What is a 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 Traders In Kenya
1. Paxful
Paxful is a crypto exchange with over 6 million active customers across the world. This platform supports over 350 payment methods, a feat that makes it one of the best crypto exchanges in Africa. You can sell your Bitcoin in Kenya on Paxful, which is one of the three cryptocurrencies (Bitcoin, Ethereum, and Tether) available on the platform.
Exchange fees on Paxful are relatively low with a selling fee of 0.5% and all the trades on the platform are secured with an escrow protocol.
2. Binance
Binance is currently the largest crypto trading platform in the world by its daily trading volume. This platform supports a wide range of cryptocurrencies and over 50 fiat currencies with features like sophisticated charting tools that a successful trading process.
You can sell Bitcoin in Kenya via Binance with a selling fee of 0.5% of your Bitcoin amount.
3. LocalBitcoins
LocalBitcoins is a top peer-to-peer (P2P) Bitcoin trading platform as it is a decentralized marketplace where you can buy and sell Bitcoin anywhere in the world. This platform has a strong security infrastructure that enables the safety of your Bitcoin on the crypto exchange.
Unlike every other crypto that charges a percentage of the Bitcoin amount, LocalBitcoins charges a fee of 0.00020001 BTC when you are selling your Bitcoin in Kenya.
4. BitPesa
BitPesa is a digital platform that leverages the power of blockchain technology to enable Africans to send and receive money from any part of the world. BitPesa is reputable for its low fees and fast transaction times with a wide range of payment options.
You can sell your Bitcoin on BitPesa and this platform will either convert the coin to the local currency of the recipient or the preferred cryptocurrency, as the case may be. The trading fee on this platform is 1%.
5. Remitano
Remitano is a P2P crypto exchange that enables the buying and selling of Bitcoin and other crypto assets. This platform is notable for its fast transaction time and simple user interface for its users.
The trading on Remitano is 1%, so you can easily sell your Bitcoin in Kenya even as this platform supports multiple cryptocurrencies.
6. Luno
Luno is one of the oldest Bitcoin exchanges and it is a crypto exchange that offers trading services in just Bitcoin and Ethereum. The trading fees of Luno are considered one of the most competitive in the crypto trading industry, as Luno charges a 1% trading fee for all its transactions.
In terms of security, Luno has put in place structures like deep freeze storage, encrypted backup wallets, multi-signature hot wallets, 2FA, and whatnot to safeguard the transactions taking place on the platform.
7. Coinmama
Coinmama is a crypto exchange on which you can buy and sell Bitcoin in Kenya. This is a platform that is beginner-friendly, meaning that newbies can easily use this platform to trade crypto.
Coinmama charges 0.9% when you sell your Bitcoin on the platform and the platform does not have a wallet for its users.
8. Bitzlato
Bitzlato is a new and user-friendly P2P platform that enables you to sell Bitcoin in Kenya. Apart from Bitcoin which this platform supports, it supports mostly Altcoins. You can sell your Bitcoin at low fees on Bitzlato.
9. Bit2Me
Bit2Me is the largest crypto exchange and asset in Spain. In turn, this platform is available for Kenyans to sell their Bitcoin. This platform has multi-layer model systems and cold security vaults that protect cryptocurrencies. Bit2Me has a wallet in which you can keep your Bitcoin and other cryptocurrencies that the platform supports.
10. Bitwala
Bitwala (now Nuri) is a blockchain banking service that enables SEPA and SWIFT money transfers by exchanging Bitcoin or Altcoins over a score of fiat currencies across the world. In this view, you can sell Bitcoin on this platform in Kenya to receive payment directly in Kenyan Shilling.
What is the name of Kenya’s Bitcoin wallet?
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.
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.