Genesis Mining is a company that rents hashrate to their customers. For a reasonable fee, they allow you to mine your favorite altcoins without the need to have a rig at home. They are well-known for helping people mine BTC, ZCash, ETH and now – Litecoin.
Contract and Pricing
Genesis Mining now offers two year contracts for Litecoin cloud mining. You have to make a one-time payment in advance to start receiving the LTC straight into your wallet.
The available packages include 2 MH/s for $28, 50 MH/s for $650 and 2000 MH/s for $2400 . They also offer you the possibility to select your own hashrate and they calculate the price in real time. This allows you to adjust the costs to your budget without the need to purchasing multiple packages.
Those prices are rather reasonable, especially considering the fact that there are no additional maintenance fees. You pay one time, and you enjoy the flow of LTC into your e-wallet for two years.
Return on Investment
What should you expect in exchange? As any altcoin, LTC does not have a fixed price. While there are trends and predictions, one can never be 100% certain that the price won’t change tomorrow. However, as it is for now, the outlook is pretty good.
For instance, according to cryptocompare, you get 7 LTC ($29) per month with a 50 MH/s hashrate. The 50 MH/s costs $650, which means that you might start getting profit after 20 months of purchasing it. This exact exchange price was around for about a year now, so it seems stable.
This is a topic we were researching about a lot, and here are our personal conclusions:
Why Is This Reliable?
You might’ve seen people complaining that it gets harder by the day to mine Litecoin (LTC). Lately, many home miners switch to other altcoins because mining LTC leaves them with no profit at all.
Is that bad news? For most people, yes. But where others see a closed door, there is also an opportunity. Let’s take a look at how that applies to you.
The reason why it gets harder to mine Litecoin is simple – there is a “mining elite” of people with extremely powerful gear who raised the network difficulty a lot. In consequence, you would have to have expensive gear in order to get profit from mining LTC nowadays. There’s simply no profit below a certain threshold.
This is where Genesis Mining shines – their mining facility is probably among the top ten mining facilities regarding mining power. This is the reason why they can make a lot of profit by mining LTC. By purchasing one of their packages, you get your slice of the pie.
In addition to that, the decrease in amount of small miners adds a lot to the stability of the system, making it rather predictable. This is the reason why we believe that mining Litecoin with Genesis Mining is and will remain reliable for a while.
Whatever is the case, invest at your own risk. We hope that this article was useful. Please tell us your experience with Genesis Mining in the comments section below!
To make things even better, you can get an additional 3% discount on top of that by applying this coupon code: VO28Nt
Thank you for reading. As always, your comments, suggestions and questions are welcome.
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