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The Bitcoin Economy in Kenya

A bitcoin economy.

The digital currency bitcoin has made headlines throughout the year as the value of one bitcoin increased from $1,000 by over 1,300 percent to reach a level of over $14,000 in early December.

Despite bitcoin not being considered legal tender in Kenya, Kenyans are legally allowed to buy and hold bitcoin as an investment as well as send and receive the digital currency at their own risk. This has created a local bitcoin economy in Kenya that includes startups, regular meetups, conferences, exchanges, and even bitcoin biasharas.

Investing in Bitcoin is Creating New Wealth

Buying bitcoin in Kenya as an investment is becoming increasingly popular, especially among tech-savvy millennials. There are currently several WhatsApp and Telegram groups where individuals can buy and sell bitcoin using MPESA or other payment methods and a new bitcoin exchange, called Belfrics Kenya, has recently opened its doors in the country to allow Kenyans to buy bitcoin in an easy and trusted manner.

Given the steep increase of the price of bitcoin as well as other popular cryptocurrencies such as ether, litecoin and ripple, those who have been involved in the cryptocurrency investment space have managed to create new wealth for themselves over the course of the last few years and has inspired more people to start investing in this new digital asset class.

The Bitcoin Economy is Creating New Jobs

Perhaps even more impactful than benefiting from the increase in value of bitcoin is to benefit from the growing demand in the bitcoin job space. And that is exactly what many Kenyans are starting to do.

Currently, you can find several freelance writers, social media marketers, copywriters, and software developers in Kenya who are working in the global bitcoin economy and that number is on the rise.

There are numerous online bitcoin jobs platforms where individuals can find remote work as well as freelance contracts for a wide range of different disciplines and have their salary paid in bitcoin. Getting paid in bitcoin is fast and easy and does not require you to set up a PayPal account or go through any lengthy verification process, which is why is becoming an increasingly preferred method of payment among freelancers globally.

To get started, all you need to do is download a bitcoin wallet on your desktop or smartphone and you are ready to receive bitcoin payments.

If you are working on cryptocurrency solutions and are looking for a professional yet affordable workplace, have a look at out our membership plans at The Mint Hub or come by and check the space out for yourself.

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