Bitcoin is a digital currency asset that is not under the control of financial institutions or bodies. When you want to buy bitcoin in Kenya, it is strongly advised to use a secure exchange such as Yellow Card. Since we are dealing with your money, security is of utmost importance.
How To Buy Bitcoin Kenya
Bitcoin is a cryptocurrency that is based on Blockchain technology.
1. Create an account. I suggest using Lastpass Password Manager when creating a password. It saves you the trouble of remembering the password and your password will be very strong. All good trading platforms will have two-factor authentication for additional security so make sure you have your phone with you.
2. After verification, you will have an account.
3. Some wallets require further verification so check your profile and see what’s needed to complete your sign-up.
4. As you go through your profile, you can attach your card or bank account to the site. I suggest using a pre-paid card.
5. After that, I suggest going through whatever tutorial the platform offers you. It takes just one mistake to lose a lot of money. Be thorough.
6. Depending on your platform you should now be able to buy Bitcoin. I repeat, go through all tutorials.
How do I buy Bitcoin with Mpesain Kenya?
Sign up for a Paxful account – Create and verify your account to get your free Bitcoin wallet with 2FA security. Setting your account up is easy and can be done in minutes. All you need is a valid email address, phone number, and ID to get started. Find a vendor – Click Buy from the main menu and select Buy Bitcoin.
How can I convert Bitcoin to cash in Kenya?
- Create an account on Paxful
- Next, transfer your bitcoin from your personal wallet to the platform wallet
- Go to sell bitcoin to search for available offers
- Select your preferred payment method
- Enter your currency and the amount you want to trade
Is Bitcoin Legal in Kenya?
The Central Bank of Kenya (CBK) had issued several warnings, but trading in crypto assets in the East African country has not been criminalised, meaning you trade in it at your risk. As such, cryptocurrency is still allowed in Kenya.