AFRICAN DIGITAL CURRENCY

ASSOCIATION Buy, Trade, and Store Bitcoin

by

John Karanja

www.africandca.org

Twitter: African_DCA

Sponsor: Whive.org | @Whive

What are Digital Currencies?

Virtual: Backed by Fiat M-Pesa

Tokens like Bonga Points

Crypto Currencies like Bitcoin

What is Bitcoin?

• The Internet of Money?

• Global M-Pesa?

• Peer to Peer (P2P) Digital and Crypto

Currency.

• Blockchain – Public Ledger of Transactions

HOLY TRINITY OF MONEY

COMMODITY CURRENCY TECHNOLOGY

How do I get Bitcoins in Ke?

• Mining.

• Get paid in Bitcoin e.g. writing articles.

• Buying from Exchanges like BitPesa.

• Trading on platforms like BitX.

• Selling goods in Bitcoin ECommerce

What is Bitcoin Mining?

• Primary Method of Securing Bitcoin Network.

• Use of specialized computers to crack a hash

algorithm built into the protocol.

• Miners get rewarded for each block mined.

• Rewards consist of transaction fees generated

within the network.

• Involves costly “Work” that uses electricity!

Accepting Bitcoin!

Buying Bitcoin: Local Bitcoins

Get charged about 8-12%

Bitcoin Eco System

Buy @ BitPesa.Co

• Via Paybill # 961700 & Account: 00553

• We send you days FX Rate for KES/BTC

• Charge only 3% vs 8% Other option

• More Info Contact john@bitpesa.co

• Fast: 1 day purchase

• Easy: 2 Steps Payment

• Cheap: only 3% charge on days F/X Rate

Comparative Analysis: Remitting Money to Kenya

Case Study: KENYA Time Need CC or Bank

Account? Fees

F/X Margin

BitPesa Minutes No 0% <3%

Bank Wire 5-7 Days Yes $25-50

flat 4%

Credit Card Settlement 2-3 Days Yes 2% 2%

PayPal 5-8 Days Yes 4.5% 2.5%

Western Union (from UK) Minutes No 5% 1%

Western Union (from US) Minutes No 7% 3% *Fees for USD 100 transfer to Kenya

BitPesa Kshs 0 transfer fee, 3% F/X Margin

MPLICATIONS

References

• Winklevoss Capital the Internet of Money

• BitPesa.co African Bitcoin Exchange {Slides}

Contact Us

• AfricanDCA.org

• jkaranja@africanDCA.org

• @KaranjaJohn

• +254 725 274191