How To Buy Bitcoin in Kenya?
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Easiest and cheapest ways to buy crypto in Kenya
Getting bitcoins in Kenya is not an easy task as not all popular crypto exchanges are available to Kenyan citizens. This is a current list of bitcoin exchanges that allow users from Kenya to buy crypto. They all support buying crypto with credit/debit cards but some of them offer other payment methods as well.
Also, the exchange supports over 230 countries including Kenya, Ghana, Cameroon, Nigeria, and Chad.
Deposit fees:
Free Withdrawal fees:
None Trading fees:
N/A Payment Methods:
EUR Bank Transfer, MasterCard, MTN Mobile Money, Orange Money, US Bank Transfer, or VISA Supported fiat:
USD, XAF, GHS, KES, UGX, RWF, ZMW, NGN
Various payment methods
Supports many countries
instant buy/sell (no registration needed)
Supports only BTC
Deposit fees:
EUR SEPA Deposit (Free) – EEA countries only USD Bank Wire Deposit ($5 USD) – US onlyEUR Bank Wire Deposit (€10) – outside the US only USD Bank Wire Deposit ($10 USD) – outside US onlyJPY Bank deposit (Free, ¥5,000 deposit minimum) – Japan-only USD, Wire Deposit (Free) Withdrawal fees:
Cryptocurrency: Fees vary, SEPA Withdrawal (€0.09) – EEA countries only USD Bank Wire Withdrawal ($5 USD) – US only USD Bank Wire Withdrawal ($60 USD) – outside US onlyEUR Bank Wire Withdrawal (€60) – outside US onlyJPY Bank withdrawal (¥20) – Japan onlyCAD EFT Withdrawal ($10 CAD) Trading fees:
Maker: 0.16%Taker: 0.28% Payment Methods:
Fedwire, Bank Transfer (SEPA), SWIFT, Wire Transfer, Etana Custody, Silvergate Exchange Network (SEN), FPS, CHAPS, and BACS, PayID, Osko Supported fiat:
USD, EUR, GBP, JPY, CAD
Available almost worldwide
Longevity on the crypto market – highly respected exchange
Over 90 cryptocurrencies
Advanced trading and staking services
Fees are fairly high compared to its main competitors
No derivates or futures trading
Binance
Ease of Use – Medium Fees – Low Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP, AUD, RUB
Binance was launched back in July of 2017 and very quickly became the world’s largest cryptocurrency exchange by trading volume with more than $1 billion on a daily basis.
More info +
Deposit fees:
Free Withdrawal fees:
Vary from crypto to crypto Trading fees:
0.1% Payment Methods:
Debit Card, Credit Card, SWIFT, Bank Transfer (SEPA), and more Supported fiat:
USD, EUR, GBP, AUD, RUB, and 15+ more
The largest cryptocurrency platform
Various advanced services and features
Low fees and high liquidity
A large number of cryptocurrencies supported
Not fully registered
Hacked in 2019
Best Bitcoin Wallets in Kenya
It is never a good idea to keep your coins on an exchange as that exposes you to numerous risks (exchange hacks, fund freezes by the exchange or some government regulatory body, etc). That is why you should use one of the wallets we list below to store your digital assets. The safest option is a hardware wallet like Nano X but ZenGo is also a good choice, especially for newcomers.
ZenGo is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes less than 20 seconds.
extremely safe as it uses biometrics for security
you can buy crypto directly from it
has savings and staking account
No major flaws
Electrum is one of the oldest and most popular desktop multi-currency wallets which is compatible with Windows, Mac, and Linux
One of the oldest wallets in the market
you can buy and stake directly from the wallet
supports all major coins and blockchains
Not completely open source
Ledger Nano X is a leading and most secure cold storage wallet that connects to your device via Bluetooth.
Safest wallet in the market
competitive price
supports a lot of coins
you can buy directly from the wallet
stake directly from the wallet
Small display
complicated to setup for newbies
Read also:
- How To Buy Bitcoin in Zimbabwe?
- How To Buy Bitcoin in Albania?
- How To Buy Bitcoin in Bangladesh?
- How To Buy Bitcoin in Jamaica?
Cex.io
Ease of Use – Easy Fees – High Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP, RUB
Cex.io is considered one of the oldest exchanges in the crypto world. It was launched in 2013. It started as a Bitcoin exchange and cloud mining provider, but today it is a global multi-functional crypto platform with over 4 million users.
More info +
Deposit fees:
0 – 3.99 % Withdrawal fees:
0 – 3 % Trading fees:
0 – 0.25 % Payment Methods:
Credit Card, Bank transfer, ACH, Epay, Skrill, SEPA, Faster Payments Supported fiat:
USD, EUR, GBP, RUB
Reputation is high
Longevity on the crypto market
Over 4 million users
Advanced features such as spot trading, margin trading, staking as a service, crypto loans, and savings accounts
Extensive Verification Process to Increase Purchasing Limits
Paxful
Ease of Use – Easy Fees – Average Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP, CAD, AUD + more
Paxful is “the Uber of the Bitcoin”. It is a crypto exchange based in the US that has over 200 employees. Paxful was launched back in 2015 so it has been around for quite some time now. The founders of Paxful are Artur Schaback and Ray Youssef.
More info +
Deposit fees:
Free Withdrawal fees:
0.5% – 5% Trading fees:
No buyer fee, seller fee varies from 0.5% to 5% Payment Methods:
Over 350 payment methods are available Supported fiat:
USD, EUR, GBP, CAD, AUD, and many more
An incredible number of payment methods
Easy-to-use platform
Available in more than 180 countries
Security is on a high level
No trading features
It is not regulated
Coinmama
Ease of Use – Easy Fees – High Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP, CAD, AUD
If you would like to talk about one of the oldest exchanges in the crypto world then Coinmama is for sure the one. The exchange was launched in 2013 by Laurence Newman, Nimrod Gruber, and Ilan Schuster. Slovakia is the country where you will find Coinmama’s headquarters.
More info +
Deposit fees:
0 – 5 % Withdrawal fees:
None Trading fees:
2.9 – 3.9 % Payment Methods:
Bank Transfer (SEPA), SWIFT, Fedwire, Bank cards, Open Banking, Google Pay, Apple Pay, Skrill Supported fiat:
USD, EUR, GBP, CAD, AUD
Beginner-friendly interface
Available almost worldwide
Various ways to deposit
Simple to use
No withdrawal fee
No mobile app and no staking
No phone number for customer support
Frequently asked questions about buying Bitcoin in Kenya
Cryptocurrencies currently operate as unregulated digital money in Kenya even though they are accepted and used by the virtual community.
Domestic and international money transfer services in Kenya are regulated by the Central Bank of Kenya Act and other legislation. CBK reiterates that Bitcoin and similar products are not legal tenders nor are they regulated in Kenya.
Yes, you can do it from Paxful exchange.
Here’s how to invest in Bitcoin, in 5 easy steps:
1. Join a Bitcoin Exchange.
2. Get a Bitcoin Wallet.
3. Connect Your Wallet to a Bank Account.
4. Place Your Bitcoin Order.
5. Manage Your Bitcoin Investments.
Recently Kenya has introduced a BTM (Bitcoin ATM) in its capital Nairobi but no mechanism allows the conversion of fiat currency into cryptocurrency. As of now, The BTM supports a minimum value of 500 Kenyan Shillings against any cryptocurrency such as Litecoin and Bitcoin.
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