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Kenya is one of several African countries which have successfully adopted cryptocurrencies and that is the reason why a number of Crypto exchanges have launched in the East African country. A good number of Kenyan investors now have access to a wide range of crypto exchanges and this can be attributed to the easy accessibility of internet in Kenya since cryptocurrency is usually internet based. Kenyan investors can now buy and sell digital assets like Bitcoin and Ethereum at the click of a button from wherever they may be, even on the go. See the latest Bitcoin to Kshs Price.
Research shows that there is a consistent pattern of cryptocurrency adoption and growing trade rates in Kenya over the past few years. In the past, Fiat currencies were used when making payments but all that has since changed and now as some Kenyans are now using cryptocurrencies to pay for everything. Chainalysis, Global Crypto adoption Index 2021 has ranked Kenya the top country in the world in terms of peer to peer exchange trade, well ahead of the other 154 countries surveyed, this shows just how popular cryptocurrencies have become in Kenya. This article seeks to list the cryptocurrency exchanges available in Kenya, as well as the best bitcoin wallets in Kenya.
Changelly is an extremely popular and successful crypto exchange that offers its customers a one-stop-shop experience because traders can purchase, sell, swapp, and trade cryptocurrencies. Changelly has a wealth of experience in the crypto industry as it was launched about 7 years ago in the year 2015. To date, Changelly has now over 2 million users worldwide and this is a very big number considering the fact that the company is just 7 years old. Changelly is what is called a non-custodial cryptocurrency exchange service, what this means is that it never stores any of your money or cryptocurrency, traders need to have their own wallets to be able to use the service. The Changelly’s trading algorithm is integrated into the largest cryptocurrency exchange platforms such as Binance and Bittrex amongst others. The company makes bids and asks on the platforms, then selects and suggests the best available rate and displays the estimated rate on our site. The rates remain approximate until the transaction is actually made on the blockchain, which is why the exchange rate at the time of a transaction may differ slightly from the estimated rate that you see when you begin a transaction. Changelly supports over 140 cryptocurrencies on the Changelly platform including Bitcoin, Ethereum and several others.
Paxful is popular crypto exchange in Kenya because of the quality service it offers. The company is a Peer to Peer Bitcoin marketplace which means that it connects buyers with sellers. What makes Paxful so popular is the fact that it gives its customers a simple, fair and secure platform for trading. The downside of Paxful is that it only offers three cryptocurrencies on the Paxful platform namely Bitcoin (BTC), Tether (USDT) and Ethereum (ETH), this is just not enough because investors want to have the luxury of choosing their preffered cryptocurrencies rather than for the exchange to impose cryptocurencies to them. Paxful has a great platform which is user-friendly and allows users, be it experienced or novice users to easily trade on the platform. Paxful also have an App which is available on Android or IOS so users can trade on the go.
Bitsquare is another crypto exchange which operates in Kenya, it is actually a peer-to-peer bitcoin exchange that enables users to purchase, sell, and swap bitcoins for other cryptocurrencies and fiat currencies. Bitsquare was founded in the year 2014 in Barcelona, Spain, and it can be considered a seasoned crypto exchange. If you wish to stay anonymous as a dealer, then Bitsquare is the ideal bitcoin trading platform for you because your data is stored locally on-disk, and is never sent to a central server.
You will be excited to know that Bitsquare never holds your funds, deposits held in 2-of-2 multisig wallets encourage safe, successful trades. The Bitsquare platform is quite easy to understand and is not sophisticated, in fact, you will be able to make your first trade in under 10 minutes.
Trading fees are calculated as a percentage of trade size: 0.1% for makers and 0.7% for takers if paid in BTC and about half of that if paid in BSQ.Keep in mind that you’ll also need to pay mining fees for the on-chain transactions, as well as a deposit to lock into the multisig escrow. You’ll get the deposit back in full after the trade completes successfully.
Customers of Bitsquare can buy and sell bitcoin using any nationwide fiat currency.
BitMEX is a cryptocurrency exchange which is owned and operated by HDR Global Trading Limited, which is registered in the Seychelles. BitMEX is a leading crypto derivatives exchange that enables traders and investors to buy futures and perpetual swap contracts on a wide range of cryptocurrencies.
BitMEX, which was founded by Arthur Hayes, Ben Delo, and Samuel Reed has been in existence for about 8 years now and in those 8 years, the company has been one of the the leading cryptocurrency exchanges. BitMEX launched our XBTUSD perpetual swap, a product which is still the most traded cryptocurrency product of all time.
The crypto derivatives exchange supports 18 digital currencies and tokens, including Bitcoin (XBT), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), Binance Coin (BNB), Cardano (ADA) amongst other cryptocurrencies.
LocalBitcoins is a person-to-person bitcoin trading site which offers its services in about 200 countries including Kenya. With LocalBitcoins, you can place a purchase or sale announcement indicating the exact amount and the means of payment you accept, or you can find an advertisement that fits your needs, so you will always have options to exchange. LocalBitcoins is a very secure platform because when a trader replies to an advertisement, a trade chat is opened and escrow protection is automatically activated. Escrow protects both buyer and seller by keeping the bitcoins safe until the payment is done and the seller releases bitcoins to the buyer. LocalBitcoins only offers Bitcoin trading, and the reason for that is because Bitcoin is borderless and independent of local political risks and it also enables financial inclusion in regions underserved by the traditional banking industry.
LocalBitcoins has an affiliate program whereby users can earn Bitcoin by simply referring other users to trade with the company. You can earn Bitcoins in three ways, that is, from users who; arrive to the site through your affiliate link, register or make trades. It is important to note that a visitor will be considered as your affiliate for three months and payouts will be paid daily to your LocalBitcoins wallet as bitcoins.
CEX.IO is an entire ecosystem of products and services that allow customers to engage with the decentralized economy from various aspects. CEX.IO has a client base of over 4,000,000, the platform, and this shows that it is a crypto exchange that can be relied on.
CEX.IO is a international cryptocurrency exchange that enables traders and investors to buy, sell, borrow, and earn crypto. CEX.IO was established in 2013 and it supports over 100 digital currencies and tokens, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Uniswap (UNI), amongst others. CEX.IO is also regularly expanding the list of cryptocurrencies. Still, every cryptocurrency has to pass a thorough verification to be listed.
Coinmama is the leading cryptocurrency exchange platform to buy & sell crypto with credit card, debit card or bank transfer. Coinmama is an established, straightforward cryptocurrency exchange. It supports a small number of digital assets including Bitcoin, Cardano, and Ethereum. and doesn’t offer a dedicated crypto wallet.
Coinmama was established in 2013 and has served over three million customers around the world. The company is headquartered in Ireland, and it was founded by Nimrod Gruber, Laurence Newman, and Ilan Schuster.