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Bitcoin Mining is the process where your machine verifies Bitcoin transactions that take place on the Bitcoin network due to the lack of a central bank or processing facility to do this. Each transaction carries a transaction fee which is basically earned by the individuals called miners that verify the transactions. All of the transaction fees are earned by the miners there is no pyramid or referral system or any third party that you process transactions for that takes a cut. A transaction needs to be verified by at least 3 miners to be confirmed so you only split your transaction fees with the other 2 machines that verify the same transaction. There are 144 blocks of transactions per day that reward 25 Bitcoin to the miners when completed or “Hashed” – 1 every 10 minutes this is the second stream of income you earn by mining Bitcoin. But don’t worry you mine with loads of other miners in our pool as part of Antpool – the biggest pool in the world to ensure we find the most blocks per day. The Bitcoin your machine earns gets deposited daily into your Bitcoin wallet that we link to your machine. You can at any time change the wallet address or you can switch your machines over to any other pool of your choosing, BitMart only facilitates the supply of the machine and then the setup, we however offer ongoing after sales service, warranty and assistance with your ongoing mining operations. BitMart also mines Bitcoins with you, we are not only hardware suppliers, in fact our main aim is to add as many miners to our pool as possible to increase everyone’s chances of finding blocks and earning more Bitcoin. Easily sell the Bitcoins you mine on www.bitx.co.za www.altcointrader.co.za www.ice3x.co.za or many other exchanges.
Register on an Exchange like Bitx
Now that you know what Bitcoin is and what Bitcoin mining is head over to www.bitx.co.za and create a wallet for your self by registering.
Setting up your Bitcoin Wallet
After you register click the Bitcoin icon on the screen after selecting the Dashboard. Click the add Address button.
Getting your Wallet Address
Now that you have your wallet address copy and paste it in an email and send it to email@example.com and head on over to our online shop and purchase an Antminer.
Bitcoin Mining offers a 140% ROI in 24 Months!
To earn the same amount of money per month than a R1million property will yield you merely need to purchase 3 S9 Vindicators. That’s a capital outlay of a mere 15% and with the some if not better return plus you have none of the fuss with tenants!
Bitcoin Price DOUBLED in the last 12 Months!
The Bitcoin you mined 12 months ago is now worth more than double as the Bitcoin was $210 USD in April 2015 and 30 December 2016 at $956 USD.
Bitcoin in Africa is EXPLODING!
More than 40% of Kenya’s GDP was traded in Bitcoin alone in the financial year of 2015. And with Nigeria set to be Africa’s fastest growing economy they are also short on the heels of Kenya with Bitcoin transactions making up close to 40% of their GDP per year.
Bitcoin Grows 215% in 12 months!
Bitcoin has not only doubled in the last 12 months but grown a massive 215% in the last 12 months. This means if you bought a Bitcoin Miner 1 Year Ago and you did not sell your mined Bitcoins your Return on Investment would have been 3 months on the hardware you bought. Bitcoin is still young and its going to enjoy massive growth over the next couple of years.
Now that you have a wallet lets fill it with Bitcoins
Deciding on what hardware to buy next is quite simple. There is a variety of Bitcoin Miners available to choose from and the most popular ones are the S7 model and the Oathkeeper model.
Now that you have your Bitcoin miner you need to set it up.
The Machines comes with a 1600Watt power supply and the power connectors need to be plugged in very specifically in order for the unit to function properly – check out out video to help you with the setup.
Thank you for reading our – Bitcoin Getting Started Guide
Bitmart.co.za is the Leading Bitcoin Mining Hardware supplier in South Africa, by reading this Bitcoin Getting Started Guide you will have a good idea of where to start and what to do next. Click Here to visit our online shop and purchase your first Bitcoin Miner.