How do I identify genuine mining opportunities?

[Buwa]

With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.

[BlackCrypto29]

It's good u do an extensive research on cloud mining if u don't have money to buy any of the antminer.. I will always recommend Genesis

[OuterTech]

I think you're talking about cloud mining. IMO you shouldn't waste you money in cloud mining, it's not worth. With normal mining with antminer or asicsminer you will have to spend around 2 years to be able to take all the money you invested in mining back but it'll be longer if you use cloud mining. Beside there are a lot of scam cloud mining so it's not easy to find out a truthworthy one so you should better stay away of cloud mining and try to earn from some other way like trading, investing in ICO project or just holding.

[Buwa]

It's good u do an extensive research on cloud mining if u don't have money to buy any of the antminer.. I will always recommend Genesis

Do you have any experience with Genesis? And any contact details i.e their website?

[Buwa]

I think you're talking about cloud mining. IMO you shouldn't waste you money in cloud mining, it's not worth. With normal mining with antminer or asicsminer you will have to spend around 2 years to be able to take all the money you invested in mining back but it'll be longer if you use cloud mining. Beside there are a lot of scam cloud mining so it's not easy to find out a truthworthy one so you should better stay away of cloud mining and try to earn from some other way like trading, investing in ICO project or just holding.

Thanks so much for your response. What i want more details on is: identifying genuin partners to partner with to mine crypto as there are so many scammers out there. If someone approaches me that he mines and he would want me to invest, what are the key things to look out for? What are the key questions to ask?

[batang_bitcoin]

With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.

If you are talking about cloud mining, there's no need for you to do some deep research. Basic knowledge is enough to determine that they are scams. But if you are still looking for a genuine way to mine, you should start to get know more about mining woth ASIC / Antminer or GPU mining these are the legit mining you are looking for.

[khufuking]

There is no cloud mining that I know off that can make you any real profit , In my opinion stay away far away from them . There is ton of others things that you can put your money in that is more reliable than cloud mining .

[filharvey]

With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.

Its true that nowadays most of the cloud mining firms are scam.Genesis is said to be the most legit firm.They seem to allow three plans based on the hash rate.

But whatever plan you select,for getting your investment back,it may take approximately six months to get.You would have to consider such things before investing in it.

[deadsilent]

It's hard to identify what cloud mining can be a genuine. Even a reputable cloudmining can be a scam. They give you lifetime contract and they will change it lately because they are not be able to cover their power costs. That's how they work. Since the money you invest to them are nonrefundable. You can't get your money back. Besides, it's not even profitable at all. You're not even sure if it can cover your initial investment to them. They said you can get your ROI in just 6 months. Well, that's absolutely not true.

There's a lot of investment out there which can give you decent profit and surely not a scam. Trading, lending and mining. These are good ways to make good profit.

[Kemarit]

With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.

Scammers are also evolving as well. And I haven't seen any trusted cloud mining except for Genesis Mining, but I also heard lot of members crying scam. Personally, I don't have investment on them so I can't tell if them are scam or not. However, there are a lot of cloud mining site popping around. You need to look at the end of the site, what are their offers and what they can provide. But I wouldn't put my interest on them though. Would rather buy and hold than invest on that kind of site because the chance of getting a good ROI is really small now. And why are you interested though? Its really hard to spot them now because they are really evolving so my only advise is to stay away.

[Buwa]

With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.

If you are talking about cloud mining, there's no need for you to do some deep research. Basic knowledge is enough to determine that they are scams. But if you are still looking for a genuine way to mine, you should start to get know more about mining woth ASIC / Antminer or GPU mining these are the legit mining you are looking for.

Thanks for your response. But aren't these options capital intensive?

[Buwa]

There is no cloud mining that I know off that can make you any real profit , In my opinion stay away far away from them . There is ton of others things that you can put your money in that is more reliable than cloud mining .

Thanks for your response. Please do you care to share these other options that are more reliable?

[AngelSky]

With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.

Mining can be done with the GPU cards or ASIC hardware alone. If you want to mine with the cloud mining platform you will be able to find the scam site alone. You might heard that cloud mining is ponzi schemes in many threads.
I see that you are asking about Genesis mining in your further posts but you will never able to take the investment you done with that site. That is the real problem in any cloud sits. some of shit cloud sites will lock your account or go away after some amount of money collected as contract rate or hash power rentals.

[Buwa]

With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.

Its true that nowadays most of the cloud mining firms are scam.Genesis is said to be the most legit firm.They seem to allow three plans based on the hash rate.

But whatever plan you select,for getting your investment back,it may take approximately six months to get.You would have to consider such things before investing in it.

Truth be told six months is a long time and anything can happen within that period. However, do u care 2 provide me with the website for Genesis, will love to take a look at them.

[Buwa]

It's hard to identify what cloud mining can be a genuine. Even a reputable cloudmining can be a scam. They give you lifetime contract and they will change it lately because they are not be able to cover their power costs. That's how they work. Since the money you invest to them are nonrefundable. You can't get your money back. Besides, it's not even profitable at all. You're not even sure if it can cover your initial investment to them. They said you can get your ROI in just 6 months. Well, that's absolutely not true.

There's a lot of investment out there which can give you decent profit and surely not a scam. Trading, lending and mining. These are good ways to make good profit.

Thanks for the info. I appreciate

[Creeptolady]

Learnt a lot just reading the posts here.  From what I gather, cloud mining is a no-no.  I've had a couple of no-good experiences with those. I had thought maybe I wasn't doing something right. Now I know better. My issue is, the security that cryptocurrency offers might also end up being its Achilles' heel.

[Tyrantt]

Today, btc cloud mining is really hard to be profitable since the difficulty is huge and the fees aren't making any less difficult and you can google to see if the service is genuine or see what they're offering, so if the offerings are just too good to be true, like ROI after a few months, then it's pretty much fake. There are probably some genuine ones but alt-coin mining ones. Check out the one in my signature, they're looking genuine and they're not absolutely just bitcoin based, I'm thinking to invest myself as well.

[kapipindot]

My advise is to stay away from this type of investment. It is very risky as it may only lead to being scammed. If you really want to earn, just purchase your own rig or try trading. It is better that you manage your investment than giving it to somebody and let them do the job for you. There are no shortcuts to success.

[nidacoinlove]

Hey boy come on don't ever think of something like cloud mining to be a genuine stuff to invest your money in. There could be very rare mining investment offers if it ever exists.
I am personally a victim of cloud mining unfortunately.  I have tried many times to find a genuine mining website but I failed every time. Finding such kind of a website or app is a waste of time and money both. It is much better to look for something other than it where your money and time both are not in vain.

[Granxis]

My advise is to stay away from this type of investment. It is very risky as it may only lead to being scammed. If you really want to earn, just purchase your own rig or try trading. It is better that you manage your investment than giving it to somebody and let them do the job for you. There are no shortcuts to success.

Everyone can not get these devices because their expensive devices require expertise. Most people are having trouble getting to the pool and integrating it. Most importantly, you need to use an office and a warehouse. It's quite expensive but the most guaranteed method.