Want to make some extra money online? Here’s an exciting new way to do that without needing any special skills. We will take you through the entire process step by step and after that, you can make your first transaction and get the extra cash today.
What is cryptocurrency
This is a digital currency that is liberated, in that, it is not controlled by any government or banking agency who tend to bend normal currencies to satisfy their selfish desires, it is like a global currency of virtual world. Just like normal currencies, cryptocurrency is traded through buying and selling, with the right moves, you can make significant profits through these trades. The main cryptocurrency is Bitcoin (one bitcoin is equal to more than KES 500,000, but you can also buy a smaller fraction of it), however, others have come up and they are collectively called altcoins.
How to make extra money
In Kenya, you can buy Bitcoins using MPESA via localbitcoins.com. The purchased Bitcoins can be sold to unique platforms like changehigh.com which converts your cryptocurrecy into normal currency such as US Dollars. Here’s the best part, changehigh.com converts the cryptocurrency with a higher exchange rate giving you more cash. For instance, if 0.01 bitcoin is currently equal to KES 6,000, when you convert it using changehigh.com, you end up getting more than 6,000.
It will much better to add amount of large like 8-12% higher rate then on market.
You can buy and sell your Bitcoins as many times as you want and get a extra money on every transaction!
The step by step process
This process assumes that you already have an MPESA account and a Paypal account as well. At Paypal.com, you can easily create an account in case you do not have one. Additionally, Paypal will guide you on how to connect it with MPESA.
Go to localbitcoins.com where you can buy bitcoins. Simply sign up with your details and log in
- Click “Quick Buy”
- Enter the amount you wish to spend in KES
- Indicate your country, Kenya
- Choose your preferred method of payment as MPESA
- Choose a buyer from the list shown and click “Buy”
- After confirmation, click “Send trade request”
Go to changehigh.com where you can sell your bitcoin and make a profit
Create an account by clicking “Sign up”
- Enter your email
- Enter password
- Confirm password
- Complete process by clicking “Sign Up”
Login to your new account
- Click “Sign in” in the top right corner
- Enter your email and password
- Click the big “Sign in” button below the password input section
Once you have successfully logged in, click the home button to create an exchange
- Enter amount of bitcoin you want to sell, you will be shown how much you will get in your Paypal account.
- Enter your Paypal account email where you want the money to be sent and click “Exchange now”
You will be taken to Coin Payments website which generates the bitcoin address needed to complete the sale.
- Choose the coin that you want to transact, in our case, it is bitcoin.
- Enter your email, first and last name in their respective boxes.
- Click “Complete checkout”
The bitcoin address is then generated, highlight it in full and copy it to your clipboard.
- Go to localbitcoins again and click bitcoin on the upper right corner and “Send bitcoin” button
- Paste the bitcoin address that you copied and the amount of coins you want to transact in the respective boxes.
- Press “Continue”
Cryptocurrencies require a waiting period of several minutes to complete a transaction, in the case of bitcoin, it has a network that conducts several confirmations before completing a sale.
- Track your transaction status under the dashboard section of changehigh.com
- Once transaction is complete, you get your money on Paypal account.
- Changehigh covers the 5% processing fees that Paypal charges, this leaves you with even more profits
Once your money is in Paypal, you can transfer it to your MPESA. You simply need to have them linked together, a process that is best explained by this video here.
Just like that, you have made yourself extra cash; you can repeat this process over and over and earn yourself more money.