Everyone is now used to the idea of a paperless cash economy, the currency has become digitized. This has seen the evolution of cryptocurrency which has surged in popularity recently.
Today, one of the most recognized cryptocurrency is Bitcoins.
What is Bitcoin?
Unlike Cash, Bitcoins are a decentralized form of currency, meaning that its distribution and exchange is not controlled by any government or any authority it is completely digital and is anonymous.
It is very impossible to counterfeit bitcoin owing to its powerful encryption (public-key cryptography) which is verified by multiple points in the network to ensure every computer that processes the bitcoin is using identical correct copies.
Bitcoin is designed to pay for goods and services and you can also make good money by investing in it by being a trader or an investor.
Disclaimer: Please understand that the cryptocurrency market is highly volatile; meaning it is a high-risk market and you should not invest more than what you are willing to lose.
How to trade with bitcoins
Trading in Bitcoins is essentially purchasing cryptocurrency and holding on to it for a certain period of time when the prices will appreciate then you sell them.
You can utilise the volatility of the market using the Buy Low, Sell High concept.
Where to buy Bitcoins in Kenya
You can buy and sell bitcoins online in real-time a lot of platforms allows users to trade with other users online, unlike traditional trading like forex it lacks middlemen and banks that charge heavy fees.
To get started with trading online in Kenya with bitcoins, you need to set up your bitcoin wallet, which is an online wallet that is similar to a bank account.
Paxful online platform is a reliable and trusted source to get Bitcoin, it allows you to get a life-time free bitcoin wallet maintained by BitGo, the leading provider of secure bitcoin wallets.
Paxful helps to connect buyers and sellers to easily exchange Bitcoin, accepting more than 300 different payment methods including Safaricom’s MPesa.
With Paxful, your bitcoin is held in our secure escrow until the trade is completed successfully.
How to buy Bitcoins via Mpesa
- Visit Paxful web platform.
- Create your account by filling in your details.
- Select Payment Method. i.e Mpesa.
- Enter the amount in Kenya Shilling
- Browse through the list of available offers, choose the one that best matches your requirements, and review the seller’s terms.
- If you are satisfied with the seller’s terms, enter the amount of bitcoin you want to buy
- Start the trade.
- This will open a live chat with the seller.
- Follow the instructions of the seller to make the payment and confirm it.
- The seller will then release the bitcoins directly into your Paxful wallet.
- The coins will be available in your online wallet immediately.