The post Bitcoin Adoption in Kibera, Kenya Shows Potential Amid Challenges and Speculative Use appeared on BitcoinEthereumNews.com.

Bitcoin adoption is gaining momentum in Kibera, Kenya, where around 200 residents are using the cryptocurrency despite significant infrastructural and educational challenges. While Bitcoin offers lower transaction fees and potential financial growth, many users in Kibera currently treat it as a speculative asset rather than a medium for daily transactions. According to COINOTAG sources, sustainable Web3 adoption in Kenya hinges on ongoing education, investment, and community support beyond initial grant funding. Bitcoin adoption in Kibera, Kenya, highlights the promise and challenges of crypto use among the unbanked, emphasizing the need for education and infrastructure. ‘, ‘ 🚀 Advanced Trading Tools Await You!Maximize your potential. Join now and start trading! ‘, ‘ 📈 Professional Trading PlatformLeverage advanced tools and a wide range of coins to boost your investments. Sign up now! ‘ ]; var adplace = document.getElementById(“ads-bitget”); if (adplace) { var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”)); var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex; adplace.innerHTML = adscodesBitget[adsindex]; sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1; sessionStorage.setItem(“adsindexBitget”, sessperindex); } })(); Bitcoin Adoption in Kibera: A New Financial Frontier for the Unbanked In Kenya’s largest informal settlement, Kibera, Bitcoin is emerging as a vital financial tool for the unbanked population. This grassroots adoption, catalyzed by AfriBit Africa’s initiative since 2022, demonstrates how cryptocurrency can bypass traditional banking barriers. By enabling local workers, such as garbage collectors, to receive salaries in Bitcoin, the initiative has sparked interest among small-scale entrepreneurs and vendors. This shift is significant because it offers an alternative to Kenya’s often costly and inaccessible financial services. Bitcoin’s lower transaction fees compared to conventional ATMs and mobile money platforms present a compelling value proposition for residents who face daily cash security risks. Moreover, Bitcoin’s potential for asset appreciation provides an incentive for users to hold rather than…

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Filed under: News - @ June 10, 2025 11:29 pm