Are you looking to buy Bitcoin in Kenya (or other cryptocurrencies)? Then have a look at this article. In the following table, you will find a comparison of the best sites to invest in Bitcoin in Kenya.
If you want to know more about how to purchase Bitcoin in Kenya, have a look at my guide on how to buy Bitcoin in Africa.
In Kenya, there are many ways to buy and trade Bitcoins. With Binance you can exchange or convert your bitcoin in Kenya for any payment method in a fast, convenient, and safe manner. Buying and selling bitcoin with Kenyan Shillings (KES), as well as cryptocurrency, blockchain, and other non-valuable crypto buzzwords will continue to expand in Kenya. Most bitcoin investors are aware of the difficulties associated with banking in Africa, North America, South America, Antarctica, Asia, Europe, and Oceania. In Kenya and other countries, the number of choices for buying and selling bitcoins is growing, ensuring that everyone has access to the decentralized cryptocurrency.
Kenya could buy BTC
The shilling, Kenya’s official currency, has been losing value for decades. Since 2010, it has lost over half of its value against the dollar. The Shilling lost over 10% of its value against the US dollar just last year. Apart from the obvious effects of the coronavirus outbreak, central bank governor Patrick Njoroge has blamed the International Monetary Fund (IMF) for the shilling’s depreciation.
As Bitcoin’s price rises, Patrick Njoroge believes it will safeguard Kenya from currency losses and reduce the country’s national debt.
In Kenya, a cryptocurrency helps citizens cope
The Covid-19 crisis has hit the developing economies of Africa hard, which must turn to new solutions. In Kenya, a crypto-currency is thus used at the local level to bring aid to the inhabitants.
THE NEAR FOUNDATION WANTS TO TRAIN IN BLOCKCHAIN
NEAR, a Swiss non-profit organization has announced a partnership with the Sankore organization to build the “Kenya Regional Hub.” A team of four persons makes up this hub. Their goal is to host events, start an academy, and build a blockchain-focused incubator.
In the long run, this endeavor should also allow for the development of talent. They will be able to participate in the development of blockchain projects in Africa as a result of this. Kenyans turned out in large numbers for the first meetings arranged by NEAR and the Sankore organization.
African blockchain projects are already supported by the Sankore group. The “Kilimo Shwari” project is a good example of this. This insurance program uses blockchain technology. It aids farmers in the face of natural disasters.
The fight against false documents in Africa is the focus of another NEAR-funded project. The NEAR protocol is used to verify papers in this project called ” Ledja.”
According to the Blockchain Association of Kenya, the total number of bitcoin transactions in Kenya is projected to be over USD 1.5 million. Can the technology, however, actually take off?
Bitcoin, Dash, and Litecoin are the most popular cryptocurrencies in Botswana, Ghana, Kenya, Nigeria, South Africa, and Zimbabwe right now. In Kenya, start-ups and big conglomerates are using blockchain technology to solve challenges, such as an IBM platform that lets small firms establish their creditworthiness for financing.