Bitcoin South Africa - Learn about bitcoin in South Africa

Bitcoin Wallet For Beginners

Bitcoin Wallet For Beginners
Bitcoin, in contrast to traditional currencies, is an advanced digital currency. Thus the approach to this type of currency is quite different, especially when it comes to obtaining and storing it. Because Bitcoin does not exist in any physical form or form, it is practically not possible to store it anywhere. Instead, it's the private keys used to access your public Bitcoin address along with signatures of transactions is what you need for secure storage. It is the combination of the recipient's public key and your private key that makes the Bitcoin deal possible.
There are many different forms of Bitcoin Portfolios, each of which meet different requirements and varying in terms of safety, security, ease of accessibility, etc.

https://preview.redd.it/jpvfjuelt5741.png?width=940&format=png&auto=webp&s=9386c903c7daa901b3a203baf8219c784ac07e69
Types of Bitcoin Portfolios
Paperless
A paper wallet is basically a document that contains a public address that can be used to receive Bitcoin and a private key, which allows you to spend or transfer Bitcoin stored in that address. It is often printed as quick response codes so you can quickly scan them and add keys to your software portfolio for a transaction.
To eliminate the risk of any spyware monitoring your activities, it is recommended that you use a clean operating system, KiwiKrypto provides one such as we are currently best bitcoin wallet South Africa.
Bitcoin Physical
The physical Bitcoin is usually pre-loaded with a fixed amount of Bitcoin coins, the goal being that its value cannot be spent as long as the private key remains hidden. This is usually accomplished by implementing an anti-tampering seal.
Portable devices
For those who use bitcoin on a daily basis to pay for goods in the shops or trade in face-to-face, the bitcoin wallet on mobile devices is an essential tool. It works as an app on your smartphone, to store your keys and allow you to pay for things directly from your phone. Moreover, some applications enable users to use the feature "Near Field Communication" on smartphones, which means that they can simply benefit from their phones versus the reader, without having to provide any information at all.
The web
Web wallets store your keys on the server of a company providing such services. The server is always constantly connected to the Internet and controlled by someone else. Different services provide different features, with some linked to mobile devices and computers, as your addresses are duplicated across the devices you own.
Computer
Computer portfolios are downloaded and installed on your computer, where they store your keys on your hard disk. By definition, they are more secure than Internet wallets and mobile wallets, because they do not rely on third parties for their data and are more difficult to steal. It is still online, which makes it inherently unsafe. However, computer wallets are a great solution for those who trade a small amount of bitcoin from their computers.
Devices
Wallet devices are a somewhat unique type of bitcoin wallet that stores private user keys in a secure device. This is the most secure way to store any amount of Bitcoin, and there have been no verifiable incidents of stealing any money from a wallet device. Unlike paper wallets, which must be imported into a program at some point, wallet devices can be used safely and interactively. Moreover, it is safe from computer viruses, money stored from the device cannot be transferred in plain text and in most cases its software is open Source.
submitted by kiwi_krypto to u/kiwi_krypto [link] [comments]

BSVPay on Twitter: "Buying Electricity ⚡️ Using #Bitcoin #BSV on @Centbee Wallet in South Africa.… "

BSVPay on Twitter: submitted by thacypha to bitcoinsv [link] [comments]

Best Bitcoin Wallet in South Africa- Kiwikrypto

Best Bitcoin Wallet in South Africa- Kiwikrypto
KiwiKrypto is the South Africa's most trusted and easy-to-use crypto platform, Where you get the best bitcoin wallet for your investments.
We deals with no. of coins like Bitcoins, EOS, Dai, Cardano, NEO, Steller etc.
We are 24/7 days open to resolve the customer queries.

Bitcoin Wallet- KiwiKrypto
submitted by kiwi_krypto to u/kiwi_krypto [link] [comments]

Best Bitcoin Wallet in South Africa

Best Bitcoin Wallet in South Africa
KiwiKrypto is the South Africa's most trusted and easy-to-use crypto platform, Where you get the best bitcoin wallet for your investments.
We deals with no. of coins like Bitcoins, EOS, Dai, Cardano, NEO, Steller etc.
We are 24/7 days open to resolve the customer queries.
Bitcoin Wallet- Kiwikrypto
submitted by kiwi_krypto to u/kiwi_krypto [link] [comments]

“Bitcoin Wallet” Ponzi scheme causes chaos in South Africa

“Bitcoin Wallet” Ponzi scheme causes chaos in South Africa submitted by bitnewsbot to bitnewsbot [link] [comments]

Latest Update On The Bitcoin Wallet Scam In South Africa

Latest Update On The Bitcoin Wallet Scam In South Africa submitted by jonnycake52 to CryptoNewsReddit [link] [comments]

Luno, exchange & 'wallet' monopolising South Africa & Nigeria, suddenly forget how rounding works when reporting fees. Same company who charges a nominal 0.0002 BTC fee to RECEIVE bitcoin -- imagine demoing a tx to someone new & explaining this. So sick of these sly, greedy f*cks hampering adoption.

Luno, exchange & 'wallet' monopolising South Africa & Nigeria, suddenly forget how rounding works when reporting fees. Same company who charges a nominal 0.0002 BTC fee to RECEIVE bitcoin -- imagine demoing a tx to someone new & explaining this. So sick of these sly, greedy f*cks hampering adoption. submitted by complicit_bystander to CryptoCurrency [link] [comments]

Standard Bank in South Africa is running an internal Bitcoin pilot with switchless.com, in-bank wallet

Standard Bank in South Africa is running an internal Bitcoin pilot with switchless.com, in-bank wallet submitted by waspoza to Bitcoin [link] [comments]

Need ANDROID app testers in South America, Africa and the Middle East to test DropBit Bitcoin Wallet

Hi community!
We are looking for a few Android users from the above mentioned regions to download our app, and make sure they are able to set up their wallet and receive an SMS invite from us, in the U.S.. The whole process should only take about 10 minutes, and we'll send you some Bitcoin for helping us out. If you meet the requirements and are willing to perform this task in real-time, please DM me and let's get to it! Below are more details, thank you /bitcoin.

This is a task that should take less than 10 minutes to complete, but will need to be done in REAL TIME, in case there are issues (if you cannot commit to this, please do not accept the task).
Also, we will need your phone number BEFORE testing begins, so we can send you an SMS invite.
1). Once you receive the invite, install the app from the Play store. Do not install the app before you get the invite.
2). Create a 'New Wallet'. You can write down your seed words or skip, if you would like
3). Verify your phone number (this will require you to enter your number, then enter the verification code received via SMS)
4). Verify the $8 USD in Bitcoin was successfully sent to your app
5). Take a screenshot of your transaction history to verify transaction received
6). Send $2 USD in Bitcoin to this phone number (provided if chosen for the task). Include a shared memo with this transaction with your Reddit username
7). And that’s it, and thank you for your help with our app, the remainder of the Bitcoin is yours :D
submitted by coin_ninja_com to Bitcoin [link] [comments]

Need ANDROID app testers in South America, Africa and the Middle East to test DropBit Bitcoin Wallet /r/Bitcoin

Need ANDROID app testers in South America, Africa and the Middle East to test DropBit Bitcoin Wallet /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Daily: South Africa Mulls Crypto Tax, Opera Unveils Crypto Wallet For Desktop

Bitcoin Daily: South Africa Mulls Crypto Tax, Opera Unveils Crypto Wallet For Desktop submitted by prnewswireadmin to cryptonewswire [link] [comments]

Mobile Bitcoin Cash wallet coming to South Africa

Mobile Bitcoin Cash wallet coming to South Africa submitted by SAtechnewsbot to SAtechnews [link] [comments]

Centbee, South Africa-based Bitcoin wallet and merchant payment ecosystem, attracts funding from nChain

submitted by 0130Coyote to Bitcoincash [link] [comments]

Centbee, South Africa-based Bitcoin wallet and merchant payment ecosystem, attracts funding from nChain

Centbee, South Africa-based Bitcoin wallet and merchant payment ecosystem, attracts funding from nChain submitted by prnewswireadmin to prnewswire [link] [comments]

nChain takes stake in South Africa-based Bitcoin Cash wallet Centbee

nChain takes stake in South Africa-based Bitcoin Cash wallet Centbee submitted by mesra to CryptoCurrency [link] [comments]

What is the safest way for me to receive a large bitcoin payment?

Hi Everyone.
I am new to bitcoin and I am about to sell some art and the buyer wants to pay in bitcoin. At first, I was hesitant because of all the scans that I've heard of but it might be the easiest way to do this exchange.
Here are my questions

What is the best wallet to use if you are receiving a large payment?

What are some of the scams I should look out for in my situation?

-My customer is ready to send me bitcoin and once I can confirm that I have got payment, I can give the pieces to her.

. Will I have to declare the bitcoin I receive?

. What is the safest and fastest way to get dollars for my bitcoin.

These are the questions I have for now. If anyone of you reading this is interested in helping me further privately. Your assistance will be greatly appreciated.
submitted by InternationalMaybe88 to BitcoinBeginners [link] [comments]

[OFFER] - Luno £15/€23 -> £10/€15 from Luno + £5/€8 from me (PROOF OF PAYMENT inside)

COMPANY PROFILE
Luno.com is a global cryptocurrency company, with over 2 million customers in 40 countries. They specialize in services providing safely and easily buying, storing and learning about Bitcoin and Ethereum.
ELIGIBILITY
In order to use this offer You need to be resident of one of the following countries - Europe (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, France, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom), Indonesia, Malaysia, Nigeria, Singapore, South Africa, Uganda, Zambia
https://www.luno.com/en/countries

PROOF OF PAYMENT can be found here !

OFFER
Luno is giving you £10/€15 when you join, verify your profile and buy £100/€250 worth of BTC via their website.
I will send an additional £5/€8 via Revolut or cypto (DAI, ETH or BTC) once You get the bonus.

So in total You are getting £15/€23!

HOW
  1. Comment $bid and I will send You a message with my referral link.
  2. Register with Luno using my link, verify your profile.
  3. When You login to your Luno account navigate to right top corner and click REWARDS, and put my referral code there (which I provide You with when You bid on my offer).
  4. Transfer minimum of £100 or €250 to your Luno account (SEPA and UK faster payment deposits are free!, or use your card) and buy £100 or €250 worth of BTC.
  5. The bonus will appear shortly afterwards in form of £10 or €15 worth of BTC in your Luno wallet. Then contact me, and I will send You the promised £5 or €8 for completing the offer via Revolut, or crypto (DAI, ETH or BTC).

You can then sell the Bitcoin via Luno and withdraw your money, or transfer your BTC to external wallet.

T&C
Fees
submitted by richierich55555 to signupsforpay [link] [comments]

Making A Living From Bitcoin

If you are like me, then you are probably always looking for new ways to generate income. There are always new opportunities out there to make a quick buck, however, I try and be selective and do extensive research into the opportunities I spot. I have recently become very interested in the opportunities that Bitcoin trading presents. Increasing your streams of passive income through a diverse range of methods can start to add up to a significant amount each month. Here are a few ways to start making money through Bitcoin.
Mining Bitcoin
Essentially mining means using computing power to secure a network to receive Bitcoin rewards. It is the oldest form of earning passive income through Bitcoin as it doesn’t require you to have cryptocurrency holdings. In the early days, this method was a viable solution, however, as the network hash rate increase most miners shifted to using more powerful Graphics Processing Units. Due to the vast increase in competition mining became the playing field of Application-Specific Integrated Circuits (ASICs) - electronics that use mining chips tailor-made for this specific purpose. Nowadays setting up and maintaining mining equipment requires substantial investment and technical expertise – but it's worth it if you happen to fit the criteria. Not to mention the cooling costs associated with running a machine powerful enough to mine Bitcoin.
Staking
Staking is a less resource-intensive alternative to mining, involving keeping funds in a suitable wallet and performing various network functions to receive staking rewards (i.e. Bitcoin). Usually, staking involves establishing a staking wallet and simply holding the coins. In other cases, the process will involve a staking pool. Some exchanges will do all this for you – all you have to do it keep your tokens on the exchange and all the technical requirements will be taken care of. This is a great way to increase your Bitcoin holdings with minimal efforts.
Lending
Lending is a completely passive method to earn interest on your Bitcoin holdings. There are several peer-to-peer lending platforms available that enable you to lock up your funds for a period of time to later collect interest payments. The interest rate could either be set for the platform or based on the current market rate. This method is ideal for those looking for long term rewards, however, it is worth noting that locking your funds in a smart contact always carries the risk of bugs.
Finding a Bitcoin Trading Company
For those who are less technically inclined and don’t have a firm grasp of how Bitcoin trading works, there is always the opportunity of finding a company that will trade on your behalf. The issue with this is that there are many seedy companies who claim to do this but then end up ripping you off. In order to have peace of mind, you need to find a Bitcoin trading company that understands the market and is reputable enough. I stumbled across Mirror Trading International, a company that operates out of South Africa. What immediately stood out for me was that they were transparent and professional in their engagements. Daily profits are paid on the days where there are profits recorded. In addition to this, they have made the entire registration and withdrawal process as simple as possible. All you have to do is simply fund your account with the minimum fund value and you can start earning. If you do need to access the funds, then this is a simple process that you have full control of.
I would suggest everyone to do their research and keep an open mind. The thousands of testimonials, along with their members from all across the world is testament that they are a legitimate company that is sustainable.
submitted by DavidDekel2020 to GrowBitcoin [link] [comments]

[OFFER] - Luno £15/€23 -> £10/€15 from Luno + £5/€8 from me (PROOF OF PAYMENT inside)

COMPANY PROFILE
Luno.com is a global cryptocurrency company, with over 2 million customers in 40 countries. They specialize in services providing safely and easily buying, storing and learning about Bitcoin and Ethereum.
ELIGIBILITY
In order to use this offer You need to be resident of one of the following countries - Europe (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, France, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom), Indonesia, Malaysia, Nigeria, Singapore, South Africa, Uganda, Zambia
https://www.luno.com/en/countries

PROOF OF PAYMENT can be found here !

OFFER
Luno is giving you £10/€15 when you join, verify your profile and buy £100/€250 worth of BTC via their website.
I will send an additional £5/€8 via Revolut or cypto (DAI, ETH or BTC) once You get the bonus.
So in total You are getting £15/€23!

HOW
  1. Comment $bid and I will send You a message with my referral link.
  2. Register with Luno using my link, verify your profile.
  3. When You login to your Luno account navigate to right top corner and click REWARDS, and put my referral code there (which I provide You with when You bid on my offer).
  4. Transfer minimum of £100 or €250 to your Luno account (SEPA and UK faster payment deposits are free!, or use your card) and buy £100 or €250 worth of BTC.
  5. The bonus will appear shortly afterwards in form of £10 or €15 worth of BTC in your Luno wallet. Then contact me, and I will send You the promised £5 or €8 for completing the offer via Revolut, or crypto (DAI, ETH or BTC).

You can then sell the Bitcoin via Luno and withdraw your money, or transfer your BTC to external wallet.

T&C
Fees
submitted by richierich55555 to signupsforpay [link] [comments]

[OFFER] - Luno £15/€23 -> £10/€15 from Luno + £5/€8 from me (PROOF OF PAYMENT inside)

COMPANY PROFILE
Luno.com is a global cryptocurrency company, with over 2 million customers in 40 countries. They specialize in services providing safely and easily buying, storing and learning about Bitcoin and Ethereum.
ELIGIBILITY
In order to use this offer You need to be resident of one of the following countries - Europe (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, France, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom), Indonesia, Malaysia, Nigeria, Singapore, South Africa, Uganda, Zambia
https://www.luno.com/en/countries

PROOF OF PAYMENT can be found here !

OFFER
Luno is giving you £10/€15 when you join, verify your profile and buy £100/€250 worth of BTC via their website.
I will send an additional £5/€8 via Revolut or cypto (DAI, ETH or BTC) once You get the bonus.
So in total You are getting £15/€23!

HOW
  1. Comment $bid and I will send You a message with my referral link.
  2. Register with Luno using my link, verify your profile.
  3. When You login to your Luno account navigate to right top corner and click REWARDS, and put my referral code there (which I provide You with when You bid on my offer).
  4. Transfer minimum of £100 or €250 to your Luno account (SEPA and UK faster payment deposits are free!, or use your card) and buy £100 or €250 worth of BTC.
  5. The bonus will appear shortly afterwards in form of £10 or €15 worth of BTC in your Luno wallet. Then contact me, and I will send You the promised £5 or €8 for completing the offer via Revolut, or crypto (DAI, ETH or BTC).

You can then sell the Bitcoin via Luno and withdraw your money, or transfer your BTC to external wallet.

T&C
Fees
submitted by richierich55555 to signupsforpay [link] [comments]

Forex Trading in Kenya.

Someone posted on here a few days ago asking about forex and forex trading in Kenya, I have gone through the responses and clearly, most people don’t have an idea. It is 3am in the morning and am in a good mood so let me make this post. This will be a comprehensive and lengthy post so grab a pen and paper and sit down. We’ll be here a while.
FIRST OF ALL, who am I..?
I am a forex trader, in Nairobi, Kenya..i have been actively involved in forex since I found out about it in Feb 2016 when I somehow ended up in a wealth creation seminar (lol) in pride inn Westlands, the one close to Mpaka Rd. Luckily for me, it was not one of those AIM global meetings or I’d be on Facebook selling God knows what those guys sell. I did not take it seriously till August of the same year and I have been active ever since.
I don’t teach, mentor or sell a course or signals, I trade my own money. I am also posting from a throwaway account because I don’t want KRA on my ass.
What the fuck is forex and forex trading.
In simple plain English, forex is like the stock market but for currencies. Stock Market = Shares, forex = currencies. If you want more in-depth explanation, google is your friend.
These currencies are pegged on specific countries, united states- dollar, UK- pound, euro zone- euro, Switzerland- Swiss franc, Kenya- Kenya shilling.. you get the point. Now, there are specific events and happenings between these economies that affect the movement and values of the currencies, driving their value (purchasing power up and down). Forex trading exploits these movements to make money. When the value is going up, we buy and vice versa (down –sell)
Is forex trading illegal in Kenya? Is it a scam?
Illegal, no. scam, no. All the banks in the world do it (KCB made about 4 billion from trading forex in 2019)
Have there been scams involving forex in Kenya?
Yes. Here is one that happened recently. This one is the most infamous one yet. Best believe that this is not the end of these type of scams because the stupidity, greed and gullibility of human beings is unfathomable.
However, by the end of this post, I hope you won’t fall for such silliness.
What next how do I make it work..?
Am glad you asked. Generally, there are two ways to go about it. One, you teach yourself. This is the equivalent of stealing our dad’s car and hoping that the pedal you hit is the brake and not the accelerator. It is the route I took, it is the most rewarding and a huge ego boost when you finally make it on your own. Typically, this involves scouring the internet for hours upon hours going down rabbit holes, thinking you have made it telling all your friends how you will be a millionaire then losing all your money. Some people do not have the stomach for that.
The second route is more practical, structured and smarter.
First Learn the basics. There is a free online forex course at www.babypips.com/learn/forex this is merely an introductory course. Basically it is learning the parts of a car before they let you inside the car.
Second, start building your strategy. By the time you are done with the babypips, you will have a feel of what the forex market is, what interests you, etc. Tip..Babypips has a lot of garbage. It is good for introductory purposes but not good for much else, pick whatever stick to you or jumps at you the first time. Nonsense like indicators should be ignored.
The next step is now the most important. Developing the skill and building your strategy. As a beginner, you want to exhaust your naivety before jumping into the more advanced stuff. Eg can you identify a trend, what is a pair, what is position sizing, what is metatrader 4 and how to operate it, what news is good for a currency, when can I trade, what are the different trading sessions, what is technical analysis, what is market sentiment, what are bullish conditions what is emotion management, how does my psychology affect my trading (more on this later) an I a swing, scalper or day trader etc
Mentors and forex courses.. you have probably seen people advertising how they can teach and mentor you on how to trade forex and charging so much money for it. Somehow it seems that these people are focused on the teaching than the trading. Weird, right..? Truth is trading is hard, teaching not quite. A common saying in the industry is “Those who can’t trade, teach” you want to avoid all these gurus on Facebook and Instagram, some are legit but most are not. Sifting the wheat from the chaff is hard but I did that for you. The info is available online on YouTube, telegram channels etc. am not saying not to spend money on a course, if you find a mentor whose style resonates with you and the course is reasonably priced, please, go ahead and buy..it will cut your learning curve in half. People are different. What worked for me might not work for you.
Here are some nice YouTube channels to watch. These guys are legit..
  1. Sam sieden
  2. Cuebanks
  3. TheCoinFx
  4. The trading channel
  5. Astro
  6. Forex family
  7. Wicksdontlie
Advanced stuff
  1. ICT
After a short period of time, you will be able to sniff out bs teachers with relative ease. You will also discover some of your own and expand the list. Two tips, start with the oldest videos first and whichever of these resonates with you, stick with till the wheels fall off.
How long will it take until things start making sense
Give yourself time to grow and learn. This is all new to you and you are allowed to make mistakes, to fail and discover yourself. Realistically, depending on the effort you put in, you will not start seeing results until after 6 months. Could take longeshorter so there is no guarantee.
Social media, Mentality, Psychology and Books
Online, forex trading might not have the best reputation online because it takes hard work and scammers and gurus give it a bad name. However, try to not get sucked into the Instagram trader lifestyle as it is nowhere close to what the reality is. You will not make millions tomorrow or the day after, you might never even make it in this market. But that is the reality of life. Nothing is promised, nothing is guaranteed.
Your mentality, beliefs and ego will be challenged in this market. You will learn things that will make you blood boil, you will ask yourself daily, how is this possible, why don’t they teach this in school..bla bla bla..it will be hard but growth is painful, if it wasn’t we’d all be billionaires. Take a break, take a walk, drink a glass of whatever you like or roll one..detox. Chill with your girl (or man) Gradually you will develop mental toughness that will set you up for life. Personally, I sorta ditched religion and picked up stoicism. Whatever works for you.
Psychology, this is unfortunately one of the most neglected aspects of your personal development in this journey. Do you believe in yourself? Can you stand by your convictions when everyone is against you? Can you get up every day uncertain of the future? There will be moments where you will question yourself, am I even doing the right thing? the right way? It is normal and essential for your growth. People who played competitive sports have a natural advantage here. Remember the game is first won in your head then on the pitch.
Books: ironically, books that helped me the most were the mindset books, Think and grow rich, trading for a living, 4 hour work week, the monk who sold his Ferrari..just google mindset and psychology books, most trading books are garbage. Watch and listen to people who have made it in the investing business. Ray Dalio, warren, Bill Ackman and Carl Icahn.
This is turning out to be lengthier than I anticipated so I’ll try to be brief for the remaining parts.
Brokers
You will need to open up an account with a broker. Get a broker who is regulated. Australian ones (IC Market and Pepperstone) are both legit, reliable and regulated. Do your research. I’d avoid local ones because I’ve heard stories of wide spreads and liquidity problems. International brokers have never failed me. There are plenty brokers, there is no one size fits all recommendation. If it ain’t broke..don’t fix it.
Money transfer.
All brokers accept wire transfers, you might need to call your bank to authorize that, avoid Equity bank. Stanchart and Stanbic are alright. Large withdrawals $10k+ you will have to call them prior. Get Skrill and Neteller if you don’t like banks like me, set up a Bitcoin wallet for faster withdrawals, (Payoneer and Paypal are accepted by some brokers, just check with them.)
How much money can I make..?
I hate this question because people have perceived ceilings of income in their minds, eg 1 million ksh is too much to make per month or 10,000ksh is too little. Instead, work backwards. What % return did I make this month/ on this trade. Safaricom made 19.5% last year, if you make 20% you have outperformed them. If you reach of consistency where you can make x% per month on whatever money you have, then there are no limits to how much you can make.
How much money do I need to start with..?
Zero. You have all the resources above, go forth. There are brokers who provide free bonuses and withdraw-able profits. However, to make a fulltime income you will need some serious cash. Generally, 50,000 kes. You can start lower or higher but if you need say 20k to live comfortably and that is a 10% return per month, then you can do the math on how big your account should be. Of course things like compound interest come into play but that is dependent on your skill level. I have seen people do spectacular things with very little funds.
Taxes..?
Talk to a lawyer or an accountant. I am neither.
Family? Friends?
Unfortunately, people will not understand why you spend hundreds of hours watching strangers on the internet so it is best to keep it from them. Eventually you will make it work and they will come to your corner talking about how they always knew you’d make it.
The journey will be lonely, make some trading buddies along the way. You’d be surprised at how easy it is when people are united by their circumstances (and stupidity) I have guys who are my bros from South Africa and Lebanon who I have never met but we came up together and are now homies. Join forums, ask questions and grow. That is the only way to learn. Ideally, a group of 5-10 friends committed to learning and growth is the best model. Pushing each other to grow and discovering together.
Forex is real and you can do amazing things with it. It is not a get rich quick scheme. If you want a quick guaranteed income, get a job.
And now it is 5am, fuck.
This is oversimplified and leaves out many many aspects.
Happy to answer any questions.
submitted by ChaliFlaniwaNairobi to Kenya [link] [comments]

Had some thoughts on economics.

This is how I've been doing things in my Digital Perdition chronicle / narrative for Shadowrun for years. If this is useful, feel free to steal it.
I assume this probably isn't a new idea, but in my world, Nuyen is a form of cryptocurrency, like bitcoin or ethereum. It's also a "smart" currency, in that it can autonomously do things, all by itself. Any "nuyen app" on any comlink can, with a very simple user-facing interface, create things like escrows, trusts, provisional holdings, task verified transactions, etc. As long as the system can autonomously verify the information some how in the outside world, it can interact with it. (This also means the system is somewhat fallible and can be hacked / spoofed / fooled, which can lead to interesting emergent narratives / plots all on its own).
The fact that it's a cryptocurrency also informs the logic of what happens if Nuyen is copied. Ordinarily, this doesn't happen, and "naked nuyen" (nucoin outside of a wallet app or not encrypted on a credstick) is very suspicious, and if you're going to accept it, you need to be able to verrify it in real time, like right now, and transfer it to your account before you leave this dark alley / a abandoned warehouse transaction, or not accept it at all if you don't have signal. But if you do some how manage to clone some Nuyen, then just like crypto, and there's two of the exact same nucoin, then it's whoever syncs it to their account first. The other is considered the forgery. So that can create a "race against the clock" scenario if two opposing forces have the bag, the same bag, and need to get back to civilization before the other guy does. (This might not even come up in your games, but I play in a lot of areas like, in the middle of the ocean, pirates and atolls, as well as extremely rural northern Canada, South American jungles, and sub-Saharian Africa, exploring ancient blood mage / cultist desert ruins, etc, so often, "spotty signal" is an environmental hurdle / plot point.)
We also have "credcoins" in addition to regular old credsticks.
A "credcoin" is basically like an SD card, but with a poker-chip style plastic housing around it, to make it more handleable. The chip holds the actual encrypted nucoin (like a credstick) so they're not naked nuyen (see above), but they've also got an optical code, like a QR code, printed on them. They can be used in vending machines in 3rd world areas where signal might be spotty, or traded in physical transactions.
The way they work, is that we've written into the narrative that a certain block of numbers in the "nuyen hash" of each nucoin, maybe like the last five digits or something, who knows, but that there's a world wide industry standard number to indicate that these nuyen are dedicated for physical use. Sort of like how some IP addresses are reserved for localhost or LAN. If any system, any wallet app, sees these digits, it wont let them be "deposited". Only a physical bank can do it. This prevents someone from just scanning a credcoin, depositing the nuyen, and now the coins still look valid, but are useless. If you wanted to "deposit" them, you'd take them to a bank, they would scan them and verify, add them to your account, and remove those coins from circulation immediately by physically destroying them (or feeding them into a hopper to be able to 3d print new ones). They'd also charge you a fee for the overhead of the cost of actually producing currency, sort of like those CoinStar machines at Walmart that charge you a fee for counting all your change.
Speaking of counting change... That there's an optical code on credcoins makes that easy, too. Anyone with AR (augmented reality -- so basically, anyone, even if it's only through a hand held comlink screen, but usually AR contact lenses, glasses, goggles, or cybereyes) can just look at a credcoin and immediately know how much it is. You can also dump them out on the table, stand back so you get them all in frame, and just see a total for how much the value of all of them are. Each credcoin already has an ARO, but if there's a shit load of them together in close proximity, the AROs just merge together into a single one so as not to be "spammy". If you want to block the AROs, you can store your credcoins in signal blocking bags, containers, or metal coin rolls. Credcoins are also slightly different sizes and colors to tell the denomination at a glance, as well.
Anyway, I hope some of those ideas are useful for your games. :)
submitted by Cronyx to Shadowrun [link] [comments]

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How To Buy or Sell Bitcoin or Ethereum in South Africa 2019 method using Luno

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