The world witnessed a new wave of change in the financial space called cryptocurrency, which became one of the biggest fintech innovations in history.
Bitcoin is the world’s first, most popular and most valuable cryptocurrency.
It was founded by an anonymous individual/group of individuals under the pseudonym Satoshi Nakamoto.
The good thing about bitcoin is that it’s a decentralized cryptocurrency not controlled by any central government or financial institution. Bitcoin uses blockchain technology to support user-to-peer transactions in a decentralized exchange.
Unlike fiat currencies, Bitcoin is quite volatile due to its decentralized nature. Hence, the bitcoin market is controlled by demand and supply.
However, you can consider bitcoin a high-value digital asset that will continue to appreciate with time. Of course, when it was invented in 2009, the value of one bitcoin was less than $1, but one bitcoin sold for almost $70,000 in 2021. Imagine how much it has appreciated over the years.
You can buy bitcoin from anywhere in the world, including in Kenya. All you need to do is research the best platforms to buy bitcoins in Kenya to avoid scams.
You may have saved yourself from such research by reading this article because it will show you the best platforms to buy bitcoin in Kenya and count yourself among the owners of the world’s biggest digital asset.
Top 10 Best Platforms To Buy Bitcoin in Kenya
1. LocalBitcoins:
LocalBitcoins is a peer-to-peer crypto trading platform based in Finland. It allows people to place ads for the buying and selling bitcoins on the platform while they give their trading terms and conditions, choose a payment method and set their rates.
LocalBitcoins is a big crypto trading company; more than 25,000 trades are carried out on the platform daily.
Pros
- It allows P2P bitcoin trading.
- There is a large variety of payment options.
- There are no buying and selling fees.
- It has a good reputation.
Cons
- There is a risk of a scam
- It requires private information for verification.
- It’s not available in most states.
- Only bitcoin is traded.
2. Paxful:
Paxful is another reliable P2P crypto trading platform where you can buy and sell Bitcoin among peers.
This platform allows users to advertise their bitcoin and set their price and terms of the trade, including payment method. Transactions on Paxful are secure by the escrow system and its high-security protocol.
Additionally, there are no extra fees for buying bitcoins on Paxful.
Pros
- Zero crypto buying fees
- Glossy user interface
- Wide variety of payment methods
Cons
- Difficulty in trading sometimes
- Limited support options
- Few crypto support
- Risk of scam
3. Binance:
I’m sure you have often heard about the Binance crypto trading platform. It is unarguably the biggest crypto exchange platform in the world, with more than 1 million trades daily.
Binance holds the record for the highest number of active users, liquidity and web traffic, according to the CoinMarketCap cryptocurrency portal.
The platform also invented its native cryptocoin called the Binance coin.
Pros
- Low fees
- Multiple available crypto pairs
- Both basic and advanced trade setups
- Educational resources
Cons
- The complex user interface may not be suitable for beginners.
- Has run into some troubles in some countries in the past.
4. Bitzlato:
It was formally known as ChangeBots before it was renamed Bitzlato. It is a modern and user-friendly peer-to-peer (P2P) crypto exchange in Russia. The platform allows users to trade some crypto. I’m using Bitcoin at zero commissions and intermediaries.
Bitzlato is also available as a regular exchange that supports over twenty crypto-to-crypto exchanges, allowing users to exchange their crypto at low rates.
Pros
- Low fees
- Wide payment methods variety
Cons
- Limited amount of crypto, especially altcoins.
- Not a well-known team and history.
5. Remitano:
Remitano is an escrowed peer-to-peer crypto platform where users can buy and sell crypto with crypto or fiat currency.
The platform offers users a secure environment to connect and facilitate their exchange. Users can fix their trade terms and conditions, payment methods and rates.
Pros
- Simple registration process
- Transparent fee structure
- Good customer support
Cons
- It is unregulated
- No demo account
6. Luno:
Luno is an online crypto trading platform that makes crypto trading easy and fun. The Luno platform has a small coin selection and few features, but it lives up to its motto, which says cryptocurrency is for everyone.
Luno has a unique, simple and friendly user interface, making it appealing to users.
Pros
- Good security protocol
- Fast verification
- Beginner-friendly crypto trading
- Added educational resources
Cons
- Limited features
- Just two cryptocurrencies are available
7. Bitpesa:
Bitpesa is another crypto platform you will love to buy Bitcoin from. It uses blockchain to lower the cost of businesses and increase their speed within and outside sub-Saharan Africa.
Bitpesa offers services to dozens of African bank networks and mobile money operators. This covers Kenya, Nigeria, Uganda, Tanzania, DRC and Senegal.
Pros
- Good security
- Excellent customer support
- User-friendly interface
Cons
- Quite slow sometimes
- Not available in most African countries
8. Coindirect:
Coindirect is a P2P marketplace and crypto exchange where people can easily and seamlessly buy and sell cryptocurrencies.
The platform seeks to leave the legacy of being the finest portal service for all traders by ensuring the quick and seamless trading of cryptocurrencies and tokens.
More than thirty digital currencies are listed on the platform, including XMR, EOS, IOTA, ETH, BTC, and TRON.
Pros
- A wide variety of crypto is available
- Transparent fee structure
- Low chances of scam
Cons
- The reputation is difficult to verify as there have been poor reviews from traders about dubious activities.
9. BuyCoins Africa:
This platform is another good crypto marketplace where you can buy Bitcoin.
BuyCoins platform supports major cryptocurrencies like Bitcoin, Ethereum, Litecoin, USD Coin, and USD Tether.
You can buy bitcoin through the platform’s P2P service or directly from the platform.
You can also download the mobile app available on both Android and iOS.
Pros
- Easily accessible
- Low trading fees
- Good and simple user interface
- It supports all the major cryptos
Cons
- Only available in Nigeria
10. Yellow Card:
Yellow Card is another good crypto exchange in which you can easily buy or sell supported cryptocurrencies with your local currency.
The only supported cryptocurrencies on Yellow Card are BTC, ETH and USDT.
Users are assured of the safety of their assets on this platform through a digital wallet that can be used to securely send, receive and store digital assets.
Pros
- Good security interface
- Zero trading fees
- Wide variety of payment options
Cons
- Limited amount of crypto available
Conclusion
Bitcoin has come to stay, and there’s likely no going back. It is the most valuable digital asset you can think of having in your digital wallet today, and you make some money from it.
You can buy bitcoin in Kenya from any of the above-listed platforms and join the league of bitcoin owners worldwide.
