- Bitnob exchange has already launched in Kenya.
- Over 50M Kenyans can now receive payments through Lightning.
- There were earlier warnings of crypto volatility by the central bank of Kenya.
According to their source, Bitcoin Magazine, Bitcoin Exchange ‘Bitnob’ has already launched its operations in Kenya. The Integration with the M-Pesa network now allows more than 50 million Kenyans to quickly transfer and receive payments using Lightning from their phones.
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After a one-time setup on the app, users may transfer money between Lightning wallets and M-Pesa without the receiver having to do anything. They have the option of receiving bitcoin or local money.
Bitnob is well-known for its bitcoin savings function, which allows users to save in bitcoin automatically using the dollar cost average strategy. Kenyans will be able to keep their bitcoin for three, six, or twelve months, based on their preferences.
This is a really interesting feature that allows Kenyans to pick how they want to get their bitcoin. This tool makes it simple for Kenyans to receive bitcoin straight into their bitcoin wallet, their USD wallet, or a combination of both wallets.
Kenya is one of the top ten countries with an interest in cryptocurrencies. According to studies, Kenya is a country that is interested in bitcoin, with 94.7% of people searching for it.
LocalBitcoins had 17,000 active users on their site in 2021, which witnessed a significant increase in users. Google Trends also revealed a rise in searches for the word “cryptocurrency” in Kenya, with the capital city, Nairobi, attracting the greatest attention.
Despite warnings from Kenya’s central bank about cryptocurrency volatility, several Nairobi companies are already taking Bitcoin payments. Tony Mwongera, the CEO of Nairobi’s Healthland Spa, began taking Bitcoin payments in 2018.
“I opted to embrace crypto-currencies since there was so much theft in my business,” he explained to the BBC. “So I said, let me utilize a method that is safe and secure, while simultaneously embracing technology.”
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