Leave a request
Genesis mining has just opened a limited opportunity for Zcash mining. These contracts are generally open for a few days and weeks. In this article I show what needs to be considered to determine the profitability of these cotnracts.
What is Zcash?
Bitcoin has a public ledger which is visible to everyone, Zcash is a cryptocurrency which functions like Bitcoin. It is different because Zcash uses a private ledger. This is achieved by making transactions anonymous by unlinking their transaction history.
Learn more about Zcash
What is Genesis Mining?
Genesis Mining provides cloud mining solutions for a variety of cryptocurrencies.
It is a company registered in Hongkong, their server farms are in Iceland. The servers are in Iceland because both cooling and energy are cheap.
What are the details of the Zcash mining contract?
Genesis mining is offering a 2 years Zcash mining contract with no maintenance fee. This means that the computer maintenance and electricity is including in the initial price.
Every 2.5 minutes Zcash transactions are processed in a block. This requires mining power, and to incentivise the miners a block reward is issued. Zcash miners will get a share of the block reward, this is divided amongst the miners. When buying a Zcash mining contract, you are buying computing power that can process Zcash blocks.
Is Zcash mining profitable?
At this time it is.
If the price of Zcash remains as is or goes up and the difficulty level stays the same or goes down, then Zcash mining contract is profitable! An excellent opportunity for passive income. Consider the risks well before mining.
The calcualtor determines that this mining contract will pay itself after the first 150 days.
What are risks of buying the Zcash mining contract?
In order to understand if Zcash mining is profitable, one needs to consider the risks.
Genesis mining Risks
This company can fail. However, genesis mining has been executing successful mining contracts for many years.Genesis mining is the only mining company I trust when it comes to cloud mining.
The Zcash price depends, on its demand. Cryptocurrencies that offer zero proof or anonymous transactions are in demand. Like Bitcoin only 21,000,000 Zcash will be created, a limited number of coins make Zcash scarce, this tends to raise its value over time.
See more: Zcash current price
Difficulty rate changes
The difficulty is determined by the total hashes mining Zcash. The more miners mine Zcash the more difficult it becomes. One interesting change is that Zcash is a GPU miner and Bitcoin Gold will soon be released which is also a GPU miner. GPU miners will have more coins to mine meaning that it coule be the case where the difficulty rate decreases making this contract more profitable.
Cryptocurrency mining contracts have the potential for a passive income, as in any investment there are risks involded. If you would like to buy a mining contract follow this link to Genesis Zcash Mining and then use this code XEAh9Z to get a 3% discount.
I am an affiliate to genesis mining, meaning I will earn a small referral if you buy this contract. This does not cost you anything in fact using the code XEAh9Z you would get a discount.
Leave a request