Where to buy cryptocurrencies in Kenya

After the closure of LocalBitcoins, many Kenyans are finding it difficult to find a LocalBitcoins alternative where they can easily buy and sell cryptocurrencies using payment methods like Mpesa and PayPal.

In this article, we shall look at the best crypto exchanges to buy cryptocurrencies in Kenya.

Buying crypto in Kenya

Here are some of the best cryptocurrency exchanges where you can buy Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Shiba Inu (SHIB), USD Coin (USDC), and Dogecoin (DOGE) among other cryptocurrencies in Kenya.

  • Paxful

Well, Paxful stands out since it offers a peer-to-peer crypto trading platform that allows users to purchase cryptocurrencies using a very wide variety of payment methods including Mpesa, and PayPal.

Paxful supports over 350 payment methods, making it one of the top choices in Africa, Southeast Asia region, the USA, Canada, and Europe. Besides, it is based in New York, USA where the crypto space is quite regulated.

Paxful
Paxful dashboard

Paxful offers more than LocalBitcoins since Kenyans can purchase and sell more than just bitcoins on Paxful in just a number of clicks. You can buy and sell Bitcoin, Tether, and USD Coin on Paxful.

The onboarding process is also very simple since it only requires a user to create an account and verify their phone number and email to start buying and selling crypto.

Its only limitation is that it only supports 3 cryptocurrencies, BTC, USDT, and USDC, although it makes up for it by offering low fees and very high liquidity.

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  • Coinbase

Coinbase is another US-based cryptocurrency exchange that Kenyan crypto traders can rely on. However, contrary to Paxful, Coinbase is not a P2P crypto exchange but a centralized crypto exchange.

Coinbase Co. Ltd., the company that manages the Coinbase crypto exchange is also a publicly traded company listed in the NASDAQ securities exchange in the USA. This makes it among the few well-regulated crypto exchange around the world where the crypto space is poorly regulated.

Coinbase allows crypto traders to buy, sell, trade, and store cryptocurrencies. Besides, offering a trading platform, it also offers a personal online wallet where users can choose to store their crypto assets away from the exchange wallet.

coinbase
Coinbase dashboard

The only limitation for Kenyan crypto traders using Coinbase is that they can only buy crypto using their credit and debit cards.

Coinbase does not allow the use of online wallets or mobile transfers like Mpesa. On the bright side, however, Coinbase supports more than 100 cryptocurrencies including Bitcoin, Ethereum, Tether, Cardano, Bitcoin Cash, and Litecoin.

Conclusion

Choosing a cryptocurrency exchange to use in Kenya isn’t that easy, given all the options out there and the different features each of them offers. However, one of the most attractive features that Kenyans look for is the ability to use Mpesa to buy and sell cryptocurrencies in the comfort of their homes, offices or on the go.

The above two crypto exchanges are just our best picks for where to buy cryptocurrencies in Kenya. There are probably many other options out there and the list could be long.

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