Implementation of cryptocurrencies and blockchain technology in Africa has made the continent a growing tech scene. We have seen many digital currencies investors being interested in being part of the industry. Reports have shown that growing group of African developers and entrepreneurs engaging in the cryptocurrency businesses.
Some have opted being miners of the coins, others traders and some have created a way of advocating the continuous use of the coins. This has been made successful by, giving the local community information concerning the cryptocurrency and also allowing them to pay for services and goods offered using the digital currencies.
Kenyans have not been left behind by the wave. Some have opted to trade the cryptocurrency to make profits and others has made it a way of employment.
Eugene Mutai is a Kenyan cryptocurrency miner in Nairobi. Before he used to work odd jobs on farms. He mines the coins in his apartment. He began with researching everything on digital currencies. Later on he borrowed a smart phone from his colleague and started teaching himself coding.
He settled for Ethereum coins. He uses a self built cryptocurrency mining machine. Ethereum is not common in Kenya and this is how he choose his business gap. His work is to verify transaction of coins. Technically he does not verify the transactions but the machine that he built by himself does the work. Ones the transaction is verified he earns a share of the coins. The more the machine verifies the transactions the more coins he gets.
To be a cryptocurrencies miner you need very powerful computers and a strong internet to make the transactions fast. The computers and the processes consume a huge amount of electricity but it is compensated by the amount of cash he earns monthly.
Beatrice Wambugu was a bitcoin investor who used to trade bitcoins years ago and after she had made a profit, she decided to buy a two storey hotel in Nyeri. She later converted the hotel into a nyama choma joint and named it Betty’s Place.
It is one of the few business in the region that allow customers to pay with two types of cryptocurrencies the bitcoins and dash.
The place is not only a tasty Kenyan cuisine. She teaches the local people and customers more about trading cryptocurrencies, more so bitcoin trading every Sunday at the restaurant. So anyone interested with learning about the coins she asks them to join her on Sunday, a day she has set aside to teach the interested people.
She aims at making the business a global restaurant and a place where they can accept all viable coins. She also has a vision of motivating other Kenyans to trade in these currencies since they are the future.
Tony Mwongera is a chief executive at Healthland Spa in Nairobi. He started accepting bitcoins for payments of goods and services in the Spa to avoid theft cases that were quite happening in the business.
He embraced this technology since he found out that it is a mode of payments that is safe and secure.
From these scenarios we find out that despite the scammers and the government bodies registering that this is a scaring and risky mode of investment there are success stories that Kenyans can look out for and learn other traders experiences before engaging in the business.
Kenyans still need more information concerning cryptocurrency and thus why Blockchain Association of Kenya offers training to a minimum number of thirty people who can attend their workshop training. Some can also research online how the coins are traded.
