Investing in digital currency is risky

Many Ugandans have lost their hard-earned money by investing and trading in cryptocurrencies. Cryptocurrencies, according to Bank of Uganda (BoU), are an Internet-based disruptive payment technology that is stored in a database called Blockchain.Cryptocurrencies, which are among the biggest disruptors in the financial sector, currently have no regulatory oversight because government does not recognise any cryptocurrency as legal tender. So in case of losses, investors would have no recourse. This technically means that if you use digital currencies to settle your transactions, you do it at you…

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