Central bank governor Patrick Ngugi Njoroge while speaking to media houses last year said that Kenya was not ready for digital currencies. Digital currencies include; Beenz, E-gold, Rand and Ven. Crypto currencies such as Bit coin pose a significant challenge to central banks' ability to influence the price of credit for the whole economy. In this article am going to focus majorly on Crypto currencies and to be specific am going to talk about Bit coin, other types of Crypto currencies include Robocoin and Dogecoin. Very few countries in the world allow use of digital currencies due to various reasons. Countries that allow use of bit coins include; united states, Estonia, Denmark, Sweden, South Korea, The Netherlands, Finland, Canada, United Kingdom and Australia. Some countries such as the United States have Bit coins ATM's same way we have bank ATM's. USES OF BIT COINS In developed countries such as the United States bit coins are used just like traditional currencies (coins and notes) to do day to day transactions.
WHY KENYA IS NOT READY TO ADOPT BIT COIN Kenya is not ready to adopt bit coins because they can paralyses the economy. Bit coins can also be used to make transactions that cannot be traced, considering the tech level of our country it is very evident that one can do a lot with bit coins without being traced. Using the deep web one can buy drugs, firearms and any other items that are illegal in our country anonymously. Politicians and other corrupt individuals can also use bit coins to route money from the economy by purchasing bit coins and using modern technologies to either make transaction or make money not traceable. Normally one bit coin exchanges with dollar at $2,600 (according to new York time’s websites) this therefore translates to 269880 as the dollar exchanges with kshs at 103kshs. Although bit coins are illegal in Kenya, people still use bit coins to transact anonymously. The bit coins are readily available for sale on various websites such as; coin base, local bitcoins.com, bitquick, coin corner, bitbargain and xapo. Although one bit coin is exchanges at $2600 one can still purchase a fraction of a bit coin for example 0.0000001 bit coin Story by John Kabiru varsity news. giving you the truth when no one can trace it.
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7/25/2022 01:55:08 pm
https://www.kriptoseyir.com/category/bitcoin-nasil-alinir/
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