Nov 30, 2017 • 14:42
You can´t mine all coins with same equipment but with Genesis Mining you will have the option for mining allocation within a hashing algorithm. To understand what this means we will explain what a hashing algorithm is. After this, we will describe what Genesis Mining auto allocation is and how you can use this to your advantage.
Gensis Mining gives you the opportunity to cloud mine different cryptocurrency algorithms. Within each cryptocurrency algorithm, you can also mine different cryptocurrencies. See which cryptocurrency you can mine with each algorithm. With this option its possible to do Zetacoin, DOGE and Startcoin cloud mining.
SHA 256 Algorithm (BTC and ZET)
Scrypt Algorithm (LTC and DOGE)
X11 (Dash and Start)
Eth Hash (Ether)
What is Genesis Mining Auto Allocation?
The other coins that were not mentioned in the previous section are marked with AUTO. These coins are not mined directly. In other words, payouts will be traded automatically from the mined coins to the AUTO ones at the exchange rate of the day. An example is if you select Mining Allocation and then go to Ethash. Within Ethash, select REP(AUTO). This means that you will mine Ether but they will be traded instantly to REP and you receive payouts in REP.
In your login area, you have the option to select “Mining Allocation” in the menu to the left. Here you select which mining algorithm (SHA 256, Scrypt, X11, Cryptonight, Equihahs, Ethash) you want to allocate. You must first buy hash power to enable this feature. You can always go to Coinwarz to see which cryptocurrency is most profitable to mine at any moment.