When people first heard of Bitcoin, they quickly wrote it off as a crazy technological bubble without a future. However, the cryptocurrency did not show any signs of slowing down but rather, showed all the signs of a brighter future. As many people saw how the cryptocurrency could be worth in the future, they rushed to get their hands on Bitcoin.
The rush for Bitcoin brings the gold rush to mind. The people quickly realized that just like gold, Bitcoin also had to be mined, albeit digitally. Bitcoin mining is not an easy thing. It is a complicated process that requires a lot of computing power — something that some individuals do not have. The workaround to this is cloud mining.
Not many people have the technical know-how to set up mining equipment or software while others cannot afford the expensive cost of setting up a personal Bitcoin mining center. This is where cloud mining comes into effect. Cloud mining is simply the ability to mine Bitcoin or any other cryptocurrency without the need to own mining equipment.
In short, it has been regarded as an intelligent alternative to individual mining. Think of a cloud mining service provider as a public company that sells its shares to the public in the form of mining power. The higher the mining power you buy, the higher the shares you receive. In essence, you are signing a contract with a cloud mining service provider to use its mining power in exchange for splitting the profits that you make.
There are so many cloud mining service providers out there. Although the only thing they have in common is that they offer cryptocurrency mining, their services and charges are different. This is a reason why you should choose the best cloud mining service provider in order to make the best profits possible. The Hashflare vs Genesis mining match is on and we give you some in-depth information about the two cloud mining services.
Hashflare data centers are lined up with a huge number of miners. Hashflare offers the following five cloud options to choose from:
Each cloud offers a year contract but the costs vary. Major differences lie in the hash rate, maintenance fee, and hardware type.
Zcash cloud mining is the cheapest and costs only $2 while Scrypt cloud mining is the most expensive and cost $7.50. After you have decided on your cloud, you click on it and are taken to a window where you have to input your details so that you can make your payment. Once the payment is made and confirmed, you can start the mining process immediately without any waiting period.
There are several pools that are linked to Hashflare’s miners. All you have to do is to look at all the available pools and choose the one that is the most appealing to you. You are given all the mining statistics in real time from anywhere in the world. The fees are fixed and there is nothing hidden from you. You can receive your first payment after 24 hours of confirmation on the cloud. The profits made are shared in a fashion similar to that of a public company.
The cryptocurrency is shared to all members according to their shares.
If you want to learn more about Hashflare mining and how you can maximize your profits, you can search for «Hashflare Facebook» on YouTube. You will find several videos that will show how to navigate the Hashflare.io website and make more money.
Genesis is a relatively young company founded in 2013. The founders met on a Bitcoin buying and selling platform and their common goal lead to the founding of the cloud mining services.
Apart from Bitcoin, Genesis mining also allows you to mine Altcoins. The company runs regular promotions aimed at increasing the hash rates of its customers. This is one of the company’s ways of keeping customers loyal to them. The company’s affiliation program can see you receive special upgrades just for inviting your friends to the platform.
You can choose any of the several packages that the company offers and it still guarantees you that you will make a profit. The payouts instant as you don’t have to wait long in order to reserve your first payment.
People expect a winner whenever there is a matchup. Both mining companies seem to offer similar services. You can quickly make withdrawals your Bitcoin wallet. However, when considering what several customers have to say and a few other technicalities, we can safely say that Hashflare.io is the winner. We recommend it over Genesis.