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Hey Steemians and Miners, Monero (XMR), an often undervalued coin that many have looked over in favor of other coins, has seen upward momentum recently that has begun a large stimulation of the coin's interest lately in the market. Monero saw an all-time-high in it's strength on June 12th, reaching a price point of 59.09 USD with a Market Cap of 863 mil. This came back down to a heavily supported level of 43.00 USD at the beginning of July and has been rising steadily, the Market Cap at 602 mil on July 2nd is now at the recent level of 677 mil. This market stimulation could show indications of finding a stronger support-level, which may make 50.00 USD XMR a new possibility.

Though the price of Monero (XMR) is showing supportive signs, the price of 3rd party mining contracts at have remained the same. I wanted to re-evaluate the profitability of these contracts, for the purpose of reviewing whether or not this is something I could take a renewed look at obtaining. For these calculations, I will be using the 500 H/s 2-Year Contract that will cost 416.50 USD. Genesis Mining claims that their Monero contracts are without 'maintenance fees for the whole period', so I will use 0 Watts and 0.00 USD variables for energy costs. Using a profitability calculator such as the one available at coinwarz.com, we receive the following output: This shows a daily accumulation of 0.00232 XMR at a value of 1.12 USD. At this rate, the hashpower will produce 1 XMR every 44 days.

This cycle would require roughly 384 days at the current price of 47.68 USD to return your cost-basis and begin earning profit. These results will vary from day to day and will be affected by different market factors, but this is a good estimation of the value of the contract.

With a forecast return on cost-basis at over 1 calendar year, I would strongly urge caution before jumping on-board with many of the people advocating these contracts in the last few days as highly-profitable. If the price of Monero (XMR) does find new support-levels and continues a bullish trend, a return of cost-basis could be achieved much quicker, making the contract a better option. However, if market price of XMR is the determining factor on whether or not the contract yields enough profitability then I would suggest buying into the coin directly with the funds in order to speculate on this price prediction.

If XMR loses it's recent support lines and drops back down to 40.00 USD, this contract would go below 1.00 USD per day and would not be a viable option in my opinion. For these contracts to produce a better yield, it appears that the hashrate would need to be doubled to 1000 H/s at a minimum, quickly becoming UN-affordable for the average person. It's my opinion that buyers use caution on Monero contracts at this time. Anyway, I'd like to hear everyone's thoughts, so follow and comment below.

I am not a financial advisor, so please do your own research before making any financial decisions. Keep mining friendos. This post has been upvoted from the communal account,, by rabbt from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the.

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Hello Steamians, Monero (XMR) has seen steep climbs in price over the past week. I figured I would evaluate a 2-year contract on genesis-mining.com for its profitability seeing that price is $87.93 USD (.02135004 BTC) at the time of submitting this review. In the past week XMR has seen an increase of 79.57% even at a time were most alt-coins have decreased in value with the uncertainty of Bitcoin (BTC) with the issue involving BitcoinCash (BCC). XMR hit a high of $103.38 (.0213 BTC) recently, and on coinmarketcap.com, XMR is #11 at a $1,314,836,487 market cap. Yes that is over 1 billion. This coin is hot right now and has a ton of upside. Some might be looking at a more conservative approach and buying hashpower from a company such as Genesis-mining might be what these types are looking for.

I would strongly advise that an investment such as this is not for everyone and many would argue that buying XMR directly might be a better investment. Even though the price of Monero has drastically increased, the price of 3rd party mining contracts at Genesis Mining have remained the same. I will be using the 1000 H/s 2-Year Contract that will cost $819 USD. With the 3% promo code, that price goes down to $795.40 (you can use my promo code if you decide this is something for you - DQJvq0).

The Genesis Mining contract states that their XMR contracts are without maintenance fees as the only fee you pay is the charge you pay up front. Per the contract, the fees are 'USD 0 per H/s and day, deducted on a daily basis* from the generated Coins', so I will use 0 Watts and 0 USD variables for energy costs. Using a profitability calculator, this is from coinwarz.com, we receive the following output: According to these calculations, it shows earnings of 0.031359 XMR per day valued at $2.93 USD. At this rate, the hashpower will produce 1 XMR every 32 days and would require roughly 280 days at the current price of $87.92 USD to return your investment and begin earning profit. That means you will have 450 days to earn your $2.93 per day of profit which comes to a total of $1,315.50.

This is 1.6 times your investment in just 2 years time. Of course, as mining continues, the difficulty will increase and your profits will decrease but if the price of Monero continues to increase or simply holds, it looks as this investment could be profitable. Again, many would argue that simply investing in Monero would bring you a larger ROI and if Monero decreases in price, so will your profits. The results of your mining proceeds will vary day-by-day but with your ROI being earned back in approximately 280 days at these prices, these contracts could earn interested parties a steady passive income for over a year. If XMR continues to increase, so will the value of these contracts at Genesis-mining.com. You could decrease your hashrate to 500 H/s for $416.50 or even lower to $49.99 for 60 H/s or even the maximum of $8000 for 10000 H/s.

Again you can use a promo code to decrease these amounts by 3% (my promo code is DQJvq0) for a cheaper initial investment. Overall, with prices the way they are on Monero, this investment seems viable and would vastly outperform the stock market and would be considered a great return by Wallstreet standards but one might do better directly investing in cryptocurrencies. For passive income, this again seems like a viable investment.

This is my first article on steemit, so let me know what you think. Any comments or follows would be welcomed. As always, do your own research before making any investments and do not invest what you cannot afford to lose.