Bitcoin mining has many benefits and it has become a very popular choice among people looking to earn additional income while benefitting from cryptocurrencies. We look at how you can benefit from Bitcoin mining in Johannesburg and how you can get started.
Almost everyone has heard of Bitcoin, the popular cryptocurrency that has taken the world by storm and provided a lucrative investment opportunity for many. But what most people don’t know, is how to mine cryptocurrency. But first, you need to understand what it is.
Cryptocurrency refers to a digital currency that cannot be altered without meeting specific conditions. It works as an exchange medium, and although there are many cryptocurrencies, Bitcoin is by far the most popular. Cryptography is used to secure transactions as well as control new currency units that are created.
What is Bitcoin Mining?
The process of Bitcoin mining in Johannesburg is quite simple; however, there are limitations to ensure that the process cannot be abused. Only unconfirmed transactions can be mined, and the nodes are spread throughout the network once the transactions have been confirmed as legitimate by miners. It’s similar to a Peer-2-Peer network.
As each confirmed transaction is created by a miner, a node adds it to the database and it then becomes part of the blockchain. There are many advantages to using cryptocurrencies:
- It’s impossible to counterfeit
- Can be accessed by everyone
- Lower fees
- Eliminates identity theft
- Lower fees
When you use cryptocurrency, you won’t have to worry about identity theft as it is a digital currency, and it can’t be counterfeited. This can lower the cost of goods and services across the globe as more and more people use it.
Bitcoin Mining with Bitclub
When you join the Bitclub Network in South Africa you’ll have various options to choose from. We have different Bitcoin mining pools available, starting at US$500 per share. Shares are used to buy new Bitcoin mining equipment and the Bitcoin earned is shared among all the members of the pool and paid out on a daily basis.
We also have two GPU Pools available, starting at U$1,000. This allows you to mine one of the other leading cryptocurrencies, apart from Bitcoin. These are Ethereum, Ethereum Classic, Zcash and Monero. The larger US$5,000 pool allows you five GPU shares which can be individually managed, allowing you to mine all the mentioned cryptocurrencies.
The contract period for any GPU mining share that you purchase is 2,000 days, as opposed to 1,000 days for Bitcoin mining pools.
For more information about the benefits of Bitcoin mining and how you can join the Bitclub Network in South Africa, contact us today.
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