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Getting Started with Genesis Bitcoin Mining

Updated on October 10, 2016
Eric Firestone profile image

Eric is a Senior Network Engineer for an IT Consulting Company in Texas. He has multiple Cisco certifications to include CCDP and CCNP

What Is Cloud Mining And Who Is Genesis Mining?

Mining crypto-currencies started when Bitcoin was released and has increased in difficulty and the equipment required to mine with has changed drastically. BitMain remains the leader in mining equipment and if mining at home is more your speed their products are second to none. This equipment can be expensive and will have to be replaced every couple years to stay competitive. Since mining at home can be expensive and requires technical knowledge to setup this may not be for you. If you're interested in mining, but don't want to deal with the hassles of mining at home, cloud mining is your best option, and is the most reputable provider with the longest track record of payouts and integrity.

Is Genesis Mining Trustworthy?

I have been using Genesis Mining for a little while and have had no issues so far. My purchases have gone through without issue and mining started immediately as promised. More importantly I have received consistent payouts to my Coinbase wallet! I have also reached out to support to test responsiveness and my case was handled in a quick and professional manner. I was skeptical of Genesis Mining at the start, but I now know it works and my money is safe. They've been in this business since 2013 and continue to make improvements in the industry.

You can always start small like I did just to validate, but it will take a long time to be able to re-invest your earnings to compound your cash flow.

Let's Get Started Mining!

If you are new to cryptocurrencies the first thing you will need to setup is a wallet that you can send and receive Bitcoin or Ethereum, similar to PayPal, but for cryptocurrency. Coinbase is a highly trusted online wallet and is the wallet I personally use. You can create your account here This wallet will be where all of your daily payouts from Genesis Mining will be deposited. I also find it easier to deposit funds from my bank account into Coinbase and then purchase hashpower by sending Bitcoin to Genesis Mining. Also there are no extra fees when purchasing hashpower by sending the funds from your Coinbase wallet. Credit card purchases of hashpower will incur extra fees so avoid that if possible.

For a full tutorial on creating and funding your wallet go here:

How to Setup a Coinbase Bitcoin Wallet

Now you just need to create your Genesis Mining account. Go to and click the sign up link. Enter your email address and the password you would like to use.

Once logged into your account you will click the orange button "Start Mining Now" to purchase hashpower. With a new account the screen will look just like the following screenshots.

Genesis Mining Dashboard

Purchase Hashpower

On this screen you use the slider underneath the type of mining you want to purchase hashpower for. The minimum currently for Bitcoin is .20 TH/s for $30 USD although to maximize earning potential I would recommend going for at least .60 TH/s for $90. If you go this route with current values you can purchase an additional .20 TH/s every 3 months to increase your monthly cash flow. Compounding your profits is one of the best ways to profit in this industry!

Save 3% on all hashpower purchases with promo code: VB8RrX

You can use the promo code every time you purchase hashpower to save 3%. Every little bit helps your bottom line!

Configure Your BTC Wallet To Receive Payouts

Now that you have hashpower mining for you the payouts need a place to go. To configure your wallet address navigate to My Account > Settings.

Now that you are on the settings page you will need to select "Wallets" as seen below:

Enter your Coinbase (or other BTC wallet) address in the field under Bitcoin and save. Now Genesis Mining can send your payouts to this wallet.


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