How To Buy Bitcoin In Kenya with Mobile Money

Over the last decade, more people have become aware of bitcoin, how to buy one, its potential, and how it can impact the nation's economy. 

Kenya remains one of Africa's early adopters of bitcoin and other cryptocurrencies, and we can see how much impact these new digital currencies have had on the economy. 

This article gives a fascinating deep dive into the bitcoin era in Kenya, why Kenyans buy bitcoin, and how to buy bitcoin in Kenya.

Why You Should Buy Bitcoin In Kenya

Recently, Kenya has been dubbed the leader in African crypto adoption. According to a report by the United Nations, Kenya has the highest proportion of its population using cryptocurrencies in Africa. According to the United Nations Conference on Trade and Development (UNCTAD), 8.5 per cent of Kenya’s population, or 4.25 million people, own cryptocurrencies. 

Several adoption policies have been rolled out in the last few months in this bitcoin era, from El Salvador adopting bitcoin as a legal tender to Cuba legalising it as an accepted means of exchange. Kenya is not left behind in the bitcoin era in any way. Kenya ranked 5th in the world in crypto usage and peer-to-peer transactions, pacing ahead of developed countries like the U.S., China, and Russia, among several other African countries. 

This is due to the ease of payment, revenue source, and global access that buying bitcoin offers in Kenya.

Where to Buy Bitcoin In Kenya? 

Bitcoin is a digital currency asset that is not under the control of financial institutions or bodies. You should use a secure exchange such as Yellow Card when buying bitcoin in Kenya, as security is critical when we are dealing with your money, 

Yellow Card has the characteristics that a good exchange should have, with hundreds of thousands of users across Africa. Among them are the following:

High-security infrastructure;

As previously stated, security is critical. A global team of top security experts protects the Yellow Card platform. This protects your funds from online account hacks and P2P-related trade frauds.

Convenience: The Yellow Card platform is mobile-friendly and straightforward to complete transactions on time. Delays in crypto trading can result in significant losses, which Yellow Card prevents.

Geographical Accessibility;

If you're wondering if you can use your Yellow Card to buy bitcoin in Kenya, the answer is yes. The Yellow Card brand currently operates in over 16 African countries, allowing you to sell and buy bitcoin in each person's local currency.

Multi Payment Options;

Yellow Card accepts local currency, bank transfers, and mobile money as payment methods to sell and buy bitcoin in Kenya. Yellow Card has a peer-to-peer system that allows you to find crypto vendors in Kenya and safely exchange cryptocurrencies.

Read More: MoMo Deposits now live in Kenya

How to Buy Bitcoin in Kenya on Yellow Card

In Kenya, you can easily buy bitcoin from your mobile device with just a few clicks. To buy bitcoin on Yellow Card, follow these simple steps:

• Sign up on your account and verify your details.
  You can create a Yellow Card account on the web or through the mobile app available on the Google play store or App store. Once you sign up, automatically, you are assigned a free bitcoin wallet.
• Fund your account with Kenyan Shillings (KSH)
  Once you've created your Yellow Card account, log in and select "deposit" from the drop-down menu on your dashboard. Select the payment option available on display, Standard bank transfer or Mobile Money.
  For standard Bank Transfer
  - Deposit the amount you wish to add to your wallet into the bank account displayed on your screen
  - Once your deposit has been confirmed, the funds will be reflected in your balance.
  
• for Mobile Money
  To buy bitcoin with Mobile Money, select Mobile Money on the dropdown menu.
  Enter the amount you want to deposit.
  Select your mobile money provider and enter your mobile number.
  Confirm the deposit information and authorise the transaction on your mobile device.
  Confirm the transfer by clicking the “I’ve completed the transfer” button.
  Your account will be credited with the deposited amount.
  You can withdraw your funds anytime because any amount added to the wallet belongs solely to you.

Buy Bitcoin
Once your account is funded, select “Buy Bitcoin” from your dashboard and enter the amount you want to buy. Confirm your order and buy. Once this is done, your bitcoin will reflect instantly in your wallet.

How to Convert Bitcoin to KSH: Yellow Card Withdrawal

To buy, sell, and receive funds on Yellow Card is relatively straightforward and can be completed in a few clicks. You can accept bitcoin from your friends using Yellow Card or an external wallet. You can withdraw your funds from your Yellow Card wallet by following these steps:

1. Log in to your account
2. Select Bitcoin
3. Click on Trade and select sell
4. Enter the amount you wish to withdraw
5. Tap continue and confirm. Once you have sold your bitcoin to Yellow Card, you can withdraw your funds.
6. Tap the "Withdraw" option on your dashboard
7. Indicate the amount you wish to withdraw from your Yellow Card account
8. Tap Review & Confirm
9. Input your Transaction PIN and confirm details.
10. Once the withdrawal has been confirmed, the funds will reflect in your bank account.

Buying Bitcoin in Kenya Today

Notably, Kenya's adoption rate of cryptocurrencies is higher than that of leading economies like the US (8.3%). 

While it is still easy to determine the value of digital currencies owned in Kenya, bitcoin can transform Kenya's economy in many ways. 

Buying bitcoin in Kenya can be easy, as Yellow Card makes bitcoin available to you at the best price at no additional cost.

Buy Bitcoin Today