Are genesis and hashflare trustable?
How made it untill at least break even?
I have already bougth 1TH in both cloud mining websites! So far made arround 9 dollar after 10 days in each! So 18 in total!
I never trust the cloud mining services because most of them have failed in the past and it's almost impossible to make profit with it. However, the genesis mining have kinda proved their legitimacy by showing their mining farms and stuff, so they might be legit. Though it's one of really not many cases so all in all I wouldn't recommend you to invest in it as there's a possibility that you will lose money.
Are genesis and hashflare trustable?
How made it untill at least break even?
I have already bougth 1TH in both cloud mining websites! So far made arround 9 dollar after 10 days in each! So 18 in total!
The return of investment on both sites are 1 year or even more. You can earn more if you trade alt coins. Regarding Genesis-mining and Hashflare.io legitimacy, that one is questionable if you ask me. They haven't posted anything that will prove that there really is a mining operation going on in any of their sites.
For trading altcoins you actually need to spend tons of time on research, know how the psychology of traders usually work and have balls of steel. Thus, It's tough to make profit with it while investing into cloud mining it's way easier to make money if it actually doesn't turn to a scam.
Cloudmining is not profitable because BTC mining itself is a game of very small gains. There is a reason why the mining industry is now controlled by only a few mining farms.
So dont give them your money.
Well if we take into consideration that they use those money for buying the equipment and you have to pay the fees of electricity and maintenance, it is possible that you can end up in profit. Though it might take a really long time because the fact that the difficulty will also increase over time you could need to wait for a few years.
I think it's more of the way to freeze your funds so you don't do any stupid moves with it. When you deposit it to the cloud mining services you get small amount of money every day. It's kinda like a wage.