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Getting Started

What is Bitcoin & Crypto Currencies Getting Started Guide

Ok so let’s take a look at what is Bitcoin – Bitcoin is the most popular Crypto Currency on the planet.

Bitcoin

So What is Bitcoin?

Bitcoin – a Digital Currency sent directly from person to person.

Bitcoin Explained

Bitcoin Mining, as its called, is a process where transactions that take place in Bitcoin, which gets added to the Bitcoin public Ledger by means of a 3-factor verification (each transaction is verified by 3 independent Bitcoin Miners). You earn the transaction fees that accompany the transactions you verify as well as a portion of the block reward issued in relation to your contribution to complete the block, once the transactions are written into the block (the public ledger.)

Watch this Video on What is Bitcoin & Bitcoin Mining

Lets get Started – Step 1 Open a Bitcoin Wallet

The next section of the guide will assist you in getting the relevant things in place in order to start using Bitcoin.
Bitmart Ice3x

Open an iCe3x. wallet.

iCe3X.co.za offers wallet options for most Crypto Currencies and they allow you to purchase Bitcoin Ethereum & Litecoin. You can also trade cross-border to Nigeria and withdraw or deposit via Voguepay.
Bitmart Luno-Ethereum-Bitcoin

Open a Luno.com wallet.

Luno.com offers an online in app trading platform via their phone app, instant EFT deposits that make buying Bitcoin fast and easy. Withdraw your funds to your South African Bank account quick and easy.
Bitmart CEX-3-300x250

Open a Cex.IO wallet.

CEX.IO offers wallet options for most Crypto Currencies and they allow you to purchase Bitcoin using your Debit or Credit Card. You can also withdraw funds directly back into the card linked to your profile.
Bitmart altcointrader

Open a Luno.com wallet.

Altcointrader.co.za offers an online exchange trading platform with support for BTC, BCH, BTG, ETH, RIPPLE, DASH , Litecoin & Zcash, instant EFT deposits that make buying Bitcoin fast and easy. Withdraw your funds to your South African Bank account quick and easy.

Step 2 How to get Bitcoin

This Info-graphic Below shows in a nutshell how Fiat Currency that you, can be obtained versus how to get Bitcoin.

Step 3 Start Mining Bitcoin

Mining Bitcoin is becoming more and more popular as people begin to understand the technology. All you need now is to purchase a Bitcoin miner and link it to your newly created Bitcoin wallet. Take a look at our Bitcoin miners and how much Bitcoin they produce on a monthly basis.

Antminer Bitcoin Miners

SaleR4,000.00-9% Bitmart Antminer L3

Antminer D3

Antminer D3 Specifications & Earnings

Bitcoin Income Pm Power Consumption Pm Data Usage Pm
Online Profit Calculator 1200Watt +- R1173.19 @19.3Ghs +- 2.5Gig
The Following are included:
  • Firmware Setup.
  • Power supply (You have the option to take it without a Power Supply)
  • Miner linking to Pool account and wallet (Please provide wallet details at checkout)
  • Physical Inspection & Testing to ensure you get a 100% working miner.
  • Power Cable

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R38,999.00R42,999.00 inc VAT

Antminer S9

Rated 5.00 out of 5

Estimated Shipping Date:

Bitcoin Income Pm Power Consumption Pm Data Usage Pm
Online Profit Calculator +- R1181.88 @11.5ths – R1323.70 @14Ths +- 3Gig

The Following are included:

  • Firmware Setup.
  • 1600 Watt Power Supply
  • Miner linking to Pool account and wallet (Please provide wallet details at checkout)
  • Physical Inspection & Testing to ensure you get a 100% working miner
  • Power Cable
    Bitmart Product Satisfaction Gaurantee

      Bitmart Product Satisfaction Gaurantee
R48,999.00 inc VAT
Bitmart Antminer S7

S7 Antminer

The S7 Ant-miner based on the BM1385 efficient chipset, using less than half the energy per gigahash of the S5, but it is also our most powerful miner created to date to enter mass production (the S5+ had a higher hashrate but was sold on a limited basis). At 0.25 joules per gigahash, this is the most efficient machine available to the public for mining Bitcoin. All S7 Antminers are tested and inspected by Bitmart’s Shepherd Service for piece of mind that it is in a 100% working condition.

R13,999.00 inc VAT

Avalon Bitcoin Miners

Bitmart Avalon 741

Avalon 741

Estimated Shipping Date:  February 2018

Bitcoin Income Pm Power Consumption Pm Data Usage Pm
Online Profit Calculator +- R1124.31 @ 7.3Ths +- 2Gig

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R38,999.00 inc VAT

Calculating your ROI

First of all – Bitcoin mining income changes every day based on the amount of transactions you verify and the block rewards issued to the pool you mine in. Obviously the more miners you have the larger your revenue and chances of making more Bitcoin. You will need to take the following in consideration when calculating your ROI:
1. The Price you are going to start selling the Bitcoin you mine – NEVER EVER just sell all your Bitcoin every day as you mine it.
2. Use the past 2 years Growth of Bitcoin as a guideline as to when and where you will sell the mined Bitcoin.
3. You can only calculate the ROI the day you sell the Bitcoin you mined thus in effect making it a backwards calculation at that time.
4. Power cost and internet cost today will be nothing if you sell the Bitcoin you mined at double or triple the current price.
5. Bitcoin Mining is a Medium to Long Term investment and not a get rich quick scheme.
6. Yes it pays more than it costs bit your paycheck grows in value exponentially the longer you wait to sell your Bitcoin and selling at the right time.
Formula to work out ROI = Average monthly Bitcoin Income of machine projected 12 months ahead minus a minimum 2.9% monthly reduction in Bitcoin income to compensate for Difficulty. Then take the full amount you would mine over 12 months and multiply the value of that Bitcoin by the minimum growth of Bitcoin’s price of 80.97% per year (This is worst case – predictions say Bitcoin will more than double each year in value) The total you get there is a good indicator.

Just a look at Bitcoin Growth in 24months

Look at the buy demand in green vs the supply in red.

Crypto Currency Mining & Bitcoin Mining Guide.

Everything you need to know about Bitcoin & Crypto Currency Mining.

Thank you for reading our Bitcoin Mining Guide. Bitmart has been specializing in Crypto Currencies since early 2015, we have a rock solid relationship with all our clients. Bitmart offers the following services:

Bitmart can guide you in every aspect of your crypto-mining requirements from design, layout, supply to installation.

If you need more insight into the Bitcoin Trading and Arbitration side of things feel free to attend one of our seminars.

Bitcoin Seminar

Due To Chinese New Year in February, Delivery Dates of imported goods are affected, please double check batch dates. Dismiss