Over the last year or two, the awareness and interest in Bitcoin on the African continent has grown considerably to the point
where buying Bitcoin has become a topic of conversation in many households.
So, where to buy Bitcoin?
Well, it depends in which country you’re in.
If you’re in South Africa, you can buy Bitcoin on a number of platforms, although the most widely-used and trusted are:
(with www.luno.com being our preferred provider).
If you’ve not been on www.luno.com before, you’ll find it really easy to use.
The steps to buying Bitcoin on this platform are as follows:
Setting up a Bitcoin wallet
Go to www.luno.com
Register an account
Go to “Settings” and upload your ID and proof of residence (this to get verified)
Funding your Bitcoin wallet
- Click on the “deposit” tab
- Select the bank that you’ll making an EFT from
- Enter a rand amount that you intend depositing
- Log into your bank account, create a beneficiary and make payment (Note that it could take up to 24 hours for your funds to reflect in your Luno account)
- Once your funds are reflecting, you can now buy Bitcoin.
The above steps would probably be similar across all platforms, wherever they are in Africa.
That said, follow the steps listed on the various platforms, below:
Once you’ve bought your Bitcoin, what to do with it?
This is a good question, and here are the options:
Store them (in a secure wallet) and forget about them, hoping that over time, the price of bitcoin will increase significantly.
(There’s a good chance that this will happen, although no-one can be absolutely sure).
Trade them for other crypto-currencies, in the hope of making quick profits. (There are over 1700 altcoins, although the leading ones are Ethereum, Ethereum Classic, Monero, ZCash, Ripple, Dash and Litecoin).
If you pursue this avenue, please know that this is a high risk option, and you have as good a chance of losing money as making money!
Use them to buy a share in a mining pool. At Bitclub Network, in which I’m a member, we mine Bitcoin and other leading cryptocurrencies, through our mining facilities around the world.
(Our largest mining facility is in Rekjavik, Iceland). We are one of the top ten Bitcoin miners globally and are on the Blockchain (see www.blockchain.com).
As opposed to all the Ponzi schemes and pyramid schemes out there, Bitclub Network is a solid, ethical and transparent mining operation with all our mining recorded on the public ledger, the Blockchain.
Why I mention Bitclub Network is because, for me, this is the best option. It’s a lot safer than trading and by buying a share in a mining pool, you create Bitcoin for yourself on a daily basis.
ie you buy a share in a mining pool and allow Bitclub Network to mine bitcoin for you over a 1 000 day period (Three years). By the end of the 1 000 days, your one share may well have grown to 3 or 4 shares,
so not only do you make money with the price of Bitcoin going up, but you are also create more Bitcoin for yourself.
Bitclub Network has been around 4 years now, and already there are over 300 000 paid members around the world.
Why the explosive growth in membership?
Because the word is out – in many regions of the world. For as little at $599, one can join as a paid member and start to create wealth.
Unlike trading, Bitcoin mining should be viewed over the medium and long term.
If you’re into Bitcoin, and into creating wealth for you and your loved ones, you may want to look into it.
Dewaldt Huysamen is an accredited and experienced online marketer and an active member of Bitclub Network in South Africa. He has a website www.bitclub.co.za Anyone wanting to join BitClub Network as a paid member must register as a free member first. If you have already been introduced to BitClub, you should ideally register under that person, assuming that he or she has a good understanding of the business. If you don’t have anyone to register under, you’re welcome to join under Dewaldt.