Crypto Currency Investment or Scam?

The digital interconnected world has brought its wave of trends, problems, and solutions. The “new” wave that has been gaining popularity over the last couple of years is Cryptocurrency. “Cryptocurrency is a digital currency in which transactions are verified and records maintained by the decentralized system using cryptography, rather than by a centralized authority. In simple terms, cryptos are systems that allow for secure payments online which are denominated in terms of virtual “tokens”, and” Mimie Sigilai Digital Currency Expert.

There are only two countries in the world that have adopted one form of Cryptocurrency, Bitcoin to be an official currency in the countries. The first country to do so was El Salvador and recently The Central African Republic was the second one to do so in the world and made the history of becoming the first in Africa. What’s the perception of Cryptocurrency in Kenya? Do they believe in it?

“Crypto is just like ksh… It’s a form of value.” Jeff a Graphic designer,” “I know Cryptocurrency is ….. bitcoin or some sort of money. I don’t know how to put it. Let’s just say it is the next currency for the future,” Roy entrepreneur. “It is not a scam People lose money because they do not understand the fundamentals before they enter. Because they like quick profit. It is something you have to take step by step you have to understand all the facets of risk management, strategists, and psychology is also very important,” Jeff a Forex Trader.

Aside from the positive assumptions, some people were on the edge when it comes to cryptocurrency. “Yes and no, well I believe the cryptocurrency is good for cash in and out, rather than long time investment that is not guaranteed to return. Crypto to me is like the most famous, legal gamble to ever exist,” Isaac Labi. Lyno a tourist from Denmark, “I don’t really believe in them, I don’t trust them. Definitely, it’s a scam even if people have earned huge amounts of money. The banks and governments around the world are warning people against it”

Speaking to Mimie Sigilai Digital Currency Expert explained, “Cryptocurrency is not a scam it is a technology that has come to reset money and move it from the wealthy to the people willing to adjust to technology Like always once information is lacking some negative people use the loopholes to take advantage of people thus ” scam others ” in the process. But cryptocurrency is the future if not already the form of new money.”


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