Broker Review

Unauthorised Firm Details

Name: Genesis Mining
Website: genesis-mining.com

Overview:
Genesis Mining is one of the largest and oldest cloud mining providers, offering contracts for mining Bitcoin, Ethereum, and other cryptocurrencies. Founded in 2013, it operates mining farms in locations like Iceland and Canada. However, its reputation has been marred by numerous user complaints and regulatory issues.

Key Concerns

• Unregulated Status: Genesis Mining is not authorized by any major financial regulator, such as the U.S. Securities and Exchange Commission (SEC) or the Financial Conduct Authority (FCA). This lack of regulation raises concerns about the safety of client funds and the company’s operational transparency.

• Withdrawal Issues: Many users have reported difficulties in withdrawing funds, with some stating that their balances were frozen or that they were required to pay additional fees to access their earnings. These issues have led to widespread dissatisfaction among customers.

• Customer Support Complaints: Numerous reviews highlight poor customer service, including unresponsive support channels and unresolved issues. This lack of effective communication exacerbates user frustrations.

• Mixed User Experiences: While some users have reported satisfactory experiences, the majority of reviews are negative, citing issues like non-payment, misleading promotions, and unfulfilled contract terms.

Bottom Line

Given the unregulated status, withdrawal issues, and numerous customer complaints, Genesis Mining appears to be a high-risk platform. Potential users should exercise extreme caution and consider alternative, regulated services for cryptocurrency mining.