What They Don't Tell You About Crypto - the Reality of Cryptocurrency Investments in Kenya

For many of us young Kenyans, investing in cryptocurrency is all about the potential returns and profits. But don't be fooled—there's more to crypto than just doubling your money overnight.

While some people might claim they have no opinion on the matter, the truth is that investing in crypto is like any other investment: it takes time, and it comes with its own set of risks.

Cryptocurrency ukuwa a type of digital currency yenye ina-operate bila need ya banks ama control ya gava. Unlike dough ya kawa, yenye ina-involve physical cash ama coins, crypto ukuwa purely digital.

Kama unge-buy one Bitcoin na uko 2005, tuseme na kitu Kes 30,000, saa hizi, that same Bitcoin ingekuwa na value ya around Kes 8.5 million. But kumbuka, the crypto market ukuwa highly volatile. For instance, kama unge-invested Kes 100,000 in Bitcoin in March 2024, by April, hio investment inge-drop to Kes 80,000—uki-get loss ya Kes 20,000. Hii volatility ina-highlight the importance ya ku-understand the market kabla u-invest. Unaweza piga hii shugli na smartphone yako. Shika smartphone, bei imeshuka, lipa monthly available au lapi

Ku-invest kwa cryptocurrency sio tu about ku-choose the right coin; ila kukuwa rada na potential scams. Sio kila cryptocurrency platform ni legit, juu kuna some companies uvako kwa ku-advertise massive returns ndio wa-lure in unsuspecting investors. Kwa mfano, story ya OneCoin, ili-scam wasee $4 billion before kuingia mitini. Kabla ya ku-invest na any cryptocurrency, ni fiti kuchapa a thorough research na ku-ensure hio platform unatumia ni reputable. Cheki ways unaweza make doh...

Kuna various cryptocurrencies kwa soko, kama;

1️⃣ Bitcoin,

2️⃣ Ethereum,

3️⃣ NFTs,

4️⃣ Worldcoin, na zinginezo.

Hizi cryptocurrency’s u-rely on blockchain technology, yenye ina-ensure security, safety, na kuchapa anonymity ya transactions.

Kwa wale wako interested ku-learn more, kuna-plenty ya resources online zenye zina-explain blockchain kwa urefu.[ Is Crypto Trading a good biz?

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Time una-invest in cryptocurrency, ni fiti pia kuwa aware ya transaction fees, often zikiwa referred kama gas fees, along with other hidden charges. Hizi fees zina vary iki-depend na the cryptocurrency pamoja na platform yenye ume-choose kuitumia.

Like any investment, cryptocurrency ukuja na its own set of pros and cons. So ni fiti ku-weigh in ukiwa careful kabla hauja make any decisions.

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Disclaimer: Hii article sio a professional financial advice. Always conduct thorough research kabla ya ku- invest your money ku-avoid potential losses.