Mukiri wrote:Ryko wrote:iMANI wrote:@snifadog, ryko, mic-mic
Looking to join in on this cryptocurrency wave..especially interested in ethereum. Quick questions:
1. How can one buy ETH from Kenya?
2. Which is the best/convenient exchange to us?
NB. I only have a Kenyan bank account and a VISA/Master Card. I'm not privy to offshore accounts
Kindly advise
This guide should really assist you, its one of the wazua guys above who wrote it
buy bitcoin ethereum kenyaPersonally i am in bittrex & Kraken exchange. Kraken gave me a hard time so i used one of my student account while in UK and they accepted, however i prefer bittrex exchange and i use "coinmama.com-with coupons"/"spectrocoin" & a kenyan mama who always loads me bitcoins cheaply. I got her over "localbitcoin" and she gives me good offers(i buy in bulk).
I really dont invest in bitcoin i invest in alternate coins +(ethereum,ripple,siacon,bitpay,Doge etc . I just buy bitcoins and convert them to altcoin, my simple thinking is that altcoins can grow x40 but bitcoin can only double tripple my cash. Based on this Kraken doesn't work for me better so i prefer bittrex, bittrex has so many alternative coins unlike kraken. Basically i am a longterm invester who invests peanuts in cheap coins, i.e i buy a coin at 0.003USD and sell at 1 USD i.e and throw away the keys and wait for years sell. Basically we are all different, it depends on what works for someone, personally altcoins crap works for me. So i cant advice you what is the best exchange for you it depends with you. I am an alternative coin guy "NO bitcoins, and if i buy btc its for exchanging".
Interesting.
First time I'm hearing 'Big mama' 'kenyan mama'... Care to break that down?
@Mukiri I will take time and break it down, because when i was green someone else in another forum guided me through the process
bittrex - bittrex.com (its an exchange/wallet)- The good thing with bittrex is that i am able to buy altcoins (Alternative coins) This are other coins apart from bitcoin. Check this list to guide you "https://www.worldcoinindex.com/" (i prefer this)
Kraken - is an exchange/wallet - it is good because it allows you to deposit dollars and buy bitcoins however this Ninjas dont allow Kenyans or Kenyan accounts, if you have an EU/US account you good to go. They allow you to put in bitcoins and trade.
So where do i buy bitcoins?
The best/cheapest place to buy bitcoin is on the exchange its damn cheap, unfortunately some exchange dont allow us Kenyans to use FIAT (Fiat ni pesa ya kawaida ksh ama dollar to buy). So where do you buy?
You buy at localbitcoins.com from kenyans via MPESA (Kenyas rip you off i.e now the bitcoin is 2499 USD kenyans will sell you at Ksh 290,000)
When i was starting i would buy at coinmama.com (they sell bitcoins and its instant, i pay via Paypal (be cautious you can be blocked) or card.coinmama.com is expensive but you search for coupons/discount before buying to make the price lower than localbitcoin.com. i also bought at Spectrocoin.com is also cheap than localbitcoins.com.
Sometimes i would find myself in a scenario whereby i want to buy bitcoins immediately coz the price is low/there is a pump & dump in a few hours and yet (at coinmama.com i have exhausted the balance), (at sprectrocoin.com im limited) yet the bitcoin is low and i want it immediately, i would go over to localbitcoin.com identify a seller and sidetalk and request more discount. (This is when you are buying in bulk mostly over 200k). Kenyans are good and generous they can sell you at a good discount but the challenge is its risky because its direct transfer and no escrow so you can be conned in pursuit of cheapness.(this what i refered to a local mama who sorts me out when in need)
There are many platform/exchanges the above is what worked for me.
So once i buy and load bitcoins on bittrex, i exchange to alternative coins. Bitcoin will grow maybe to 10,000 USD but if you bought it today at 2500 that will be 4 times your money. Just a few weeks i bought ethereum 160 today it 320, that cash already doubled, That is why i prefer the alternative coins mcompare to bitcoin. if i would have bought bitcoin that day it was roughly 2000 and today its 2500. Thats why i prefer alternative coins. I have seen it in other alternative coins i bought.
Once you are on an exchange google some (buy & dump groups) join them via telegram (i got three in Google & joined). What they do is pump a coin it rises (out of volume of trade), you sell make a profit. i.e they pick (an altcoin)i.e. ripple, they pump (buy in volume) then you sell at a profit (join several of them they will alert you before pumping begins) some poloneix groups too.
I am not a fun of day to day trade, i did for a few days, but it takes so much time/thinking/traking/following up and i am lazy, i dont believe in hard work. I prefer to hold and sell later.
My best wallets are Exodus/jaxx (simply because they accept many alternative coins but not all). So i still have some coins in my exchange. I hate maintaining many wallets. Most wallets in the market favour bitcoin but you rarely find some good wallets for alternate coins.
I am still new to this crap, infact i dont know what is ethereum or all the coins i have bought (i just check market capitalization, volume of trade, few forums, and pop in), i belive there many cheaper exchanges and ways, selling places etc. I only invest what i can loose, if i wake up tomorrow and bittrex or my wallet does not exist i will move on. Its very possible, this online shyt happens. I buy, lock and wait several years il sell then and drink it all!!
coin maguta maguta!!
I work so I can afford the amount of alcohol required to continue going to work