Best Crypto Exchange in Kenya (Updated 2020)
Kenya is one of the best technology country in Africa. The country also wants to be the capital of Africa’s digital economy.
Kenya has been very welcome to blockchain and crypto assets, so that people in Kenya will not find a very much difficulties to get access and able to purchase bitcoin.
According to our latest research, the best way to buy Bitcoin in Kenya is through CoinDirect and Binance
There are also several recommended crypto exchange in Kenya where we can trade Bitcoin and other cryptocurrencies, but some of the best and most recommended platforms are as follows…
10 Best Crypto Exchange in Kenya
1. CoinDirect
Rating:
★★★★★
Website:
CEO:
Stephen Young
Headquarters:
Isle of Man, United Kingdom
Founders:
Attila Bernariusz, Donald Jackson, Jesse Hemson-Struthers, Nic Haralambous, Stephen Young
Founded:
2017
Coindirect exchange provides its users with a peer-to-peer platform that allows them to quickly purchase and sell digital currencies using local currencies. Coindirect is initially located in South Africa, enabling users to use every local currency to exchange cryptocurrencies with more than 42 cryptocurrencies. These vary from the more common ones such as Bitcoin ( BTC), Ethereum ( ETH) to the lesser known Dash, Litecoin ( LTC) and Dogecoin (DOGE).
Their main goal is to resolve the uncertainty in most African fiat currencies that display scarcity, weakness and lack of governance. As a consequence, it can be seen that the Coindirect team is committed to supplying customers with a service that is sure to function.
Coindirect treats stability as one of its high priorities, as registered by the Isle of Man Financial Regulation Board, thus employing the same security measure used by banks. In addition, coins are passed to a third party location (scrow) before the transaction has been completed in full.
Coindirect Exchange provides its users an easy-to-use interface to control the amount of wallets they want to hold on their account, while the initial account comes with default wallets for Bitcoin , Ethereum, and Tether. Another advantage of using Coindirect Exchange is that by recommending it to additional buyers, you are given a 20 % commission on every potential client, either the consumer or the seller. However, it is suggested that they have larger trade rates in the latter group.
Another feature of coindirect is the clarity conferred by the minimum conversion fees, which are no more than 0.25%. There is no manufacturer, whereas there is just one per cent of the fee for the taker. As far as card payments are concerned, they are 2% for Nigeria, while the charge is 4% for the rest of the country.
Pros
· Multiple payment options
· Extensive pairs cryptocurrencies pairs
· International support
Cons
· Low exchange volume
· Less known by not-Africans
· Pretty high fees
2. Binance
Rating:
★★★★★
Website:
CEO:
Changpeng Zhao
Headquarters:
Malta, the European Union
Founders:
Changpeng Zhao, Yi He
Founded:
2017
One of the big exchanges for traders with experience who are
Binance is looking for the leading crypto-currency exchange for real-time trade.
There are several methodologies and pairs with over 150 available cryptocurrencies,
Accessible for both beginners and experienced traders within a single dominant trading network. There is a trading spot, margin, and future at Binance. Binance accepts deposits in more than 50 + currencies, including US dollars, EUR, JPY, KRW, GBP, AUD, RUB, and more.
Not only will they let you exchange leverage/margin cryptocurrencies, but they do not ask you to check your account. This means that without providing information such as your ID card (CNIC for Kenyais), or passport details, you can deposit, exchange, and withdraw your cryptocurrencies to and from Binance. Other crypto exchanges usually require you to upload copies of your ID card or passport to verify you before allowing you to trade or even deposit cryptocurrencies in their Wallets for digital.
Pros
· Trustworthy management
· High exchange volume
· Low fees
· A wide number of pairs of cryptocurrencies
· International support
Cons
· Few payment options
3. CEX.IO
Rating:
★★★★★
Website:
CEO:
Oleksandr Lutskevych
Headquarters:
London, United Kingdom
Founders:
Oleksandr Lutskevych, Dmytro Kalynovskyi, Victoria Polyakova, Peter Ivanov
Founded:
2013
CEX.IO is a multifunctional exchange of crypto-currencies. Trusted by millions of customers worldwide, it allows customers to seamlessly browse Bitcoin with a credit card or debit card. Among the many websites providing Bitcoin trading services, the positive reputation of CEX.IO is worth the confidence of consumers around the world. To date, CEX.IO has more than 3,000,000 customers, which proves that it’s a trustworthy platform. By conducting your bitcoin trading on a decreased cognitive site, you will benefit from a deep understanding of your clients’ market and needs.
CEX.IO is contemplating the launch of new cryptocurrencies daily, which has not been the case for Dash, Zcash, and Bitcoin Cash for too long. However, a detailed search must be passed on to the list by a certain cryptocurrency. Our due diligence and concern about the quality of the service have shown efficacy.
To attain the title of the best cryptocurrency exchange, we are now moving ahead. CEX.IO has many payment options (SWIFT, SEPA, ACH, Quicker Payments), 24/7 customer service, and proven platform reliability. Deposits in USD, EUR, GBP, and RUB are recognized by CEX.IO.
Pros
· Proven and trustable
· Globally sponsored
· Low fees
· Quick payments by credit card
· The tidy interface of the user
Cons
· Procedure for verification needs private information
· Long time for verification
4. Kraken
Rating:
★★★★★
Website:
CEO:
Jesse Powell
Headquarters:
San Francisco, California
Founders:
Jesse Powell
Founded:
2011
In terms of increased volume and liquidity, Kraken is the world’s largest Bitcoin exchange and embraces almost any bank or wire transfer form as a financing source. Kraken Pro supplies individual investors with real-time trading and charting tools. USD, EUR, CAD, GBP, JPY, and CHF deposits are approved by Kraken.
Kraken is the first exchange to display its Bloomberg Terminal market data, pass a cryptographically verifiable proof-of-reserve audit, and introduce leveraged margin trading as one of the first exchanges. Cryptocurrency Financing, the Digital Currency Community, Hummingbird Ventures, and the Money Partners Group are Kraken’s supporters.
Pros
· Respectful reputation
· International support Worldwide support
· Reliable service for customers
· Tiered Validation
· Affordable fees
Cons
· Few forms of payment
· Sophisticated user interface
Rating
★★★★
Website:
CEO:
Sagi Bakshi
Headquarters:
Israel
Founders:
Laurence Newman, Nimrod Gruber, Ilan Schuster
Founded:
2013
Customer service:
Coinmama is one of the world’s most popular exchanges and specializes in instantly selling bitcoin and cryptocurrencies with a credit card or bank transfer. All currencies are recognized by Coinmama, including USD, EUR, GBP, CAD, AUD, and JPY.
Since the genesis, over 2,300,000 individuals in 197 countries have trusted Coinmama. Coinmama was also among the first to promote Bitcoin’s purchasing with credit and debit cards, having been introduced back in 2013. Since the early years, Coinmama has continued introducing cryptos to its offering, not to mention alternative payment methods.
Pros
· Globally available
· Strong restrictions on sales
· Reliable and reliable
· Outstanding leadership and customer service
· Speedy and secure transactions
Cons
· When shopping with a credit card or debit card, high fees
· Retardation of processing time
Rating
★★★★★
Website:
CEO:
Ray Youssef
Headquarters:
New York, New York
Founders:
Ray Youssef, Artur Schaback
Founded:
2015
Paxful is a peer-to-peer marketplace supporting over 300 types of payment. Paxful is the best place in Kenya to purchase Bitcoin instantly using any payment form. You can now exchange your Bitcoin in a fast, simple, and fairway provided by Paxful for any payment method.
Invest easily and smoothly in bitcoin. With over 300 ways to pay for Bitcoin, including bank transfers, gift cards, Paypal, Western Union, Moneygram, personal debit/credit cards, and more, Paxful tends to be the easiest place to buy, sell and submit Bitcoin. Paxful allows vendors in all currencies to build deals.
Pros
· Escrow scheme
· Safety
· Diverse methods of payment
· Easy UI (user interface)
· Wide range of sellers
Cons
· Purchasers and vendors are at risk of being scammed.
7. BISQ Network
Rating:
★★★★★
Website:
CEO:
Manfred Karrer
Headquarters:
Barcelona, Catalonia, Spain
Founders:
Manfred Karrer
Founded:
2014
Bitsquare is a peer-to-peer technology that allows users to buy and sell bitcoins and exchange them for other altcoins and fiat currencies. If you value your privacy as a trader, Bitsquare is the perfect trading platform for bitcoin, especially if you want to remain anonymous. In all national fiat currencies, Bitsquare users may buy and sell Bitcoin.
In return for other crypto-currencies or national (fiat) currencies, you can buy or sell Bitcoin. For instance, it is possible to exchange ether (the Ethereum crypto-currency) for bitcoin. You sell bitcoin if you want to buy the ether. You buy bitcoin if you want to sell the ether. Bitcoin is only on one side of a pair that is trade-able. You can’t swap Ether for Litecoin directly. You will need to convert bitcoin to bitcoin first if you want to sell bitcoin and buy ether. Go from bitcoin to the ether, then.
Pros
· Respectful reputation
· Internationally supported
· No registration needed
· Privacy Policy
· Ideal for seasoned traders
Cons
· Few forms of payment
· Not suited to beginners
8. Changelly
Rating:
★★★★
Website:
CEO:
Eric Benz
Headquarters:
Malta, the European Union
Founders:
Konstantin Gladych, Ilya Bere
Founded:
2015
Changelly allows one to use a bank card to swap one cryptocurrency for another and often shop. This is achieved through an easy and straightforward user interface and convenient email or social media account registration. The conversion method by Changelly is implemented in some of the largest networks of cryptocurrency, such as Poloniex, Bittrex, and Binance. The services offered by Changelly are not territorially limited so that it can be accessed from anywhere.
Changelly is a stable, reliable website for crypto exchange. The company continues to grow not only when it comes to adding new altcoins for individuals to trade in (there are 100 coins already) and the best customer experience for consumers.
Pros
· Quick
· Personal
· Low fees
· Elevated trade limits
· Support for 24/7 video chat
Cons
· Small types of payment
9. Local Bitcoins
Rating:
★★★★★
Website:
CEO:
Sebastian Sonntag
Headquarters:
Helsinki, Finland
Founders:
Nicholas Kangas, Jeremias Kangas
Founded:
2012
LocalBitcoins is a Bitcoin trading site for individuals that specializes in linking buyers and sellers. In all currencies, LocalBitcoins allows suppliers to make deals. A new verification platform is being introduced by LocalBitcoins. Four independent third-party accounts, distinguished by trade and transaction volume and a progressive regulatory structure, are included in the new verification process, Where customers gradually check their accounts as their behavior on the platform increases. To ensure that we already have a reliable and successful mechanism for verification.
Pros
· Accessible in all countries around the world,
· A varied array of buyers and vendors
· Supports several payment techniques
· Buyers get their Bitcoins easily,
· Personal
Cons
· Lack of diversity in crypto-currencies
· Sellers, as well as customers, both have a risk of being scammed.
How to Buy Bitcoin in Kenya?
There are many ways to buy Bitcoin and other cryptocurrencies in Kenya. All have a different process of buying from Different Platforms. You can buy Bitcoin from Crypto exchanges international and also local. You can also buy from the local person of Kenya by Cash in Hand Payment. Above, we discussed some Crypto Exchanges that can be used for trading and buying Bitcoin.
The following are some methods of buying Bitcoin with Platforms.
Let’s Discuss these platforms.
· Open the Localbitcoins website and press to register free of charge.
· After that, to build an account, you need to supply an email address and password.
· For a large purchase, a scanned copy of your CNIC needs to be uploaded.
· Click on Purchase Bitcoins after establishing an account.
· You can see a list of Bitcoin traders after that.
· Open the Binance app and click on the top left corner of [Login / Register].
· Follow the directions and enter the email address and password for your account that you will use.
· You’ll see a sliding jigsaw verification code after clicking on [Register].
· Pick p2p with the Kenya location option when you build an account. You’re going to get the traders’ list.
· Open a web browser and launch the website Paxful:
· On the top right corner of the main page, press Build Account.
· Click Build an account with Pax.
· Complete your verification with Captcha.
· Pick Deposit or Asset Purchase.
· The number of traders will be issued to you.
· Pick the payment form for the order.
Payment Methods
In Kenya, we will address the simplest way to pay and the quickest form of transaction with various ways to pay the seller.
1. Bank Transfer
2. Credit Card or Debit
3. ChipperCash
4. M-Pesa
5. Xendpay
For payment and the instant payout scheme, these provided methods are widely used. By these approaches, everybody feels comfortable to avoid additional tax on transactions.
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