Cryptocurrency burst in the mainstream when the price of one bitcoin (BTC) reached a new all-time high of $19,783.06 spurring a massive worldwide interest in the blockchain-supported technologies. Like betting, the Cryptocurrency craze has caught up with Kenya and is exciting discussions among citizens who are now putting millions of money at stake in a potentially high-reward gamble.
Notably, a recent research by Citi notes that Kenya is among the few countries in the world with the highest per capita holding of Bitcoin. As it stands now, there is no denying that cryptocurrencies have come a long way and a variety of businesses both online and offline are now accepting bitcoins as payment.
Such popular worldwide stores include Microsoft, overstock, Newegg, Dell among others. In Kenya, cryptocurrencies received a major blow after Central Bank of Kenya issued a circular to all banks in the country warning them against dealing with cryptocurrencies or engaging in transactions with crypto-related entities since the virtual currency is not a legal tender in the country.
This, against Central Bank’s warning, a Kenyan company Boxlight Electronics has gone ahead to become the first electronic shop to adopt Bitcoin payment in Kenya for its products. The company which deals in the sale and distribution of Televisions, Home theatres and home appliances says Bitcoin as payment is becoming a must-have for companies that sell products online.
“We have received tons of requests from our customers to pay using digital currencies. As a company whose 90% of customers are young, tech savvy and predominantly online we choose to be all inclusive and adapt to the needs of those that prefer this type of currency,” Robinson Murage, CEO, Boxlight Electronics. Read more from techmoran.com…
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