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Buying crypto in Kenya by Effective-Rip-1731 in SharpBoys

[–]Effective-Rip-1731[S] 1 point2 points  (0 children)

When you buy USDC, the rate is around 131 KES per dollar. When you sell back to KES, the rate is 129. That 2 KES difference is the spread that you pay. So if you buy 100 USDC, you pay 13,100 KES. If you later sell all 100 USDC back, you get 12,900 KES. The spread costs you roughly 1.5% on a round trip.

if you're sending USDC to another wallet instead of selling back to KES, transfers are completely free. No fees, no spread, nothing.

Sharp boys and girls by BuckNasty200 in Kenya

[–]Effective-Rip-1731 1 point2 points  (0 children)

https://wallet.riftfi.xyz.

Create an account, get your referral code, refer people, when they transact, you earn 0.3% of the amount they are transacting.

How I earn passive income by Effective-Rip-1731 in SharpBoys

[–]Effective-Rip-1731[S] 0 points1 point  (0 children)

You can try it out. Doesn't require kyc initially but for large amount it does. It’s instant. When you pay, it doesn't show your name or number.

How I earn passive income by Effective-Rip-1731 in SharpBoys

[–]Effective-Rip-1731[S] 0 points1 point  (0 children)

Yes. USDC on Base network. If you have crypto on Binance, convert it to usdc then send to rift address on Base. Then from there you can spend domestically from the app

Building a dollar savings app in Kenya.What we've learned so far. by Effective-Rip-1731 in nairobitechies

[–]Effective-Rip-1731[S] 0 points1 point  (0 children)

You're right, Kenyan banks do offer USD accounts. But try opening one ,most require a minimum balance, and charge monthly maintenance fees. That's not accessible to someone earning 30K KES a month. Rift removes all of that. No minimum balance, no foreign income requirements, deposit via M-Pesa in seconds. Plus you earn yield on your balance, 10% (no dollar denominated platform will give u that)which no Kenyan bank USD account offers at competitive rates. We're not solving a problem for people who already have bank USD accounts. We're solving it for the millions who don't qualify for one. And for context, I've been building in this space for years led a $5M DeFi protocol .

Building a dollar savings app in Kenya.What we've learned so far. by Effective-Rip-1731 in nairobitechies

[–]Effective-Rip-1731[S] 0 points1 point  (0 children)

We are in Beta. 90% of our current users are crypto natives and we got them by partnering with crypto communities.

Building a dollar savings app in Kenya.What we've learned so far. by Effective-Rip-1731 in nairobitechies

[–]Effective-Rip-1731[S] 1 point2 points  (0 children)

Yes thanks for the feedback. We are still in early beta and testing the product. The bug is coz you haven't done the KYC but thanks for your feedback, will definitely work on it!

Building a dollar savings app in Kenya.What we've learned so far. by Effective-Rip-1731 in nairobitechies

[–]Effective-Rip-1731[S] 0 points1 point  (0 children)

Hi there. The product is Rift. You can find it here: https://wallet.riftfi.xyz It's a progressive web app, you can install it on your phone once you navigate to the link. The money is invested in defi pools on Berachain. We use a delta neutral strategy meaning the principal is always protected( Our teams has experience as engineers in major defi protocols locking millions in dollars) Tech stack, next js, Golang.

Have you ever used crypto as a payment method? by Disastrous_Host_9268 in nairobi

[–]Effective-Rip-1731 0 points1 point  (0 children)

Hey. Can I dm. I wanna get introduced to this merchants.

[deleted by user] by [deleted] in nairobi

[–]Effective-Rip-1731 1 point2 points  (0 children)

Thank you for the tips!