In the apartment of a Nairobi cryptocurrency miner, the sound of money drowns out all others. Cryptocurrencies are mined 24/7 and nothing can slow it down. 28 year old Eugene Mutai has devoted his current life to mining cryptocurrency and investing all his money in initial coin offerings.
For those who don’t know, initial coin offerings are a new way for companies to raise capital using the cryptocurrency platform. These start-ups create a currency similar to a stock that can be bought to raise money for the company and then held on for investment purposes, or traded for traditional forms of fiat currency.
Mutai is one of thousands who have begun to get in on the cryptocurrency craze, and he continues to live out a dream of becoming rich via this method. He recently stated that “the entire ecosystem could be the biggest wealth-distribution system ever. Big players can’t deny anyone from participating in the financial system.”
The appeal of doing so interests Mutai for many reasons. This market has somewhat leveled the playing field that sometimes only responds to those who are at the highest levels of the market. The financial market is traditionally one that is only made for those who have a large amount of capital to begin with, but with cryptocurrency, the market has somewhat been leveled.
One of the main issues with cryptocurrency mining if the fact that it takes a large amount of energy. This can often be a high barrier to entry and leaves many from getting involved. Hopefully, people like Mutai can continue to live out their dreams, and become successful like so many people have in the cryptocurrency space. While at sometimes the market may seem dreary, only time will tell what occurs in the industry.