how do these people on paxful and local bitcoins make money… I mean the buying and selling rate is still the same… the margins must be so low
You invest alot
let’s say bitcoin rate is 1 = 4,000,000 and you buy whatever amount and still si utauza the same or the same rate
No … si graph inapanda ikishuka … like me I bought ikiwa 1btc = ksh 3 Million … ikafika 7M nikatoa na nlikua nmeinvest around 60K … do the maths.
At this exact moment iko ivi … I had checked 30 minutes ago ilkua 4.9M
[ATTACH=full]434125[/ATTACH][ATTACH=full]434125[/ATTACH]
walinunua 2015 ukiwa umesubaa suba suba
Walinunua ikiwa 1500 bob.
Margins are low, but they do big volume - lets say you can capture 1%, and your daily volume is a 1,000,000. That 1% translates to 10k per day. some days more, some days less. That’s what I see on the surface, but probably other ways they are earning in the background.
If you have cryptocurrency,hold because when Fiat currencies implode,cash will make its’ way to cryptos and commodities.Now, when the dust settles and whatever new monetary system is implemented,you can then sell,if you want.
Remember to factor in their expenses. They are buying these coins from somewhere. That means probably their profit margins are 25-30%. So it’s only 3k a day profit.
It’s a good question about how people make money on platforms like Paxful and Local Bitcoins. While the buying and selling rates may appear to be the same, there are often small margins that people can take advantage of to make a profit. For example, someone might buy Bitcoin at a slightly lower rate on one platform and then sell it at a slightly higher rate on another platform, making a small profit.
Local bitcoin and Paxful zilifungwa
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