As Bitcoin’s value soared over the past few weeks so did most other crypto currencies.
Bitcoin enjoyed an increase in price of 63% during the last month and trade volumes almost ten folded on our local exchanges.
Another coin that is making serious waves is Litecoin at the moment.
With over 162% growth in the last month after the announcement of the Segwit implementation.
Bitmart has released the latest Litecoin Miners for order now from their site.
Like Bitcoin, Litecoin also make use of ASIC (Application Specific Integrated Circuitry) Miners to mine the coin.
Since Litecoins’ difficulty is still low the machines generate large amounts of Litecoin which in turn can then be sold on the local exchanges such as Altcointrader for ZAR and cashed out into your bank account.
Litecoin currently at time of publish trades on Altcoin Trader at R475 stands at a trade volume of 437 Litecoin.
The Litecoin Miner is typically used to generate Litecoin.
When the Bitcoin dips a little, you can sell the Litecoin for Bitcoin on the exchange.
After that, you can either move the Bitcoin into a VISA Debit card like the one on Spectro coin and spend the Bitcoin directly from the card or choose to sell the Bitcoin on Luno or Altcointrader for Rands, after which you can move it to your bank account.
Ethereum also showed promise and spiked from as low as 47USD to over 100USD in the last month and is currently sitting at 90.20USD at time of publish with a growth of over 85% in the last month.
Bitmart sells a host of GPU Mining Rigs that can be used to mine Ethereum and with the backing of Microsoft as well as some large banks developing smart contracts on the Ethereum Blockchain it shows loads of promise for the future and is an Altcoin to be kept a close eye on.
If you are still uncertain how it works, you can get some peace of mind as Bitmart has compiled a purchase guide on its website for clients to see what machines make in Bitcoin Value, Rand Value, how much they cost.
You can also view the power costs and estimate what your monthly returns will be.
Any and all purchases made by MyBroadband readers will enjoy a 5% discount via the Bitmart online shop by using the coupon code : MYBROADBAND
For more information, visit Bitmart.co.za.
This article was published in partnership with Bitmart.