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how do you invest in bitcoins
Rank: Member Joined: 1/10/2015 Posts: 411
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Hallo Wazuans. Any Wazuan who has an idea of how to invest in bitcoins? Please assist Your income is directly related to your philosophy, Not the economy.-Jim Rohn
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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There is a thread on bitcoins already! The opposite of courage is not cowardice, it's conformity.
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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REsident Crypto expert here :)
2 ways essentially
1. buy actual bitcoins from a bitcoin exchange. Ideally, it works like ALL other exchanges. Swap fiat for bitcoins per market price plus a premium ( a fee for the transaction).
2. buy into a bitcoin trust/etf/financial product. this method allows investors to buy into bitcoin like they would stocks. Visit a broker, place a buy order into a trust of your choice.
Currently, only Private Placement Over the Counter investment trusts are available because of regulation set to change very soon.
3. There is a third way. bitcoin is peer to peer, so does not require a 3rd party to intermediate. Thus, you could find someone willing to sell/buy and exchange fiat for bitcoin or vice versa. It could be in cash, cheque, bank deposit -- whatever! It depends on what both parties agree on.
In 1 & 3, a wallet is required to hold bitcoins. YOU are in control of your bitcoins! No one else.
In 2, YOU are essentially trusting a 3rd party to hold their end of the deal. You do not have control of your bitcoins.
Once you have your bitcoins, you can choose to hold, trade, exchange -- at your discretion. They will always be yours until the day you opt to dispose of them.Essentially, you are holding a non interest yielding asset like any other. How do you invest in land? BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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I have received the same question from several interested people.
I have decided to compile a document with a step by step process of how to go about. I will have it ready by Wednesday and share the document publicly on wazua.
BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 1/10/2015 Posts: 411
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jerry wrote:There is a thread on bitcoins already! It does not explain how to invest in bitcoins Your income is directly related to your philosophy, Not the economy.-Jim Rohn
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Rank: New-farer Joined: 2/17/2010 Posts: 47 Location: Nairobi
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I cannot wait for the document for some more insight. There are three useful sites for bitcoin investing from Kenya: Bitx.co Bitpesa.co and Bitfinex.com If you are a specialized trader you can check out bitcoinwisdom.com People who look for easy money invariably pay for the privilege of proving conclusively that it cannot be found on this sordid earth
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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 BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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Excellent read::: Bitcoin ETFs are Cominghttp://www.bitcoinbulls....oin-etfs-are-coming.htmlBITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 1/10/2015 Posts: 411
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[quote=mic_mic] Excellent read::: Bitcoin ETFs are Cominghttp://www.bitcoinbulls....in-etfs-are-coming.html[/quote] That sounds interesting. Although I. Your income is directly related to your philosophy, Not the economy.-Jim Rohn
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Rank: Member Joined: 1/10/2015 Posts: 411
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Your income is directly related to your philosophy, Not the economy.-Jim Rohn
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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First of all, my brief background and why I can speak on the subject
+ different encounters with money (as an audit aide, derivatives analyst and now electronic
money analyst)
+ technical experience in data networks
+ academic background in Electronic Engineering (EEE) and Accounting & Finance -
CPA, CSIA.
A continuing student of finance & new economic theory
I understand [Bitcoin]. The technical aspects and its monetary aspect.
First heard about Bitcoin in 2011. Bought my first bitcoins in 2012. Became a staunch believer
in 2014 after spending much of my time immersed in its origins, development and present.
Disclaimer: I own and trade bitcoins.
I will answer in 3 parts. Part I
What is bitcoin and why the hell would someone call it an ínvestment'?
BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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Bitcoin is 3 things:
 1. bitcoin is a new kind of money - cash for the internet. Just like we all have cash for the REAL world, bitcoin is cash on the internet.
It is not issued by governments, central banks or anyone else for that matter. This is one way it is different from other currencies you are familiar with. The process by which bitcoins comes about is by a technically complex process termed ‘mining’. Computer experts agree the process is pretty amazing.
It is a peer-to-peer decentralized currency designed not to rely upon intermediaries for transfer anywhere. You and I can exchange bitcoins without a 3rd party or intermediary.  bitcoin is different from other currencies because its supply is capped and known from its inception. 21 million bitcoins - that is all the bitcoins there will ever be! Thus, it is deflationary. Currently, 13.6 million are in circulation. Every 4 years the rate of bitcoin money supply production cuts in half. The next halving is in 2016.
This makes bitcoin
2. A digital asset with digital scarcity. Only 21 million and the last produced in 2100. This has led experts to proclaim it as digital gold for a digital global economy
This is public knowledge, some people have recognized the extreme value of this especially in a world increasingly relying on technology, the internet and an interconnected global economy. There are a lot of people with bitcoins who are holding them long term. Approximately 70% of all bitcoins have not moved in 6 or more months. Only 5% of bitcoin's monetary supply is transacted daily, 8% weekly and 10% monthly.Here is a chart illustrating this  3. Bitcoin (with a capital B) is a layer on top of the internet. You will frequently encounter 'the blockchain' in reference to Bitcoin protocol. It makes it possible to redesign the internet in a way previously not possible. The best brains in the world are excited by this and are involved in seeing this technology succeed.
In considering the value of bitcoins, all these 3 factors come into play as they are all interdependent.
The value of bitcoins is thus determined by a free market. No one decides the price, the market decides the price.
*Capitalism and Freedom -- Milton FriedmanBitcoin is still in early adoption, later than a couple of years ago but still early in the broader picture. It is yet to go mainstream. This explains why it is ‘finding itself’.
Here is a graph of all the events on a price chart over the whole of 2014. BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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Bitcoin as an Investment Part 1 - Easy and simple to understand public document. Please share http://goo.gl/Xq3VJPBITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 1/10/2015 Posts: 411
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[quote=mic_mic]Bitcoin as an Investment Part 1 - Easy and simple to understand public document. Please share http://goo.gl/Xq3VJP[/quote] Thanx Mic mic. Your income is directly related to your philosophy, Not the economy.-Jim Rohn
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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Look out for Part 2, 3 & 4
derick wrote:[quote=mic_mic]Bitcoin as an Investment Part 1 - Easy and simple to understand public document. Please share http://goo.gl/Xq3VJP[/quote] Thanx Mic mic. BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: New-farer Joined: 2/17/2010 Posts: 47 Location: Nairobi
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mic_mic wrote:Look out for Part 2, 3 & 4
derick wrote:[quote=mic_mic]Bitcoin as an Investment Part 1 - Easy and simple to understand public document. Please share http://goo.gl/Xq3VJP[/quote] Thanx Mic mic. Nice read. Thanks mic_mic. I look forward to the next series People who look for easy money invariably pay for the privilege of proving conclusively that it cannot be found on this sordid earth
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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How to invest in bitcoins? Here's how!
From january 13th, 2015 to January 25th 2015
54% return buying low and selling high!
 BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 1/10/2015 Posts: 411
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mic_mic wrote:How to invest in bitcoins? Here's how!
From january 13th, 2015 to January 25th 2015
54% return buying low and selling high!
Mic-mic if I want to buy some .what is the procedure? Your income is directly related to your philosophy, Not the economy.-Jim Rohn
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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derick wrote:mic_mic wrote:How to invest in bitcoins? Here's how!
From january 13th, 2015 to January 25th 2015
54% return buying low and selling high!
Mic-mic if I want to buy some .what is the procedure? Visit this page (BitPesa) and make an order to buy https://www.bitpesa.co/buy
You will need a safe wallet address first. So, make sure you have that first as that is where your bitcoins are sent. Visit this page when you want to sell your bitcoins for KES Mpesa. You have to register, so make sure you do that first. https://www.bitpesa.co/
Hope this helps! BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 1/10/2015 Posts: 411
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mic_mic wrote:derick wrote:mic_mic wrote:How to invest in bitcoins? Here's how!
From january 13th, 2015 to January 25th 2015
54% return buying low and selling high!
Mic-mic if I want to buy some .what is the procedure? Visit this page (BitPesa) and make an order to buy https://www.bitpesa.co/buy
You will need a safe wallet address first. So, make sure you have that first as that is where your bitcoins are sent. Visit this page when you want to sell your bitcoins for KES Mpesa. You have to register, so make sure you do that first. https://www.bitpesa.co/
Hope this helps! Thanks Mic-mic .I appreciate the information you have provided. Let me visit the website and then I will get back to you. Thanks Your income is directly related to your philosophy, Not the economy.-Jim Rohn
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