Readers of my blogs (not that I have the time to plough out tons of them) may know that besides having a passion for advertising, I have an interest in blockchain technology and a passion for bitcoin. Bitcoin is a fascinating and disruptive technology, and besides having the potential to make people seriously wealthy, could also change the way we pay for things.
With the growing awareness – and interest in – bitcoin as a means of remittance and a creator of wealth, more and more people in more and more countries are looking to buy the crypto-currency, and asking how and where they can buy it. The fact is, buying bitcoin (or BTC as it is more commonly known) is easy. All you need to do is search online for eg “Buying and selling bitcoin in South Africa or ““Buying bitcoin in Nigeria and Ghana”. A no-brainer, I know.
I typically buy bitcoin on www.localbitcoins.com but there are two other reputable platforms in South Africa that one could try:
The interest in bitcoin is spreading across Africa – most notably:
in Kenya, where the more popular and trusted platforms are:
In Uganda, where sellers and buyers of bitcoin include:
In Nigeria, where the most trusted platforms are:
In Ghana, where most people turn to:
Just make sure that you do your due diligence before deciding who to buy your bitcoin from.
Before being able to purchase the currency, though, you’ll need to open a bitcoin wallet – which you’ll do when you register an account. Next step is to place your order, indicating how many BTC you want. Once you’ve paid the amount shown, the bitcoin will be sent to your wallet. And you’re done. The whole process should take no more than a few minutes.
Buying bitcoin is a simple decision. A far bigger decision is: what to do with your bitcoin?
Spend it? Hold on to it? This is up to you, but if you had to ask me, I’d say: DON’T spend it but rather put it away and forget about it. (Or buy into a bitcoin mining pool, so as to increase the number bitcoin you hold).
At the beginning of last year, the bitcoin price was US$380. Today, it’s over US$1 000. Next year, it could be US$2 000. And the year after that, US$3 000. Of course, no-one knows for sure….but the fact that there can only ever be 21 million bitcoin in circulation means that the price will likely go up and up. Making it one of the best investments around.
It’s something you may want to keep your eye on.
Gerard Kavonic is an experienced copywriter, conceptualiser of advertising ideas and co-ordinator of marketing projects, running a small – tiny – advertising agency in Johannesburg. He is also an ardent proponent of bitcoin and is an active member of BitClub Network. He can be contacted on +27 83 444 9888 and emailed on email@example.com His skype address is gerardkavonic