Is Bitclub Network Only For Network Marketers?
As one of the people behind the launch of BitClub Network into South Arica and Africa, I’m often asked whether we cater for network marketers only – and the answer I give is: no, not at all. BitClub Network is for anyone who has an interest in, or believes in, bitcoin as a vehicle for wealth creation.
Whist BitClub Network has a network marketing component built-in (which appeals to the network marketers out there), one can quite easily join purely as an investor. Fact is, there are many South Africans who have joined as investors with no intention of “recruiting” others. And there is nothing wrong with this.
What they do is pay their once-off membership fee (US$99) and then buy into one of the mining pools – of which there are three (Pool 1, costing US$500), Pool 2 (costing US$1 000). Pool 3 (costing US$2 000) or the Founder’s Pool (costing US$3 500). The Founder’s Pool equates to buying a share in all three pools and many investors prefer buying straight into the Founder’s Pool, without first buying into the lesser pools.
When an investor buys into a mining pool, what they are doing is buying mining equipment to “mine” bitcoin. This said, it’s really not important for you to know the technicalities or to understand bitcoin “mining” (although you’ll find a number of videos on the website www.bitclubnetwork.com and You Tube explaining the process if you’re interested).
Bitcoin mining is done on the investor’s behalf and profits from this mining activity are shared amongst the investors in that particular pool. Investors can choose to be paid daily or can select to “store” their bitcoin for the period of their choice. The latter option is generally preferred as it compounds one’s earnings over time.
The difference between the mining pools (besides from the cost) is the percentage paid out and the percentage re-invested to purchase newer mining equipment.
(Another difference is the number of “club coin” given to you – but more about this in a bit).
Investors pay in bitcoin – and get paid in bitcoin (BTC).
With the price of bitcoin currently at around US$600 per bitcoin (BTC) – . go to http://www.coindesk.com/price/ for the latest price – we advise that you purchase as many bitcoin as you can and hold on to them. For the simple reason that there can ever be only 21 million BTC in circulation. So it’s a question of supply and demand.
There are many analysts and crypto-currency “experts” who predict that the price of bitcoin could get as high as US$10 000 in 3 years – whilst there are others who believe it could be even higher. The fact is, no-one quite knows.
My take on things is that even if BTC reaches a – relatively conservative – US$1 500 in 3 years, this is not a bad return. In which case, the advice is the same: BUY BITCOIN.
There are a number of platforms in South Africa from which you can buy the crypto-currency: www.altcointrader.co.za www.bitx.co.za and www.localbitcoins.com
My preference is for the latter, but only for the reason that this is the platform I’m familiar with.
Once you’ve opened an account and created a bitcoin wallet, you can either:
Leave your BTC in your bitcoin wallet and forget about them
Or
Use them to buy into a mining pool, so they can work for you.
By buying into a mining pool, your bitcoin will grow over time.
You’ll also be given BitClub’s own “in-house” crypto-currency (ClubCoin) – free and gratis – as a thank you (so long as you buy in before the end of December 2016).
(Note that whilst ClubCoin can be traded on the open market as we speak, it’s best to hold on to them as they WILL increase in value).
Whilst bitcoin is a relatively new concept in South Africa, and not widely understood, we’re happy to meet with anyone interested so as to expand on the opportunity.
The minimum investment would be US$599 – US$99 to join Bitclub Network and US$500 to buy into Pool 1.
If you’re interested, I’ve just put up a local site
