This article is going to assume that you know what passive income is but nonetheless, it does no harm to briefly describe it here. So what is passive income? How can one earn passive income in Kenya? How often can I earn passive income? According to this article by Money Matters website, you can check out the link from here https://listenmoneymatters.com/passive-income-ideas They say, “passive income is when you continue to get paid after the work is done. This includes royalties from books, movies or songs and also revenue that comes from real estate investments or business investments where you don’t have to be present to earn it”. Now that you know what Passive Income is, you will have no difficulty in understanding the remainder of this article as it endeavors to show you how to earn passive income in Kenya by Buying and Selling Bitcoins, Monero and Ethereum in Kenya.
Should you be looking for information on How to Quickly Buy Ethereum Coins in Kenya Shillings via MPesa, Check out this post on How to Buy Ethereum with MPesa in Kenya
There are many ventures you can start to earn passive income in Kenya. Buying and Selling of Bitcoins, Ethereum, Monero and other Crypto Coins is one viable option that is a least explored avenue for making millions in Kenya Shillings. It is one of the easiest and passive ways in Kenya to make an extra coin (…read, lots of cash). Infact, a young kid, straight from high school could mint a good fortune in a short period of time with no tertiary education whatsoever other than knowing how to Buy and Sell Bitcoins, Monero and Ethereum to Kenyans. This kid could double and triple your office salary in a year’s time from a simple passive activity of Buying and Selling Bitcoins and Ethereum . One good thing about Buying and Selling of Bitcoin is that it happens online and there’s little or no effort required on your part other than accepting and declining Buy offers and deciding who to Sell your Bitcoins to. You will not need to fit into a clumsy suit to impress buyers, you will not get stuck in jam while going to your Bitcoin hustle ( where will you even be going?) you can Buy and Sell Bitcoin and Ethereum while situated anywhere on this planet and from any internet connected computer in Kenya including your phone. Buying and Selling of Bitcoin in Kenya is a passive and lucrative venture that is very flexible and totally hassle free!
See below Picture of Bitcoin Traders in Kenya who have done more than 3000+ and others more than 1000+ Bitcoin Transactions. You too can be like them.
Before we get into the gist of things ‘Bitcoin‘, ‘Monero‘ and ‘Ethereum‘, what reasons make people decide to seek alternative means, aside from their jobs to create extra streams of passive income in Kenya?
Your job may be so good, with a nice pay package such that, the thought of engaging in any other activities on the side, to make an extra shilling feel like an unnecessary strain on your stress free life. That’s fine if you are contented with your salary and job and you do not want any bother about creating more sources of making money. Hahaa! Well, if that is you, chances are that you may not agree with the below reasons as to why people aspire to have alternative ways of earning passive income in Kenya besides their daily job.
Reasons for choosing Bitcoin Trading as your preferred means of earning passive income in Kenya
So what are these reasons? These are just some of the reasons, they are not at all inclusive or exhaustive of what may be your reasons for desiring to create channels of earning passive income in Kenya. These are just some 5 reasons for guiding you. They are;
- You want a lot of money (We all do but most of us do not even know how to get it. Money must be made somehow so that we can be able to afford the best things in life and enjoy life)
- You are planning to build a house and want to save enough ( You want to start contributing more money to your sacco so that you can take a bigger loan to get the entire job done in one stroke of the hammer but your current contributions to your sacco would not allow you to take a bigger loan so you have to figure out how to make more serious money)
- Your children are about to get enrolled to school (You have done your math and based on the meagre salary you are earning, you know very well you will have to fork a great deal on that school fees when that time comes and you don’t know how you will manage with your current dismal salary)
- You want to buy a car (You badly want that ride but your salary and current savings are not about to get you there yet! Something has to be done real fast. You got to figure out how to make money and determine how you are going to earn extra income to supplement your current earnings)
- You have taken one, too many loans and their repayment plans and interests charged on every one of them do not leave you with much to take home after you get your paycheck at end of month. (While you got loans for building rentals or other investment that made you secure the loans, you will have to figure out a way to get by before your rentals and other investments that will earn you money in a near future are completed)
There are many reasons that will motivate you to think about creating ways of earning extra sources of income besides your daily job. Even if you do not have any commitment as of right now, you could get inspired to make more money for a good cause e.g. to prepare funds for your wedding day, educating your siblings, funding your studies, going for a holiday trip, repairing or painting your house, buying your wife a special gift on her birthday ( how about pulling into your wife’s office parking bay with a new car for her and calling her over lunch hour on her cellphone and telling her to check it out?). The reasons as to why you need more and more money are all well known to you and surprisingly enough, the ability and how to materialize your dreams of earning more money is also within your means. You have quite a number of options at your disposal that you can start pursuing right away including the one shown here of Buying and Selling Bitcoins in Kenya.
The 11TH Commandment. If you are truly Kenyan, you MUST always have One, Two or More Streams of earning Passive Income in Kenya
Your day job may be the best job you ever wanted. It may be your dream job with all the amazing perks you could only dream of when you had other low paying jobs in the past but that should not make you relax and forget that in the same way you signed the first contract to get hired or in the same way you signed the latest contract after getting promoted, on the flip side, in an unfavorable turn of events, you could also be signing the last document to confirm receipt of your dues payment after your current job contract is terminated willingly or unwillingly by either you or your employer. There’s an interesting street saying told by those who are cognizant of the unstable nature of jobs nowadays that goes, “getting employed is a sibling of getting laid off”. This wise street smarts insinuate that the employer who gives you financial freedom today by hiring you, is still the same parent / source of (… read, ‘could end up’) dispatching you to the abyss of abject misery and lack of financial freedom after they relinquish you off your duties ( … read, ‘after they sack you’) when they are done with you.
One more thing, never ever be fooled or scared by that stupid clause on your contract that states some sh*tty stuff about the illegality of having a side job, some even go further and stipulate an outright dismissal from your job if found engaging in any other business activities outside your job description (JD). Look here buddy, as long as you are not hustling on your side job during the stated work hours of your current employer, for all you care, those folks can go hang themselves! It should never, ever be forgotten by you that, “getting employed is a sibling of getting laid off”. Remember that every time you sign any job contract! The day sh*t hits the fan, no one will even bother to ask you how you get on with life. When the Grim Ripper visits, you are decimated! That day doesn’t have to catch you unawares like a snare, you can hold your lines of defense with a backup plan, and a well laid out passive income strategy to earn you an alternative source of revenue stream. Don’t just imagine it cannot happen to you. It does! There’s no recourse! The only way out is to put your sh*t together right now and start up something on the side for yourself.
Well, this is not meant to scare you, the intention is not meant to make you feel paranoid about retaining your job for the long term. It is only for the sole purpose of sensitizing you on the need of having something on the side, a revenue stream source of earning passive income in Kenya that you can always rely on or fall back to when in need whether you are in a stable job or not.
Many well doing business ventures started small, some as a pass time money making activity then later as a reliable passive income venture that begged their owners to hire assistants or get business partners to help them run them before they later bloomed to what they are now. You too can grow your passive income to such lengths including your passive income venture of Buying and Selling of Bitcoins in Kenya.
Why you should choose Buying and Selling of Bitcoins as your source of Passive Income in Kenya
Different side hustles have varying capital requirements, time commitments, complexities and levels of attention required to run them well, all being factors that make them either appealing or unfavorable to those who want to pursue them as viable business ventures.
Unlike other business ventures you could consider for your part time job, Buying and Selling of Bitcoin in Kenya is a passive and lucrative venture that is very flexible and totally hassle free!
Here are 21 Reasons why Buying and Selling of Bitcoins is your best bet as your alternative source of revenue stream of earning passive income in Kenya. They are;
- Buy and Sell Bitcoin at any time of the Day.There is no preset time as regards when Bitcoin trading should to take place. You can actually, at your own pleasure and convenience, Buy and Sell Bitcoin at any time of the day or night. Remember, different countries exist in different time zones. Look at this possible scenario, it could be at night in Kenya but at that minute, in US, it is day time and a client in US is willing to buy Bitcoin from you at that very minute and pay you with US Dollars. This means, you can even engage in your part time job after work or even early in the morning. What other business gives you so much flexibility with time?
- Work from anywhere in the World including working from HomeWhen you choose to trade in Bitcoins in Kenya, there is one problem you quickly solve, you can able to move from one place to another while you still go about your business of Buying and Selling Bitcoins online. Note that, trading of Bitcoins happens online. This means that as long as where you choose to go there’s internet, you already have an enabling environment. One other advantage of Buying and Selling Bitcoins is that you do not have to leave home to go work. You can stay at home especially for mothers with newborns, physically challenged persons, people on leave and attend to house chores and other activities at home while you go about your Bitcoin business. Convenience at its best!
- No need to setup a Business Premise or Rent a StallSome business part time business ventures in Kenya require you to setup a stall or shop somewhere like running a salon, boutique or a photo studio. Opening a stall where you are not likely to attract a large clientele group is an exercise in futility. With Bitcoins, you will only be able to sell and buy online (via internet connection) and will thus not require to rent a stall or open your business in an uptown mall.
- Your Bitcoin Customers are all over the WorldThe beauty of trading in Bitcoins is that it opens you to a large pool of likeminded individuals, buyers and sellers of Bitcoins like you in Kenya and all over the world that you can Sell Bitcoins to and Buy Bitcoins from. Many other business entities in Kenya do not sell and offer services to people far away from their locality. This however is not the case with the Bitcoins and Crypto Coins business because with internet, you can reach people in various geographical regions and people from all walks of life all of which are your potential clients and business partners, translating to big gains for you.
- Little investment or none is required to get started with trading in BitcoinsTo get some businesses started in Kenya, you will require a significant amount of capital at your disposal to secure operational licenses, setup base, hire attendants, secure and furnish a premise, buy goods for sale, get an official telephone line among a number of many other requirements and mind boggling list of to do things before you get up your elephant for all to see it. Buying and Selling of Bitcoins will not push you to your limits. The most important asset you need is just an internet connection and infact, you do not need it always, only when you are selling and buying. See how convenient it is to think about Buying and Selling Bitcoins to earn a stress free passive income?
- Trade Bitcoins with verified Clients and TradersThere is one little known thing about Bitcoin Exchanges. Bitcoin Exchanges are where people Buy and Sell Bitcoins. Hey, by the way, to Buy and Sell Bitcoins, you do need to have an account on a Bitcoins Exchange. To open a Bitcoins Exchange is FREE. You can Register for one at Localbitcoins.com and Start Buying and Selling Bitcoins right now. Now that you have a Bitcoins account and know what Bitcoins Exchanges are, you do not need to worry about Scammers or Trading with Fraudulent individuals who will rip you off your money. Bitcoin Exchanges like Localbitcoins.com help the Bitcoin community to vet the Bitcoin Traders who trade on their platform such that you can see for yourself the feedback left by other Bitcoin traders who have traded with the same person. This feedback gives a Bitcoin Trader a percentage rating that helps them attract more Business depending on high their ratings are or make them lose Business depending on how their ratings are.
- High Levels of Security provided by Bitcoin Exchanges’ Escrow feature to Prevent FraudEver sent money to the wrong person e.g via MPesa? Did you manage to get back your money? How long did it take you to get back your money back? These and other related issues are not prevalent on Bitcoin trading platforms because of the Escrow feature on Bitcoins Exchange. It is like an intermediary where the Bitcoin Seller can deposit ther Bitcoins temporarily ( usually less than a minute) before the Buyer gets them as they await to receive payment from Buyer. Once Bitcoin Seller receives payment from Bitcoin Buyer, the Bitcoin Seller releases the Bitcoin from Escrow to the Bitcoin Buyer. The same case happens when you are Buying Bitcoins. The Escrow feature makes it easy to arbitrate over any anomalies such that there is zero chance for fraudsters and thieves to ever make away with anyone’s money.
One other advantage of trading on Bitcoin Exchanges platforms like Localbitcoins.com is that Bitcoin Buyers and Bitcoin Sellers are vetted, their identification documents submitted and archived, their mobile phone numbers that they use for Bitcoin trading are verified and so are their email addresses. These and other pertinent security procedures carried out on Bitcoin Exchanges e.g. like submitting your Passport Photo Selfies holding your Identification Documents and your Bitcoin Exchange Account number with the Date the day you are requested to do that makes trading on Bitcoin Exchanges much safer and secure for the Bitcoin trading Community. It removes headaches and stress of dealing with suspicious character.
- It is Possible to Trade Bitcoins with More than one CurrencyThis is big item! You could be dealing US Dollars alongside Kenya Shillings or even more currencies depending on the nature of your transactions and the preferred currency by your clients. The advantage with this is that, take for instance, those moments you want to buy something overseas and you do not have e.g. US Dollars and you now have to convert your current Kenya Shillings to US Dollars to buy that commodity. The conversion rates can eat up into your money and reduce your earnings. The good thing with trading with multiple currencies is that you always have a stash of several currencies at your disposal that you can use to even buy Bitcoin from people in other countries when it is priced low there and sell it in another country where it is priced high. This is called arbitrage. If you can be keen to monitor these variations and master the timings correctly and execute perfect trades, you can significantly grow your portfolio and ultimately increase your passive income.
- Buy and Sell Bitcoins from your Mobile Smart Phone while on the moveSince a mobile phone can connect to the internet, allow you to browser web pages and gain access to your Bitcoin Exchange account, you can Buy and Sell Bitcoins while commuting in all the major cities and towns in Kenya. Unlike a Desktop computer which is bulky to carry around, a mobile smart phone is light, retains power for long and you can carry it with you wherever you go and hence use it at your convenience to process Bitcoin Buy offers and Sell Bitcoins while you are traversing different localities and regions in Kenya.
- No bosses. You are your own BossTrading in Bitcoins is one hassle free business activity that you can really enjoy to wake up to and work for long hours. There are no tyrannical, manipulative and narcissistic bosses you have to be wary of. You are your own boss! You can set your own realistic targets for the day and once you meet them you can decide what to do next or even choose to exceed them. No one will push and boss you around to make you donkey for them and in the end pay you peanuts!
- Grow your Bitcoin Business at your own paceA time demanding startup can miserably fail at its infancy if not accorded the necessary attention it requires to get on its feet. Many a great business ideas in Kenya fail during implementation because their owners could not manage to be there at all times to supervise them and oversee their growth. The beauty of venturing into Buying and Selling of Bitcoins is that, should you decide to take a pause and attend to other issues away from your business, you will not need to renew business permits, renew business operation licenses when you resume, you will not be paying rent when you are away, there will be no restrictive constraints to you getting back to your hustle when you are ready to.
The Bitcoin market always has ready Buyers and willing Sellers whether it is at night or during the day. You will decide when to trade on Bitcoins and be able to accommodate other commitments you have on the side like your day job. When you go on leave or when you have some free time, you can do more trades than normal days to earn more passive income during these days.
- Easy to Diversify form Bitcoin Trading into Trading with other Crypto CoinsFolks who Buy and Sell Bitcoin for profits sooner than later develop interest in trading in other Crypto Coins like Ethereum, Dash, LiteCoin, BitCash, Monero, Verge etc. Not only do they diversify their portfolios, they also make another stream of making more passive income. Take note that it is easier and less costly to buy other Crypto Coins and start trading in them by using Bitcoin than by using Kenya Shillings.
- None or Fewer Bitcoin Trading Regulations and Constraints by government agencies and County bylawsThere are none or fewer restrictive regulations to venture into Buying and Selling of Bitcoins. You will not receive visits from City Council officials in your email or your Bitcoin Exchange account coming to check out the validity of your Business permits. No county bylaws or any other of those laws that trouble shop owners, business premises will bother you with your Bitcoin Trades. No one even cares what you do as long as you are not defrauding people online. Choosing to trade in Bitcoins is free of those headaches that make running a business in Nairobi and other towns in Kenya a nightmare. Hey, and there’s also no cartels or middle men! If you do not want a side hustle to make you lose your head and become mad you could consider going full scale into the Crypto World and specialize in Trading Bitcoins and other Crypto Coins.
- No wasting Time on Traffic jamBy the time Nairobians struggle to make it to work in the morning, getting overcharged in public vehicles and getting stuck in traffic jam, you will have done one, two or more Bitcoin trades and netted an extra coin before you get to office. That one hour or more in the morning while commuting to work is enough time to find Bitcoin offers you can Buy cheaply and sell on later during the day when the market is abuzz with Bitcoin Activity.
If you do not have another job you keep, assuming you were not trading Bitcoin over the night and that by 6 am you were already Buying and Selling Bitcoin , you will be one hour or two ahead of those who wrestled the traffic jam to get to their workstations. By 12 noon, you could have made many trades that earned you a good day’s wage.
- Make Many Friends and Associates online while Buying and Selling BitcoinJust like in any other social interactions we have with people, you will meet many likeminded people online and establish business relationships with them. What else beats hanging out with folks with whom you are in the same type of hustle with? You all get to share your experiences and help each other reach new targets.
- Trading in Bitcoins is a Clean Business where Sanity and Orderliness are ParamountAre you the type of a person that does not feel comfortable yelling insults and expletives at their peers who are at fault, and would rather address issues in amicable ways because you believe that both the aggrieved and offending parties should not lose their respect for each other during conflict resolutions? Well, if that feels like you, pursuing a Bitcoin or Crypto Coin venture could be the best for you. In most Bitcoin trading platforms like Localbitcoins.com, rarely do you ever find things falling out of hand because the System is so well automated such that things run to near perfection. Only a mad man would have balls to cause drama and because of that, their short period of mayhem would be shortlived. You can block anyone, should you suspect they are of some suspicious character even if you have never traded with them before, so that you never ever get to meet them leave alone Buying or Selling Bitcoins with them.
- Trading in Bitcoins gives you a Peace of mindBuying and Selling of Bitcoin never puts you on the edge unlike other mind boggling types of businesses in Nairobi Kenya. Imagine how hawkers in the streets of Nairobi have to always be on the lookout for the Kanjo battalion (city council officers) so that they do not get busted and lose their merchandise or worse still get apprehended. Now, are you going to concentrate on doing business and listening to your client or are you going to be planning how you will make a split second fold up of your business and dash from one street to another with your merchandise all the while taking substantial doses of freely dispensed teargas by the police too as you get evicted from one street to another? This page does not intend to demean our brothers and sisters who hustle real hard on the streets of Nairobi to eke out a living, hope you understand that. One thing is for sure, it is not for the faintest of hearts. Trading in Bitcoin on the other hand is a very smooth endeavor that once you learn the ropes, everything else will fall into place very fast and your potential clients are so many and distributed all around the world.
- Easy to learn Forex Trading if you know how to Trade in Bitcoins and add another Passive Income StreamDo you know those types of jobs that you learn while doing another job? Some possible examples are, a Receptionist could easily double up as a Customer Care representative as their jobs somehow overlap each other while a Computer Electrical Engineer could easily end up as a Software Programmer and a Marketer on the other hand could multi task as Sales Representative. These may not be some of the best examples but they help inform that, once you become a prolific Bitcoin Trader, diversify into Forex Trading will not be a alien vocation for you. Infact, you could be doing both at the same time and raking two passive revenue streams. Later on you could venture into Trading stocks on the bourse and even buy TBills with your rsearve cash.
- It is Easy, Simple and Quick to Learn How to Buy and Sell Bitcoins and also Teach other People How to do it tooLearning to trade in Bitcoin is not a complex affair as many would want you to believe. Those who are used to doing shoddy jobs, scamming people and defrauding people off their monies know how difficult it is for them to defraud people on Bitcoin Exchanges because of the safety measures in place. They would rather point your attention to some other type of venture where they will entice you with quick money making schemes while undercutting you behind the scene to cash in on your naivety.
To get started trading in Bitcoin only requires you to Register a FREE Bitcoin account, Buy Bitcoin from who you want and Sell to who you want. That’s all there is. The number of times you frequently decide to do it is what separates you apart from the rest. The more trades you make the more you increase your earnings. It is that simple.
- Bitcoin Transactions are Instantaneous, nothing like waiting for 30 or 60 days for an Invoice to be Paid.Ever waited for a cheque to mature or waited for days on end for your invoice to get processed for you to get paid? If you sell to someone 2 Bitcoins, which is over KShs 1 million for the 2 Bitcoins as of this time of writing, you will get your cash right there and then. In a minute or less. Once you agree on the terms of payment with your Client, transactions happen very fast. That’s the beauty of Bitcoin Trading. It is stress free. Remember the Escrow feature mentioned up there, it makes Bitcoins Trading take place quickly with both Buyers and Sellers having trust in the process at the time of transacting.
- Trading in Bitcoins gives you Job Satisfaction, Good Health and More time for Family, Friends.Once you decide and get started with Buying and Selling Bitcoins , you will soon realize how flexible it is and how simple it is to plan out your work. This ease of doing Business will free up your hands to be able to allocate your time to other things and attend to more issues demanding your attention. This is unlike getting stuck in a 9 am – 5 pm job some of which will require you to attend work on Saturdays and Sundays hence making you miss out on special events that take place over the weekend like attending weddings. If you work on Saturdays, you might not have adequate time to have time or visit your significant other who lives in a far town in Kenya. With Bitcoin Trading, you will be able to accommodate all the calendar events you have scheduled and attend every one of them as need be while you also market and educate people you meet their about your Passive Income hustle.
Now that you know the Benefits of Buying and Selling Bitcoins in Kenya as your primary source of Passive Income, how do you now get started?
How to start Buying and Selling of Bitcoin in Kenya as a source of Passive Income
- To trade in Bitcoin, you need to have a Register for a Bitcoin trading account at a Bitcoin Exchange. To get a Bitcoin account is FREE. It is like opening a Gmail E-mail account online and you can actually do so from the comfort of your Smart Phone or from any Internet Connected Computer. To Register for a Bitcoin trading account is FREE. There are no charges levied on you or will ever be levied on you to Register for a Bitcoin trading account. Register for a FREE Bitcoin trading account now.
- Once you have opened a Bitcoin trading account, the only remaining steps are learning how to Buy and Sell Bitcoin.
- Learn how to Buy Bitcoin with MPesa in Kenya from this post here
- Learn how to Sell Bitcoin in Kenya by studying for FREE from lhis article here, How to Withdraw Bitcoin to MPesa.
- Once you have learned how to Buy and Sell Bitcoins, now concentrate on doing as many trades as you can while learning about best practices of conducting Bitcoin trades so that you specialize in offering exemplary services to those you trade with. Only that way will people start giving you high ratings and you will soon stand tall as the best Bitcoin trading partner so that every time people want to Buy and Sell Bitcoin, they consider you first.
Hey! That’s just about it! Many apologies for the long post.
Wishing you all the best as you go about trading Bitcoin in Kenya as your preferred Passive Income business venture.
Should you have anything that you feel would help other people considering the idea of Buying and Selling Bitcoin in Kenya as their primary source of Passive Income, feel free to let us know about it so that we can update this post.
You can drop us an e-mail here below any time you feel like!
Happy Bitcoin Trading !