kenya bitcoin

The cryptocurrency market has reportedly been one of the hottest investment trends of 2017. With investment returns coming back in the tens or even hundreds of percents, its no wonder than so many investors have come into the space. Eugene Mutai, a native of Kenya, has become an avid investor in the cryptocurrency world. After leaving the tough nature of the agriculture industry, Mutai decided to begin mining altcoins. he stated that “I was curious about what was making these alternative coins drive.

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Bitcoin was had to mine by that point in time. There were already many bitcoin miners. Instead, I started mining Ethereum, a similar but less well-known cryptocurrency.” Mutai, like many others in the cryptocurrency world, quickly became enveloped in the massive opportunity presented by such a new market. He stated that “The way I understand what mining cryptocurrencies is, is that it’s basically supporting the network and helping the verification and adding on transactions to the whole blockchain database.” Miners work by solving advanced computational problems with high powered computers. Once these problems are solved, a transaction on the network is pushed through, and the miner is rewarded with a certain amount of cryptocurrency.

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Every time that Mutai pushes through a transaction on the network, he is paid by a certain predetermined amount. He stated that “there’s something known as a Hashrate, which is basically how fast can you verify transactions, and eventually help the transactions to be added to the block. The more powerful your computer, the more transactions you can verify, the more money you can make. Then for every transaction verification, you get something called a share, which is translated into the cryptocurrency that you’re mining.” Mutai is able to bring in almost $800 a month, which is more than he would have ever made in the agriculture industry.


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