Buying and selling Bitcoins in Kenya through Mpesa has never been this easy. All you need is to create a bitcoin account online as illustrated below, look for GENUINE Kenyan Bitcoin sellers, purchase your bitcoin using mpesa wallet, and receive them in your app account. Below is a simple guide on how to join, buy, use, and benefit from investing in Bitcoins.
UPDATE: LocalBitcoins is shutting down. It does not anymore allow new registrations.
What are Bitcoins Used for in Kenya
Bitcoin is a digital currency that is used to purchase products and pay for services online. Having Bitcoins is like having cash on the internet though you can convert them to solid cash anytime.
In Kenya, Bitcoins are not commonly used so they are suitable for traders who engage in online business (for instance, they can be used for buying products online).
Unlike Paypal, Mobile, and Digital Banks, Bitcoin is not controlled by any person or government.
What Can I use Bitcoins for in Kenya
They are various ways in which you can make use of Bitcoins in Kenya as illustrated below;
- Like shares, you can acquire Bitcoins and wait for the price to rise and sell them. Bitcoin prices do fluctuate and if you are patient, you can make some pretty good money (For instance, You can buy Bitcoins at $50 and sell them when they are going at t $100 (read case story on Bloomberg)
- Several business accept online payment through Bitcoin Currency. Some of the top companies that allow use of Bitcoin currency to purchase there products and services include (WordPress, Microsoft , Reddit, Namechap, Expedia, Newegg, Bloomberg, Shopify, Badoo e.t.c) Find full list of companies that accept Bitcoin payments in this page.
NOTE: Unlike Paypal, Bitcoin transactions cannot be reversed. So, only deal with people you trust.
How to Buy Bitcoins in Kenya through Mpesa
There are various applications and websites that you can use to buy and sell bitcoins in Kenya. In this case, I am going to use LocalBitcoins. With LocalBitcoins you can buy Bitcoins through mpesa or bank. Below is how to go about it;
- Visit Local Bitcoin website and Create an account: https://localbitcoins.com/country/KE
- On the top menu of the website click signup for free then create an account.
- Check your email to confirm your registration details
- Select the kind of trader that meets your ability. Some traders limit selling of Bitcoins to Ksh. 1,000 others to Ksh. 20,000. Also, ensure to check on the seller’s reputation before buying. Only trade with sellers with a Feedback score of 100%.
- After trusting the seller, click on Buy Bitcoins online from (his/her name) to buy.
- You will be directed to a page that shows the terms and conditions of the trader.
- Carefully read his/her the terms and conditions (they are normally short)
- After agreeing to the terms Enter the amount you wish to Buy in Kenyan Shillings and you will be able to see how many bitcoins you will get for the same.
- Make Mpesa Payment
- Confirm payment and you will receive the Bitcoins from the seller.
- You are done!
NOTE: Always take note of the seller’s reputation. Be aware of phishing attempts!
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Lamech Siko Ongige says
Help me to be part of this investment i.e how to start and go about it.
i am very i eager do this. and most importantly i really need to know how to purchase and selling it.. while being safe from phishers
I did it thru the internet and somebody asked me to send them 29k in their account(Stanbic) using m-pesa.. is this right or they are scammers?
Kenyayote Support says
Do not send money to any person you do not know or have not met before outside the trading platform.
julanda kananu says
please i would love to know how to fund my localbitcoin account so that i can be able to sell.
Email i will give you guide line on how to do it.
i would like to know more about bitcoin
Kenyayote Support says
This book is recommended for bitcoin traders beginners in Kenya. It will help you learn about the risks and gains that come with Bitcoin trading. https://muthurwa.com/product/bitcoin-trading-with-paxful/
nelson kariuki says
Hi I want to know how I can buy bitcoin through mpesa
I need to learn more on Bitcoin trading and the process of buying and selling bitcoins.
Elizabeth Mutanu Mwende says
Hello would you mind guiding me on the same please?
0724021369.please can someone assist me how to buy bitcoin on paxful
Kindly. Can someone help me buy bitcoin. In paxful
Kenyayote Support says
Here is a guide on how to buy bitcoins on Paxful.
Will I need to have a wallet to store bitcoin or once I buy using mpesa I will receive where,I mean is it somewhere I may b able to check out now and then like how you check account balance.
Kenyayote Support says
Your bitcoins will be stored in your LocalBitcoins account. You can always check your bitcoin balance anytime in your account. You can also use the same account for buying and selling bitcoins.
Kindly I need assistance on how to start
GEORGE WAITHAKA NDUN'GU says
It is very simple
Edwin Muriithi says
Can i start with as little as 200
Simon Waithaka Murimi says
Apart from buying and selling bitcoins which other charges will a prudent investor incur before receiving profits from this investment.
Martin Wanjohi says
I am interested in buying bitcoins
I am interested in this. How do I know a bitcom dealer is genuine, straight before buying bitcoins?
I can help you , just email my contact
Agnetar Musava says
Hello,help me to understand how to operate the Bitcoin trade.
What is the least amount I can buy with
Stephen Waweru says
Can somebody help and assist me to join and buy Bitcoins.lm ready,interested and willing to join.l also need to learn more.thank you.
How can I buy bitcoins and where can I get a genuine seller?
I would like to trade with as little as khs1000, how do I go about it?
Sir, kindly le mi follow this 🙏
I would wish to start this business with the least amount of $5 through mpesa if it is fruitful.kindly inbox me on whatsspp (contact removed) and the terms.
I want to invest in bitcoin how do i go about it?
Moses Brodin says
“You’re buying into belief in the value of a currency backed by nothing — no banks, no governments, no property. Cryptocurrency advocates will tell you that’s why it’s so great””
No thats not at all what cryptocurrency advocates will say – they will say you are clueless to claim its backed by nothing. Its not fiat currency. Fiat currency is backed by nothing – cryptocurrency is backed by verified proofing systems and public ledgers that cannot be forged or altered”
Sir paul says
I do agree with you Mr..
Waiswa Martin says
Thanks for the info, i would like to know how many bitcoins are in circulation worldwide and whether they are still being produced.
Elvis Nyakang'i says
According to statista, In the first quarter of 2019, there were 17.6 million Bitcoins in the world. The maximum supply limit of Bitcoin is 21 million.
Hello I need assistance on how to start