Worldcoin is a digital currency that operates on a decentralized blockchain network. This means that it is not controlled by any single entity, government, or central authority. Instead, transactions are validated and recorded by a distributed network of nodes, ensuring transparency, security, and immutability. Like other cryptocurrencies, Worldcoin enables users to send and receive funds globally, without the need for intermediaries such as banks or payment processors.
Transactions are typically processed quickly and incur minimal fees, making Worldcoin suitable for various use cases, including remittances, online purchases, and peer-to-peer transfers. Worldcoin is not directly compatible with mobile money services like M-Pesa. However, if you wish to convert your Worldcoin into fiat currency (such as Kenyan Shilling) and then withdraw it to your Mpesa account, you’ll need to follow a multi-step process.
1. Create an account on a reliable cryptocurrency exchange
To begin the process of converting your Worldcoin to M-Pesa, you’ll need to create an account on a cryptocurrency exchange that supports Worldcoin. Look for a reputable exchange with a user-friendly interface, good liquidity, huge trading volumes, and positive reviews from other users.
2. Complete the necessary verification process for your account
Once you’ve created your account, you’ll need to complete the necessary verification steps required by the exchange, which may include providing personal information and identity verification documents. This step is essential for complying with regulatory requirements and ensuring the security of your account.
3. Deposit your Worldcoin into your exchange account
Once your account is verified, deposit your Worldcoin into the exchange’s wallet. Follow the instructions provided by the exchange to generate a deposit address for your Worldcoin wallet and transfer your WLD to this address. This will allow you to store and manage your cryptocurrency within the exchange platform.
4. Sell your Worldcoin
After your Worldcoin deposit is confirmed, navigate to the trading section of the exchange and place a sell order for Worldcoin. Specify the amount of WLD you want to sell and the desired fiat currency (e.g., USD, EUR, etc.). Alternatively, you can sell your Worldcoin for a more widely accepted cryptocurrency such as Bitcoin (BTC) or Ethereum (ETH). These cryptocurrencies are more commonly supported on a variety of exchange platforms and can be easily converted to cash.
5. Withdraw fiat to bank account/other payment services
Once your Worldcoin is successfully sold for fiat currency, you can withdraw the fiat funds to your bank account linked to your M-Pesa account. Follow the withdrawal instructions provided by the exchange, ensuring that you input the correct bank account details for the transfer. You can also use other withdrawal options on your chosen exchange. Look for options that support withdrawal to a mobile payment service like PayPal or Skrill.
6. Withdraw funds to M-Pesa
Once the funds are in your bank account or accessible through online banking, initiate a withdrawal to your M-Pesa account using the relevant mobile banking or money transfer service provided by your bank. To transfer funds from PayPal or Skrill to your Mpesa account, you’ll need to sign up and link your M-Pesa account to the respective service. Once your PayPal or Skrill account is linked to your Mpesa account, you can proceed to transfer the money from the former to the latter. This will allow you to access the converted cash in your Mpesa account for your convenience.
