You can choose to either re-invest the monies mined by buying more mining machines or start a property portfolio for example. Whichever you choose to do, mining cryptocurrencies is a safe and secure way to see a steady flow of income being generated.
On average, you can expect a return on investment of 6 – 15% per month on a miner bought from Bitmart. Bitmart is the biggest suppliers of mining hardware in South Africa and is situated in the heart of Mbombela. Without further ado, let’s get started!
What does a miner do?
A mining machine allows for transactions to be verified and added to a blockchain. The machine verifies transactions and in return gets rewarded with a certain number of cryptocurrencies as transaction fees and block rewards. Bitmart offers a “plug and play” solution to customers. Once you buy a miner, you can plug it in at your house and the machine will start mining to your wallet.
How do I start mining?
You can start to mine cryptocurrencies today. All you have to do is visit the Bitmart office where qualified professionals will help you to get started. The first step would be to get acquainted with the various mining machines that are currently available. Bitmart’s friendly staff will work with you to establish what type of machine would be best suited to your needs as well as your data and electricity capacity. Next you can open an account with NiceHash and connect your miner. NiceHash is a marketplace for cryptocurrencies as it connects buyers and sellers of hashing power. Download the Bitmart app on your smartphone to monitor what you are mining in real-time. The app is suitable for Android or Apple. If you want to convert your cryptocurrencies into fiat, Luno offers South Africans a portal that caters for the South African Rand. The Luno app can be downloaded from the app store on your phone.
For more information on how to get started, watch our YouTube video here.
Which miner should I buy?
Bitmart has various miners that are suitable for either beginners or advanced traders.
The Avalon 821 is the latest machine from Canaan and has a 11 Hashrate per Second (RTHS). It mines Bitcoin, BitcoinCash and Peercoin. You can connect up to twenty Avalon Miners by using an Avalon Miner Controller (sold separately)
Antminers are known as the most efficient Bitcoin miner currently available on the market that works on the SHA 256 Algorithm. With this machine you can earn both transaction fees and block rewards. The machine mines both Bitcoin and BitcoinCash and is an entry level machine with 4 TH/s.
This is a great script miner that mines Litecoin. Litecoin is doing very well on exchanges at the moment and is a great coin to get involved with. The Moonlander 2 gives one the option of running multiple Moonlanders by means of a USB HUB that you can buy at Bitmart. It consumes under 5 watts and is a great entry level miner for beginners to start with just to understand the concept.
What does a miner cost?
Prices of miners vary depending on size and capability. You can expect to pay from R1 300 to up to R60 000 for a mining machine depending on the size and power of the machine.
Shop online at Bitmart for these and other top of the range mining machines or stop by the office for a free consultation.