Crypto Casinos experts: more than half of Kenyans have become crypto investors
Date: 2024-07-04 Author: Gabriel Deangelo Categories: IN WORLD
Crypto Casinos experts note that more than half of Kenyans have become crypto investors. The reason digital assets have become so deeply integrated into the lives of Kenyans is the large number of mobile devices that make it easy to access cryptocurrency wallet and exchange applications.
Impact of mobile technologies
A significant factor in the spread of cryptocurrencies in Kenya has been the mobile payment platform M-PESA, which greatly facilitates cryptocurrency transactions. Thanks to M-PESA, Kenyans can quickly and easily transact with cryptocurrencies, contributing to the growing popularity of digital assets.
The lack of strict cryptocurrency regulations in Kenya played an important role in attracting investors and entrepreneurs. Unlike many other African countries that have tried to regulate and suppress technological progress, Kenya has accepted and supported the development of the cryptocurrency market. This has made the country attractive to investors seeking to develop cryptocurrency projects in the region.
Economic benefits of mining
The report also mentions the cost of mining one bitcoin in Kenya, which is about $83,000. At the same time, mining profits reach $17,094 per coin. This indicates the high potential of cryptocurrency mining in the country.
According to Crypto Casinos experts, among African countries the leader in the penetration of cryptocurrency technologies is Nigeria, ranking 16th in the world with a score of 65.67%. Next comes South Africa, which ranks 17th in the world with a score of 64.67%. Kenya also has a significant presence in the African cryptocurrency market, highlighting its importance in the development of the industry on the continent.
Problems and prospects
However, not everything is so smooth. Recently, the Federal Revenue Service of Nigeria (FIRS) announced its intention to withdraw personal charges of fraud and tax crimes brought against top managers of the world's largest crypto exchange, Binance. This case highlights the importance of developing and implementing a clear regulatory framework to ensure the stability and transparency of the cryptocurrency market in Africa.
Kenya has become one of the leading countries on the African continent in the implementation of cryptocurrency technologies. Thanks to high levels of mobile penetration and government support, the country is attracting investors and entrepreneurs interested in developing cryptocurrency projects. At the same time, for further sustainable market growth, attention to regulatory and safety issues is necessary.
