genesis Mining contracts and their prices can be found here.

Capacity distribution

One of the distinctive features of the Genesis Mining service is the power distribution option. Thanks to this option, the user can direct all purchased power to mining one cryptocurrency or divide the hashrate between several cryptocurrencies.

Manual power distribution allows miners to promptly respond to changes in cryptocurrency profitability indicators and take appropriate actions to maximize profits.

After purchasing a contract, the user can distribute power through the appropriate section of his personal account. The setup process is quite simple. To change the power percentage, use pie charts.

Capacity distribution at Genesis Mining

Below is a comparison table of cryptocurrencies that can be simultaneously mined at Genesis Mining. As you can see, the availability of cryptocurrencies depends on the algorithm.

Cryptocurrency mining depending on the algorithm

Commissions

Most Genesis Mining contracts do not provide for additional commissions and fees. But some products still come with a service fee.

The commission is set in dollars, but is calculated in terms of the selected cryptocurrency. Information about the presence of additional commissions and fees can be found in the description of each contract.

Currently, Genesis Mining has established additional commissions for the following contracts:

• Bitcoin Radiant Classic 24 – $0.03 per TH/s per day;
• Bitcoin Radiant Classic 6 – $0.06 per TH/s per day;
• Dash Radiant Classic (12 and 24) – $0.000005 per MH/s per day;
• Ethereum – $0.004 per MH/s per day.

Mining Litecoin, Monero and Zcash is carried out without commissions.

Dispute Resolution

8.1. Before filing a claim in court regarding disputes arising from the relationship between the User and the Administration, it is mandatory to submit a claim (a written proposal or an electronic proposal for a voluntary settlement of the dispute).

8.2. The recipient of the claim, within 30 calendar days from the date of receipt of the claim, notifies the claimant in writing or electronically of the results of consideration of the claim.

8.3. If an agreement is not reached, the dispute will be referred to the Moscow Arbitration Court.

8.4. The current legislation of the Russian Federation applies to this Privacy Policy and the relationship between the User and the Administration.

Power distribution

This function is considered a distinctive feature of the service.
You can leave all purchased capacities in one currency, or you can divide them into several at once. The distribution is carried out in the Genesis Mining personal account, the process itself is very easy - on intuitive pie charts. Don't neglect this opportunity if you are interested in maximizing your profits.

Denial of responsibility. Terms of use of the site

The website https://antiobman.com (hereinafter referred to as the “site” or project) publishes reviews of various projects. Articles on financial and related topics are also published.

The Internet is insidious, there is a lot of deception in it! All articles published on the project are the personal opinion of the authors of these articles! It is not recommended to switch to a project under review and invest money without thinking, especially if it is a negative article!

The site also has positive reviews of this or that project (site, course, service) - editors, copywriters and the administration of the site https://antiobman.com posted a review on the site for informational purposes! This is not an exact guide or instructions for action!

If you decide to invest your funds, we do not recommend investing all your money! For example, investment projects can close at any time - take this into account when investing your funds!!

Remember, only you are responsible for your money and your well-being! All your actions are based on your personal decision and are not our call to action. Therefore, we cannot be held responsible for possible risks incurred by you!

• We do not guarantee 100% earnings on the Internet! This site and the reviews on it are not a 100% guarantee of your earnings! The site has educational materials compiled by the administration (training courses, articles) - expected earnings are possible with 100% compliance with instructions and hard work and with a “successful situation” of the economy and the market as a whole! Luck also has a big influence!
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• The site uses cookie technology, which allows you to identify the user and improve the operation of the site, in particular determining the user's preferences. By using the site, the user agrees to the use of cookie technology by the site.
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If you are the owner of a website or project that has been unfairly written a negative review, write to us by email: We will try to correct the text of the review as soon as possible!

Reviews and articles do not have the goal of denigrating any project; they are for informational purposes only!

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All disputes are resolved as soon as possible by contacting the post office

We work for you! We appreciate your trust!

Profitability and payback of Genesis Mining

How profitable is it to use Genesis Mining
? In order to fully analyze how profitable mining will be under certain conditions, simply making calculations will not be enough. Let's look at an example.

For example, let's take the calculation of profit from Bitcoin mining obtained in the previous section. In this case, the calculations used the conditions of Bitcoin Radiant Classic 24 Platinum, which offers a hashrate of 19 TH/s for $985.5.

Calculation of contract profitability
Mining profitability is displayed in the “Rev.$” column. We need a profit indicator for the day, so we pay attention to the value in the “Day” line.

The contract provides for a commission of $0.03 per TH/s per day, accordingly we need to reduce daily income by this amount.

To get the real amount of income, we make simple calculations:

• 19*$0.03 = $0.57 – daily commission amount;
• $2.74 – $0.57 = $2.17 – daily mining income.

Thus, the return on investment for the Bitcoin Radiant Classic 24 Platinum contract is approximately 15 months. In this case, the return on investment will be about 60%.

If we take the DASH Radiant Classic 24 contract for comparison, then after performing the same calculations, we will get a net income of $2.69/day and a payback of about 17 months. The return on investment in DASH mining will be 45%.

It is worth noting that this is not the best result that could be obtained from mining, but still quite good. Especially when it comes to equipment rental. In this case, you simply pay for the contract and see how your wallet is replenished with coins.

It is also important to note here that the calculations performed are indicative and do not guarantee the receipt of the indicated profit. The cryptocurrency market is very volatile, therefore, changes in the cryptocurrency rate, network complexity and other parameters directly affect your profitability.

What do you need to know before starting cooperation?

1. A long-term contract is not a guarantee of high profits. If you have signed a contract for a certain amount of computing power, then after a year this volume will not be able to generate the same income as at the beginning of the contract, due to the increase in the complexity of calculations, which occurs regularly.
2. The concluded agreement contains a clause, by agreeing with which, you accept the condition under which the money invested by you cannot be returned. In this case, the service provider can unilaterally terminate the contract and stop providing services, that is, deprive you of profit and keep the money for yourself.
3. The company's legal address is located in Hong Kong, which is an offshore zone for the Russian Federation and a number of other countries. Thus, even if legal agreements are violated, investigative authorities will not be able to take any investigative actions against the company itself and its employees.
4. There is an opportunity to increase your income. For this purpose, there is an affiliate program to attract referrals. All you need to do is bring users to the service who will become regular customers. To do this, they must register using your link. For them you will receive additional bonuses in the form of a percentage of their profits.
5. You can simultaneously mine several types of cryptocurrency, distributing computing power in a convenient interface. According to the creators of the service, due to this architecture, where changes can be made in real time, viewing accumulated funds is impossible. Therefore, you can find out your earnings only when you receive a payment to your wallet.