Cryptocurrency is becoming more and more popular, so much so that there are several apps for that. My boss mentioned an app for buying Bitcoin, Lunoand I knew I had to test it out. So a few days ago I downloaded the app and bought R50 in Bitcoin and R50 in Ethereum (high roller, I know). Here’s how to buy Bitcoin in South Africa.
Cryptocurrency is a digital decentralised currency that uses cryptography to secure transfers. These two features, decentralisation (no interference from central banks or governments) and the use of cryptography (secure, no steep transaction fees) arguably make cryptocurrencies so popular. An example would be Bitcoin.
You can set up price alerts so that you know when the cryptocurrency of your choice goes up or down.
You can invite friends and each earn R10 of Bitcoin when your friend spends R500 or more. (A bit of a high threshold, but if any of you are interested my code is ER45D)
You can also trade like you would with another forex. This seems really risky to me, so I haven’t done that yet.
What is really cool is that you can buy more Bitcoin with your Ethereum earnings and vice versa. At the moment I’ve only made R6 from Ethereum and R19 from Bitcoin. So I could use my Ethereum earnings to buy more Bitcoin.
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