Interest in digital currencies has been on the increase globally, and Kenya is no exception. Amidst the many revolutionary changes taking place, the introduction of bitcoin promises to restructure economic finance as we know it.
Since its introduction in 2009, Bitcoin has not only increased in popularity but also value. Its increased popularity and value can be traced to its increased adoption across the globe. Although it might have started off with a trickle of people, bitcoin ownership and transactions among Kenyans have been on the increase in the last few years. With millions of people getting sensitized about the potentials within bitcoin, it comes as no surprise that a lot of people are fast shifting into the crypto space.
Kenyans have come to see bitcoin as more than just an innovative technology but as a store of wealth and a digital currency that cuts across the vulnerabilities of the financial sector. Bitcoin cuts across cross-border payments allowing faster and less expensive international transactions. Entrepreneurs can easily globalize their business as they can complete cross-border transactions in minutes without needing to wrestle with the bureaucracies the banking system is characterised by. On the Yellow Card Mobile App or Website, Kenyans can easily set up their account and complete transactions across the globe with no hidden charges.
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Bitcoin has contributed to strengthening social trust by creating a transparent system where transactions cannot be reversed or manipulated. This allows for traders with no prior contact to complete transactions based on the trust they have in bitcoin, ensuring that their interests are protected. With this, bitcoin has created an avenue to grow economically by providing a protection traditional banking systems can’t offer. Yellow Card has further helped to ensure this security by setting up a top-notch security system that protects the digital wallets of its users.
The Global Pandemic, Covid-19 disrupted the economic sector leaving thousands unemployed and struggling to provide for their families. Bitcoin came as the knight in shining armour offering Kenyans a means to trade and earn profit. Yellow Card has helped create an avenue for Kenyans to earn an extra income from its referral program. One can easily earn commissions from inviting friends and colleagues to trade on the platform. This has invariably helped create an additional source of income through bitcoin trading.
Perhaps the most significant benefit of bitcoin that makes it so popular today is its strive towards financial inclusion for all. Bitcoin is created to facilitate banking with no limitations, bring it closer to the unbanked and underbanked. Reducing the cost of transactions and allowing people to operate without the traditional banking system has facilitated quicker and easier access to make and receive payments. The primary vision of Yellow Card is to bring financial inclusion, which is why Yellow Card has expanded to numerous countries like Ghana, Nigeria, Botswana, and South Africa. With Yellow Card, users can enjoy the very best rates for bitcoin and buy bitcoin directly from their Yellow Card account with shillings.
Indeed, bitcoin is fast spreading into the economic institutions of Kenya. With bitcoin, you can complete your everyday transactions, earn an income, and keep it as a store of wealth. The potentials of bitcoin are yet to be fully harnessed and hold the possibilities to solve the vulnerabilities in Kenya’s financial system, bringing it one step closer to the people. With Yellow Card on the fast lane to helping Kenyans secure bitcoins with ease, one can look forward to breaching the widening gap between financial institutions and the unbanked and underbanked.
Related:
Kenya’s Regulator Readies for Crypto Assets
69% of Kenyans More Open to using Cryptocurrency – Mastercard Survey
