Buying Bitcoin, Ethereum and Altcoins in Kenya
Kenyans and South Africans, tired of the banking situation in Africa, are two countries adopting bitcoin and altcoins at a rapid rate. The Central Bank of Kenya (CBK) warning that bitcoin is a bubble, seems to have fallen on deaf ears. The corruption scandals, costing taxpayers millions of shillings, are common enough that M-pesa could be replaced by bitcoin or an altcoin in the near future to allow Kenyans control of their money.
Top Exchanges to Buy Bitcoin in Kenya
One of the oldest and most common exchanges in Kenya has been Bitpesa for years. Creating the easiest entry for Kenyans to get into Bitcoin, appears to have made this the most popular and known exchange by far in Africa. The usual entry with KYC (know your customer) requirements exist for Kenyans buying bitcoin from Bitpesa, ease of purchase is definitely high with this exchange though.
Belfrics Kenya Bitcoin
Belfrics is another popular bitcoin exchange popular in Africa, India, Singapore and Malaysia. The benefit with Belfrics is that there no minimum transaction limit for customers, whereas Bitpesa has a $700 minimum transaction amount required. The lower transaction amounts to purchase bitcoin, come with a 5% fee, whereas Bitpesa has a 3% fee.
Anonymous Bitcoin Purchases in Kenya
With the huge markup in Kenya for bitcoin and the Central Bank of Kenya wanting to monitor everyone’s transactions, the anonymous bitcoin options are increasingly popular.
Many Kenyans head into Cape Town to buy from members at the Cape Town Bitcoin Club Meetups. There is the Kenya Bitcoin Meetups, Cape Town has so many hodlers with “black market” bitcoin available though. There are also the bitcoin sellers on gumtree, person to person transactions for bitcoin sound extremely risky to us, public places for exchanges do exist though.
Anyone who does head to South Africa for bitcoin should stop by the bitsmart at 39 Sitrus Crescent, Madison Square, Mpumalanga. They have a Bitcoin ATM and a “buy 4 get 1 free deal” on bitcoin mining machines.
BTC ATMKenrail Towers, Nairobi
Ring Rd Parklands
Bitrefill Mobile Bitcoin
Using Bitrefill in Kenya to top up the massive amount of prepaid phones throughout the country has also being extremely popular. No need to use shillings, which can be slower than bitcoin to transfer using Kenyan Banks. Bitcoin has never been investigated for stealing from Kenyan bank customers either.