Why Should One Invest in Cryptocurrency in Kenya?
WHY SHOULD I INVEST IN CRYPTOCURRENCY IN KENYA?
Cryptocurrency is a way of digital cash that allows individuals to transform cash in a digital setting. Cryptocurrency is unique on its own; it serves as an electronic cash system not owned by any party. A good cryptocurrency is decentralized, where there is no central bank. It began in 2008 with the invention of bitcoin, which was later released in 2009. In cryptocurrency, you can be a trader or an investor. As a trader, you trade crypto for other crypto or fiat money by taking advantage of both rising and falling market prices over time. In contrast, as an investor, you can buy and hold cryptos like Bitcoin, Ethereum, etc., over an extended period of time.
Starting to invest now in the cryptocurrency market is a significant upside since it is still young. Most investors are projecting future prices that could market the price of cryptos high. That's a good long-term bet. Buyers and sellers determine market prices. If buyers are many, market prices tend to rise, making it bullish. On the other side, when sellers are many, and buyers are less, individuals tend to oversell the crypto making its price fall. This is called a bearish.
There are many reasons you should start investing in cryptocurrency. Firstly, there are incredible returns. Cryptocurrency has been here for a short time, but so far, this can be the most profitable and secure investment. There are wide changes in market prices over a short time. This investment is risky, but high profits can never be sure. Such potentials are hard to find and be achieved in different assets. Good market strategy is an important thing, or you will fall into the trap of losing all your assets. Also, an independent alternative to stock markets makes it a safer option for more traditional investment solutions. After all, in the event of a market crash, they emerged after the 2008 stock market crash; crypto experts believe that they will still survive while pessimist philosophers believe that it will be negatively be affected just like anything else.
Secondly, your money is yours alone. This is the positivity of decentralization in cryptocurrency. For example, when you keep your money in banks, your money is at the mercy of other individuals or organizations. Anything can happen in banks, like if the bank goes bankrupt or it’s robbed. Also, access to your funds in banks might be limited, but in cryptocurrency, your assets remain yours, and it will be yours forever. You don't need to rely on any financial institutions for holding any crypto or transferring it.
In cryptocurrency, there is high market liquidity. This is how easy to make a bid and sell it anytime you feel like you should liquidify your crypto. The technological organization of trading platforms allows individuals unlimited techniques and tactics such as limit-orders and algorithm-based trading.
Getting started with any investment like stocks, bonds, or anything else can be complicated, tiresome, and time-consuming. In cryptocurrency, joining and getting started in trading is simplified. You don't need to liaise with any institution, like signing any papers or visiting any bank to get started. If you don't have previous experience, cryptocurrencies can lose you and make you depressed. Price changes happen daily and every time more than what you are used to in other currencies. Good planning, learning prior money investing, and having a good market strategy is something you should always prioritize before making your investment.
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