5 Reasons Why Kenyans Love Bitcoin?

Bitcoin was the first decentralized digital currency that came in to force as crypto-currency in 2008 and, implemented a year later as open-source software, without a single administrator or central bank as launched by a group of peoples. In a Blockchain, all data is recorded and, cryptography verifies each transaction.

Did you know, why kenyans love bitcoin? Here are the 5 quick reason

  1. Mpesa is consecutively helping the country to increase the GDP. Currently, it’s helping by up to 40%.
  2. Mpesa is available globally to allow quick transfer to anyone.
  3. More than 20 million people in Kenya are using M-Pesa.
  4. It has several quick transferring options from one channel to another.
  5. Over the years, M-Pesa has built over 90,000 agents in Kenya.

Steps To Convert BTC IntoMpesa

M-Pesa is online operated phone-based network which enables the user to transfer money, service in micro-financing and allows user to pay their payments. Fortunately, M-Pesa also allows user to Convert Bitcoin To Mpesa and transact their bitcoins present in wallet into desired currency with ease.

  • To sell and buy bitcoins entrepreneurs need a third party like LocalBitcoins. It is one of the best P2P networks where BTC can be easily converted just a few steps to follow. At first, the user needs to get a new account or existing users can log in simply. While signing up user will ask to fill up the required and essential information. After, filling up with the right details user can verify and simply log in.
  • After logging in the user will have to transfer their BTC into LocalBitcoins wallet. On transfer, the user can directly navigate to the menu and click on the ‘Quick Sell’ options to initiate conversion and enter the amount to sell. Then, enter the amount the user will have to select the Mpesa as the payment method which will take little time to perform the conversion and payment.

During the conversion, the third party will show you multiple offers to grab. The display will allow users to see the timing for completion in different colors such as green for a quick response.

  • On successful completion of the response time, click on sell to view more information regarding it before starting the transactions. Once you successfully find a perfect buyer and sell the desired amount. It will initiate your trade request and wait for buyer payment. After that verify payment on the phone and click on ‘release bitcoins’. And, the payment is done.
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