Since the meteoric rise of Bitcoin, cryptocurrency has become increasingly popular across the world.<\/p>\n
While Bitcoin is the largest and most widely-used cryptocurrency on the market, there are other currencies experiencing steady growth \u2013 such as Ethereum and Dash.<\/p>\n
These cryptocurrencies also use a blockchain, or distributed ledger system, but feature different mining techniques and additional features.<\/p>\n
Mining is the process of earning cryptocurrency based on the work done to confirm transactions and add them to the blockchain.<\/p>\n
The earning efficiency of this process is generally based on hardware processing power, and mining different currencies can require different hardware.<\/p>\n
While mining Bitcoin in South Africa generally requires a large investment, mining alternative cryptocurrencies can be a cheaper option for enthusiasts.<\/p>\n
BitMart CEO Jacques Serfontein told MyBroadband that cryptocurrencies like Bitcoin are becoming increasingly popular in South Africa.<\/p>\n
\u201cThe popularity of cryptocurrencies has increased tremendously in South Africa, and with the weakening rand it\u2019s a great investment option \u2013 giving returns of between 6-15% per month,\u201d said Serfontein.<\/p>\n
BitMart<\/strong><\/a> is a local online retailer which sells cryptocurrency mining hardware and hosts cloud mining services.<\/p>\n Serfontein said Bitcoin mining rigs remain the most popular choice among South Africans, despite the rise of alternative cryptocurrencies such as Ethereum.<\/p>\n \u201cEthereum mining hardware is becoming more and more popular as the price gains value, but Bitcoin remains the most popular cryptocurrency among miners,\u201d he said.<\/p>\n \u201cWe deliver two Bitcoin miners for every other miner we sell.\u201d<\/p>\n Dash follows closely behind Ethereum in terms of popularity and is gaining rapidly on its competitors.<\/p>\n Mining alternative cryptocurrencies can be more viable than Bitcoin mining<\/a><\/strong> for beginners, and Serfontein recommends they purchase a GPU-based mining rig which allows them to mine a number of different coins.<\/p>\n \u201cWe recommend the Thorium 2480 rig<\/strong><\/a> for beginners, as it is cheap and can mine Zcash, Ethereum, Monero, and various other coins,\u201d said Serfontein.<\/p>\n \u201cYou can choose to either mine the coin directly and keep it, or have our pre-loaded software convert the coin to Bitcoin.\u201d<\/p>\n This article first appeared on MyBroadband<\/a><\/strong> and is republished with permission.<\/em><\/p>\n BitMart CEO Jacques Serfontein told MyBroadband that cryptocurrencies like Bitcoin are becoming increasingly popular in South Africa.<\/p>\n","protected":false},"author":226,"featured_media":86960,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[13160,24253,2163],"class_list":["post-116877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-features","tag-bitcoin","tag-cryptocurrency","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts\/116877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/users\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/comments?post=116877"}],"version-history":[{"count":1,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts\/116877\/revisions"}],"predecessor-version":[{"id":116879,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts\/116877\/revisions\/116879"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/media\/86960"}],"wp:attachment":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/media?parent=116877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/categories?post=116877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/tags?post=116877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Now read:\u00a0What you need to know about mining Bitcoin in South Africa<\/a><\/strong><\/h4>\n","protected":false},"excerpt":{"rendered":"