Best Bitcoin Exchange for Kenya
In Kenya there is one in a lounge at Kenyatta University, one in the middle of town and one in a restaurant in Nyeri County: a BitCoin vending machine.
Bettys Place Restaurant accepts payments in the crypto currency BitCoin, but has set the minimum volume to 100 KSh. Customers can now enjoy their Nyama Choma and other favorite food and pay with BitCoin. Although crypto currencies are not yet recognized as legal currency by the Kenyan central bank, they remain popular worldwide and more and more people in Kenya are interested in them.
In order to pay with the virtual currency, you need a block chain wallet linked to a mobile phone application to manage, send and receive digital assets. Restaurant owner Beatrice Wanjiru Wambugu, a crypto currency lover, says three people have paid with BitCoins so far. They paid the equivalent of 4,000 KSh.
We convert the equivalent in local currency with the value of the BitCoins. A BitCoin can be reduced to the eighth decimal place, e.g. 0.00000001 of a bit coin. You can pay one bill for everything from Sh100, says Beatrice Wanjiru Wambugu.
Crypto currencies should be regulated somehow
The Kenyan Parliament, through the Finance and National Planning Committee, has recently convened the Cabinet Secretary for Finance, Henry Rotich, to try to understand the depth of BitCoins and other crypto currencies used in the Kenyan market without any political formulation, regulation or law being passed in Parliament.
Parliamentarians were surprised to find that in Kenya there was a lounge at Kenyatta University, an ATM in the city and a restaurant in Nyeri, whose owners were doing business with BitCoin without government regulations and possibly without awareness of how it works.
Earlier this year, the Central Bank of Kenya, through Governor Dr Patrick Njoroge, warned the public to invest in crypto currencies and to reduce or stifle any value transfer related to crypto currencies through a circular to the banks. But in July, Parliament gave two weeks by the Finance and Planning Committee for Finance Secretary Henry Rotich to examine the feasibility of the rules for taxation and regulation of krypton users. We see that the untaxed revenues are high and the acceptance of crypto currencies is growing day by day.
This prompted the regulator, the Kenyan Central Bank, to issue a further statement contradicting the statement published earlier this year. The Kenyan central bank is open to the introduction of crypto currencies such as Bitcoin as alternative payment methods, with the possibility of reducing fraud. A good way? Perhaps Kenya will be interesting for Europeans who do not like the current European regulatory trends.
About Kenya
Most of Kenya consists of deserts and semi-deserts. High mountains rise in the west and south of Kenya – extinct volcanoes such as Mount Kenya (5,199 m). The Rift Valley, a gigantic ditch, divides the country into two halves. It runs through the whole of East Africa, under the Red Sea and as far as Israel.
There are 48.4 million people living in Kenya. Almost half of the Kenyans belong to a Bantu people, one in three belongs to a Nilote people. About 150,000 people originally come from Asia or Europe. The capital is called Nairobi. The Massai called the place where the city was founded “Uaso Nyirobi” – place of sweet water. The name “Nairobi” derives from this. The city has about 4.4 million inhabitants. More than half of Nairobi’s population lives in slums.
The National Park is particularly worth seeing in Nairobi. It was already opened in 1946. About 80 species of mammals and 500 species of birds live there. There is also a railway museum in the city with old steam locomotives. Well over a third of the Kenyans are considered poor. 40 out of 100 Kenyans who are old enough to be able to work are unemployed. Those who have a job mostly work in agriculture. Every 3rd Kenyan offers services – for example as a street vendor, craftsman, restaurant waitress. Of every 100 children, 26 have to work because their families are poor. More than a third of Kenyans are considered poor. Every 3rd Kenyan has to make do with less than 1.55 euros a day.
Sometimes – especially in the north of the country – it rains very little or not at all for years. The harvest dries up. Above all old people and children and many animals die of thirst. Drought catastrophes such as in the year 2000 are not uncommon: At that time more than three million people did not have enough to eat. Schools had to close because hardly any children came to school. They were too hungry or too weak. Many parents could not pay the school fees because they had no more income. Nothing grew on their fields, all their livestock had died.
In Kenya every 6th child under the age of 5 is malnourished – in Germany almost every 6th child is too fat. Most children in Kenya die of malaria. Many diseases are caused by dirty water. Even in the cities only 82 out of 100 people have the chance to use clean drinking water, in the villages even only 57 out of 100 people. An average of 2 doctors and 14 hospital beds are available for 10,000 Kenyans.
The Massai are an ethnic group in southern Kenya. They are semi-nomads, wear different clothes than other Kenyans, believe in the god Ngai and live in semicircular huts made of dried cow dung. The settlements consist of several huts around which a hedge of thorns is pulled to protect them from wild animals. At night they bring their cattle, sheep and goats to this area behind the hedge of thorns. Massai live from cattle breeding. They wander around with their animals, but due to the large nature reserves they no longer have so much space for their animals. A Massai usually has at least 50 cattle. The Massai drink the blood of the cattle, mixed with milk. The animals are not killed, but the blood is drawn off. The dance of the Massai men is famous. The young men jump on the spot as high as possible.