<p>Yes, the payouts can be send to your Bitcoin wallet.</p>

<p>But as with all cloud mining services, they would not offer that service if they would not make any profit with it. Instead of investing $ 2400 on life time 10 TH/s mining, have you considered just buying Bitcoin worth $ 2400?</p>

<p>I tend to tell people to be cautious with such services and do the maths properly in advance. <a href="https://bitcoinwisdom.com/bitcoin/calculator" rel="nofollow noreferrer">Let me do it for you</a>:</p>

<p>10 TH/s, 2400 USD, 0 electricity, 0 fees:</p>

<p><a href="https://i.sstatic.net/cQSXV.png" rel="nofollow noreferrer"><img src="https://i.sstatic.net/cQSXV.png" alt="lose money in cloud"></a></p>

<p>You would <strong>lose around 1562 USD</strong> on that deal.</p>

CC BY-SA 3.0
2017-03-25T09:41:50.817Z
According to your estimate difficulty would have reached 22734G by now. However, it is at 475G. So you're way off.
JacquesFin
CC BY-SA 3.0
2016-03-29T07:17:11.227Z
2016-03-29T07:17:11.227Z
q9f
<p>There is another big problem with cloud mining. 
It look very profitable, but the bitcoin transaction fees are killing
Because you get your mining payouts in small transactions you have to pay an enormous amount of bitcoin transactions fee</p>

<p>** € 900,-  fee  to transfer € 133,-**</p>

<p><a href="https://i.sstatic.net/Nlvq5.jpg" rel="nofollow noreferrer"><img src="https://i.sstatic.net/Nlvq5.jpg" alt="enter image description here"></a></p>

CC BY-SA 3.0
2017-12-28T14:52:14.543Z
2017-12-28T14:52:14.543Z
Richard de Ree
<p>I am a noob to bitcoin and want to know a few things-:</p>

<p>I saw the Genesis Mining pricing <a href="https://www.genesis-mining.com/pricing" rel="nofollow">here</a>. Now my question is that if I use cloud mining can I transfer that amount to my Bitcoin wallet ? Like CoinBase or Bitcoin core ?</p>

<p>Can that be done in Genesis Mining ?</p>

<wallet><cloud-mining>
Connecting Genesis Mining to a bitcoin wallet
Kramer786
# Connecting Genesis Mining to a bitcoin wallet

(Asked by: username_0 on 2016-03-27)

I am a noob to bitcoin and want to know a few things-:

I saw the Genesis Mining pricing [here](https://www.genesis-mining.com/pricing). Now my question is that if I use cloud mining can I transfer that amount to my Bitcoin wallet ? Like CoinBase or Bitcoin core ?

Can that be done in Genesis Mining ?

**Tags:** wallet, cloud-mining


---

## 2 answers

### Answer by username_1 on 2016-03-29. Score: 2

Yes, the payouts can be send to your Bitcoin wallet.

But as with all cloud mining services, they would not offer that service if they would not make any profit with it. Instead of investing $ 2400 on life time 10 TH/s mining, have you considered just buying Bitcoin worth $ 2400?

I tend to tell people to be cautious with such services and do the maths properly in advance. [Let me do it for you](https://bitcoinwisdom.com/bitcoin/calculator):

10 TH/s, 2400 USD, 0 electricity, 0 fees:

[![lose money in cloud](https://i.sstatic.net/cQSXV.png)](https://i.sstatic.net/cQSXV.png)

You would **lose around 1562 USD** on that deal.

> **Comments:**
> **username_2**: According to your estimate difficulty would have reached 22734G by now. However, it is at 475G. So you're way off.  

---

### Answer by username_3 on 2017-12-28. Score: 0

There is another big problem with cloud mining.
It look very profitable, but the bitcoin transaction fees are killing
Because you get your mining payouts in small transactions you have to pay an enormous amount of bitcoin transactions fee

\*\* € 900,- fee to transfer € 133,-\*\*

[![enter image description here](https://i.sstatic.net/Nlvq5.jpg)](https://i.sstatic.net/Nlvq5.jpg)


---

