During the Crypto hype in May I asked myself, why not mine some coins myself?
I discovered 2 options.
1 – Buy graphic cards and do it yourself
2 – Join a cloud mining website and let someone else do it for a fee
 
For option 1, I was definitely not the only one and found that suitable graphic cards were sold out at most online shops. This option also requires some technical skills, maintenance and observation and I don’t feel up for the job.
So I looked into option 2 and evaluated the cloud mining opportunities. Genesis mining was the one with the most consistent reputation and whatever my findings will be below, I confirm that they always done their job as described.
 
You can sign up for an amount of hashpower and you can opt for mining BTC, ETH, Zcash, Doge, Dash, Litecoin or Monero.
You pay a onetime fee for a 2 year contract that can’t be cancelled.
Their website is simple to use and allow 2FA as additional safety login feature.
I used the mining calculator of [cryptocompare]( https://www.cryptocompare.com/mining/calculator/btc?HashingPower=4730&HashingUnit=GH%2Fs&PowerConsumption=1293&CostPerkWh=0.12) to calculate my chances. At the top you can choose which currency you want to calculate. At the time that ETH was worth USD 400 and at the mining rate in May, I would have my investment back in half a year. However, the calculator uses a fixed hashing rate to calculate the returns.
 
To determine the mining rate declination, I decided to try out Ethereum mining with a hashing rate of 3Mh/s for a small investment amount of USD 90. The below picture shows the mining decline rate in 2 months. After 2 months my total balance is 0.1 ETH.
 
 ![image](https://img.esteem.ws/okys9i7nv2.jpg)
 
I let you decide if this is a good or bad development, but one thing’s for sure. Unless the price of Ethereum skyrockets, I won’t have my investment back in a year.
If you’re still interested to use cloud mining, you can use this referral link for a small discount.
 
https://www.genesis-mining.com
Promotion code for 3% discount: rjfqDb