Why Bitcoin betting is growing in Kenya

Posted on December 8, 2021 by SoccerPunter

It may never have been expected that you could make use of your Bitcoins in a casino but that is precisely what has happened over recent years. Those in Kenya have seized the opportunity to use this cryptocurrency and this has led to dramatic growth that is leaving the rest of the world behind.

What is it that has led to such growth in Kenya? Do they all know something that we don’t or are Kenyans uniquely placed to benefit from all that Bitcoin has to offer? Let’s take a look at what makes Bitcoin casinos an obvious choice and exactly why Kenyans are some of the biggest fans that exist.

Bitcoin in Kenya

Betting aside, there are reasons why Bitcoin, and other cryptocurrencies, are so popular in Kenya. The country is often dealing with its own fiat currency which is a little unreliable, to say the least. The year 2021 has seen the currency fall significantly against the US Dollar and this leaves Kenyans feeling less than secure.

Investing in Bitcoin has given Kenyans stability. It means that they can make international purchases with a currency that is universally accepted around the world. There is no reason for Kenyans to pay over the odds all because of a poor exchange rate and a struggling fiat currency. With Bitcoin being attractive in Kenya as it levels the playing field for purchases, it makes perfect sense that this extends to the world of betting too.

Why Bitcoin casinos?

Bitcoin casinos bring numerous benefits to players, not just in Kenya but around the world. When you look at some of the most common frustration that players face when betting online, you can be sure that Bitcoin casinos do away with all of these. The biggest single frustration has to be the speed of transactions. With traditional fiat currency, it can take days for a transaction to complete. With Bitcoin, this is almost instant.

It is not just the speed of transactions that matter, it is the security of these transactions too. With Bitcoin using Blockchain technology, it is perhaps the most secure form of payment that you will ever find online or anywhere else. For Kenyans who have security concerns, Bitcoin provides the perfect solution.

How Kenya has led the way

Kenya has achieved something quite remarkable when it comes to Bitcoin. The country is now the world leader when it comes to Bitcoin peer to peer lending. This means that the tech-savvy in the country have been creating digital platforms that have allowed residents of Kenya to trade with each other. 

Kenyans are involved with making plenty of international money transfers. The issue with this is that Africa has some of the highest costs around when it comes to these. Bitcoin provides the answer here. By opting to use this cryptocurrency, Kenyans have managed to avoid the extortionate costs that they have previously faced. 

Upcoming investment

The world hasn’t failed to take notice of what is going on in Kenya. With Bitcoin betting increasing in popularity and with the rise in peer to peer lending, bigger companies are realising that they may well be missing out. This means that they are sure to get involved and accelerate the growth even further.

One past example of this can be seen in Binance. As one of the best-known crypto trading platforms around, Binance was keen to get involved with the Kenyan market and this led to substantial investment and some great promotions for those in Kenya. Bitcoin betting in Kenya is only set to go one way.