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 the associated electricity and Internet services. That is why this practice has become 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 mining of Bitcoin and altcoins with no hidden fees, in completely transparent transactions, and they are now holding conferences to assist 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 hashing power to bitcoins or diversifying the power in each currency.
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 in buying mining power, which is basically to buy space on a server and make it work for us.
In the menu on the left, select the option “Buy mining energy”, which will display all the options available to invest. We will not go into details 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.
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, we proceed to make the payment with the chosen method, in this case, Bitcoins. You have 30 minutes to do so or the order will be canceled.
Next we will see the specifications of the contract, where the most prominent are the daily maintenance cost and the total 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 dashboard, we can see that we are already mining Bitcoins in the cloud.
Genesis Mining has a fascinating feature to spread the power of mining across various cryptocurrencies. For example, with the acquired 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 thoughts:
– Mining is a high risk business and is highly dependent on the price of cryptocurrencies.
– It is an attractive opportunity to diversify in the cryptocurrency sector.
– Remember to start low until you understand how the mining business works.
