CRYPTOCURRENCY EXCHANGE EXPLAINED

Investing in cryptocurrencies does not require having overly huge amounts of cash. The good thing is you can buy cryptos with as little as Ksh100. Cryptocurrencies, like we have said before, are digital currencies which have monetary value.

So ‘to get started,’ you will need to buy or exchange your money for cryptocurrencies. For example at the time of this writing, Ubricoin goes for $1 per coin, so to purchase say 100 Ubricoins you will need $100, which, when translated, comes to about KShs 10,000.

If you do not have capital however, this should not lock you out from getting some cryptocurrencies. There is a plethora of cryptos out there, for your choosing. All with different prices market caps and potential.

You need to have a digital wallet, where you can keep your digital currencies. The wallet comes with send, receive and back up options. This acts as your doorway to transactions.

To receive funds on, say your Trust wallet, you will have to provide the sender with your wallet address, which acts like your bank account number, or as a mobile number for your MPESA or mobile money. In your wallet, you will also find the backup option. It is advisable to back up your wallet’s private and public keys in a secure offline location, probably on paper or on a flash disk. You would not want to be the unfortunate person who lost access to his or her crypto wallet that had a total savings of a million dollars in the year 2025. With crypto anything is possible, I have seen it happen. So be vigilante and take care of your investment.

NB: Remember; never invest what you cannot afford to lose. This investment comes with risks just like any other investment out there.

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