Bitcoin News

Use of Bitcoin: More small businesses in Kenya accepts bitcoin payments

Kenya health service provider, Health Land Spa, has begun to use bitcoin and other cryptocurrencies as a means of payment to strengthen accountability and avoid losses.

With an introduction of cryptocurrency, Health Land Spa users can use digital wallets to pay for the massage, pedicure, beauty, and other services.

The facility also accepts DASH payments and plans to increase support for more cryptocurrencies are underway.

“I resorted to bitcoin payment to curb revenue loss. “There was so much theft in my business. So I asked myself, why don’t I use a technology which is safe and secure. I chose bitcoin as the mode of payment, said Tony Mwongera, founder of Nairobi-based Health blockchain.

Of course, Health Land Spa is not the first merchant in Kenya to accept bitcoin payments. Local electrical product provider Boxlight Electronics Company does as well.

Throughout East Africa, acceptance of cryptocurrencies is rising, with at least two restaurants in Uganda and Kenya, selling virtual currency food.

Currently, the Kenyan government has set up a working group to study the country’s progress in blockchain and artificial intelligence.

Introduction of cryptocurrency in Kenya

Betty’s restaurant located in Nyeri owned by Betty Wambugu which sells roasted beef was one of the first business outlets in Kenya to start accepting cryptocurrencies.

“Bitcoin is a means of payment like any other restaurant and we accept it here — at the restaurant the way we do with cash,” Wambugu, business-lady told the BBC

Since the world is becoming more global, my place is also becoming a global restaurant. I attract different customers from different parts of the world, whichever coin they have. As long as it’s a viable coin we accept it.

She further explained, “my relationship with bitcoin started much earlier before I even accepted to use the digital coin. I had used my cryptocurrency savings to buy a two-storey building, which I later converted into Betty’s Place.”

However, the bitcoin side of the business has not been fast for Wambugu, with about 30,000 Kenyan shillings ($300) in sales from around 20 people, as of October 2018.

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coinmag

Hey there! I am Tobias Kumwenda, an IT bank professional turned into a Cryptocurrency and Blockchain proponent from Blantyre, Malawi. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about Cryptonomics and eating if I am not doing anything else.

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