Genesis Mining
is a bit different, in that you don’t rent the hardware directly.
Instead, you get a contract for a set amount of hashing power, which you
can target against various alt-coins like DarkCoin, LiteCoin, etc. At
the end of the day, Genesis Mining converts your mining efforts back
into Bitcoins and pays out into your own wallet.
The site has a nice dashboard that lets you allocate your hashing
power to one or more alt-coins, or just set it to auto and they’ll
calculate the most profitable coin to mine for you.
I signed up a bit over a month ago, and purchased a total of 6 MH/s,
for 1.52954788 BTC, or about $940 USD at the time. I’ve left the mining
set to “auto”, so Genesis Mining can figure out which coin is the most
profitable.
Here’s what my payouts have looked like since then (the date format is dd.mm.yyyy):
While I’ve made back 0.351144 (23% of my initial investment) in a bit
over a month, you can see that payouts are definitely trending down.
I’m happy with the payouts so far, but I would like to know, on a daily
basis, just what my MH/s are being used to mine.
I’ll update again in the future to show how it’s going. Hopefully, I’ll at least break even by the 6 month-mark.
Source > http://blog.bitcoinbeginner.com/post/91758621266/genesis-mining
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Great tips! Renting hashing power online is a great way to start mining cryptocurrencies without having to make the investment in mining equipment.
ReplyDeleteNiceHash allows you to buy hashing power for Bitcoin, Ethereum, Monero, Dash, Zcash, Litecoin and other coins and get paid in bitcoin.
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