Are you searching for Genesis Mining reviews in order to find out what is Genesis-Mining.com, either is Genesis Mining a scam or a legit, either is there any Genesis Mining complaints from its members or not, either is Genesis Mining doing real mining or not, either is Genesis Mining owner detail clear or not and so on? If so, then your search ends here because in this Genesis Mining review we are going to provide you the complete truth about Genesis Mining, both its pros and cons.
What is Genesis Mining?
Genesis Mining is a cloud mining company which is a good concept for everyone who wants to mine their own cryptocurrency like Bitcoins, but haven't any technical knowledge for that. Genesis Mining makes it very easy to mine our own cryptocurrency just by purchasing the contract service with the company. We only need to purchase the contracts/hashing power from the Genesis Mining for which different options are available, from Megahash/second to Gigahash/second, from Ether Mining to Monero Mining. If you don't know which one to choose, then you must know the fact that the bigger one with bigger amount will generate bigger returns. After you purchase the contracts, the data center will host the miner on your behalf and do the mining for you according to the hash power that you have purchased until your contract time period which is normally 2 years in the case of Genesis Mining. So, it is almost like purchasing some ROI plans in HYIP, means just investing and waiting till that money start to generate profits and then withdraw those generated earnings.
But, is Genesis Mining really doing cryptocurrency mining or is there something else?
This is the big question because there are out numbers of fake cloud mining companies which are just a Ponzi scheme. So, it is hard to believe any cloud mining company. That's why we did lots of research on Genesis Mining before we make this review and during that research even we have found that the media like CNBC, Forbes, NewsWeek and so on have also talked about Genesis Mining and have appreciated its founder Marco Streng for his unique idea to launch the cloud mining company.
Well, we don't think anyone will dare to promote scam in reputed news media. But, who knows, money can buy lots of things after all. But also, having positive posts in news media sites is one kind of achievement for any kind of online businesses. So, this adds plus point to the Genesis Mining.
Genesis Mining has also able to provide the positive testimonials from reputed personnels such as from Jing Wei, CEO of MinerEU; Terry Li, CEO of Zeus; Alex, VP of business development from Innosilicon and so on. So, we don't think those personnels will try to back up scam company. But, those are the testimonials within the Genesis Mining website itself. However, if those testimonials were fake, we think those personnels would have already filed a lawsuit against Genesis Mining. But, we didn't find any legal warnings against Genesis Mining till date even when company is running from 2014. Right now when we are making this review, it is 2017 already. So, if some company manages to pay on time from such a long time to its members without having any legal issues, then we must believe that company is doing something good.
More than that, if it was running like a Ponzi scheme, then it should has been shutdown by now because most of the Ponzi schemes die within a year, specially fake cloud mining companies, but Genesis Mining is sustaining from 2014 and even not sharing the huge profits, only sharing the believable profit margins which can be actually generated from real cryptocurrency minings. So, this adds another plus point for the Genesis Mining.
The rate of affiliate commission that Genesis Mining has provided is also very sustainable rate which is around 3%. That will definitely doesn't add any burden to any legit cloud mining company.
Another plus point of Genesis Mining is its owner details which is very clear. You can find out in their website that Marco Streng is listed as Co-founder/CEO of Genesis Group, Jakov Dolic as Head of Sales/Co-founder, Dr. Marco Krohn as Co-founder/CFO of Genesis Group and Stefan Schindler as CTO. Jakov Dolic is also listed as an owner of Genesis Mining within WHOIS details. In their website, even they have provided the video of their data centers with location details.
Conclusion
Although we have found lots of positive points on Genesis Mining, but also we still don't dare to list it within our Good and Trusted Online Works because the business model of cloud mining is still not proven to be sustainable or legal. So, still we can't guarantee how much it can be sustainable and concerned authorities will legalize it or not. But, if we only consider about cloud mining businesses, then Genesis Mining is definitely the good cloud mining business that we ever have found. However, every business have complaints and you can find lots of complaints against Genesis Mining as well. Most of them are about low earnings, such as 150% in about 8 months. But, real mining only can generate that much ROI, even less if Bitcoins/cryptocurrencies price decreases. Actually, we should take these low earnings as a positive way because only HYIP/Ponzi schemes can pay back high rate of return, but collapse within some months. The real companies can pay back few profits like Genesis Mining is paying back. So, instead of taking those complaints in consideration, we take those as a positive points of Genesis Mining.