How To Invest In Cryptocurrency
Unlike traditional money, or ‘fiat’, which is printed and backed by a centralized government, cryptocurrency has no physical form and exists digitally on a blockchain as tokens.

The 101 Guide For Beginners On How To Invest In Cryptocurrency.

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With a total market cap of around $2 trillion, cryptocurrency can no longer be ignored as an investment asset. Individuals and institutional investors realize the significant impact of crypto and blockchain on our society and the future of technology. In this guide, I will walk you through how to invest in cryptocurrency and make real money out of it.

Buying cryptocurrency has never been easier. You just register with an exchange, click “buy” and Bob’s your uncle — you’re a bonafide crypto investor.

But there’s more to investing than just buying your chosen cryptocurrency. As an experienced investor, you probably have many questions about crypto, including what you need to know before investing, how to buy it, and how to safely store (and protect) your investments.

We’ll answer these essential questions, and more, in this guide on how to invest in cryptocurrency.

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By the way, I almost missed this one. What is cryptocurrency?

Cryptocurrency is essentially digital money. However, it’s different from other digital payment systems, like credit cards, because crypto doesn’t require banks to manage and approve transactions.

Instead, all cryptocurrency transactions are recorded on a distributed digital ledger called the blockchain.

What to Know Before Investing in Cryptocurrency

Just before we can delve into how to invest in cryptocurrency in Kenya, there are a few things you should know as a beginner. Just to note the key ones: 

  • Cryptocurrencies are very volatile: Bitcoin is a prime example, as it’s not uncommon for it to drop 30% one week and then skyrocket to record highs the next. Bitcoin might be doing really well compared to when it first gained popularity, but the returns are neither stable nor guaranteed.
  • The cryptocurrency space is evolving rapidly: so it’s also important to pay attention to new developments that may affect your crypto holdings.
  • The cryptocurrency holdings are not insured: if your crypto exchange goes bankrupt, gets hacked, or simply closes down with little notice, you’re pretty much out of luck since you will have nobody to turn to and demand compensation.
  •  Many investors are not attracted to cryptocurrency: – This is due to its volatility and un-guaranteeing market in what lies in the future of cryptocurrency.
  • Do some research: If you decide to invest in cryptocurrency, it’s important to carefully research any digital coin before buying it. Pay attention to transaction fees when making crypto purchases because these fees can vary widely among currencies.

Having the above knowledge in mind as a beginner, then from where do you start to invest in cryptocurrency? let’s nail it right away?

How to Invest in cryptocurrency

I will take you through the whole process step after the other to help you achieve the maximum profitable outcome possible. In all these steps there are several options out there but I will focus on what is most secure to trade on and profitable.

Step 1: Set up a secure email

Most people will not tell you this, they assume this step and guess what. Assuming this step could cost you a loss for all your cryptocurrency to hackers. I love you guys and so I don’t want you to lose your hard-earned money to some lazy niggas out there. Does that make sense?

So, once you are decided to venture into the cryptocurrency business, you should use a secured, well-encrypted email address with two-factor authentication for guaranteed safety and privacy.

To achieve this, we recommend that you create a free account with ProtonMail

Once you have created your ProtonMail account. Log in and click on Security and then Enable Two Factor Authentification.

Step 2: Choose which cryptocurrency you want to invest in

Bitcoin isn’t the only digital currency in town. In fact, there are over 7,500 cryptos in existence.

Luckily, most exchanges only offer a couple of dozen. These are typically the most legitimate and viable coins with a respectable market cap.

Here are some examples of the top-traded cryptos today:

  • Bitcoin (BTCUSD): The king of cryptos is still around and available to purchase on every popular exchange.
  • Ethereum (ETH): The second most popular crypto by market cap achieved success through innovation, allowing for the recording of smart contracts to the blockchain.
  • Dogecoin (DOGE): Dogecoin was created in under 2 hours as a joke — a loving satire of cryptocurrency. Despite this, DOGE has reached an $85 billion market cap, highlighting the power of speculation and internet chatter.

So out of the thousands, which ones should you buy? Well, cryptocurrency is so speculative and volatile that choosing the right cryptos for your portfolio may come down to which ones you believe in. In this guide, we majored in Bitcoin.

Step 3: Choose a cryptocurrency exchange

An exchange is where you’ll be buying, selling, and, likely, storing your cryptos. Choosing a reputable, well-known exchange with a large selection of currencies is the best bet.

Cryptocurrency has been around long enough that the biggest exchanges have become quite robust and user-friendly. There are many that we may recommend overall, but here are three of the best exchanges for beginners:

You can find more crypto exchange platforms from The website will help you find other cryptocurrency exchange sites that can help you exchange cryptos in your local country. Under the cryptocurrency exchange list, select your country to find other local sites.

In this guide, we will use Paxful. Its user interface is simple and easy to use, actually the best for any beginner. Also, it is quite cheap to change Cryptos on it in the sense that the transaction cost and the minimum purchase required. Also, the confidence that comes with the live chat with sellers is super encouraging.

Here is a video to take you through how you can buy cryptocurrency

Use this link here to create your free Paxful account: 

Step 4: Determine how much crypto you want to buy

Follow the steps required by the exchange to submit and complete a buy order for one or more cryptocurrencies. How much crypto you should buy should be a personal choice. Cryptocurrencies are too unpredictable — you can’t build a 99% guaranteed wealthy future around them.

My recommendation is that you start small. Even if you bought the minimum required for an exchange site, it is still worthy for a beginner.

Step 5: Buy your crypto and transfer them to a wallet

Once you buy some crypto, your next decision is where to store them. You should not leave your cryptos on an exchange platform. Once you receive your cryptos after purchase, transfer them to a wallet. There are two major types of crypto wallets; hot wallets and cold wallets. We could discuss this in another post however for any beginner, starting with what we refer to as hot wallets will do you good.

Just like cryptocurrencies, there also are a vast number of Crypto hot wallets out there. Just to mention a few: Blockstream Green, Blue Wallet, Uphold, Edge, Blockchain, etc

Therefore, choose one of the wallets listed above and create an account a free account with them. Once you have an account with either of the hot wallets, transfer your bitcoins to your wallet. 

To do this, please watch the video above and keenly follow it to avoid misplacing your cryptocurrency.

Advantages of investing in cryptocurrency

  • Possibility of massive gains: Cryptocurrency, specifically Bitcoin, is the best-performing investable asset of the last decade. It may tank, or it may continue its skyward trajectory.
  • Support an emerging technology: Blockchain technology is touching nearly every sector — public, fintech, medical— and your investment in crypto are supporting those sectors.
  • You can earn some for “free”: You can’t “mine” stocks, nor can you watch short videos to earn free real estate — but you can do either to earn free crypto!
  • Buying crypto isn’t the only way to invest: Crypto and blockchain ETFs are convenient ways for stock traders to add crypto to their portfolios without exposing themselves to the high risk of holding actual crypto.

Disadvantages of investing in cryptocurrency

  • High risk and volatility: Crypto is still too unpredictable to bet the farm on, which is why traditional wealth advisors recommend limiting your portfolio allocation to 10% at max — if at all.
  • Vulnerable to theft, fraud, and scams: Squid is just the latest cryptocurrency scam where its developers made off with $3.38 million of investors’ money. Most victims of the 2014 Mt. Gox hack, where 850,000 Bitcoin was stolen, have yet to see a single coin returned.

How To Invest In Cryptocurrency recap

  • Set-up secure email
  • choose a cryptocurrency to invest in
  • Choose a cryptocurrency exchange platform
  • Decide the much you want to buy
  • Buy and move cryptos to your wallet

Our final thoughts

Above are the basics you should know just before you start investing in cryptocurrency. If you do choose to invest in crypto, be sure to self-educate on the risks, and best practices and keep an eye on the industry.

I once fell into a scammer’s trap and lost quite a lot of funds. I won’t like it that you also suffer the loss that’s why I put up this guide. You can be sure to excel in your cryptocurrency investments if you follow it.

Do you think something was left out that you want us to cover? Or have you ever used any of the wallets or exchange platforms listed above to save or exchange cryptos? what was your experience? Tell us something in the comment section.

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