1. He is with us at BlockNewsAfrica as our Chief Editor. We at BlockNewsAfrica, use Exodus and Trust wallet for Android and iOS. That means that you need Kenyan shillings to pay rent, pay your electricity bill, buy food, and pay for your car’s fuel. Bitcoin is digital money, it is money just like the Kenyan Shilling, but instead of a paper and coin-based form of currency, Bitcoin is virtual. The Blockchain Association of Kenya (BAK) explained in an interview that digital currency awareness has increased and that Kenyans are using bitcoin and other digital assets to pay for education and to purchase products. Binance, the world’s leading cryptocurrency exchange, is running a free webinar to educate Kenyan users on the opportunities in peer-to-peer (P2P) bitcoin trading.. All transactions are stored in a common ledger. The webinar will help attendees learn how to basically become their own bitcoin businesses on the Binance P2P platform. The minimum amount you can buy is set by the platform you are using. This Caution and Alert about Bitcoins in Kenya acts as Guidelines to Help you Safely navigate the Bitcoins and Crypto Currency terrain in Kenya. Remember that the Kenya Shilling and other traditional or fiat money around the world are regulated and controlled by governments and banks. You can buy and sell it anywhere in the world without using middlemen such as banks. Most of the people online are unaware of bitcoin faucets. BitPesa was launched in 2013 with the aim to provide individuals and business with the opportunity to make low-cost international money transfers to and from Sub-Saharan Africa by leveraging the cryptocurrency bitcoin. Help other people in Kenya get Bitcoin and you can earn BIG profits up to 60% on each sale. The rewards for Bitcoin mining are halved every four years. You may lose your money if you jump into it emotionally with little information. SWIFT bank deposits are free and withdrawals incur a 0.3% + $25 fee. If you are in Kenya, there are several ways to buy bitcoin, such as through crypto exchanges, ATMs, and peer-to-peer (P2P) marketplaces. In most cases, creating a Bitcoin wallet is free. Since you are the one giving payment instructions, you must be careful not to give incorrect details. This works like a normal business, where you buy at one price, add a markup, and sell at a higher price. Once verification is done, you are set to go. By buying at the marketplace, usually referred to as peer-to-peer (P2P) marketplace. (Most options sell way above market price). Fortunately, MPESA allows users to carry out all these transactions and more with ease. It was launched in 2013. The vendor sets the limits, for instance, KES 1,100-1,550 implies that the lowest amount the vendor can accept is Kenya shillings 1,100 up to a maximum limit of KES 1,550. Your email address will not be published. Do not put all your eggs in one basket. People are now well familiar with the benefits and services cryptocurrency provides to its traders. Getting started with bitcoin in Kenya is not as difficult as it may seem. To send or receive money from a person outside the country, you will need to use a financial service such as PayPal or Western Union. You can always refer to our content policy. On receipt of funds, the seller releases Bitcoins. Never accept to deal outside the platform, as this may be fraudulent. There are different ways to go about it including the method that will be discussed in this article which is Mining Bitcoin on Android devices. In Kenya especially, it is the most dominant crypto used by far and just like any other currency, one needs to identify a safe secure and easily accessible wallets to store their bitcoins. What You Need the Following to Get Started to Trade in Bitcoin in Kenya Funds. Do you have any questions about bitcoin in Kenya? You only need to provide a unique number, which is your Bitcoin account number. That is why the funds are held in escrow the moment you initiate a trade. With the Yellow Card app, you can store, send, and receive bitcoin and other digital assets. Continue reading Do not Buy Bitcoin in Kenya until you Read these Safety Precautions Tips. There is also a moderator available. The same reference number can be used to earn when referring friends and family. This site is free to use. By checking this, you agree to our Privacy Policy. I started Omoka Kenya to reveal brilliant ways to make more money, invest, save, and start profitable businesses in Kenya. Cryptocurrency and blockchain news by Africa for Africans: We provide the latest news, updates, and developments from the African continent. The final site on our list is a relatively new platform for users in Kenya. Disclaimer: Information like articles, reviews, and tutorials found on BlockNewsAfrica is not investment advice. We all know the number of ways we can use this trillion-dollar crypto but very few of us know how to obtain bitcoin. You will find several offers under the above parameters. It is intangible meaning you cannot withdraw it and use it in a physical form like you would do with the Kenyan notes or shillings. Yes, you can buy bitcoin with MPESA in Kenya using Paxful or LocalCryptos. If you don’t have a bitcoin wallet, follow the steps outlined below to create one. If you have a dispute, click on ‘report’ and the moderator will come online. Remember you cannot withdraw just like money in a bank. The Central Bank of Kenya governor, Patrick Njoroge has warned that bitcoins might be another pyramid scheme that is in the future likely to leave many Kenyans in losses. The agenda is to educate you on what’s really going on with bitcoin in Kenya. By the way, if you still had second thoughts and doubts about the credibility and legitimacy of Bitcoins… Elisha has been spreading cryptocurrency since 2016 and is working to bring in more adoption and people from Africa. With over three million users, CEX.IO is the simplest and most popular exchange for citizens in Kenya to buy cryptocurrencies. There are many wallets available on the internet but Kenyans are worried about those that can work for them perfectly, considering their location. While selling your coins on these platforms, select MPESA as the payment method. You can buy Bitcoin in Kenya using payment methods such as PayPal, and bank transfers. To get started, you need to exchange cash for Bitcoins. Operating a Bitcoin Reserve. The Blockchain Association of Kenya is educating Kenyans on the opportunities and implications of cryptocurrencies like Bitcoin. You can buy bitcoin in Kenya on Paxful with or without a bank account. Top platforms to buy bitcoin in Kenya include Paxful, Binance, and LocalBitcoins. The digital asset is not regulated by any centralized financial regulators in Kenya such as the Central Bank of Kenya. You cannot talk about Bitcoin in Kenya without mentioning Kenya’s bitcoin startup poster child BitPesa. Bitcoin trading SEE ALSO: Bitcoin Wallets with Atleast 0.1 BTC Hit the 3 Million Milestone as the 2020 Bitcoin Halving Gets Closer. Cryptos such as bitcoin is gaining more and more attention in mainstream media, and many Kenyans are looking for ways to make money with bitcoin. Ask them to also do the same. Buy Bitcoin instantly in Kenya Paxful is one of the best ways to get your hands on BTC. You can use Binance to exchange bitcoin to several other cryptocurrencies.. You will have to create an account on Binance, send your bitcoin to the platform, and use the exchange to sell your bitcoin for ethereum. To encourage more take up, … Finally, open a trade with any trader of your choice and complete the trade to get your bitcoin. Select your preferred currency and payment mode. Before spending money to Buy Crypto… Once you settle on a particular seller, click on the ‘Buy’ Bitcoin window. Published January 6, 2021. All you need is to create a bitcoin account online as illustrated below, look for GENUINE Kenyan Bitcoin sellers, purchase your bitcoin using mpesa wallet and receive them in your app account. Store your Bitcoin with reliable, trustworthy, and secure wallets which are well-known to prevent loss of money. Sort through the list of sellers based on your preferred currency and payment option. In recent years Kenya has displayed a steady trend of cryptocurrency acceptance and rising trade volumes within the country. Though bitcoins are not physical they have very high value, let say 1 Bitcoin = +/- Ksh 376121.16 and can be converted into local currencies. You may want to ask, how on earth can I identify an online scammer? Localbitcoins transaction volumes have always been high and it seems to be the dominant company. On 10th of December Sunday afternoon at Enkare Hotel, we are bringing together the Kenyan cryptocurrency pioneers for a Bitcoin Baraza. But transactions are faster than bank transfers. Once the world starts to transact in Bitcoin globally, the payment network aspect of it will continue to grow and people will start getting paid in cryptoassets by their employer or company. 11 Profit-Making Businesses to Start with 10K in Kenya [2021 Guide], How to Start a Successful Salon Business in Kenya [2021 Guide], 10 Profitable Businesses You Can Start with 5K in Kenya [2021 Guide], 10 Profitable Businesses to Start with 100K in Kenya [2021 Guide], 11 Brilliant Businesses to Start With 20K in Kenya, Top 10 Best Credit Cards in Kenya for 2021 [From Reputable Banks], How to Start a Smokies and Boiled Eggs Business in Kenya [2021 Guide], How to Start a Highly Profitable Mitumba Business in Kenya [2021 Guide], 15 Lucrative Businesses to Start With 50K in Kenya [2021 Guide], as a store for value to keep your bitcoins for fut, When you are paid Bitcoins for goods or services offered. At the time of writing, one Bitcoin costs about 6,257,671.62 Kenya Shillings. Kenya is a hotspot for bitcoin in Africa. Before you fully immerse yourself in this trade, exercise the following caution; How much does it cost to invest in Bitcoin in Kenya? One’s profile also indicates average trade time. © 2020 BlockNewsAfrica - Your ultimate African cryptocurrency companion. Since Bitcoin has become a big business, majority of the coins are mined by just a few individuals/company, who have huge data centers with insane amounts of computing power, and millions of dollars in electricity bills. You can read our Best Bitcoin Wallets article for an in-depth review of wallet options. Study market trends carefully. Bitcoin exchange rate with Kenya Shillings, see current rate. Exchange platforms. Best Place To Buy Bitcoin In Kenya. Up for a win in #TimeForPlanB $100 each to 30 people who: bitcoins can be stored only in computers, servers etc. And not just in Kenya so you can expect the prices to keep rising. Using Bitcoins to make payments in Kenya may not have very many use cases as of right now though this is going to change very soon as Bitcoin holders will soon discover in a few days to come. Binance recently announced support for users in Kenya to purchase bitcoin with their local currency. Best Place To Buy Bitcoin In Kenya. Brokers in various fields are seen as a blessing and/or a curse but the bottom line is … LocalCryptos is a peer-to-peer platform, just like Paxful. However, due to the volatility issue we mentioned above, this number keeps changing. Log in to your account and click on the ‘Buy’ button or a variation of it. You can use sites that pay you for completing tasks; you can mine or find a job that pays in bitcoin. Cointiply gives you tasks … Not available in all countries (Kenya is supported). You have two options when considering where to buy or sell bitcoin for Kenya shillings. How to Exchange Bitcoin To Ethereum in Kenya. Among all other ways, Bitcoin mining is the most common and widely used way to earn bitcoin. Before settling on a particular platform provider, check all the details including feedback and reviews. Aside from bitcoin, you can trade hundreds of other cryptocurrencies on Binance. People have been buying bitcoin on this platform since 2015. Is it allowed to use Bitcoin Margin Brokers in Kenya? Buying Bitcoins in Kenya… According to the Blockchain Association of Kenya, there are many things that Kenyans can use Bitcoin for, be it to pay traders in China for goods, or enable Nigerians to send their children to school in Kenya, or simply pay young African freelancers to work online. Elisha has contributed to other cryptocurrency and financial sites including bitcoingarden.org, bitcoinafrica.io, financemagnets.com and many more. Exchange platforms make it easier and faster to sell Bitcoin, but the exchange rate is usually higher than on the exchanges. Always double-check payment details to avoid sending money to the wrong recipients. This is a great way for those who want to invest in Bitcoin for long-term storage. “Each bitcoin (BTC) is divisible to the 8th decimal place, so each BTC can be split into 100,000,000 units. The internet is abuzz with literature on the different ways you can benefit from Bitcoin investment. Most coin exchanges online do not accept Kenyans, and the ones that do, require too much verification that does not even work in a Kenyan setting. To buy bitcoin on Paxful, follow the steps below. You can obtain this wallet through a Bitcoin platform or exchange which facilitates the buying and selling of Bitcoins. Yet the price of Bitcoin changes fast. In order to make more profits from the sale , you need to look for a buyer offering high margins. To buy bitcoin in Kenya on LocalCryptos, you have to sign up to create an account. Buying bitcoins in Kenya is not easy, there aren’t many services that cater to Kenyans. Bitcoin investment in Kenya is gaining momentum as many Kenyans now embrace digital currency. Yellow Card is one of such apps in Kenya. There are several ways to earn bitcoin in Kenya. The best offers in terms of pricing normally top the list whilst the most expensive offers appear at the bottom. Buy Bitcoin In Kenya We found 9 exchanges in Kenya. Most Popular Bitcoin Exchanges in Kenya. Do not allow anyone to manage your account. You can purchase your first bitcoin with any payment method like MPESA, bank transfer, and credit card. This video covers all the steps before investing in bitcoin. Enter the amount you want to buy in Kenyan shilling, and you will see how much bitcoin you will receive and the conversion rate. You should check that before using it. The total number of Bitcoin transactions in Kenya are estimated to be worth over $1.5m, according to the Blockchain Association of Kenya. There are several ways to earn bitcoin in Kenya. Similarly, a link is emailed to your address. This means that if you lose your Bitcoin, you may never get it back since you can’t report it anywhere. In the beginning, CEX.IO was a Bitcoin mining pool but it has since transitioned to the exchange model. You might be wondering what if there is a dispute. Since the beginning of 2017, the price of bitcoin has surged to new all-time highs after rallying by over 350 percent. The following are the steps you should take to begin your Bitcoin investment journey in Kenya ; Whether you want to trade, store, or invest in Bitcoins, you need a Bitcoin wallet. How to Buy Bitcoins In Kenya Click the “Buy BTC” button to complete your order. Popular trading platforms in the country include Localbitcoins, Paxful, Remitano, Bitpesa, Belfrics, and Coindirect. Here are two ways to trade Bitcoin in Kenya: Operating a Bitcoin Reserve. To Operate a Bitcoin Reserve in Kenya: To make the process a success you only need two things. I'm Nathans. There are over three hundred payment modes available. As such, you have to sell at the marketplace. How to buy Bitcoin in Kenya Recently, LocalCryptos added 4 African payment methods: Chipper Cash, Airtel Money, MTN Mobile Money, and EcoCash as payment methods. Now that you have an account and your very own wallet, the next step is to buy some Bitcoins. If you already own bitcoin, you can exchange the bitcoin for ethereum. Bitcoin miners get paid in Bitcoin as a reward for verifying Bitcoin transactions in the Blockchain. You don’t need a lot of money to buy a Bitcoin. You will have to create an account on Binance, send your bitcoin to the platform, and use the exchange to sell your bitcoin for ethereum. By creating your own offer complete with your own instructions and price margins, By looking for a buyer at the P2P marketplace such as LocalBitcoins. The ATM is located in Nairobi, the capital city of Kenya. The Central Bank of Kenya governor, Patrick Njoroge has warned that bitcoins might be another pyramid scheme that is in the future likely to leave many Kenyans in losses. How Do I Withdraw Bitcoin To MPESA? Let’s look at several ways to buy bitcoin in Kenya using credit cards, bank transfers, electronic payment systems and other methods. These sites pay you small fractions of bitcoin (satoshis) for completing various tasks like filling out surveys, sharing on social media, and testing applications. In november 2019, you would earn 12.5 bitcoin for completing a block the bitcoin reward that miners receive is an incentive which motivates people to assist in the primary purpose of mining: Right now 1 bitcoin in kenya is almost equivalent to 1.2 million kenyan shillings. However, her payments in Bitcoin have been modest - about 30,000 Kenyan shillings (£230, $300) in sales from about 20 people. Before getting started, an important disclosure. For example, one Bitcoin was valued at Kenya shillings (KES) 1.4 million on 25th October 2020. The two illustrate the predicament of Kenyans who were lured into the world of cryptocurrency by Rocha and his agents at Velox 10 Global, a little-known company that claimed to trade in bitcoins. A bitcoin wallet (Register Here).And an Olymp Trade account. The verification process on CEX.IO is quite extensive which makes it one of the most secure exchanges on the planet. We may earn a commission if you purchase bitcoin from some of the exchanges listed. Create account and start selling It is neither a physical coin or a paper and it is held electronically i.e. Here, you buy Bitcoin at low costs, store them in Bitcoin wallets and then sell them at higher prices when their prices rise. Upwork . To buy bitcoin on Paxful, follow the steps below. The trick is in the number of successful trades and positive feedback. Buying Bitcoin is free, but you pay commission to the platform provider for every sale you make. Money Making Tips and Personal Finace Advice. In November 2019, you would earn 12.5 Bitcoin for completing a block Blockchain technology is very complicated so we will not dwell too much on the technicality. You are encouraged to do your own research (DYOR) before making any important decisions. Kenya is well known as one of the countries that has been trading high volumes of the cryptocurrency (crypto) Bitcoin in Africa.During the 2017 crypto hyper wave, crypto, specifically Bitcoin, was the talk of town. You should begin by setting up a profile and select your categories, either content writing, translation, proofreading jobs, content research, social media advertising, and so much more. After, you are required to verify your account with your email and phone number. LocalCryptos more than 40 payment methods, including MPESA. Traders are busy dealing with several offers. From Kenya you can purchase Bitcoin from many cryptocurrency marketplace. You can withdraw bitcoin to MPESA by selling your bitcoin on Paxful and LocalCryptos. This works like a normal business, where you buy at one price, add a markup, and sell at a higher price. The company claims to have over 800,000 active users across the world. We all know the number of ways we can use this trillion-dollar crypto but very few of us know how to obtain bitcoin. However, Bitcoin can be send instantly and directly to an individual without using third-party services like Western Union. Also, you should back up your wallet to save your funds in case you lose your gadget. Several micro-task platforms allow you to earn bitcoin. The easiest way to earn bitcoin for free in Africa or any part of the world is via micro-task platforms. Answered in 2020, Interested In The Evolution of Finance? You can use Binance to exchange bitcoin to several other cryptocurrencies. Binance is a major cryptocurrency company with several projects in the space, beyond an exchange. Apart from the 10 bitcoin exchanges described above, you can also buy bitcoins from the Bitcoin ATM located at the Kenrail Towers in Nairobi. Bitcoin exchange rate with Kenya Shillings, see current rate. These include Paxful, CEX 10, Coinmama, Local Bitcoins, eToro, Binance, Coinbase, among others. In this video, I share with you how to invest in bitcoin, how to invest in bitcoin in Kenya, how to invest in bitcoin for beginners, how to invest in bitcoin in Kenya for beginners, how to invest in bitcoin 2020 and how to invest in bitcoin and make money. It is important to build trust. Bitcoin and cryptocurrencies in general are not legal tender, they are not officially recognized as currencies or commodities, and therefore there is no regulation and no legal protection when people lose money at scams or hacked cryptocurrency … Enter name and email address to receive notifications. Paxful Buy Bitcoin in Kenya cheaply, enjoy zero transaction fees, and use over 300 ways to pay - including bank transfers, M-Pesa, Chipper Cash, and Paypal. How to make money from Bitcoin?This video expains in detail how to get started in making money through bitcoin. Read our Earn Bitcoin in Africa article to learn more. Whether you are buying or selling Bitcoins, bear in mind the following key points; We conclude by pointing out some important points to learn from the mistakes of others. Paxful gets 1000's of Bitcoin buyers from Kenya every day. You can then transfer funds from your bank card /mpesa to your bitcoin wallet then use the wallet to fund Olymp Trade.. If the word Bitcoin is new to you, I highly recommend you to read this article: Bitcoins In Kenya, How to Buy and Sell through Mpesa.. When the markets are low, buy, and when high then sell. A Satoshi is the smallest unit of Bitcoin.” To buy and sell full bitcoins or Satoshi if in Kenya I find the easiest way is to set up an account at Localbitcoins. Every time you log in to your account, the value of Bitcoins in Kenya shilling is displayed. Speed Of course, Bitcoin is inferior in terms speed to more modern cryptocurrencies and payment systems, such as Visa or Mastercard. Users can also deposit crypto and get a loan. However, in Kenya, there aren’t many of them around. Kenya serves as a major financial hub today because of the consistent successes of cryptocurrency -especially Bitcoin. Bitcoin is considered highly volatile in the sense that its value keeps fluctuating against traditional currencies. You will inconvenience your trade partner if that happens. The concept behind bitcoin is to have a new form of money that gives you absolute freedom—bitcoin is decentralized, permissionless, anonymous* and fast. P a s s i v e Every bitcoin ATM has its own set of rules, limits, instructions, and fees. A personal finance expert, internet entrepreneur, digital marketer, and freelance content writer. If you are based in Kenya and want […] Oftentimes you can get a standalone wallet for your bitcoin but you could also get started with crypto apps which make the process much simpler. Trade with purpose, not just for the sake of having active offers. No. According to a report in the Daily News Arena, the Central Bank of Kenya said it has decided to use Bitcoin as a reserve currency in order to solve the country’s economic problems.. After the Government of Nigeria also declared on Twitter yesterday that Bitcoin could soon replace the Naira, Patrick Njoroge, Governor of the Central Bank of Kenya also declared his support for Bitcoin. Never use brokers. We may receive compensation when you click certain products. This is where you exchange details of payment with the seller. In this video, I share with you how to invest in bitcoin, how to invest in bitcoin in Kenya, how to invest in bitcoin for beginners, how to invest in bitcoin in Kenya for beginners, how to invest in bitcoin 2020 and how to invest in bitcoin and make … Buying and selling Bitcoins in Kenya though Mpesa has never been this easy. The bitcoins are automatically sent to escrow to secure them until when the trade is completed or canceled. You may want to sell Bitcoins either to make a profit or just to liquidate them into cash. Required fields are marked *, How to Invest in Bitcoin in Kenya [Complete 2021 Guide], on How to Invest in Bitcoin in Kenya [Complete 2021 Guide]. Just like in gambling, invest only what you can afford to lose. Among all other ways, Bitcoin mining is the most common and widely used way to earn bitcoin. Below is an overview of Bitcoin’s performance in Kenya this year: There are several reasons why you might want to invest in Bitcoin. Bitcoins are public. Yes, appraise the seller. You can buy bitcoin in Kenya on Paxful with or without a bank account. The digital coin is traded and invested in on online platforms known as cryptocurrency exchanges. Mining Bitcoin On Android- Not all are aware that Mining Bitcoin on Android Devices is possible because most often use their PC to do so.Bitcoin mining is an essential endeavor for every person using bitcoin or having a bitcoin account. Such feedback is explicitly tagged to one’s profile. Kenya serves as a major financial hub today because of the consistent successes of cryptocurrency -especially Bitcoin. Here are the top exchanges to purchase bitcoin safely in Kenya, handpicked and updated by our team. Bitcoin has steadily risen in value since its inception in 2009. However, the value has risen by over 364% to reach 6.5 million. Strive to fully understand how Bitcoin trade works. In Kenya, you can buy the coins through the Blockchain Association of Kenya and digital assets online using brokers. Ask in the comments section below. This platform is properly licensed, making it safe for Kenyans to buy/sell bitcoin. As Bitcoin popularity continues to grow, there are several ways to earn from Bitcoin in Africa. Read our Bitcoin Explained To Newbies article to understand bitcoin further. For readers who want a quick overview of this article, this section covers the most important things to note when getting started with bitcoin. We will only be showing you how to invest in Bitcoin in Kenya without losing your money. Release Bitcoins immediately you receive payments and don’t forget to leave feedback to your trade partner. Upwork is the first site you should visit to make your dream of earning money online in Kenya come true.This is the top freelancing website trusted by millions of freelancers across the globe. However, on this platform, you can make purchases without verification. Frequently Asked Questions About Buying Bitcoin in Kenya, How To Buy Bitcoin With Ghana Cedi (GHS) on Binance – Ultimate 2020 Guide, Major African Remittance App ChipperCash Adds Bitcoin, FTX MOVE Contracts – How Do They Work and How To Trade Them, How To Buy Bitcoin With Mobile Money In Uganda, How To Buy Bitcoin With A Debit/Credit Card In Nigeria, Is Bitcoin Legal or Illegal in Ghana? Just like in any online business, scammers are many. Hi! Bitcoin exchange companies have made provisions whereby after each successful trade, the trading partners leave feedback to each other. And the ATM accepts deposits in dollars and Kenya shillings. Best place to buy bitcoin in kenya. To make deposits, click on your wallet account and select the deposit amount and payment method. Your email address will not be published. Payments on Paxful can be made via MPESA, Chipper Cash, Western Union, and 300 other payment options. Binance, the world’s leading cryptocurrency exchange, is running a free webinar to educate Kenyan users on the opportunities in peer-to-peer (P2P) bitcoin trading. A message is sent to your phone to confirm ownership. Who would want to deal with a slow trader? A more detailed step-by-step guide can is down below: Bitcoin is digital money, it is money just like the Kenyan Shilling, but instead of a paper and coin-based form of currency, Bitcoin is virtual. You only need to have an email address, ID, phone number, smartphone, and some photos. To have access to all features and payment methods, you will have to verify your identity with a valid ID card like passport, driver’s license, and national ID. This has boded well for bitcoin adoption in Kenya as more people come to recognise it as an alternative currency and as a potentially lucrative investment. To buy bitcoin on this platform, you need to create an account and submit the necessary verification documents. Payments on Paxful can be made via MPESA, Chipper Cash, Western Union, and 300 other payment options. They will fleece you. Working in 2020 isn’t about sitting in a plain office cubicle from 9 to 5 anymore. It only takes about 10 minutes and the person receives their Bitcoin. ... How to earn Passive Income in Kenya from Trading Bitcoin How to earn passive income in Kenya while trading in Bitcoins. Upon confirmation, you are given a unique reference number that can be used when someone is paying you in Bitcoins. Send money to the seller and click on “paid”. The concept behind bitcoin is to have a new form of money that gives you absolute freedom—bitcoin is decentralized, permissionless, anonymous* and fast. Once verification is complete, you can start buying bitcoin on Paxful. Though bitcoins are not physical they have very high value, let say 1 Bitcoin = +/- Ksh 376121.16 and can be converted into local currencies. Currently, there is no legal framework that describes cryptocurrencies as illegal in Kenya. When Bitcoin was first mined in 2009, mining one block would earn you 50 Bitcoin. The verification process on CEX.IO is quite extensive which makes it one of the most secure exchanges on the planet.

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