Best Bitcoin Exchanges In Kenya

What is Bitcoin?

Bitcoin (BTC) is a cryptocurrency, a virtual currency designed to act as money and a form of payment outside the control of any one person, group, or entity, thus removing the need for third-party involvement in financial transactions.

It is rewarded to blockchain miners for the work done to verify transactions and can be purchased on several exchanges.

Best Bitcoin Exchanges In Kenya

1. eToro. Best for beginners, copy-trading & demo-account

We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.

2. Skilling. Best app for mobile trading

We love Skilling because it’s a beginner-friendly platform that makes commodity trading accessible to everyone. You can trade 55 cryptocurrencies on Skilling and the system is very portable, so you can access it from the app or on your desktop. 

One of Skilling’s best features is its compatibility with TradingView, so you can chart trading ideas and then send them directly to your trading account. It also boasts plenty of other user-friendly software to make it easy to trade from your phone or your browser, including its proprietary Skilling Trader and the cTrader platform for professionals.

3. Binance. Best crypto platform for trading altcoins

We love Binance because it’s the largest crypto platform in the world. More than 30 million people use Binance to trade 350+ cryptocurrencies. Binance also offers a range of other services, such as staking, crypto loans, and derivatives markets such as futures and options.

The Binance app is designed to appeal to everyone, regardless of your experience. The ‘Lite’ version slims everything down to the basics, while the regular app is one of the most advanced crypto trading platforms out there. 

The fees: There are no fees for trading Bitcoin. All other cryptocurrency spot trades come with a 0.1% fee. If you own Binance coin (BNB), you receive a 25% discount on all trading fees. Binance does not charge deposit fees but withdrawal fees are variable depending on the crypto.

4. AvaTrade. Best regulated broker for secure trading

We love AvaTrade because it offers powerful trading software to anyone who wants to trade professionally. AvaTrade is a CFD broker where you can trade more than 800 markets, including forex, stocks, commodities, indices, ETFs, bonds, and cryptocurrency.  

AvaTrade integrates with trading software like MetaTrader 4 and 5 and boasts its own bespoke and award-winning mobile app software, AvaTradeGo. AvaTrade has been around since 2006 and is extensively regulated in Europe, Australia, Japan, British Virgin Islands, UAE, and South Africa.

The fees: There is no commission on any trading. AvaTrade makes money from the Bid/Ask spread instead. Stock spreads start from 0.13 and forex spreads start at 0.7 pips. Positions left overnight are charged a swap fee that varies depending on size. 

5. Exness. Best for tight spreads and a pro-style trading experience.

We love Exness because it offers tight-spread trading and a bespoke trading experience. Exness offers 35+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.

Exness offers a great range of pro-style trading tools and a variety of account types to suit all experience levels. Beginners can take advantage of a free demo account or micro-lots for low minimum trades, while more experienced traders can use the Exness terminal or plug it into the MetaTrader software and trade from there.

The fees: Standard accounts aren’t charged a commission but are charged through the spread. Spreads start from 7 pips on cryptocurrencies but may be considerably higher. Overnight fees apply on some assets (exc. swap-free accounts).

6. OKX. Best for futures and margin trading

We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, the Web option for NFT traders, or the Pro version for a plethora of trading tools. 

From an app or desktop, you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.

The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. 

7. Coinbase. Best secure trading platform for all types of trader

We love Coinbase because it’s the leading public crypto platform. Coinbase offers more than 170 cryptocurrencies to trade, a secure wallet to store your coins in, and automatic staking rewards on 10+ cryptos through Coinbase Earn.

A public company brings transparency and renown, so you can trust that any money on Coinbase is safe and you’re sharing the platform with over 100 million other users. There is insurance on all cash balances up to $250,000 and the majority of assets are stored offline in cold storage.

The fees: Trading fees start from 0.6% but reduce the higher your trading volume. Bank transfer deposits and withdrawals are free, other payment methods may be charged. There is no fee for wallet-to-wallet crypto transactions but you will have to pay blockchain fees. Coinbase charges a 25% fee for its staking services.

Which is the best crypto exchange in Kenya?

The best crypto exchange for day trading in Kenya is Kraken, since it has low trading fees, tight spreads, and its prices update multiple times per second, giving day traders an upper hand over the rest of the market.

Where is the best place to buy Bitcoin in Kenya?

Most Popular Bitcoin Exchanges in Kenya

  • Popular. Binance is the most popular Bitcoin exchange in Kenya with 90,000,000 users.
  • User-friendly. Kraken allows buying and selling Bitcoin with 3 forms of payment.
  • All Around. Coinmama accepts users and payments from 189 countries.

Which Bitcoin app works in Kenya?

Binance P2P is a secure and reliable platform for buying and selling cryptocurrency in Kenya. To buy crypto on Binance P2P, you need to create an account, verify your identity, and select a seller with a good reputation.

Is Bitcoin legal in Kenya?

Currently, the Kenyan government does not recognize crypto as a legal tender, and has in the past sternly warned that they are unregulated, highly speculative, and volatile, which puts them at great risk of losing value.