Buy bitcoin with PayPal in South Africa
You can use your PayPal account to buy bitcoins online the Bitcoin Mining Hardware to first purchase $ (currency used in the game Second Life) and then using those to buy bitcoin.
Buy bitcoin with PayPal: Using PayPal is risky for the buyers as the transactions can be reversed, so there might be limits to the amount of bitcoin you can purchase in the beginning.
How to buy bitcoins from other users near you, using bitcoinmininghardware.co.za. People like to use local bitcoins websites users because their system makes sure that the sellers get paid, and the buyers get their bitcoin. Their system works well, and if you follow all the normal steps, everyone is happy and the process goes through smoothly.
BitcoinMiningHardware will take the bitcoin that you want to buy out of the sellers account, and put it into escrow. The seller cannot cancel the order after you have paid to get back his bitcoin, he can only release the bitcoin to you, the buyer. Only the buyer can cancel the order, in which case, bitcoinmininghardware will return the bitcoin back to the seller.
Buy bitcoin at a BTM (Bitcoin ATM)
BitCoin Mining Hardware South Africa’s first Bitcoin vending machine has been installed, giving users the ability to get Bitcoin in exchange for rand. The vending machine is situated in Kyalami, North of Johannesburg, at a business called Metroman. Visit the atm at the Metroman store to purchase bitcoins using cash (Rand) during regular office hours.
To get Bitcoin at the Bitcoin vending machine, consumers need to have a Bitcoin wallet installed on their smartphone which can QR code that the Bitcoin ATM can read, and use to deposit the purchased virtual currency.
Check out our list of bitcoin wallets that you can use on your mobile phone here.
Invest in or Earning bitcoin
Get paid in bitcoin! You can sell your goods and services for bitcoins using a variety of methods, the most common way is to simply ask to be paid in bitcoins to your bitcoin wallet address.
If you want to sell products on your website you can use a checkout system like bitpay to make the whole process easier for buyers with bitcoins. There is Different ood android app that will allow you to keep a bitcoin wallet on your android phone, which you can use to accept bitcoin payments, and also to make bitcoin payments. If you have an android phone or tablet, you can install the merchant application, so that you can allow your customers in your store to pay you any amount of ZAR in bitcoin using the latest exchange rate.
Mine your own bitcoins
You are still able to mine your own bitcoin, although at the current exchange rate for bitcoin, you will be spending more money on equipment and electricity costs than is worth your while. It would be a gamble and a very close call to get your return on your investment. If the price of bitcoin should go up considerably, then you will make back your money, but unfortunately the bitcoin mining difficulty goes up all the time so by the time that happens, it might be too difficult for your hardware to break even.
The purpose of bitcoin mining is to secure the network and verify transactions, it is not supposed to be hugely profitable. Its a self regulating system, so at the best of times you can make some profit, but generally its not a vast amount more than you can get by just buying bitcoins at the market rate.
We have already done articles on bitcoin cloud mining and also bitcoin mining in South Africa, and other bitcoin schemes in South Africa, and how it is NOT something people should rush into, please read these posts to inform yourself.
