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Help Line

Tel: 0861 22 20 17
Fax: 0866 66 78 47
Email: help@affinitymine.co.za
 

FAQ

Frequently asked questions
How and where can I spend Bitcoin?
FAQ-1

Anywhere you can use a VISA card. It’s that easy.

If you’re not sure where to spend your mined bitcoins, we will assist you in setting up your very own VISA card funded entirely by your mined or purchased Bitcoin. This can be used anywhere in the world where they accept Visa.

You can also spend your Bitcoin at ANY merchant who already accepts Bitcoin.

How do I create a wallet?
FAQ-2

Our Bitcoin professionals will assist you in setting up your very own Bitcoin Wallet and get you setup with your own VISA based Bitcoin card. It provides the best security and utility among other online wallets.

Our Wallet of choice is Xapo. Please complete your details under the ‘Contact us’ section and an agent will call you back to give you more information.

How do I make a Withdrawal?
FAQ-3

Your investment will grow by up to 5% monthly. 60% of your monthly investment growth will be transferred to your Bitcoin account that you can make use of with the Bitcoin Visa card. The capital investment as well as the investment growth can be withdrawn by contacting the Affinity Digital Mine call centre and requesting to withdraw your full investment. Please note this is subject to availability of potential buyers/investors.

How long does the contract last for?
FAQ-4

SHA-256 (Bitcoin) contracts last indefinitely but are subject to maintenance and electricity fees. The mining process will be stopped once the revenue gets smaller than the fees. However the equipment will start mining again once it becomes profitable.

What influences my income and profit?
FAQ-5

SHA-256 is used to mine Bitcoins. This means, that the only factor which influences the income is the mining difficulty. You can see the current difficulty and expected growth on your dashboard.

Bitcoin contracts are also subject to daily maintenance and electricity fees which are deducted from each payout. Currently the fee is R0,05* per 10 GH/s of SHA-256.

Once the fees are deducted from a payout, the remaining amount is considered your profit.

BTC/USD exchange value also influences the fees and income.

*Rate subject to USD/Rand exchange rate.

What are the fees?
FAQ-6

The mining process requires energy consumption and human resources for the maintenance. In order to cover these fees all users are required to pay fees according to their hashrate.

The fees are linear and equals R0.05* per every 10 GH/s of SHA-256.

The fees are deducted from your account on a daily basis in Bitcoin.

*Rate subject to USD/Rand exchange rate.

Why do you reinvest 40% of my monthly return?
FAQ-7

The reinvest function allows you to automatically buy additional hashrate every month. Due to the fact that the Bitcoin difficulty is increasing every 2 weeks this is essential in maintaining your monthly return. Without this feature your monthly return would diminish over time until it was no longer profitable.

You are able to reinvest any amount above 40% at your own leisure. In order to do so please contact support with the desired amount.

How can I increase the security of my account?
FAQ-8

Two-factor authentication is an additional security measure for your account. In addition to your usual login and password, you will be asked to enter a security code which is generated by a third-party mobile application (Google Authenticator).

To enable two-factor authentication, go to “Profile” on your dashboard, scroll down until you see “2-factor authentication”, and then click "Enable". Download application for your mobile OS and scan the QR-code shown on the screen. Finally, enter the security code generated by the application in the required text box ("Enter token from your phone").

I have purchased some hashrate. When will I get a payout?
FAQ-9

You can see your daily balance on your dashboard. You will receive your payout on the last business day of every month to your designated wallet address.

Can there be a negative balance?
FAQ-10

There are rare cases when a user's balance might be mistakenly increased during a technical maintenance. If a user who received more funds than his hashrate allows and withdraws these funds, the account balance becomes negative. There are 2 options for a user to restore the balance:

1. Contact technical support and then send the mistakenly added funds back to the wallet address provided;

2. Do nothing and wait until monthly payouts restore the balance to positive values.

There are no other possible cases in which a user's balance might become negative. In a case when the mining costs (the ones covered with the maintenance fee) become higher than the mining revenue, the hardware will be automatically switched off. The hashrate will still remain on users' accounts and will be activated again once the mining becomes profitable.

What is the withdrawal currency?
FAQ-11

All withdrawals are provided in the same currency as payouts. You can only withdraw the amount of Bitcoin you have on your account.

We do not provide withdrawals in any other currencies. We also do not convert the balance on the account.

Should you wish to Exchange the Bitcoin for Rands, please contact us and we will assist you to do so.

May I delete my account?
FAQ-12

Yes. To do so please write an formal request to support@affinitymine.co.za from the email address you have registered with.

I've lost my password, what should I do?
FAQ-13

1. Click “Forgot password” button in the login screen.
2. Enter the email address you used to register your account with.
3. Log in to your email and check your inbox for the password reset email. Make sure it is sent from @affinitymine.co.za
4. Follow the link in the email and enter a new password. The email may take up to 10 minutes to be delivered (make sure to check the spam folder if you don't receive it.)

Warning! Resetting the password will temporarily block withdrawals for 14 days due to security precautions, if this falls on the end of the month your payout will then be lodged at the end of the following month.