Digital currency is continuing its successful tenure and is enticing the citizens of Uganda also. This has recently been revealed through a report published by ABC News. These Uganda based bitcoin adopters are looking for a supplementary source of income by adopting the bitcoin.
However, Stephen Kaboyo who is currently associated with Alpha Capital Partners stated that it is important that the investors should understand the risks associated with digital currency investments also. The positive perspective is that the locals in Uganda are very optimistic about the advantages of bitcoin.
Moses Semulya who is a doctor by profession revealed that it was quite difficult for him to buy medical equipment. He felt that the online transactions were quite expensive but after adopting the bitcoin things have changed for him completely.
Simply is optimistic about the future of the bitcoins. He states that he will readily invest in this digital currency rather than buying land. A Uganda based bitcoin miner Richard M. Bagorogo stated that he has been earning a lot since he stepped into the bitcoin business. The income is a lot in comparison to what he earned as a teacher, so all this news spells out hope for Uganda based investors who are eager to adopt the bitcoin.
Bagorogo recalls that the journey has not been easy for him and initially he was skeptical and people around him were apprehensive about Bagorogo’s idea of stepping into bitcoin business. Bagorogo unveiled the bitter truth and mentioned that the locals in Uganda are not interested in logic and mathematics.
This is why he has to sit down and explain to them how he gets and withdraws his money. This shows that people in Uganda still need more awareness and guidance about bitcoin investments. This is the only way digital currency business can truly prosper in Uganda.
It is important that Uganda locals should not invest blindly in the digital currency. They should first figure out the best exchanges and explore these exchanges. The best approach will be to start with minimum investments and see how things work out for them. This way the investors can reduce the chances of losses.
Once these locals are comfortable with how the digital currency operates, then they should make more investments. Apparently, it seems that this digital currency does have a bright future in Uganda and it will flourish in Uganda such as it has flourished in other regions of the world.