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Buying Your First Bitcoin Mining Retail Contract

So you're ready to buy your first Bitcoin Mining contract.  If up until now you’ve been wondering how much it costs to get started with Bitcoin mining, well if you have not looked on our site yet, you can start for as little as $25! (roughly R330 at the time of writing this post, based on a 13.20ZAR/1USD exchange rate)

The mine that we at The Bitcoin Miners Club mines with, Galaxy Mine (previously called, Dragon Mine), is in fact the first in the world to offer Bitcoin mining to the general public at this ridiculously low price.

Our company has partnered up with the best and most reputable professionals in the Bitcoin mining industry.  They currently have one of the largest Bitcoin mines in the world and have been mining since 2011 and they mine between 7 – 10% of the total Bitcoins mined in the world.

There are larger contracts than the $25 contract available, but it’s really up to you. The larger you go, the faster you’ll obviously be able to mine. This is the perfect contract to “get your toes wet” with!

So, without further ado, let’s get down to it!

  1. If you click on this link, http://www.thebitcoinminersclub.co.za/custom/retail/, you’ll be redirected to the Dragon Mine portal where you can purchase your mining contract through a secure payment gateway. 
  2. Once on the Dragon Mine portal, click on 'Sign Up', top right. You’ll be redirected to a page with the various available contracts. It is completely up to you what size contract you want to buy, you can always upgrade later. The thing to look for is the amount of Gigahash (GH/s) you’re purchasing. Gigahash is your “mining power”. Think of it as little spades digging in an actual mine. More spades, more Bitcoins.
  3. Once you’ve decided, click on the “Buy Now” button below the option you have selected. You will now be asked to enter your details, and then you must select the Bitcoin option to pay (unless you have a voucher).
  4. So at this point, in a new tab in your browser, you are going to want to go sign into your LocalBitcoins (www.localbitcoins.com) account. (Don't have one yet? Click here and scroll down for detailed instructions, How Do I purchase Bitcoins?)
  5. Login (sometimes it will ask you to confirm that you are not a “robot”, and you might need to login a second time), then click on “Buy Bitcoins” in the top menu. To be sure you’re on the right page, in the search bar, make sure the currency code is set to ZAR, and the Country is set to South Africa. Just start typing and click on the options that pop up.
  6. Make sure to select, 'All online offers' from the dropdown.
  7. Click on 'Search'. You are now presented with a list of local Bitcoin traders.
  8. What you are looking for is someone that is online now (green dot next to their username). You also want to look at the experience and success rate (displayed next to their username). You're looking for someone with 1000+ transactions and a 100% success rate. Then, in the second column (Payment Method), look for someone banking with the same bank as you, or, National Bank Transfer (which means, all banks). In the 4th column (Limits), is the minimum and maximum available from that trader, so you need to make sure, they have enough available for the amount you want to purchase.
  9. Once you found a trader, click on 'Buy' in the last column. If you're buying Bitcoins to pay for your mining contract, don't go ahead yet, you need to first work out how many Bitcoins you need to buy. Remember, the value goes up and down, so you only want to buy once you have everything setup and ready to go. (more on purchasing Bitcoins to pay for a mining contract, below)
  10. First of all, if you're buying from these traders, do not do a cash deposit, as the bank charges additional charges.
  11. Now, if you've verified your cell number and name, you'll be presented with a field where you can enter the amount you want to purchase and send the trader a message.
  12. LocalBitcoins.com takes a 2% cut of the trade. This is standard practice with all trading sites. The Bitcoin price also goes up and down all the time. So you are going have to add a little extra in case the price changes during the time of your purchase. I would suggest then, buy 5% extra in total on top of the Bitcoin value needed to buy your contract.
  13. So now you're ready, you know what calculation to make and you're ready to make the purchase on LocalBitcoins.com. Go back to the tab in your browser where you are ready to purchase your mining contract. Take note of the Bitcoin amount for the mining contract you want to purchase. Add the additional 5% mentioned above to that amount. 
  14. So now, you type the required amount (plus the 5%) in the BTC field on LocalBitcoins.com, you'll notice the ZAR amount will appear automatically. You then type a short message to the trader, saying which bank you are with and to send his bank account details.
  15. If he is online, he should reply immediately. If you look at the top right of your screen, you will notice a little speech bubble. As soon as he replies, you'll get a notification there of the reply. 
  16. You'll notice on the right of the screen, the trader's bank details will appear for the bank that you use. Make note of the unique reference number below the bank details.
  17. Then what you need to do is, login to your online banking facility in another browser tab, copy and paste his banking details across, and very important, make sure you enter the reference number correctly (we suggest, copying and pasting) so that the trader can identify your transaction.
  18. Once you have made the transaction, you simply wait a few minutes and you'll get a notification again, top right on the LocalBitcoins.com website, once your Bitcoin has been transferred to your Wallet.
  19. Now click on 'Wallet', and you'll see your Bitcoins there. At this point, you now go back to the Dragin Mining portal tab, and at the bottom of the screen click on 'Confirm Order'.
  20. You'll be redirected to the payment page. Right below the 'Pay With Bitcoin' button, there will be an ecryption key which you need to copy. 
  21. Go back to your LocalBitcoins.com tab, and paste that key in the 'Receiving Bitcoin Address' field. Also enter the exact Bitcoin amount from the Dragon Mine portal page in the 'Amount In Bitcoins' field. Click on 'Continue'.
  22. Now just give it about 5 minutes, then go back to the Dragon Mine tab in your browser and click on 'Pay With Bitcoin'.

Congratulations, you have purchased your first Bitcoin mining contract!

On this page, this looks like an incredibly lengthy, complicated process, but I assure you, this is not as complicated as it seems. If you read through it once, you’ll understand.

FREE Guide To Getting Started With Bitcoin Mining
FREE Guide To Getting Started With Bitcoin Mining

As always, you are welcome to contact us and setup a Skype appointment and we will hold your hand through this process. Click here to contact us.

Once you have completed the purchase of your mining contract, it takes 8 – 12 working days for the account to start mining, so keep an eye on it! You can login at any time and you will see a countdown to the starting date.

 

Prefer The 'short' Version?

A quick-and-easy to understand breakdown of how it works, and how you can start mining today!

*Your privacy is important to us. We will never share your info with anyone.

FREE Bitcoin Info Guide

About The Bitcoin Miners Club

The Bitcoin Miners Club consists of a group of people dedicated to making the acquisition of Bitcoin Mining available to anyone. By clubbing resources together, Bitcoin can become more easily available to everyone. We believe in an open source digital currency, free from the rules and restrictions imposed by a central bank or governing body.

By standing together, we can overcome any obstacle in our way.

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