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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.