In Summary
  • The duo targets new crypto investors who want to buy or sell, store, send or receive, deposit or withdraw digital value online, without being scammed.
  • Their competitive advantage comes when customers are able to send, receive, deposit and withdraw for free and charge only 1 per cent when buying or selling.
  • On the platform, Kenyan users can use M-Pesa to buy or sell Bitcoin, Ethereum, Litecoin, Ripple and other major global cryptos, using their mobile numbers as identity.

For over six years now, the interest in cryptocurrency trade has been rising in Kenya’s Silicon Savannah that now see it as the future of value exchange.

The online trade that runs on blockchain technology is here with us, but the ride has not been easy for newbies who have lost huge sums of money.

A lack of regulation in an online market thriving in a struggling economy has given fraudsters the confidence to exploit the crypto information gap among traders, and the need to trade in the safest possible ways has never been as urgent.

“Many Kenyans still lack information about crypto buying and selling, the dynamics and how they can avoid scammers. They buy the trap of getting high returns in a short time and end up losing their cash,” says Bryan Adams who has been in the scene for over three years.

However, this has not deterred Kenyans from utilising their innovation to try to bridge such gaps and making the trade more enjoyable.

The reality is that cryptos give you the liberty of buying value in fractions, trading it or simply hedging it inspires many. If you feel like one Bitcoin (Sh1 million) is too much for you, you can split it and buy 0.0001 (Sh100) of it.

REDUCED COST OF OWNERSHIP

This reduces the cost of ownership and does not require you to spend out of bounds. Using a crypto converter, you can find out the price of any cryptocurrency in any currency and invest accordingly.

Armed with this knowledge, Joshua Mutisya teamed up with his Russian friend Dmitrii Surkov to concoct Totalcoin, a crypto solutions platform that offers affordable mobile crypto banking, secure trading platform and exchange services for various digital coins across the globe.

A notable feature of Totalcoin is the ability to transfer cryptos between users on the platform using phone numbers. This pushes away the mistakes users make when they have to copy addresses with long characters in order to transfer crypto.

 “We realised that most crypto exchange platforms push a couple of transaction costs to customers, who, in lack of affordable rates, had to bear with the charges,” the computer systems engineer explains.

The duo targets new crypto investors who want to buy or sell, store, send or receive, deposit or withdraw digital value online, without being scammed.

Their competitive advantage comes when customers are able to send, receive, deposit and withdraw for free and charge only 1 per cent when buying or selling.

On the platform, Kenyan users can use M-Pesa to buy or sell Bitcoin, Ethereum, Litecoin, Ripple and other major global cryptos, using their mobile numbers as identity.

‘SEAMLESS, SECURE ENVIRONMENT’

“Customers can also transact using Paypal, Western Union, Payoneer and other world digital payment modes. We allow them to exchange different coins in a seamless and secure environment,” says the Kenyatta University computer engineering graduate.

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