For over six years now, the interest in cryptocurrency trade has been rising in Kenya’s Silicon Savannah that now see it as the future of value exchange.
The online trade that runs on blockchain technology is here, but the ride has not been easy for newbies who have lost huge sums of money.
A lack of regulation in an online market thriving in a struggling economy has given fraudsters the confidence to exploit the crypto information gap among traders, and the need to trade in the safest possible ways has never been as urgent.
“Many Kenyans still lack information about crypto buying and selling, the dynamics and how they can avoid scammers. They buy the trap of getting high returns in a short time and end up losing their cash,” says Bryan Adams who has been in the scene for over three years.
However, this has not deterred Kenyans from utilising their innovation to try to bridge such gaps and making the trade more enjoyable.
The reality is that cryptos give you the liberty of buying value in fractions, trading it or simply hedging it inspires many. If you feel like one Bitcoin (Sh1 million $10,000) you can split and buy 0.0001 bitcoins for (Sh 100 ~$1).
I think that people are the ones responsible for their losses in crypto space, most just want to gamble the space and earn "huge" quick and easy and end up discovering that in Crypto that formula doesn't work and if anyone thinks that will be severely damage their pockets and scammers will rip your money, to succeed just patience, bet in good asset and wait for returns🙌