Today we are starting a new trial of Genesis Mining, one of the most reputable cloud mining companies out there.
Genesis Mining has been around for three years and now has over a million members as part of its cryptocurrency mining platform.
You can mine a range of different coins on the platform including Bitcoin, Ethereum, Litecoin, Dash and Monero.
However, at the moment they are sold out of Bitcoin mining contracts as these are understandably very popular. The last time they released Bitcoin mining contracts, they sold out within 2 days, even though the mining won’t actually start until next February.
With the Bitcoin price surging these mining contracts are the most profitable and can return very substantial sums over the term of the contract.
As there are none available at the moment though, the next best thing we believe is to go for a Monero contract.
Monero has been on a tear lately, increasing from $16 per coin at the start of the year up to $140 today, so nearly a 1000% increase.
According to cryptocompare we should be able to at least double or treble our money over the course of the contract and that’s if the price of Monero stays the same. If it increases, our takings could be substantially higher.
There is also the possibility of reinvesting the earnings you make, which although you can’t do directly with Genesis Mining, you can still withdraw your earnings and buy fresh hashing power with them. Although a little cumbersome, it could be well worth it in the long run to really compound your returns.
We plan on also investing in some other mining contracts to diversify our interests, so will probably get going on some Zcash and Ethereum in the near future.
As long as cryptocurrencies continue to hold their value then investments in Genesis Mining could be very profitable in the long run.
As with all crypto investments, there is risk involved so please only invest monies you are willing to lose if you are thinking of investing here. And please do your own research and take suitable professional advice.
We will report back here on a regular basis on how we are doing and how much Monero we are mining, so you can see exactly how our investment is going.
If you are interested in getting involved with Genesis Mining, you can get a 3% discount on your purchase by clicking here and using the code 0yHBEq
Disclaimer: we are not financial advisors and the above article should not be taken as financial advice. Please do your own due diligence and research and take professional financial advice before investing. All cryptocurrencies are risky ventures so please only invest money you can afford to lose.