Hashflare.io vs Genesis-Mining.com

Comparison between Genesis and Hashflare Mining companies

Before beginning to mine Bitcoin, you have to make a decision on where to purchase your hash power from. It is recommended to invest a specific amount of cash, maybe $300 or $3,000, or you can just be interested in a certain hashrate maybe 14TH/s. If you purchase contracts at a well-discounted price together with Re-invest back into agreements over time as well as earning from affiliate trades, cloud mining, provides you the chances to involve yourself in the mining of cryptocurrency. You not only profit but you as well promote the Cryptocurrency Network and Infrastructure that influences blockchain ledgers. With the current rising prices of Dash, mining it has become a more profitable business and Hashflare, as well as Genesis mining companies, are sure to provide you with agreements for this imminent digital currency. Depending on what you are interested in, various approaches might be fit. The guide below gives you more information about cloud mining companies Genesis and Hashflare mining as well give a comparison of the contracts and services offered.

About Genesis Mining Companies

Cloud mining activity in Genesis Mining began in late 2013. The pioneers have been dealing with bitcoins on one platform which is how they got to know each other. The mining company is situated in Hong Kong. Genesis mining organization has a strong quantitative background. Both founders have professional education in mathematical fields. They are Marco Streng Current who is the CEO of this organization and has studied as a mathematician and is also a bitcoin investor together with Dr. Marco Krohn who is a quant as well as a mathematical physicist. Genesis Mining provides an easy as well as a smart investment platform for the Crypto market. It utilizes a multi-algorithm model on the effectiveness as well as dependable mining rigs that are obtainable for rent for the specialists in digital currency as well as for the people new to the bitcoin industry.

About Hashflare Mining Company

Hashflare was founded in 2014 in Tallinn, Estonia and has been offering cloud mining services since early 2015. The tech behind it is powered by HashCoin team which deals with blockchain solutions as well as hardware since 2017. The company was founded by two Estonians, Ivan Turygin, a holder of a degree in Business Administration and Sergei Potapenko who as well holds a degree in Business Administration. This company makes cryptocurrency mining accessible to every person. There is no reason for you to purchase expensive and complicated equipment for mining when Hashflare is making mining accessible for everyone in the world and it does not matter how old you are or where you come from. The customers just need to choose their desired hash power and begin generating revenue right away with the Hashflare cloud.

Genesis vs. Hashflare mining

1. Location

Genesis Mining Company is located in Hong Kong and started working in 2013 while the Hashflare Mining Company is situated in Tallinn, Estonia and has been working
since 2014.

2. Risk of fraud

The chances of fraud in both Genesis and Hashflare mining organizations are very
low.

3. Coins supported

Hashflare deals with quite a number of coins like Bitcoin, Litecoin, Dash, Zcash, and Ethereum. Genesis mining deals with a lot more coins as compared to Hashflare and they comprise of Bitcoin, Curecoin, Unobtanium, Augur, Curecoin, Ethereum, Zcash, Litecoin, Dash, Ethereum Classic, Zetacoin, Namecoin, Monero, Peercoin, Bitcoin dark, Darkcoin, Startcoin as well as Dogecoin.
In the Genesis mining organization, the AutoTrader option automatically makes trade between altcoins while in Hashflare the affiliate program earns 10 percent after every referred new client.

Charges For Hashflare

Mining clients there are maintenance charges for litecoin as well as bitcoin and in addition, there is an extra commission charge in case of wire transfers while in Genesis there are maintenance charges on the SHA256 contracts. Also, Genesis Mining does not offer lifetime access for Ethereum and X11 but instead offers a period of two years validity for them. Hashflare Mining offers a short FAQ section. Genesis Mining charges extra fees for credit card buying.

Hashflare Mining has several pros like offering immediate payouts if hash power is bought from bitcoin; it as well offers infinite contract length as well as a partner program. Genesis Mining Company also comes with a number of pros like the mining farms are spread through different places for security purposes, availability of custom mining strategies as well as offering the option of auto trading.

4. Hashrate cost (Bitcoin SHA256)

Hashflare offers 4.7 TH/s for $705 for a year mining which means paying $1.65 on a daily basis while Genesis offers the same hashrate for $2794 for open-ended mining which is $1.32 on a daily basis. For 14 TH/s on Hashflare, it will cost you $2,100 every year of mining which means paying $4.90 on a daily basis while Genesis Mining charges $2,226 for open-ended mining which means spending $3.92 on a daily basis.

5. Litecoin SCRYPT

For 250MH/s on Hashflare, it will cost you $1,875 for every year of mining which is $1.25 on a daily basis while Genesis offer the same hashrate at $6,048 for two years and there is no option for a daily fee for this hashrate.

6. Dash(X11)

For 19.3 GH/s hashrate at Hashflare mining, it will cost you $61,760 for every year of mining and does not offer the daily fee option while Genesis mining charges $86,850 for two years mining and does not as well offer the daily fee paying option for this hashrate.

Also for Dash mining, a 5Mh/s hashrate, on Hashflare, it will cost you $29 while Genesis offers $30, and both mining organization does not charge maintenance fees. In this case, Genesis Mining is cheaper since their Dash mining contract provides 50 % extra value as compared to Hash Mining contracts.

For Genesis Mining, it will cost you $6 for every 1MH/s though you will earn a contract valid for two years instead of one if interested. You will have to pay almost double the amount if you use Hashflare company contracts.

Conclusion

Both Genesis Mining Company and Hashflare Mining Company are very reliable mining companies considering the very low chances of fraud. Though, Genesis Mining Company offers slightly cheaper contracts as compared to Hashflare mining company.