By Theo Mwangi, COO at Bitlipa
Remember the first time you came across Bitcoin? The first thing that came to mind was probably ‘scam’. The thing is, Bitcoin is highly technical and it takes time to familiarize yourself with. That and the fact that there was not much information about this new cryptocurrency made it even more unattractive.
Such an environment was conducive for scammers and other phony and shady dealers. That in itself made it taboo and ironically its market was growing, exponentially. There are many reasons people joined this market. We won’t venture much into that right now.
As with dealing with any other asset class, it is important to do due diligence, in fact, it is a general rule if you are buying anything unfamiliar. Over the years, we have seen more material, research, exhibits, and meetups that are diving deeper and deeper into this technology. That simply means you have an advantage if you take the time to do some research.
Growth has also come in the form of online platforms, such as Bitlipa, that are at the forefront of making the process easier for players in their geographic jurisdiction. For example, users on our platform are able to exchange fiat for crypto and vice versa. This in itself is helping users to understand how the bitcoin infrastructure works. However, I still insist that one should do due diligence before trying to purchase any asset class.