Technology

Three ways you can make money with digital currency

Bitcoins. FILE PHOTO | NMG
Bitcoins. FILE PHOTO | NMG 

Cryptocurrencies have received quite a bit of media coverage this year from jaw dropping heists at various exchanges to the bipolar behaviour of markets that saw the value of publicly traded cryptocurrencies hit $ 180 billion 35 weeks into 2017, even as one of the better known currencies – Bitcoin touched $ 5,000; many a fortune made and lost.

Locally our dalliance with cryptocurrencies has been marred by Central Bank issued public memos and court cases pitting mobile money operators, payment gateways and local value exchanges.

Many have been asking how to get on this train, largely driven by the fear of missing out, and online lie many pundits and platforms that claim to be the best path to riches. There are three primary ways to make money with cryptocurrencies each with its pro’s and cons.

Mining