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Small businesses in Kenya become more often to accept payments in cryptocurrency

Small businesses in Kenya become more often to accept bitcoin payments

Kenyan health services provider Health Land Spa, which located in Nairobi, began to take bitcoins and other cryptocurrencies as payment to prevent loss and to simplify accountability. The provision of services per virtual currency is a real trend among small businesses in East Africa.

In an interview with a Kenyan news site, founder of Health Land Spa Tony Mwongera said:

"In my business thrives theft. For this reason, I decided to use the reliable and safe technologies. The adoption of bitcoin payments allows me to reduce revenue losses and to simplify accounting".

At the moment clients Health Land Spa having digital wallets with bitcoins, can pay them for a massage, pedicure and other treatments. The company, which also accepts dash, is looking to add more cryptocurrencies in the coming months.

Tony Mwongera is not the first service provider in Kenya, has made a step towards bitcoin. Boxlight Electronics, company that sells television sets, home theaters and other gadgets, also accepts Bitcoin and Bitcoin Cash as payment.

Robinson Murage, chief Executive officer of Boxlight Electronics:

"Recently, our customers have increasingly asked us to enter a payment method for goods and services through virtual currencies. As a company, 90% of clients which is technically-savvy youth who prefer online payment, we have adapted to the new requirements."

Restaurant called The Betty's Place, located in the Kenyan town of Nyeri, also accepts the digital currency as payment. Restaurant owner Betty Wambugu said:

"As the world becomes increasingly global, my restaurant is also becoming global. Cryptocurrency payments attract tourists from around the world, as it allows them to avoid exchange dollars or euros into local money to pay for goods and services. While cryptocurrencies are viable, we'll take them."

It is noteworthy that the two-storey building, which houses the restaurant Betty's Place, was purchased Wambugu for the cryptocurrency. Wambugu has recently started hosting classes at her restaurant on Sundays to encourage uptake of cryptocurrency. According to her, the authorities do not follow the development of technology, but it is not so — the government of Kenya has already established a task force to study of the blockchain technology and its implementation in the state economy.

A few months ago, the Kenyan Parliament has instructed the Finance Ministry to come up with ways to regulate bitcoin and other cryptocurrencies. At this moment, the position of the government of Kenya regarding bitcoin is unknown, but it is no secret that the economy of Kenya is rated as one of the largest cryptocurrency markets throughout the world.


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