Uganda says cryptocurrency is risky

[leea-1334]

All things in the world have their own risks as well as cryptocurrency. Can you mention something in life that has no risk? But behind the risks that are, of course, there is the potential to gain benefits, lessons, or experiences that are useful in our lives. What is important is how we manage these risks so that they can be as minimal as possible.
Need to remember "No Risk, No Gain"

Also need to remember many other things,,, always risk what you can afford to lose being the most important, because what people never realize is this,,, you have the possibility to lose it all and you CAN lose it all. Many people have. We all here the people who successfully profit more than those who lose it all partly because success is more easily spread and partly because losers are too ashamed to tell people.

Anyway,,, Uganda should worry about other risky things like fraud and hyperinflation.

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[Johnzky]

Central bank of Uganda refuses to implement crypto because "it's risky"
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky

Is this your first time here in crypto?for how many countries that we saw this same accusation of government?that cryptocurrency is very risky but hey don’t mentioned ho profitable is this,they are just looking on single side while the truth is there are other areas in which the positive effect of crypto is not being mentioned

All things in the world have their own risks as well as cryptocurrency. Can you mention something in life that has no risk? But behind the risks that are, of course, there is the potential to gain benefits, lessons, or experiences that are useful in our lives. What is important is how we manage these risks so that they can be as minimal as possible.
Need to remember "No Risk, No Gain"

Exactly mate,if you wanna gain then you must be ready also for the risk part

[EdenHazard]

There is no government who says cryptocurrencies are safe place to be use as investment place or be used another function such as payment system, this was happened to my country before they decide to regulate it.

But now, my country has been regulating bitcoin/cryptocurrencies as commodity where the citizen can be used it as trading place or investment only.

Previously, they ban cryptocurrency with the same reason as Uganda now, but they know the profit will be gained if cryptocurrencies prices moving up so as they decide to re-regulate with one note the risk that will be faced be certified by the user itself, they only ask to pay taxes to all users.

[ash.y]

All things in the world have their own risks as well as cryptocurrency. Can you mention something in life that has no risk? But behind the risks that are, of course, there is the potential to gain benefits, lessons, or experiences that are useful in our lives. What is important is how we manage these risks so that they can be as minimal as possible.
Need to remember "No Risk, No Gain"

I totally agree that without risk the life seems so predictable and boring. I feel more alive when I take risks, makes my heart beats faster. Also not to be afraid of failures as it is part of excitement and it helps to draw a constructive analysis where next time one can mitigate the risk element.

[CBANX Ltd.]

Every new innovation has Risk as Cryptocurrency and its background history is revolutionary. Until and unless we won't make our system that much strong we can't chase the strong potential alternative to the traditional currency.

[jake zyrus]

Investing are really risky. Engaging in cryptocurrency, there's always risk that's why you have to be risk-taker in order to gain something.
And when they "refuse to implement crypto" just because of this, they're just afraid. They're just using 'risky' as an excuse

[blameme]

Oh Uganda!

[veleten]

I'd say living in Uganda is way riskier than bitcoin could ever be  
when a country cannot or doesn't want to regulate the crypto properly they start to say general trite things like bitcoin is risky , cryptocurrencies are a grey area etc.
instead of sitting down and setting the rules up , they either ban it or turn their blind eye , like it doesn't exist
Uganda has bigger problem than cryptocurrencies regulation , I admit , but it would not hurt to at least show their stance towards either adopting it or banning it instead of pointless statements

[royalfestus]

Every government does this, uganda is no exception and I dont see anything restricting the countrymen with news read. Seriously, we need to educate newbies of some intricacies of the space. It is not misleading but protective, it is global space with diversities in purpose. some with the purpose to build and some to destroy. Government giving idea of what new investors are getting into isn't bad at all. Facebook, twitter and the rest did some control in their sphere. This should prompt them to get educated before to get victims of scam

[eaLiTy]

it's unbelievable that he  says "cryptocurrency is risky" when his country's politicians are corrupt

It is a recurring story with all the countries that are corrupted to the core to say that cryptocurrency is risky and they will not implement and they will say that it is too risky to allow people to invest in it, these corrupt governments imply that they are protecting the people from the risk. We must understand that it is not the issue with these people, if people start using the platform and everything becomes transparent then how these corrupt officials will hide their loot, they can resist for a while saying that it is risky but blockchain and cryptocurrency will prevail in the long run.

[alexmcquee734]

Central bank of Uganda refuses to implement crypto because "it's risky"
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky

The deputy governor of the Bank of Uganda has warned the public about the limited protections offered them when they invest in unregulated cryptocurrencies.

[Alert31]

Of course Central Bank of Uganda said that cryptocurrency is risky because crypto is their rivalry in terms of people investment. People would choose Crypto over bank even crypto is not legal because crypto has a higher interest rate than a bank. One thing more crypto is non regulated,with out many documents needed before you can invest.

[Getmon]

Central bank of Uganda refuses to implement crypto because "it's risky"
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky

Central banks are riskier. They are oftentimes failing their own people while fattening up their own pockets. Governments are riskier also. They are granted the responsibility to lead and ensure the welfare of the people and yet they always end up falling short. Crypto is made up of people freely dispensing their properties. That does not happen with fiat. Uganda needs to step up.

[airdropan]

actually i agree with what they said about cryptocurrency "  online cryptocurrency businesses are not regulated at the moment and therefore carry a significant risk of loss of savings, with no recourse to protection or insurance by government "
its not something new if goverment say if cryptocurrency is risky, the fact is crypto risk there is no protection to our investment there.

[veleten]

Of course Central Bank of Uganda said that cryptocurrency is risky because crypto is their rivalry in terms of people investment. People would choose Crypto over bank even crypto is not legal because crypto has a higher interest rate than a bank. One thing more crypto is non regulated,with out many documents needed before you can invest.

Central bank is advertising bitcoin and doing a decent job
they are definitely against anything that could ever challenge the Central banks network around the globe
especially something that is decentralized and has a deflationary mechanism in it , like bitcoin
it is much easier to print worthless paper and make sure common people's income is never growing despite the progress and all that jazz
I hope Uganda makes the right choice and despite the CB warnings it adopts a more relaxed stance towards cryptocurrencies

[creeps]

Central bank of Uganda refuses to implement crypto because "it's risky"
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky

Uganda’s Central Bank is right, cryptocurrency is too risky we can’t just disagree on this one because its true and that is why we have to educate more people for them to understand the risk. Its better for Uganda’s Central Bank to educate their people, to encourage the local banks to adopt and by this the risk can be lessen because more people will understand cryptos.

[elisabetheva]

The dilemma in almost all developing countries is that to be able to accept progress with digital technology especially especially crypto, it is not as easy as one might imagine.
clearly there are still many obstacles, and with the growth of information the intensity will bring them more open. it takes time for crypto to be accepted and it is understood that risk is almost the same as investment.

[arpon11]

Central bank of Uganda refuses to implement crypto because "it's risky"
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky

ugabda should develop their own coin and built it on the blockchain if they think that bitcoin is too risky to be adopted into their economic? The infect of USA dollars on most of Africa's currencies is too high and it will be very difficult for some of this country to develop. To me, Bitcoin is too volatile to be used as country money and if Uganda does that it will create serious problems in the country but on a long run, they should develop their own coins just as companies like Facebook are planning.

[poodle63]

Central bank of Uganda refuses to implement crypto because "it's risky"
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky

ugabda should develop their own coin and built it on the blockchain if they think that bitcoin is too risky to be adopted into their economic? The infect of USA dollars on most of Africa's currencies is too high and it will be very difficult for some of this country to develop. To me, Bitcoin is too volatile to be used as country money and if Uganda does that it will create serious problems in the country but on a long run, they should develop their own coins just as companies like Facebook are planning.

They could just make another stablecoin with their own currency or backed up by something else valuable if they want, but what is the point? in Uganda internet is not available everywhere, I don't live there so I don't know but Uganda is not a developed country so that is to be expected, digital currencies there will just available for certain people and not for the masses.

[royalfestus]

Central bank of Uganda refuses to implement crypto because "it's risky"
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky

Central banks are riskier. They are oftentimes failing their own people while fattening up their own pockets. Governments are riskier also. They are granted the responsibility to lead and ensure the welfare of the people and yet they always end up falling short. Crypto is made up of people freely dispensing their properties. That does not happen with fiat. Uganda needs to step up.

Who knows if they are investing and confusing the public? However, no one is advised to break the law if there is one against crypto abide by it, cause you will be disappoint that everyone is for himself here.