Genesis Mining VS ViaBTC Cloud Mining Comparison - Which one is better?
Hi guys! Today I'm going to share some key difference between ViaBTC Cloud Mining & Genesis Mining contracts.
Some Basic Differences:
| Contract Type | Genesis Mining | ViaBTC Cloud Mining |
|---|---|---|
| Per TH Rate | 130 USD | 199 USD |
| Electricity Cost | 0.28 USD / TH | 0.144 USD / TH |
| Management Cost | N/A | 6% of the mining income |
| Payout Frequency | Daily | Daily |
| Contract Period | Lifetime | Lifetime |
As you can see, both of the company offers lifetime mining support as long as mining is profitable using this equipment. When there will be any technological advancement and new type of mining machine will come, their existing machine will not be able to mine efficiently and that time the contact will be void. But right now it's profitable.
Before purchasing any contract you should also check the electricity cost, Genesis Mining electricity cost is almost twice than ViaBTC Cloud Mining Contract. So, ViaBTC Cloud Mining will be more efficient than Genesis Mining in this case though they charge 6% from your income.
Let's take a look at the following screenshot for Genesis Mining Profitability Calculation.
And below is the screenshot for ViaBTC Cloud Mining Profitability Calculation
If you compare between this two, you can see that ViaBTC Cloud Mining will earn you more $21.47 per month which is 7.7% more than earning from Genesis Mining because of the electricity consumption.
But 10TH will cost you $690 more which is approx 53% more than Genesis Mining's contract. So, by paying 53% more you are actually yielding 7.7% more. So, Genesis Mining wins over ViaBTC Cloud Mining at this point.
Right now Genesis Mining contracts are out of stock and ViaBTC Cloud Mining is offering pre-sale which will start mining from 1st of December 2017.
So, you now have an simple overview on this two different services. But make sure you read their terms and condition before putting any money into mining.
If you want to check my last month's earning from Genesis Mining then you can check it here : https://steemit.com/cryptocurrency/@investopro/genesis-mining-profitability-payouts-and-review-updated-24-october-2017
I'll try to write some more articles soon on review and comparison on different cloud mining service. But due to lake of time I'm ending this article. If you have any questions, write down them in comments and I will try to answer them.
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Hey there,
Nice article! The problem is that 1TH of mining power never gives you the same in different cloudmining options, which is why I made a very extensive cloudmining comparison sheet which allows you to make an estimation of future mining profits using difficulty and mining growth rates. However I am missing one important function to automate the whole calculation.
Explanation of the sheet and the missing function can be found in my latest post: http://bit.ly/2KUlVp2
I have a bounty of 25 USD in crypto of choice for the person who can tell me the function I need (+ a mention in the sheet :))! I really hope someone can help me! Thanks!
Using genesis mining for about one year. I'm very happy with it. Cryptocurrency is our future. Everyone should join and support blockchain technology.
Happy mining! :)