How to Buy Bitcoin in Kenya in 2021

Mar 10, 2021 | Bitcoin101 | 0 comments

Bitcoin is undeniably a hot topic at the moment, especially considering it has increased in value by 912% in just one year. It’s about time you invested in this digital gold and joined the masses making incredible gains. Thankfully with Bitcoin you don’t need to invest 5,482,500 KES to enter the market, due to the nature of Bitcoin it can be broken down into a hundred million pieces, also known as a Satoshi: 0.00000001 BTC. In this how to buy Bitcoin in Kenya in 2021 guide we’ll show you the easiest ways to buy BTC with bank transfer, credit / debit card, and with a local payment processor. 

How To Buy Bitcoin Via Bank Transfer – Kraken

Kraken is a highly reputable exchange in the cryptocurrency industry, not only because it is one of the oldest (the platform launched in 2011) but also because it has been rated one of the safest exchanges when it comes to data security and crypto. The platform caters to customers in 176 countries around the world and offers low fees and high speed transactions. With over 40 cryptocurrencies to choose from, the platform charges a 0.25% takers fee and between 0% to 0.1% makers fee depending on trade volume.

In order to buy Bitcoin via bank transfer you will need to create an account on the platform. Once you’re registered, verify your identity with the documents requested (the more you want to trade the more information you will need to provide). When you’re ready choose the Funding option in the top menu and select Deposit next to the relevant currency. You will then be directed to a page where you can select your preferred bank, and will find all the information needed pertaining to that specific bank – including your reference number which is NB. You will then need to log into your bank account and make the transfer using your unique reference number. Once the transaction has been completed, the funds will appear in your Kraken account balance which you can now use to buy BTC. Simply select Buy Crypto and then Bitcoin. Enter the amount you would like to purchase, from which wallet to take the funds, and complete the transaction.

How To Buy Bitcoin Via Credit / Debit Card – Coinmama

Coinmama is the perfect platform to buy Bitcoin via credit / debit card, especially for new users. Their focus is on excellent customer service and support, and the interface certainly reflects this. The platform has been operating since 2013 and has grown to serve over 2 million customers in 188 countries. With a number of cryptocurrencies available to buy and sell, the platform facilitates credit / debit card payments with any Visa or Mastercard.

In order to buy Bitcoin on Coinmama, you will need to register an account and complete a simple yet thorough KYC verification. The verification takes under 30 minutes, after which you can get straight into buying the original and biggest cryptocurrency. While the fees are relatively high (5.9%), the overall experience justifies the little extra you will be paying. When you’re verified, select Buy and select Bitcoin from the drop down menu of cryptocurrency options. You can either select a predetermined amount or enter your own. Note that prices will be reflected in USD. You’ll then be asked to enter your Bitcoin wallet address and select a payment method. In this case, select Credit / Debit Card and enter your details. It’s worth noting that bank transfers incur less costs however the rate is locked in only when funds are received. You will then receive a confirmation email, and the coins will be deposited as soon as the transaction clears.

How To Buy Bitcoin With A Local Payment Processor – LocalBitcoins.com

Using Safricom’s mobile payment service M-Pesa, we will be covering how to buy Bitcoin with a local payment processor using LocalBitcoins. The popular peer to peer crypto trading service connects buyers to sellers in the area, making use of the local currency so that no one needs to be concerned about conversion charges or foreign currencies. By using a local trader prices are sometimes more competitive than a big exchange, and the process faster (depending on the payment method). The platform also offers an escrow service ensuring the integrity of both the trade and the traders. 

To buy Bitcoin using M-Pesa you will need to open an account on the platform. Once you are registered, browse the home page or specific Buy page with all the ads. You can see the traders name and reputation at first glance, or you can go into their profile for a more thorough view and breakdown of their specific buying rules (each trader is slightly different). When you have found a Buy offer that you are interested in, select Buy and read all the terms and conditions. Enter the amount you would like to purchase and select “Accept terms and send trade request” to initiate the trade. Once you have paid using the criteria provided, select “I Have Paid” and wait for the seller to confirm they have received the funds. After this the Bitcoin will be released from escrow and deposited into your wallet.

How to Buy Bitcoin in Kenya in 2021

Congratulations on completing this guide and welcome to the wonderful new world of cryptocurrencies! To learn more and stay informed make sure to keep an eye on our Bitcoin 101 section where we cover everything from what is Bitcoin to what the best types of wallets are, to the latest news dissected and presented in an easy to understand manner. 

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