Presentation to unpack Cryptocurrency suited to the interested layman set for Saturday
Cryptocurrency coach and entrepreneur, Robert Gariseb will be hosting a presentation on understanding digital assets on 7 May from 14:00 to 18:00 in Pioneers Park. To participate one will need to fork out N$300 and place a booking on 081 443 5361.
Gariseb will be doing an introduction on crypto and digital currency, how to spot scammers, buying and holding cryptocurrency, smart investment strategies and the future of cryptocurrency.
Gariseb explained to the Namibia Economist that the main aim of the presentation is to inform and educate Namibians on the basics of cryptocurrency, including the types of different cryptocurrencies and what crypto can be used for.
“The presentation will look at what to consider before buying cryptocurrency, because there are many different types of cryptocurrencies out there, so it is certainly worth putting some thought into understanding which coins or tokens might be right for you,” added Gariseb.
He said that even if you are a seasoned crypto investor or looking to take your first steps in this exciting world, learning is a great way to reduce risk and make an informed decision about your money.
“Another objective is to share tips on how to ensure that you are making a safe investment, and how to easily spot a scam,” he added.
Gariseb said anyone interested in cryptocurrency, in general, is welcome to attend the presentation and anyone who wants to expand their knowledge on the subject.
“It is for those folks who want to learn how to make an extra income safely and wisely through strategic investment, and it is also for those who have been scammed and want to learn how to avoid falling prey to scam artists again,” explained Gariseb.
According to Gariseb, he took a keen interest in cryptocurrency when a former colleague introduced him to cryptocurrency trading in 2019, through a company called Mirror Trading International (MTI), which eventually turned out to be a pyramid scheme.
“After losing money within this venture, I took it upon myself to do in-depth research into what cryptocurrency is all about. I felt there was so much more to what we were being exposed to in Namibia, which was mostly trading with Bitcoin, through so-called briefcase companies and I was right because there are currently almost 20 thousand cryptocurrencies worldwide,” explained Gariseb.
Further explaining his background in cryptocurrency Gariseb said he is knowledgeable in cryptocurrency because of the number of years he has invested in doing research on cryptos, falling prey to scammers when he started due to lack of knowledge and just grabbing every opportunity he could get to educate himself on the subject.
“It is such a huge industry, and it is still very new, especially to us, but it is growing at a very fast rate, therefore, not a day goes by that I do not spend time reading up on new projects,” he added.
Explaining how to identify a scammer, Gariseb added that the number one way to identify a scammer is when they make guaranteed promises of high returns on investments in a very short time because it is important to note first-hand that any investment takes time to mature. “A lot of people are not well versed on the topic of cryptocurrency and there is an overriding misconception that you can get rich quick in a matter of a few days once you invest,” he emphasised.
On his own experience of trading in cryptocurrency, Gariseb said he has invested in cryptocurrency and he is an ardent long term investor and does not indulge in day trading. And for the future of cryptocurrency.
He said because it is still in its infancy at only 12 years and even less in Africa, it is very difficult to gauge what the future of digital assets is.
“It is very difficult to overlook the fact that we are standing on the brink of a technological revolution that will fundamentally alter the way we live, work and relate to one another. It is already happening, everything is digitalised,” he added.
He said the Fourth Industrial Revolution, or digital revolution, has already begun and it is here to stay, because countries are already adopting cryptocurrency as a form of payment and even a main currency, it would be naive not to equip ourselves with what could very well be inevitable.
A cryptocurrency is a form of currency that exists digitally or virtually and uses cryptography to secure transactions. It does not have a central issuing or regulating authority, instead, it uses a decentralized system to record transactions and issue new units via blockchains cryptocurrency is a peer to peer, paperless, digital asset, secured by cryptography and impossible to counterfeit or double-spend.