The question of how to ‘join bitcoin’ or ‘invest’ in bitcoin in South Africa, is a common one, usually from someone looking for the next way to make fast money, not from someone genuinely interested in bitcoin, the Blockchain, or crypto currencies in general.(Please also see our articles on Cloud Mining and Mining schemes in South Africa, and bitcoin mining in South Africa)There happen to be a wide variety of ‘get-rich-quick schemes’ and ‘systems’ running in South Africa that use bitcoin as well as Rand.Almost all of them are a variation of a pyramid scheme or High Yield Investment Program, and will eventually fail, causing many people to lose their money.With the rise of bitcoin over the last couple of years, many of these programs are now jumping onto the bandwagon and spreading half truths and misinformation about bitcoin, to promote their system.Follow the golden rule, if it sounds too good to be true, it usually is!There are ‘bitcoin accumulation’ schemes and ‘systems’ where you can earn ‘interest’ or more money than you ‘invest’ with bitcoin.

THIS IS A SCAM!!!Often disguised as FREE BITCOIN EDUCATION, the information provided is factually incorrect, and filled with affiliate links to sub standard and questionable websites that will financially benefit the authors when you sign up.The bitcoin supply is finite, there is NO INTEREST to earn, and if you believe you will buy bitcoin for one price, and after some time you will have more bitcoin than you bought….you are being scammed.Dont believe everything you read on the internet….ask yourself, if you are ‘earning bitcoin’, where does it come from?In most cases either you are getting completely scammed and you will not get back all your money, OR, you are recruiting others and scamming them without knowing it, as it is them who are funding your ‘earnings’, and they are the ones who lose all their money…making YOU the one who is literally stealing money from other users.Do not contribute to this problem in the bitcoin community!Normally these are the same people who are promoting a variety of ponzi schemes and dubious ‘systems’ to make money, and they have a reputation for questionable conduct in the bitcoin communityBitcoin has performed well since it startedThese ‘advisors’ keep sending out newsletters and updates with so called ‘proof’ of their predictions of the markets and now that bitcoin is around, they are suddenly experts in cryptocurrencies too.Membesr and users are shown all sorts of bitcoin information, and then told they can join in and make lots of money with bitcoin, by joining the scheme or program.

Most of the time the scheme has NOTHING to do with bitcoin, other than it uses it as a payment method, but users are led to believe it is all part of the same thing.The people running these  schemes are well organised, and have ‘wealth seminars’, as well as conferences, meetups, and live chats online, where they talk about bitcoin as if they and their scheme are part of it.bitcoin value gbp historyIt is shocking to see how the people running these ‘wealth growing’ and ‘investment’  systems have  themselves very little knowledge of how bitcoin works, but since it is more than the people who are there to participate, they look like gurus.Every day we are inundated with emails, Facebook messages and calls from people who think that they have ‘joined bitcoin’ and now they dont know what is happening, but they want their money!shop for litecoin

Unfortunately many poor users even think they are bitcoin miners, because they are part of a system that is ‘mining bitcoins’, yet they dont know much about anything except the name of a website.The fact of the matter about people who think they are ‘bitcoin miners’ is that they are almost always not.Most of the time they are involved in a fancy ponzi scheme, that only tells them they are bitcoin miners, and of course, takes payment in bitcoin.bitcoin banco de portugalWhat people should remember is that almost anyone over the age of 16 can make a website, so dont believe everything you read or see online!do usb bitcoin miners workCheck if your ‘bitcoin cloud mining’ website can pass these checks.If you are a ‘bitcoin miner’ because you sent bitcoin or money to a website…..I hate to burst your bubble, but you probably are not.If you would like to trade bitcoin, or ‘invest’ in bitcoin, just buy some bitcoin.ethereum silicon valley

You do not need to be a member of a ‘system’ to do that.To be part of the bitcoin community, and to take part in the bitcoin revolution, all you need to do is own some bitcoin.Join a bitcoin exchange, buy some bitcoin, and you have officially ‘joined bitcoin’.You do not need to pay anything to have a bitcoin account or bitcoin wallet.bitcoin usd kaufenYou can get one for free within seconds, and you do not need to go through any other person to do this.yellow bitcoin pillThe bitcoin exchange you use to purchase bitcoins on will always give you a free bitcoin wallet, and you can download a bitcoin wallet to your computer, or use a web or mobile phone based wallet, all for free.bitcoin berlin barCheck out our list of bitcoin wallets to choose from here.Since you open your bitcoin wallet yourself, there are no other people involved, and never should be.uk bitcoin mining pool

You do not need to pay someone to ‘administer’ your account for you.If anyone is offering you that ‘service’, you are probably about to be scammed.There are zero ‘admin’ fees or ‘activation’ fees with your bitcoin account.There is NO minimum buy in or investment for bitcoin.Beware is people who try to tell you there is!You might want to make it worth your while by starting with R500 or R1000 worth of bitcoin, but if you want to buy R50 worth of bitcoin, you can do that.There is no minimum investment amount for bitcoin, you can even buy R5 worth of bitcoin if you desire.Do not let anyone tell you that there is a minimum amount you MUST invest to be part of bitcoin!A bitcoin debit card only costs $12.75 and you should NEVER have anyone else ‘organise’ one for you, or ‘administer it for you.People have contacted us saying they paid R1300 for a bitcoin debit card, R200 for ‘admin fee’, and R500 for ‘activation fee’!!This is outright theft as these charges do not exist!When you order a bitcoin debit card, you order it direct from the provider.

DO NOT let someone else do this for you, or charge you extra.If someone else arranges your bitcoin debit card, they also get the keys to the wallet linked to the card, and have control of the finances on the card.You would not allow someone to have full control of your bank account, so why would you allow that with a bitcoin debit card?It is amazing, but some people have actually paid these fees and done this.Get a 25% discount on a bitcoin debit card by using our link to register: https://goo.gl/y3fl7eRegular price is $17 and with 25% discount, the  new price is $12.75!Bitcoin is traded like a stock or forex on exchanges.The price goes up and down all the time, and nobody can predicct the price in 10 minutes, let alone one month.If someone is showing you tables with figures of earnings you will get, you are most likely involved in another scam.If you know anything about bitcoin, you will know that ANY system that offers interest on your bitcoin deposits is a scam or pyramid scheme.Stay away!This is one of the biggest cons out there on the internet.

There are thousands of bitcoin cloud mining websites, but only a very very small amount are real.The ones that are real, are not very profitable, and you dont make a lot of money.If a website is offering you bitcoin mining and promising great returns, you are almost certainly going to be scammed, or you might just be joining a pyramid / ponzi scheme that says it is bitcoin mining but it is not.Many bitcoin mining websites are just websites, nothing more, they do not mine, they just take your bitcoin, and pay you back small amounts over a long period of time, often vanishing before you have made back your money.Again, if you REALLY think you are a bitcoin miner, and are mining bitcoin by sending your bitcoin to a random website, I challenge you to check them against our cloud mining scam points list.Don’t buy in to pump-and-dump altcoins that claim to be the next bitcoin, and encourage you to get in early.Most of these ‘coins’ that are presented at ‘wealth seminars’ rely on everything from outright fraud such as pre-mined coins or insta-mined coins, to features that have no cryptographic proofs to sucker new buyers in.These ‘sales people’ of these new crypto coins baffle users with crypto lingo and false promises to get everyone to sign up to the ‘next big thing’.

The influx of buyers artificially inflates the price, so that the people running the ‘coin’ who have already pre-mined, can dump their coins onto the market, cashing out with all your hard earned money.Understand that ‘cons’ that are POS (Proof of Stake) or weak POW (Proof of Work), can be attacked at very little cost.This is why Bitcoin is the MOST secure crypto coin out there and a much better choice.Stop just believing websites and people at face value, do your due diligence on them, and question everything, this is your money at risk!If you have to go to a presentation about a ‘new’ type of coin, that is going to make everyone ‘rich’, or be the next ‘bitcoin’, you are almost certainly about to be scammed.No REAL crypto currency needs this at all as it can do well on its own merits.If you would like to buy bitcoin you can do so quickly, easily and safely on a licenced bitcoin exchange.You do not need to be a member of any system or scheme, or pay any monthly fees to anyone for the privilege.