EXPLAINER GUIDE: How to Buy $USDC Using Kenya Shillings (KES) on MoneyGram

MoneyGram recently announced the rollout of an on/off ramp service for digital wallets to increase the utility of digital assets by creating a bridge between cash and cryptocurrencies.

The leading money transfer service, which employs an agent system where users can receive their cash transfers, said the service will be available, firstly in key remittance markets, including Kenya in Africa.

One of the things that you can do with the service include:

  • Get $USDC for cash
  • Get cash for $USDC

You get to do these without the need for any bank account or credit card, from a MoneyGram agent location.

Below are the steps on how to buy $USDC using Kenya Shillings (KES) in Kenya:

1. Open An Account on Stellar Wallet

We suggest you get yourself the Lobstr Wallet, which is the wallet introduced by the Stellar network.

It’s easily available on the Play Store.

Once you have the wallet, all you need is to simply create an account.

Login is straight forward – enter your email and a password. You will also get a seed phrase that you can use to recover your account if you lose your password.

Unlike most wallets, you also get a username that people can select when they are sending funds to you.

______________________________________________________________________

SEE ALSO: Kenya One of the First Markets as MoneyGram Launches Global Crypto-to-Cash Service on Stellar Network

______________________________________________________________________

2. Select ‘Buy USDC‘ Option

Once you are on the home page, you can move the cursor to the top left part of the page and click on the 3 lines icon to reveal the menu.

Once the menu shows up, select Buy USDC. You will see it has a Moneygram icon.

3. Enter Amount

When you select the USDC option, the app will open a MoneyGram page where you get to enter the country and how much you wish to spend in USDC.

4. Choose a Moneygram Location

The app will prompt you to provide Location access permission.

Once you do so, this let’s the app find MoneyGram agents in your Location. From here, select the agent you want. You should then be able to exchange your cash for $USDC.

On the other hand, you can as well walk to a Moneygram location to exchange cash for your $USDC.

NB: Most MoneyGram agents are located within banks.

______________________________________________________________________

RECOMMENDED READING: [WATCH] Visa Partners with Tala, a Leading Kenyan Mobile Loan App, to Provide Access to the USDC Stablecoin

______________________________________________________________________

Thank you for your support by helping us create content:

BTC address: 3CW75kjLYu7WpELdaqTv722vbobUswVtxT

ERC20 Address: 0x03139524428e40E31f13909f8D994C915FB91277

SOL address: 9cC65AWFHj848kntcoyiT8av3jiRQEqyTTmBR1GvVUb

____________________________________________________________________

Follow us on Twitter for the latest posts and updates

Join and interact with our Telegram community

_____________________

Subscribe to our YouTube channel below for more updates:

____________________________________________________________________