Genesis Mining ROI and Other Updates

Cloud Mining on Genesis

Cloud Mining Malaysia

As promised, here’s an update on my 2-year Dash(x11) mining contract with Genesis Mining. But first, I’d like to thank everyone for the love and using my promo code – KT7r1S (it gives you a 3% discount upon purchase by the way).

If you’re perplexed and utterly confused by everything I’ve just said, head over to my previous post – Bitcoin Cloud Mining in Malaysia.

Now, the update!

ROI on Genesis – Cloud Mining Dash (x11)

Genesis Mining Dash x11 Payout
Genesis Mining Dash x11 Payout

I’ll be using the payout on 20th July because the one on 19th includes mining from when I signed up on the 18th.

As of right now, Dash is valued at USD 186.69. That gives me about USD 0.247 per day and USD 90.29 per annum from mining. I spent USD 93.20 purchasing the 2 year contract. That’s an ROI of around 96.8% pa.

Of course, all this is provided the price and mining difficulty remain constant. Which won’t.

Now, this ROI will increase when I purchase the USD500 contract as you get more MH/s per USD. I’m limited to the current one because Genesis has a USD per day limit for Dash x11 contracts (due to the huge demand). Nevertheless, I’ve still been adding and purchasing more Dash mining contracts because I do see Dash’s potential in the future.

I’m really loving Ethereum as well. I’ll be adding more mining power for Ether next month. For now, I’ve been slowly accumulating Dash (x11) and I’m currently almost reaching 50 MH/s. Still waiting for their USD100 per day limit to be lifted so I can get that USD500 for 100MH/s contract.

With the promo code – KT7r1S , I’ll be paying USD485 for 100MH/s. This will be the most value for money in terms of dollars paid per MH/s.

Storing my Coins

Because I’m mining alternative coins like Dash (x11) and Ethereum, I opted to store them on a multi wallet. I use ExodusTheir UI is awesome.

So after transferring and storing my alt coins on Exodus, I’ll then move it to a more local (Malaysian friendly wallet) – Luno.

Enter my promo code: HFCCY.  You can still enter the code after signing up. Inside your account as shown in the picture below. We will both benefit from this. It isn’t much, after buying RM250 or more on the site, we will both get RM5. It’s something.

Luno Promo code - HFCCY
Luno Promo Code – HFCCY

End.

As mentioned earlier, the next big purchase would be Dash (x11)’s USD485 for 100MH/s mining contract. Thereinafter, I’ll be focusing on Ether mining and then reinvesting my returns. In the long run, turning my alternative coins into Bitcoins will be the goal. From there, it’s long term holding of Bitcoin. I’ll have to get used to holding an asset that doesn’t pay interest.

All that being said, the Freedom Fund is doing really well. Hopefully, this exciting little mining venture will pay off in the next 2 years and provide additional funds to be invested in stocks.

Have you purchased any mining contracts with Genesis Mining or are planning to? Hope to hear from my fellow miners. Use promo code – KT7r1S for a small 3% discount.

A warning to everyone, cryptocurrencies in and of itself are extremely volatile and risky. Cloud mining adds to that risk because you’re placing your money with a company and trusting them to continue mining for the foreseeable future. As always, invest at your own risk!

13 thoughts on “Genesis Mining ROI and Other Updates

      • Hi Leigh,

        I had transferred Dash from Genesis to Exodus and now i can see value in Exodus.
        How to do i transfer Exodus to my bank account?
        Thanks,

        • Hey Janst,

          You’ll have to sell your Dash on an exchange before you can convert it to cold hard cash. Exodus is merely a wallet.
          As my plans are to hold my currencies for a very long time, I haven’t really got the chance to explore exchanges.

          Hope this helped!

      • Hi Leigh,
        I had transferred Dash from Genesis to Exodus and now i can see value in Exodus.
        How do i transfer the money from Exodus to my local mbb account?
        Thanks,

  1. Hi bro it’s me again. Speaking of which, BTC price has been going up and down A LOT! If you would look into how to trade with BTC or any other currencies, it would be even better for the long run (just don’t get your fingers burnt!)
    And do you plan to do some ICO (Initial Coin Offering) reviews, since you’re into Cryptocurrencies now?

    Cheers!

    • Hey John,

      ICOs are way too risky for me. Even investing in Dash, I consider a risky move. I’ll instead be buying more Bitcoin mining contracts soon. They’re open ended and if it takes the world by storm, the prices will only go up.

      How’re yours doing?

  2. HI there, thanks for sharing this with us, I’ve signed up for the 90USD contract and have gotten 0.02166884 of DASH so far but in the payout section it is mentioned that there is ‘no payout so far’. Any idea how to transfer my earnings so far into a wallet?

    Thanks,
    Arif

    • Hi Arif,

      Hmmm, if I remember correctly, the payouts will only appear after a few days from your first transaction. And for credit card payments, you’ll get it after a month? I’ve got to read the T&C again to be absolutely certain.

      How’s your returns so far?

  3. Hi Divvy,

    Thanks for your review on Genesis Mining.

    After reading your blog, I placed a USD1000 on BTC mining with Genesis, using your code ofcoz!

    Here are my earning from 4th of Aug til today:
    sha256 BTC balance of 0.00151708 added to your account on 2017-08-12T12:00:00+00:00
    sha256 BTC balance of 0.00151051 added to your account on 2017-08-11T12:00:00+00:00
    sha256 BTC balance of 0.00150396 added to your account on 2017-08-10T12:00:00+00:00
    sha256 BTC balance of 0.00157145 added to your account on 2017-08-09T12:00:00+00:00
    sha256 BTC balance of 0.00159955 added to your account on 2017-08-08T12:00:00+00:00
    sha256 BTC balance of 0.00159178 added to your account on 2017-08-07T12:00:00+00:00
    sha256 BTC balance of 0.00159907 added to your account on 2017-08-06T12:00:00+00:00
    sha256 BTC balance of 0.0015846 added to your account on 2017-08-05T12:00:00+00:00
    sha256 BTC balance of 0.00157935 added to your account on 2017-08-04T12:00:00+00:00

    Total 9 day earning: 0.01405735 BTC
    Current price per BTC in USD$ 4,032.59 (2pm 14-8-2017 Malaysia Time)

    Thats about USD$ 56.69 worth of BTC, divide by 9 day payout, per day earning is around USD6.30.

    Earning per year estimated around USD$ 2299.50(like you said, assuming the price and difficulty does not change)

    Since BTC is a open-end contract, I may run this contract as long as still profitable. The longer the contract stays, the more profit it generates. XD

    • Hey Sean,

      Thanks for writing in and thank you for sharing!

      With the huge ass rise in Bitcoin price, the mining contracts have become even more profitable.
      Thanks for sharing with us your earnings man. Essentially you’ll be doubling your capital (with a little change) in a year. Might be looking to triple if the price continues to increase. 😉

  4. Hi Leigh,
    I bought 15 MH/s at USD93.20 on 19th.
    I do not see any ROI on Genesis Mining Dash x11 Payout until today?
    Any step that i miss?

    • Hi Janst,

      This was the standard reply received for a ticket created with them.

      “We have been experiencing some technical difficulties in the past few days. As a result user balances were not shown correctly and the functionality of the website has been reduced, including the login option.

      This is representing a bigger challenge than expected but our IT Team is currently working on solving all the issues. This situation has also forced us to hold up the payouts from the 20th of July onwards but they will be released to your wallets as soon as the situation is stabilized. We expect to have everything solved (payouts included) during this week.

      We apologize for the inconvenience and thank you for your patience and understanding.”

      Hope this helped!

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