Skip to main content

How To Do Cloud Mining Using Genesis Mining

Practicing mining these times has become an activity that few can maintain, due to the high costs and maintenance of equipment, along with the payment of associated services of electricity and Internet. 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 altcoins mining without hidden charges, in completely transparent transactions, and now they are performing aid conferences to anyone in the Bitcoin community who wants to learn more about the benefits of cryptography.

With Genesis Mining, you can mine ETHER, BTC, LTC, DOGE, DASH, BTCD, UNO and assign mining whenever you want, giving all hash power to bitcoins or diversify power in each coin.

1. The first thing to do is open an account at Genesis Mining, it is 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 full control of our investments.

2. In this step, we will invest by buying mining power, which is basically to buy space on a server and make it work for us.

From the menu on the left, select the option "Buy mining power", which will show all the available options to invest. We will not go into detail in each one, as they vary according to the availability of the moment.

In this case, we will buy a Bitcoin contract with indefinite duration. We select the amount to invest from the drop down bar, minimum 30 dollars.

3. Now we will choose the payment form (Credit Card, Bitcoin, Dash, Litecoin, Dogecoin) from the panel on the right.

This part is essential, so we should pay attention. At the top, we can enter a promotional code to benefit from a discount of 3% on the purchase.

4. In this step, we proceed to make the payment with the chosen method, in this case, Bitcoins. You have 30 minutes to do it, or the order gets cancelled.

Below we will see the specifications of the contract, where the most outstanding are the daily maintenance cost and the total BTC 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 view 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 function to distribute the mining power in several cryptocurrencies. For example, with the contract purchased, we can diversify 50% for Bitcoin mining, and the remaining 50% for Litecoin.

You can make all the combinations you can think of to maximise your investment.

Final Considerations:

- Mining is a high-risk business and is highly dependent on the price of the cryptocoins.

- It is an attractive opportunity to diversify in the crypto currencies sector.

- Remember to start with a low amount until you understand how the mining business works.




Source by Sujoy Mukherji

Popular posts from this blog

The Basics of Cryptocurrency and the Way It Works

In the times that we're living in, technology has made unbelievable advancement as compared to any time in the past. This evolution has redefined the life of man on almost every aspect. In fact, this evolution is an ongoing process and thus, human life on earth is improving constantly day in and day out. One of the latest inclusions in this aspect is cryptocurrencies.Cryptocurrency is nothing but digital currency, which has been designed to impose security and anonymity in online monetary transactions. It uses cryptographic encryption to both generate currency and verify transactions. The new coins are created by a process called mining, whereas the transactions are recorded in a public ledger, which is called the Transaction Block Chain.Little backtrackEvolution of cryptocurrency is mainly attributed to the virtual world of the web and involves the procedure of transforming legible information into a code, which is almost uncrackable. Thus, it becomes easier to track purchases an…

Forex MegaDroid - The Trading Robot That Applies Two Trading Strategies

It is important for novice traders to gain the basic knowledge of Forex trading at the very beginning of their attempts. After you get the rough ideas of what those charts, tables and axis mean, then you should study in details about which trading style suits you the most. Currency trading involves completely different styles. People should opt for their own strategies, but basically there are two primary types of analysis: the technical and the fundamental. A few traders would choose one of the two, some will combine them, others just follow what the robot tells them. Forex Megadroid belongs one of the few automated programs that applies both trading strategies. Forex traders who choose to use technical analysis always base their analyzes on the currency market trend. They read charts and recognize the common patterns for the price movement. Different traders may employ various reporting system to make the analysis easy to read or update. For the users of technical analys…

Virtual Currency Games

Every little boy's (and many grown men's) dream of making a living by playing video games is edging closer to reality. The recent release of HunterCoin and the in-development VoidSpace, games which reward players in digital currency rather than virtual princesses or gold stars point towards a future where one's ranking on a scoreboard could be rewarded in dollars, and sterling, euros and yen.The story of the millionaire (virtual) real estate agent... Digital currencies have been slowly gaining in maturity both in terms of their functionality and the financial infrastructure that enables them to be used as a credible alternative to non-virtual fiat currency. Though Bitcoin, the 1st and most well known of the crypto-currencies was created in 2009 there have been forms of virtual currencies used in video games for more than 15 years. 1997's Ultima Online was the first notable attempt to incorporate a large scale virtual economy in a game. Players could collect gold coins …