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Thursday, May 13, 2021

Bitcoin Kenya – Buy bitcoins in Kenya

Buy and trade bitcoin on localbitcoins.com

buy bitcoin kenya

LocalBitcoins.com is a website where you can find people near to you who are also looking for buyers and sellers of bitcoin. You can advertise that you would like to buy or sell bitcoin, and you can trade with other users of the localbitcoins website. Trades can happen on the website using escrow and bank transfers, or you can meet the buyers in person and trade cash.

 

Buy bitcoin in Kenya from a bitcoin exchange

buy bitcoin in kenya

Belfrics is a smart digital asset trading platform where traders and investors can expose themselves and interface with new digital currencies like bitcoin, ethereum, litecoin, Bitcoin Cash (BCH) and Belrium (BEL) to name a few.

Belfrics offers an unrivalled trading experience through a peer-to-peer funding market and ensures a secure environment in which users can trade.

If you would like to be in full control of your bitcoin once you have used an exchange, you can withdraw your bitcoin from the exchange to your personal bitcoin wallet.

Buy bitcoin in Kenya with PayPal

It is possible to use your PayPal account to buy bitcoins online suing the VirWox exchange to first purchase Linden $ (currency used in the game Second Life) and then using those to buy bitcoin.

buy bitcoin with paypal

Using PayPal is risky for the vendor as the transactions can be reversed, so there might be limits to the amount of bitcoin you can purchase in the beginning.

Buy bitcoin using your credit or debit card

If you would like to buy bitcoin using your credit card, CEX.IO is the place to go to. Follow our guide to get registered, add your card to the system, deposit money, and finally buy bitcoin. Pay the USD or EUR rate for bitcoin on the CEX.IO exchange, with a 3.5% credit card fee + $0.25 fee for deposits.

Buy and sell bitcoin using Mycelium wallet on your mobile phone

If you have installed the Mycelium wallet on your mobile phone, there is an option for you to Buy and Sell bitcoin with other users of the Mycelium wallet. You can advertise that you are looking to buy or sell bitcoin, and using your GPS information, the wallet will let you know of other people near to you who also want to trade. Mycelium wallet will help you to trade with the other users face to face.

Earning bitcoin in Kenya

You can sell your goods and services for bitcoins using a variety of methods, the most common way is to simply ask to be paid in bitcoins to your bitcoin wallet address.

If you want to sell products on your website you can use a checkout system like bitpay to make the whole process easier for buyers with bitcoins. Blockchain.info has a good android app that will allow you to keep a wallet on your android phone, which you can use to accept bitcoin payments, and also to make bitcoin payments.
If you have an android phone or tablet, you can install the blockchain.info merchant application, so that you can allow your customers in your store to pay you any amount of KES in bitcoin using the latest exchange rate.

Mine your own bitcoins

You are still able to mine your own bitcoin, although, at the current exchange rate for bitcoin, you will be spending more money on equipment and electricity costs than is worth your while. It would be a gamble and a very close call to get your return on your investment. If the price of bitcoin should go up considerably, then you will make back your money, but unfortunately, the bitcoin mining difficulty goes up all the time so by the time that happens, it might be too difficult for your hardware to break even.

The purpose of bitcoin mining is to secure the network and verify transactions, it is not supposed to be hugely profitable. It is a self-regulating system, so at the best of times you can make some profit, but generally, it is not a vast amount more than you can get by just buying bitcoins at the market rate. At this stage of the game it is smarter to be buying instead of mining because don’t have to spend big money on mining equipment, don’t have to house and power your miners, or have the hassle of the noise and heat generated by them, or the problems of configuring or hardware, network or power failures.

Joseph Ibezimhttps://www.xtrahola.com
Joseph is an Internet scientist by mind and founder of Xtrahola Concept. Lover of all things tech, and general geekery.

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