Kenya is one of the top countries known for trading cryptocurrencies in massive amounts. Undoubtedly, the rise of cryptocurrency has proven itself beneficial for those countries that are going through financial strain. Thanks to bitcoin, many African countries, including Kenya, have stabilized their economic conditions somewhat.
Bitcoin is one of the most commonly used cryptocurrencies in Kenya. Notably, more Kenyan residents have begun to switch to bitcoin since it’s a safer cryptocurrency than the others on the market. Not only that, recent research reveals that nearly 2.3% of Kenya’s GDP is maintained through Bitcoin.
The Process of Buying Crypto in Kenya
As mentioned above, one cryptocurrency widely bought and sold in Kenya is Bitcoin. It’s considered a revolutionary digital asset there, and more and more investors have begun to turn their time and attention to it, causing its adoption for trade to increase.
When buying Bitcoin, the most important thing you need to keep in mind is to purchase it on a crypto exchange with optimal security and the least possible fees to earn the most profit. Binance P2P is among one of the leading sites for crypto trading in Kenya. It allows investors to easily convert Kenyan Shilling into BTC and vice versa without worrying about safety or security.
Follow the steps below for those who are interested in buying Bitcoin in Kenya:
A Suitable Gadget
The first and most important requirement you must have before buying Bitcoin is to have a suitable gadget on hand. To get started, you can have any major gadgets, including an Android device, laptop, or desktop PC. Using your device, you only need to visit the crypto exchange’s website on a laptop or PC or download the app (if it has one) on your smartphone.
Registration
Next is the registration process, which you must do on trustworthy sites. This is a step you can’t skip because you won’t be able to enter the crypto world without creating an account first. You’ll need to register an account to start trading Bitcoin on your exchange of choice.
Level 2 Identity Verification
From there, you’ll need to undergo Level 2 identity verification to certify the high security of your sale or purchase. Once that’s done, you can choose among the different payment methods.
The Specifics
To start buying or selling Bitcoin, you need to specify the search criteria. You can do so by including the crypto type, how much you want to buy, and the payment method.
Afterward, the platform will offer several options for you to purchase. It would be best if you chose the offer that best suits your needs, not to mention that you should choose the one within your investment range. You can even buy a millionth part of Bitcoin if that’s how much you can afford.
Confirmation
Once you’ve finalized everything, including the deal you want to take, go ahead and confirm the transaction to receive your Bitcoins. The funds should reflect in your account within a few minutes.
Now it’s up to you what you want to do with your newly-bought crypto. You can use it for investments, save it for the future, or switch to other crypto projects if or when needed.
Conclusion
Several other crypto exchanges are available too that have a similar process to the steps we mentioned above.
Kenya’s crypto market is undoubtedly continuing to rise, and more options are being made available to interested investors and traders.
