It is said that the only permanent thing in life is change. Change is always inevitable, especially in a world that is a global village thanks to the rise of the internet and its wide availability.

A new currency has emerged, a digital currency. Cannot be touched with our bear hands or seen with the necked eye. Technically its like buying thin air. Has the world been duped to buy air? Africa has greatly resisted the existence of this currency, refusing to embrace it. Wanting   to stick to the more conventional  paper money.

 

It is said that the only permanent thing in life is change. Change is always inevitable, especially in a world that is a global village thanks to the rise of the internet and its wide availability.

A new currency has emerged, a digital currency. Cannot be touched with our bear hands or seen with the necked eye. Technically its like buying thin air. Has the world been duped to buy air? Africa has greatly resisted the existence of this currency, refusing to embrace it. Wanting   to stick to the more conventional  paper money.

The young generation however has not casted a blind eye to this opportunity that could make them millionaires without even breaking a sweat.

The hottest crypto currency in Kenya is the Bit coin which has been in existence for 9 years, but due to limited recourse or lack of they are only able to trade four figure and five figure   currency.   This money is mostly transacted using the mpesa   platform.  An individual has the option of the money being sent directly to their mpesa   account or to their bank account. This money however is never taxed yet it is an income.

Bit coin and other crypto currencies un like the convectional money, its value appreciates   and depreciates within minutes. Therefore it s  quite volatile.

This year has been its best year yet, in January it was being bought at 1000$ about 103,000Kshs as of November 30th it was slightly above 10,000$ about one million shillings. That is basically 1000% interest[; for someone who invested for that period. When it comes to selling, offers will come from different buyers.  Then you will consolidate the payments yourself. The government has warned that this is a pansy scheme. Yet Kenyans are earning millions this way.

If treasury was to harness in this frenzy and tax the money obtained   from the   sale of crypto currency, this could become a major source of in-come for the country. In the case scenario given above a person would have made a profit of 900,000 Kshs  . This amount being taxed at 15%   would amount to a tax of 135,000 and with this KRA may be able to meet its target.

As an investor, this would be  the best  option for investment, there are no taxes to be charged and you sit down do nothing and see your money grow  over night. The reason most people are not investing in bit coin is because they are risk averse, but without taking a risk how do you expect to change your life? Every successful business man we see today took a risk to start a venture. They took the risk of losing capital if the business was going to fail. If they were employed they probably had to quite their job so that they can concentrate on their dream. They took the risk of not having a steady income and probably this is what propelled them to be where they are today.

 

 

 

The young generation however has not cast a blind eye to this opportunity that could make them millionaires without even breaking a sweat.

The hottest crypto currency in Kenya is the Bit coin which has been in existence for 9 years, but due to limited recourse or lack of they are only able to trade four figure and five figure   currency.   This money is mostly transacted using the mpesa   platform.  An individual has the option of the money being sent directly to their mpesa   account or to their bank account. This money however is never taxed yet it is an income.

Bit coin and other crypto currencies un like the convectional money, its value appreciates   and depreciates within minutes. Therefore it s  quite volatile.

This year has been its best year yet, in January it was being bought at 1000$ about 103,000Kshs as of November 30th it was slightly above 10,000$ about one million shillings. That is basically 1000% interest[; for someone who invested for that period. When it comes to selling, offers will come from different buyers.  Then you will consolidate the payments yourself. The government has warned that this is a pansy scheme. Yet Kenyans are earning millions this way.

If treasury was to harness in this frenzy and tax the money obtained   from the   sale of crypto currency, this could become a major source of in-come for the country. In the case scenario given above a person would have made a profit of 900,000 Kshs  . This amount being taxed at 15%   would amount to a tax of 135,000 and with this KRA may be able to meet its target.

As an investor, this would be  the best  option for investment, there are no taxes to be charged and you sit down do nothing and see your money grow  over night. The reason most people are not investing in bit coin is because they are risk averse, but without taking a risk how do you expect to change your life? Every successful business man we see today took a risk to start a venture. They took the risk of losing capital if the business was going to fail. If they were employed they probably had to quite their job so that they can concentrate on their dream. They took the risk of not having a steady income and probably this is what propelled them to be where they are today.

 

 

News Reporter
I am a lady who is passionate about life, a risk taker who is curious about what is out there in the world. I am young and energetic and I love socializing with others, especially of like mind with me.

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