Frequently asked questions
Is this website only for South Africans or can anyone join BitClub Network?
Anyone can join. BitClub Network is already big in a number of countries around the world..and growing hugely. So you could join here and then interest your friends, family members or business colleagues elsewhere in the opportunity.
Is this some kind of “pyramid scheme”?
(We pose this question only because it’s one that has been asked previously). Bitcoin is a legitimate crypto-currency, already used by many people around the world, whilst BitClub Network is simply a platform in which people can come together to share in the profits generated by the mining of bitcoin and oher cryptocurrencies. As opposed to “cloud mining” in which bitcoin mines exist in name only, we have our own mines (the largest being in Iceland) and we’re on the blockchain – through which our mining activity can be verified at all times. See www.blockchain.info
What does it cost to join BitClub Network?
A once-off USD$99 to upgrade, so as to get a position on the binary PLUS the cost of a share in a mining pool. A share in the entry level pool (pool 1) costs $500, a share in Pool 2 costs $1000 and a share in Pool 3 costs $2000. A share in all three pools, which will give you a Founder’s pool, costs $3500. The cost of a share in a GPU pool costs $1000 whilst the cost of a GPU Founder’s pool is $5 000. All fees are payable in Bitcoin Cash.
Could I just buy a position to start?
You could, yes. But you wouldn’t earn from our mining activity.
If you buy a position, you must try to purchase a share in a mining pool as soon as you can.
How do I join BitClub Network?
To join BitClub Network, you first need to register as a free member. Then you need to get yourself a bitcoin wallet. And then buy Bitcoin Cash. We do not accept payment in anything other than Bitcoin Cash so you’ll need to purchase it online. There are a number of online portals through which you can buy the crypto-currency.
How do I buy bitcoin?
There are many different platforms through which to buy Bitcoin, and Bitcoin Cash – depending in which country you reside. Most platforms offer the same services and they are free to use so you just need to pick one that you like and feel comfortable with. If you’re in South Africa, we’d suggest one of the following: www.luno.com www.altcointrader.co.za or www.localbitcoins.com, (Two are in South Africa whilst the third is international, but well-known and trusted). At Bitclub Network, we price everything in US dollars, so we have a standard price for our products. (We don’t accept USD or any other fiat currency, however). To join, you will need to pay a one-time US$99 membership fee that will give you a lifetime access to our platform and allow you to participate in our mining pool shares and any other opportunities we provide in the future. You’ll need to pay this US$99 (currently only in Bitcoin Cash) to activate your account before purchasing any other products. On any of the three portals mentioned, you’ll purchase bitcoin at the market price and we’d suggest you load your account all at once so that you minimise your fees. So if you want to pay your membership fee and purchase a mining share at one time, you’ll need US$599 worth of Bitcoin Cash ie $99 for joining and $500 for a share in Pool 1. (Note that $599 is the MINIMUM investment, with Pool 1 being the entry-level pool. If you can afford to buy Pool 3 or the Founder’s pool, do so as you’ll find the returns to be higher.
If I want to join BitClub Network, but need help doing so, is there anyone to help me?
So long as you’ve already bought your Bitcoin, or Bitcoin Cash, or have the money to do so, yes, we could arrange to meet with you to help you buy a position and a share in a mining pool. Obviously this would depend on where you are. If you are in Johannesburg or Pretoria, we could certainly arrange to meet.
Do I have to “recruit” people to earn through BitClub Network?
You do not. Whilst there’s a network marketing component to BitClub Network, it’s up to you whether to introduce others or not. You could simply purchase a mining share in one of our mining pools and earn from your daily mining activity and the increases in the prices of Bitcoin and Bitcoin Cash as they rise. Sure, you’d earn more by bringing your family members, friends and colleagues into Bitclub Network, so you can profit from a) their mining activity and b) binary commissions, but that would be your choice. BitClub caters for investors and team-builders ie network marketers but no-one will force you to recruit – although you’d probably want to tell others after seeing how easy it is to make money.
Would I need to mine bitcoin myself?
No. We do the mining on your behalf. You are not required to know anything about the mining process, although it would be a good idea for you to have a basic understanding in time.
Can I withdraw my bitcoin if need be?
Absolutely. Whenever you like, although we would discourage you from making withdrawals during the first 12 months. Rather leave it in your share where it could grow faster. This pertains to investors only. If you’re a teambuilder and are earning through one of our revenue streams, then certainly, you can withdraw whenever you want. Just log into your back office, click on your Bitcoin or Bitcoin Cash wallet and click “withdrawal”. Your withdrawn amount will reflect within 48 hours (maximum) and from there, you can exchange it into the fiat currency of your choice.
Where could I spend my bitcoin?
There are a number of places that you can spend bitcoin, and all types of things to spend it on. From a playstation for your kids to a hotel room room in Cape Town and an airline ticket to Dubai on Emirates.
Can BitClub Network verify mining?
We can indeed. We have a public mining pool where you can track our hashing power in real time. See www.bitclubpool.com As our membership grows around the globe (and we are growing so quickly, it’s staggering), so do our mining pools. More and more hashing power is being added to our mining pools, and all mining activity can be tracked in real time. Having more hashing power allows us to hit more blocks on a daily and weekly basis. It is our intention to be one of the largest mining pools in the world by the end of 2018.
Who owns BitClub Network?
BitClub Network is run by a group of programmers, bitcoin mining experts and investors who have come together with network marketing leaders to offer a simple referral-based mining pool. In a sense, we have a decentralised corporate structure in which everyone knows their role. Fact is, we have an incredible and expert team assembled. That said, we prefer to let the technology and our business model do the talking.
Where is BitClub Network located?
Everywhere and nowhere. BitClub Network operates from all over the world, and this structure is intentional so there is no single point of failure or compliance issue that will hold us back. We have multiple mining locations across Europe and a major facility in Iceland. Our hosting servers and mining pool servers are located in the Netherlands with redundancies in Hong Kong and Switzerland. Our programmers work remotely, as do our support staff. We have no need for a physical location. Should this concern you? Not in the slightest. Bitclub Network is operated virtually, due to blockchain technology and other decentralised and distributed networks. With no overheads from a physical “Head Office”, profits are maximised and passed onto our members.
Does BitClub Network guarantee a Return on Investment (ROI)?
We don’t, and never will. Bitclub Network will never guarantee that a mining share will have a set return. That said, you will not hear us make any claims about how much you will earn from having a share in one of our mining pools. Why? Because bitcoin mining is extremely complex and with the difficulty level constantly increasing, it is impossible for anyone to accurately predict an ROI. (Especially with our business model requiring re-purchases ie daily maintenance fees). On this note: if you find any company guaranteeing you a set return eg 1 or 2% per day, there’s a high probability they’re a ponzi scheme. The sad reality is you will never know if a cloud mining company is actually mining, so we recommend you steer clear unless they are totally transparent. At Bitclub Network, we’re a legitimate and solid mining operation and everything we have, or mine, can be verified on the blockchain.
If BitClub Network is already successfully mining bitcoin, why share our profits?
Because of how mining works, it’s getting harder for smaller mines to make profits. When bitcoin came into being, anyone could mine with their home computer and hit a block. Now, even if you have millions of dollars worth of equipment, you still might be too small to solo mine and be profitable, so the entire industry has turned to mining in pools and sharing profits. In order to be profitable today, one needs to have massive purchasing power.With our business model, instead of raising capital through the markets, we allow members to pool their money so as to allow large purchases. This pooling results in larger discounts on hardware, less electricity costs and a much more efficient mining operation. By taking a percentage of all the bitcoin mined and putting it toward a re-purchase, we’ve basically created an automatic “autoship” so that members never have to pay out of their own pocket. With such a structure, we all win. This is why Bitclub Network can – and likely will – become one of the largest bitcoin mining pools in the world.