In Summary
  • The only way you can make sustainable profit from currencies is if you trade in them.
  • That is, buying and selling them continuously like they do in a foreign exchange bureau or a bank.

I have written this in the past: money has no value unless you can spend it. The value is in what you spend it on. For that reason, it is foolhardy to “invest” in money! It is no wonder that the wealthiest people in any society don’t normally have “fat bank accounts.”

They know the secret that money is worthless!

Many readers have asked me whether Bitcoin and other so-called “cryptocurrencies” are worthy investments.

The quick answer is NO! In fact, it is not a good idea to invest in any currency for that matter – not the dollar, not the euro, not the yen…none of them…not even our very own shilling! The only way you can make sustainable profit from currencies is if you trade in them.

That is, buying and selling them continuously like they do in a foreign exchange bureau or a bank.

Think of it as a kiosk or a shop when the goods on sale are not cabbages and such-like, but currencies of different kinds.

On one day, the currency trader might be buying dollars at Sh103 and selling them at Sh103.50 thereby making a profit of 50 cents from each dollar sold.

THE FOLLOWING DAY...

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