It has come to my attention that many people have developed fear in investing online due to many scammers roaming on the internet. I do agree that just like you can be scammed offline, so it happens online too but what I am of is that not all online businesses are scam. Bitcoin trade and investment is among the genuine online businesses especially when you do it without any greediness.
Bitcoins are crypto currencies that are decentralized. Unlike money, they are not controlled by the central bank. As for me I refer them as electronic golds. This is because they are as expensive as gold yet they exist in electronic form. One BTC is equivalent to over five million Kenyan shillings in this year of 2022. However, they can be send and received in small units called Satoshis named after the person who discovered the bitcoins Satoshi Nakamoto. To make you understand how you can earn through bitcoins in Kenya, I will answer a few questions on the same.
Where can get bitcoins?
There are many sites you can find bitcoins like paxful and Coinbase, but I will refer you to Local Bitcoins which is the safe place to purchase them. Just visit the Local Bitcoin Website and register using your email address. Bitcoins are transfered from one person to another through a bitcoins address. A place where your bitcoins are stored is called Bitcoin Wallet this is like Mpesa. A bitcoin address is like a phone number that receives money but for bitcoins it is combined letters and numbers and is more lengthy. There are many people in Nairobi and other parts of the country that do sell bitcoins on this platform and accepts Mpesa as the mode of payment.
How can I make profit from bitcoins?
There are a number of ways you can make money through bitcoins but in this case I will talk about to simple ways. The first way is through buying and holding. The truth about bitcoins is that unlike money, the price of bitcoins always go up due to increase in demand. For instance, in the year 2019 the bitcoins price was approximately four hundred thousand Kenyan Shillings but now it is five million Kenyan Shillings. If you buy and keep your bitcoins till price go up you will make profit.
The second way of making money is through buying at low price and selling at a higher price. In the Local Bitcoins platform, you will be given a chance to buy and sell bitcoins without any trouble. For you to trade, you need to verify your account by submitting your ID card photo. You can be hardly scammed on this side since they use escrow to help you trade safely.
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