ICT Africa Headline News

BitX, First Bitcoin Wallet and Exchange Service, Now Live in Kenya

08 August, 2014

Source: CIO East Africa

 
By Michael Ouma:

BitX, a secure digital wallet which makes it easy to buy, sell, store, spend and receive Bitcoin, is now live in Kenya.

The service is available via the BitX Kenya portal and all a user needs to do is register and create a profile using an email address, password and also select a location from over 10 countries provided in the drop-down list.

Through BitX, one can conveniently and securely send, receive and store his/ her Bitcoins. The BitX Wallet is hosted on secure servers and Bitcoins are stored offline to ensure the safety of your Bitcoins.

"BitX allows you to conveniently and securely send, receive and store your Bitcoins. The BitX Wallet is hosted on secure servers and Bitcoins are stored offline to ensure the safety of your Bitcoins," states BitX Kenya.

Apart from Kenya, BitX also operates Bitcoin exchanges in several other countries globally including Brazil, India, Indonesia, Malaysia, Mexico, Namibia, Nigeria, Philippines, Poland, South Africa and Turkey.

The BitX Exchange is a market platform where people buy and sell Bitcoins - a decentralized digital commodity that provides an alternative to transacting with traditional currencies - using local currency in a secure environment and more conveniently.

People place orders to buy or sell Bitcoins at particular prices into the system. Whenever a buy order matches a sell order, a trade occurs. BitX takes care of clearing the trades so that there is no risk of counterparty default.

Bitcoin is like digital cash and was specifically designed to be used over the internet. It can be transferred from one person or a business to another instantly, securely, irreversibly, and with minimal transaction fees.

The BitX Kenya website states: "You can buy and sell Bitcon from Bitcoin exchanges using traditional currencies. The number of businesses accepting Bitcoin as a form of payment is increasing daily and you can now use Bitcoin to buy a range of goods and services online and offline."

The BitX Kenya team comprises of 7 individuals, drawn from all over the world and from diverse professional backgrounds. Among them is Apollo Sande, a Kenyan who is a mechanical engineer and Open Source advocate.


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