Monero Cloud Mining

Genesis Mininggenesis mining review

Genesis Mining Review

Monero Cloud Mining


Monero cloud mining is now available from Genesis Mining. Genesis Mining is usually the first cloud mining provider for any new cloud mining coin.

Genesis Mining Monero


Genesis Mining launched Monero cloud mining in March 2017. Monero cloud mining is a fixed time contract according to the following:

  • Monero mining 2 Year contract
  • No maintenance fee
  • Price 1.07-1.13 USD / Hs

Monero profitability


We calculated Monero profitability 2017-04-03. At this time it would take 575 days to break even a Monero cloud mining contract. Monero cloud mining contracts run for 2 years. That would correspond to 27 % ROI on two years. However, both the coin price and the mining difficulty will change over time. This makes cloud mining profitability very hard to predict.

 

Best Monero Exchanges


Best Monero Exchanges with best market volume are presented:

  • Poloniex
  • HitBTC
  • Kraken
  • Bitfinex

Monero Cryptocurrency


Monero is an open-source pure proof-of-work cryptocurrency. It runs on Windows, Mac, Linux and FreeBSD. Monero will have a semi-finite number of coins. It will issue 18.4 million coins by mining until 2022. However, after this Monera will have approximately 1% of yearly inflation. The inflation is created to secure that miners won't leave the network once the currency is not mineable anymore.

 

Monero vs Bitcoin


Privacy - Monero creates a one-time address for every single output. With Bitcoin it's common and easy to reuse the address.

Blocksize - Monero has no fixed blocksize limit, like Bitcoin. The blocksize limit in Monero evolves based on demand in the previous block.

Scaling - Monero will not have the same scaling issues as Bitcoin because of the adaptive blocksize.

Security - Monero uses Cryptonight instead of SHA-2.

Mining - For Cryptonight CPU mining is still possible, whereas in Bitcoin, CPU mining is utterly pointless. This could prevent too much centralization. Bitcoin experience this problem with a few very large mining pools controlling the majority of the network.

 

Genesis Mininggenesis mining review

Genesis Mining Review