Nov 13, 2024

Munene Mathendu: Insights from Bitget’s Marketing Manager, Africa

Bitget’s Marketing Manager in Africa, Munene Mathendu, has taken his freelancing in tech and astrology and not only transformed it into a full-time job but has inspired many others to follow his path.

Harnessing his training as a computer technologist and his Bitcoin enthusiasm, Mathendu began exploring a career in Web3 approximately three years ago. After gaining a better understanding of the crypto industry, he became a verified Binance Merchant, creating the blueprint for his growth.

“We invited everyone to join our free classes. It was during these sessions that George Mwakisha, then the Binance Business Developer for East Africa, started attending. George noticed my participation and eventually realized I was the same person who had completed nearly 800 trades. Recognizing my dedication, he promoted me to become a verified Binance Merchant. As a verified Binance Merchant, I gained access to all the markets, enabling me to trade with a broader network and serve a wider audience,” said Mathendu in a Hustle Yangu podcast episode.

Mathendu created a community, Crypto Farm, that early adopters could join without having to pay for expensive masterclasses, while his work also paved the way for OGs in Kenya’s crypto to begin engaging in Binace activities (and related to it).

“I was actually paid to participate in Binance’s online sessions, earning around $100 per session for speaking. This reflected not only the skills I’d developed but also the position I’d reached in the community.”

That community management challenge has grown into something beyond what he ever imagined.

Mathendu’s Journey to Web3

Years back, while Mathendu was in his second year, he worked on a project that focused on building a blockchain-based voting system. At the time, he knew about blockchain, but he wasn’t familiar with cryptocurrency. A spark ignited within him as he did the project.

In 2019, his journey in crypto truly began—he worked with an astrology app, and his manager had high-profile clients who needed charts reviewed before going public. While he was intrigued, he wouldn’t know who he was working with until he looked them up, and sometimes it was a “wow” moment when he recognized them.

“During this period, I met a co-founder of Steemit, a social crypto platform that later launched Appics, a sort of “Instagram for crypto” where likes and upvotes translated into actual crypto earnings.”

This co-founder became a mentor of sorts and guided Muthendu on crypto fundamentals.

One year later, the co-founder shared a tiered investment strategy that finally made sense to Mathendu.

“He explained the different “tiers” of crypto: Tier 1 for high-market cap coins, Tier 2 for moderately risky ones, and Tier 3 for meme coins. I remembered back to my first crypto investments in 2019—Polygon and Cardano—where I started small, buying them for around 10 to 19 Kenyan Shillings each.”

“At that time, my earnings were primarily in PayPal and Payoneer, and the exchange rates were incredible. For example, if I was paid $1,000, I could exchange it for as much as $30. Later, my employer began paying me directly in crypto, especially as the crypto market entered a bullish trend around the 2021 boom.”

“However, I faced a challenge: while I could buy crypto with my card on Coinbase, there was no way to cash out directly.”

After exploring options, Mathendu discovered P2P exchanges like Binance and LocalBitcoin. He moved his Ethereum from Coinbase to Binance but soon realized that Ethereum’s network fees were too high, sometimes up to 3,000 KES per transaction! This experience led him to explore other coins with lower fees, like Cardano, which charged under 50 KES for transactions.

“Looking back, my employer and the mentors I encountered in this journey connected me to the right people and insights, guiding me through valuable lessons in crypto investing and trading. This wasn’t a sponsored experience—just my early steps in crypto and everything I learned along the way.”

A few years later, he dove in deeper and became a Binance trader.

Photos by @Munene Mathendu on LinkedIn

How it went with Binance

Mathendu started his crypto journey almost by accident.

“My employer had paid me, so I transferred the funds into my Binance account. There was one night I was supposed to cash out, but I fell asleep and missed it. When I woke up the next morning, I saw that my balance was much higher than expected. It turned out that I had invested in Cardano (ADA), and overnight, its value had skyrocketed by over 50%. That experience got my attention, and I decided to take crypto seriously.”

“During this period, I was also graduating (around December 2020). I faced family pressure to find a traditional job, especially since my older siblings held prestigious positions in international banks and engineering firms. They were financially successful, while I was the “odd one out,” investing in a mysterious thing called “crypto.” But I had no interest in a 9-to-5 job, and I knew I wanted a more flexible career.”

Ideally, he landed a remote job. However, he soon realized that what he was earning from crypto in a single week was equivalent to a month’s salary from the job. Although the job was stable and secure, the potential in crypto felt much greater, so he left that position to go full-time into crypto trading.

“Around this time, I got into P2P (peer-to-peer) trading. I remember the first time I tried selling on Binance P2P. I noticed that I was making less when selling than when buying, which didn’t make sense at first. I quickly figured out that by posting my own ads, I could control the selling price and earn a premium. It worked—my first trade was completed in less than 10 minutes, and I made 1,200 shillings from an initial 20,000-shilling investment.”

Then, Mathendu began educating his college peers and offered free classes on Saturdays.

“By then, most of us had graduated and were job hunting, so I’d try to convince people to join my sessions, saying, “Look, I’m offering training for free—just show up on Saturday mornings.” It worked, and I was using my Saturdays to teach, trade, and learn every day. My trades and P2P activities kept me going.”

Mathendu realized that many P2P merchants had limited knowledge outside P2P, so he decided to share my knowledge about DeFi, bridging, airdrops, and NFTs.

Eventually, Binance noticed his skills, and he became known within Binance as one of the most active community managers, which led to his role as a community manager for Kenya. Shortly after, I was promoted to oversee East Africa, covering Kenya, Uganda, Tanzania, Rwanda, Burundi, Ethiopia, the Seychelles, and others.

“My responsibilities as a community manager included engaging with the community, onboarding new members, gathering feedback on products, and reporting on the community’s requests.”

Lessons for Web 3 Community Managers

It’s up to you now to start learning and proving yourself with new skills.

“You have to think like the user—understand their mindset and what they might be thinking when they send a message. It’s about putting yourself in their shoes and deriving insights from that.”

“I’ve also led over 50 community campaigns across Africa, including numerous meetups. In fact, over 150 meetups have taken place, and I’d say some of the best educational events were those at Binance.”

“I believe educational meetups are cost-effective because they involve fewer moving parts while still providing valuable content.”

“We even held regional meetups in places like a small village in Uganda called Foa. When organizing events, you have to consider the local context. Sometimes people ask why there are no meetups in certain areas, but it doesn’t always make sense if there are fewer than 50 active participants. It has to be a logical decision for the organization. In Foa, for instance, we discovered there were over 300 active users, so we decided to go ahead with the meetup, and it turned out to be one of the best events I ever hosted.”

When working with smaller audiences, you must treat them differently than larger ones. These smaller groups may need more attention and personalized approaches.

“That’s something I’ve seen companies struggle with—assuming that what works in Europe or China will automatically work in Africa. But the reality is different. For example, an African user might start using crypto today, but they might take 30-50 days to fully engage with it. “

“When I first joined Binance, the community size was around 8,500 members. By the time I left, the cumulative community numbers had surged to over 160,000 in Africa alone, which was larger than Binance’s English-speaking community.”

The best community managers can make a difference by driving engagement and retention.

Crypto is an exciting industry, and those who are part of it, especially in a community management capacity, have the potential for great rewards—both financially and in terms of personal growth.

These are niche jobs, and getting them isn’t easy. It’s not just about being good at operations, but also having strong interpersonal skills and a deep understanding of the industry. You need more than just knowledge of crypto; you need a broader skill set. It’s about being able to communicate effectively, understand the ecosystem, and adapt to new challenges.

Photos by @Munene Mathendu on LinkedIn

Bitget Spot on in Africa

“I wanted to move to a place that would challenge me and help me develop new skills. That’s when Bitget came into the picture [in the marketing manager role]. I felt it was a good fit. “

The major crypto markets include Nigeria, Kenya, and South Africa. But beyond that, you need to understand how users in these countries consume products differently.

“For instance, in Africa, P2P trading is the most popular crypto product, not spot trading. This is a crucial insight because it informs how we market and position our products.”

At Bitget, the focus is on user lifecycle management, partnerships, campaigns, community engagement, social media, and performance marketing. Everything comes together in one strategy that’s tailored to each market.

Another key challenge in the crypto space is cashing out. Many agents in Africa try to offer bad pricing, and users are left with limited options for withdrawing their funds. This issue is a challenge that crypto exchanges must address, as it directly impacts user satisfaction.

While that is the case, Bitget listens to users and responds quickly in Africa, which enables faster decision-making and more dynamic campaigns. This responsiveness is a huge advantage for smaller exchanges.

“At Bitget, we’re able to act quickly on user feedback and launch innovative features faster, making it easier for users to access tokens before they hit the mainstream markets.”

Final Thoughts

Finally, Mathendu offers some advice for building a career or investing in crypto, which is broken down based on access to funds and time.

If You Have Funds and Time to Trade:

Dive into the market and learn about narratives and trends. For example, if Solana or Phantom ecosystems are trending, keep an eye on their top coins.
You can actively trade based on these narratives, which allows you to leverage short-term opportunities.

If You Have Funds but Limited Time:

Focus on long-term investment strategies. Identify the top 10 market movers and key narratives like gaming, AI, or V-chips.
Create a diversified portfolio and dollar-cost average (DCA) your investments. This means you’ll consistently invest a set amount over time, regardless of market fluctuations.
For instance, if you’re allocating $10,000–$50,000, divide it over 365 days, so you’re buying small amounts daily. This approach benefits from the saying, “Time in the market is greater than timing the market.”
Some exchanges, like Bitget, offer an auto-invest feature that lets you set up automatic purchases of specific tokens every day. Plus, your funds can earn flexible interest even as they’re invested.

If You Have No Funds and No Time

Crypto trading or investing may not be suitable for you at this stage.

If You Have Time but No Funds:

Look into airdrops, which are free token giveaways for completing small tasks. Projects like zkSync often offer significant airdrops, and it can be a great way to earn money. For example, a friend recently received an airdrop worth $40,000.

For investors: DCA in and out of the market with a clear strategy. For enthusiasts, airdrops can be a valuable way to get started without funds.