Kibera Residents in Kenya's Largest Slum Embrace Bitcoin for Daily Transactions

# Bitcoin Establishes Ground in Kibera, Kenya’s Largest Slum An intriguing trend is emerging in Kibera, Kenya's largest slum, where around 200 residents have integrated [Bitcoin (BTC)](https://api.blockmedia.co.kr/binance/outlink/?path=bitcoin) into their daily lives, as reported by BeInCrypto on October 11. Over the past three years, consistent local efforts by a fintech startup have introduced Web3 technologies to some of Nairobi's most impoverished workers, ushering in a new era of financial accessibility. Although Bitcoin's adoption in Kibera is a significant milestone, reports indicate that many residents are more focused on Bitcoin's growth potential than its immediate utility. Building a cryptocurrency community in such an environment is achievable but riddled with challenges. # Bitcoin: A Beacon for Kenya’s Unbanked Population The introduction of Bitcoin exchange-traded funds (ETFs) in the United States has revolutionized the cryptocurrency landscape, encouraging major institutions to adopt Bitcoin as a store of value and a reserve asset. However, Satoshi Nakamoto's vision for Bitcoin extended beyond institutional acceptance. It was designed to be a decentralized alternative to traditional financial systems. While this ideal remains partially unfulfilled in the West, emerging markets present a different narrative. In Kenya, hundreds are now using Bitcoin for daily transactions, according to recent reports. ABC News has highlighted Bitcoin's growing popularity in Kibera, crediting this to the efforts of fintech startup Afribit Africa. Since 2022, Afribit Africa has been active in Kenya, enabling garbage collectors to receive wages in Bitcoin. This initiative has brought numerous benefits, including lower fees compared to ATMs, reduced risks associated with carrying cash, and returns on Bitcoin investments. This grassroots movement has spurred broader adoption, starting with garbage collectors and gradually expanding to local vegetable vendors and small business owners who now accept Bitcoin as payment. # Practical Challenges and Elevated Expectations Despite these advancements, Bitcoin's broader adoption in Kibera faces significant obstacles. With Kibera's population estimated between 250,000 and 1 million, only about 200 individuals currently use Bitcoin. Unlike traditional banking, Web3 access requires electronic devices, electricity, and reliable internet—basic necessities that many residents still lack. A more pressing issue is the speculative mindset of some users. Reports reveal that some Kibera residents have invested 70-80% of their net worth in Bitcoin, indicating a heavy reliance on its potential as a high-yield asset rather than a transactional tool. While some have prospered from their investments, a sharp decline in Bitcoin’s value could devastate parts of Kenya’s impoverished population. Maintaining a sustainable cryptocurrency ecosystem in such a context requires education, continued investment, and significant time. Afribit Africa’s support, totaling over $10,000 in grants to date, has undoubtedly kickstarted Bitcoin adoption. However, the long-term viability of this community remains uncertain without continued external support. These developments nonetheless offer a hopeful glimpse into how cryptocurrencies can gradually provide financial access to marginalized populations excluded from traditional banking. Bitcoin and similar alternatives could become meaningful complements to conventional financial institutions, which predominantly serve the affluent.