If you are interested in cryptocurrency, you can buy popular digital assets like Bitcoin with Mpesa. The process also involves renowned engaging platforms that trade crypto. The payments option Mpesa is currently available in several other African countries besides Kenya to enable global merchants and investors to pay for products and services.
Background of Mpesa payment method
To delve into the details a bit, Kenya is a country where the concept of real money started going out of mind because of technological diversification. Perhaps the banking industry limits many Kenyans with underdeveloped infrastructure investments hindering people from engaging in crypto. The development journey started in 2007 when Kenya’s primary mobile operator, Safaricom, launched the Mpesa digital payment system. ‘M’ stands for mobile while ‘Pesa’ means money in Swahili. The service is available across several countries like South Africa, Egypt, DRC, Mozambique, Albania, Ghana, Lesotho, Afghanistan and the service has over 50 million users in Africa.
An Exchange to Buy Crypto with Mpesa
When you want to buy cryptocurrencies in Kenya, you need a P2P Crypto exchange platform. It would connect you to advanced buyers and sellers in the digital space to trade your assets. As you explore various options, consider a platform that supports the payment method you have in mind; Mpesa, in this case. Other means such as Transferwise, direct bank transfers, debit cards, and credit cards are worth mentioning.
You will also need a secure crypto wallet to store your assets. Depending on your preference, they can be either hot wallets or cold wallets. The difference is slight, whereby one is only available online while the other can be accessed offline.
The Simplicity of Purchasing Crypto with Mpesa
As seen earlier, Mpesa is a widespread network in Kenya. Most of its users desire to know how to buy digital coins. It begins with doing your homework to identify the most suitable. Once you follow the steps to have an active account, you won’t have to convert Kenya Shillings (Ksh) to USD, EUR, or GBP to purchase crypto.
Withdraw Bitcoins to Mpesa
You will have to convert BTC to KSh at first if you want to buy Bitcoin with M-Pesa. Once you find a suitable buyer to sell off your assets, the process is straightforward. The buyer should also deal in Mpesa to trade with you on an exchange platform.
Conclusion
Cryptocurrencies such as Bitcoin will most likely enjoy the same beneficial effect as Mpesa with a mobile payment platform that functions as a network. Kenya and several other countries are seeing some of the developments with cryptocurrency and Mpesa. Besides accessing their accounts on mobile phones, customers enjoy a seamless and user-friendly innovation to navigate crypto’s ecosystem. The money transfer technology follows suit to Western Union and MoneyGram, which are already popular in most territorial borders in the world. While Mpesa is still scrambling to expand, facilitating crypto-to-Ksh transfers is a positive sign of future adoption, especially for big financial organizations. Besides the popular options, you can still get on board to purchase stablecoins like Stellar.
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