What is Crypto?
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it
Best App To Trade Crypto In Kenya
1. eToro
n terms of cryptocurrency, eToro is a 100% crypto broker (at least for American traders, though others can trade stocks). The eToro app, which is compatible with both iOS and Android, connects traders to a plethora of different markets.
👉 The top ten digital assets by market cap are included, along with many more. You can buy and sell 63 different cryptocurrencies on eToro, including several that are not available on other brokerage applications like Tezos, Uniswap, and Polygon.
👉 The app does not take a cut of your total purchase price as some others do but instead adds a flat spread markup of 1% no matter what cryptocurrency you buy.
👉 In addition to supporting a broad number of crypto assets, eToro also allows deposits from a wide variety of payment methods, such as wire transfer, debit/credit card, and PayPal.
Fees
➡️ Commission-free
➡️ Mark-up of 1%
2. Bittrex
Bittrex is a popular cryptocurrency exchange due to its ease of use and cheap fee rates, especially for high-volume traders. Commissions range from 0.25% to 0.35% for trades totaling less than $50,000 per month but drop precipitously over that level.
 Additionally, Bittrex does not impose any fees on US Dollars or Automated Clearing House (ACH) deposits or withdrawals.
 Bittrex’s selection of over 330 different cryptocurrencies for trading is enough to please even the most ardent crypto fans. Bitcoin, Ethereum, and Dogecoin are all included, along with a slew of other, less well-known cryptocurrencies.
 When deciding on a cryptocurrency exchange, it is crucial to ensure that your funds are kept safe. Thankfully, Bittrex is top-notch in this regard.
3. Binance
Binance is a top cryptocurrency exchange because of how cheap its transactions are.
 There is a flat cost of 0.10%for traders who have transacted less than $50,000 in the last 30 days, and further reductions in fees for higher volume traders. There is also a 25% reduction in trading costs if you pay using Binance’s native currency, BNB.
 If you want to trade the most popular coins, you should not experience any problem doing so at Binance, where you can also trade 393 cryptocurrencies.
Fees
 There is a 25% discount when traders pay their fees using the native token BNB.
4. Coinbase
Coinbase is a specialist cryptocurrency exchange that permits the trading of 209 digital currencies as of the most recent count. This range will certainly satisfy your crypto craving, since it contains most of the popular currencies, including Bitcoin.
 Unfortunately, Coinbase has lately obscured the fee structure on its website, making it more difficult to determine how much you will pay to trade.
 When visible, the pricing structure was, to say the least, convoluted. You would pay a spread markup of around 0.5% plus a transaction charge based on the transaction amount and financing source.
 Fees for Coinbase Pro begin at 0.6% for transactions under $10,000, reduce to 0.15% for up to $100,000 in volume, and then continue to decrease.
 Coinbase’s Advanced Trade plan, which includes features like in-depth technical analysis and greater security, is priced for users with higher transaction volumes and higher risk tolerance.
 Coinbase Pro will be discontinued in the fourth quarter of 2023, and its capabilities will be migrated to Advanced Trade.
Fees
 The fees that Kenyans can expect are 1.99% on Coinbase and 0% – 0.60% on Coinbase Pro.
 There is a $2 account minimum.
5. Uphold
Uphold is a cryptocurrency platform that provides a vast array of financial goods and services to consumers in 184+ countries. It enables users to buy, sell, and exchange over 100 cryptocurrencies and other assets.
 Uphold provides a unique financial experience that distinguishes it from other cryptocurrency exchanges.
 Users may also acquire U.S. stocks and precious metals in addition to cryptocurrencies. Additionally, the platform enables you to trade between currencies without having to convert your assets back to cash.
 In addition to a unique trading experience, Uphold provides consumers with a cashback debit card that enables them to make payments using the platform’s assets.
 Kenyans could, for instance, opt to pay with crypto or fiat cash. In addition, Kenyans can easily trade on Uphold’s desktop platform or mobile applications, which are accessible for both Android and iOS.
 The user interface is straightforward for novice traders, giving it a viable alternative for individuals just starting started with cryptocurrencies.
Fees
 Uphold does not charge commissions.
 Uphold charges spreads from 0.8% to 1.2% for the most widely traded cryptocurrencies and much more for those with lesser liquidity. When market volatility is high, spread costs may rise.Â
Which crypto app works in Kenya?
There are 4 trusted exchanges operating in Kenya with the most popular being Binance, Kraken, and Coinmama.
How do I trade in cryptocurrency in Kenya?
You can use M-Pesa to buy Bitcoin in Kenya through the Binance P2P platform. In addition to BTC, you can also buy ETH, USDT, BNB, BUSD, EOS and more – all with zero transaction fees and in your local currency.
Which is the best crypto exchange in Kenya?
eToro is the best crypto exchange in Kenya. It offers low fees, top-tier security, and a large range of crypto coins to choose from.
How do I convert crypto to cash in Kenya?
To cash your cryptocurrency through a peer-to-peer exchange, pick a P2P platform, sign up for an account and choose the required location of your buyer. On these platforms, there are dedicated places to find and locate buyers and generate trade requests.