M-Pesa is a Kenyan mobile banking service that allows users to store and transfer money through an app on their mobile phones. It allows people in Kenya to have access to the financial services they need. Kenyans can use their M-Pesa accounts to buy Bitcoin (BTC) on Paxful, the world’s leading people-powered marketplace.
How To Buy Bitcoin In Kenya With Mpesa
- Create a Paxful account Sign up for a Paxful account and claim your free Bitcoin wallet when you finish!
- Search for an offer pick M-Pesa as your preferred payment method and click Show Offers. You should then see a list of all the available Bitcoin vendors that accept M-Pesa. Take a look at the details of each offer and pick one that works for you. When you find one you like, click Buy and you’ll be redirected to the individual offer page, where you can get a quick overview of the trade. When you’re ready to trade, enter how much BTC you want to buy and then click Buy now.
- Send your payment once the trade starts, and you’ll receive a detailed set of instructions on how to pay your vendor. After sending your payment, make sure that you mark your trade as Paid so that it doesn’t expire. Give your trade partner a few moments to verify the payment. Once verified, they’ll release the Bitcoin from our secure escrow service into your Paxful wallet, and the trade will be complete.
Once you get the hang of buying BTC with M-Pesa, you can start exploring other payments on the platform.
How to Withdraw Bitcoins to M-Pesa
To withdraw BTC to M-Pesa, you will first need to convert it to Kenya Shillings. Converting bitcoins requires you to sell off your bitcoins to a buyer who deals in M-Pesa. You can convert bitcoin to M-Pesa by selling your bitcoin on the exchange platform you bought your crypto from.
How to Convert Bitcoin to M-Pesa on LocalBitcoins
Log in or create a Localbitcoins account and transfer BTC to your Localbitcoins wallet. Then, go to the main page and click “Quick Sell”. Thereafter, enter the amount you want to sell and select M-Pesa as the payment method. A list of offers will be displayed for you to study. Click on “Sell” to view more information like the terms of trade. Upon finding a buyer, input the amount you want to sell and send a trade request to initiate the deal. Localbitcoins will move your bitcoin from your wallet to escrow. Then, send your M-Pesa details to the buyer and wait for a confirmation from the buyer that they have sent the payment. After verifying the payment, click “Release Bitcoins” and the BTC will move from escrow to the buyer’s wallet.
How to Convert Bitcoin to M-Pesa on LocalCryptos
Create an account or log in to your existing LocalCryptos account. Transfer BTC to LocalCryptos and search for a suitable buyer. Once you find a buyer, open a trade and enter the amount you want to sell and lock in the price. The buyer will receive a notification alerting them of the trade. Then, move your BTC to the decentralized escrow. This will start a countdown timer telling the buyer how long they have to make the payment. Then, send your payment details to the buyer who will send the payment to your M-Pesa account. The buyer will then click on “Mark As Paid” to confirm payment. Release the bitcoin to the buyer after confirming payment.