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7 Best Cryptocurrency Exchange Platforms in Kenya

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Cryptocurency is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a Central Bank. Buying and selling of cryptocurrency have appreciated in recent years in Africa, especially in Kenya. 


 

In this article, we've examined the best crypto exchanges in Kenya, and the results show several impressive platforms where you can buy and sell digital currencies. 


 

For the sake of clarity, we divided the exchange platform into two categories: centralized exchanges and peer-to-peer (P2P) crypto exchanges. Let's jump right in. 

4 best centralized exchanges available in Kenya 

A centralized exchange is an online platform that allows its users to trade between different cryptocurrencies or tokens. 

They're a convenient way to convert your fiat currency into a cryptocurrency before you store it in a personal wallet. 


 

That said, some centralized exchanges also offer cryptocurrency to cryptocurrency trading pairs, which are called CFDs (Contracts for Difference) by financial institutions. 

Below, we'll take a look at the 5 best cryptocurrency exchanges in Kenya. Let's dive in: 


 

Topit  

Topit is a fast-rising centralized crypto exchange in Africa with a physical presence in Kenya. The company has grossed a great number of buyers and sellers of cryptocurrency and other transactions in the past year. 


 

They aim to see that buying and selling cryptocurrency is done securely and efficiently within the Kenyan and African markets. 

Topit offers a secure way to hold your digital currencies, helping you to trade with ease. Topit also supports competitive fees and a fast mode of operation. 


 

Furthermore, the company provides excellent services for buying and selling cryptocurrencies like BTC, ETH, BNB, and USDT in Kenya and other African countries. 


 

Belfrics 

Belfrics is a secure crypto platform available in Kenya. 

The exchange company was established in 2014 and is headquartered in Malaysia, with branches in more than 10 countries, including Kenya. 


 

Belfrics allows you to buy Bitcoin in local currency, and make trades using your Android or iOS devices. 

Likewise, the company is regulated by the Labuan Financial Services Authority, which makes it a safe place to trade Bitcoin. 


 

In addition to personal transactions, you can also create an account for your business on Belfrics. This will enable customers to pay for your products or services in Bitcoin. Belfrics supports digital currencies such as Bitcoin and Ethereum. 


 

Yellow card 

Yellow card is a centralized exchange in Kenya. They provide services for buyers and sellers of crypto in Kenya to invest in Bitcoin and other digital currencies.  

Their work procedures are straightforward and well organized for professionals and beginners to navigate easily. Yellow card provides multiple options for transactions made through their platform, which is vital for buyers and sellers of cryptocurrency to transact as many times as possible.  

Coinbase 

Although launched in 2012,  Coinbase has over 30+ million customers worldwide and is currently one of the leading cryptocurrency platforms in Kenya. Customers can use their local currency to buy and sell in Coinbase. The platform also has a mobile application available for iOS and Android users. 


 

One thing that makes Coinbase unique is its offline storage and advanced security. In addition, the platform can provide as many crypto assets as possible. Coinbase accepts deposits in USD, EUR, GBP, CAN, AUS, and SGD. 

Top 3 peer-to-peer (P2P) crypto exchanges in Kenya 

Peer-to-peer (P2P) cryptocurrency exchanges function as marketplaces where users can buy and sell digital currencies using local currency and other cryptocurrencies. Additionally, these services match buyers and sellers, unlike traditional exchanges that act as an intermediary to buy and sell bitcoin. 


 

Buyers and sellers meet in-person to decide the price of bitcoin. 

With Africa sitting atop the P2P cryptocurrency trading growth, here are some of the best peer-to-peer crypto exchanges for buying and selling digital currency in Kenya. 

Let's take a look: 

 Binance  

Binance is Kenya's most popular peer-to-peer (P2P) crypto exchange platform. It's a first-class exchange platform, suitable for experienced traders who are looking for a respected cryptocurrency market for real-time trading. 


 

There are more than 166 cryptocurrencies available for use, and both beginners and advanced traders can use countless tools and currency pairs in a powerful trading platform. Other services provided by the exchange include brokers, clouds, charities, academies, and blockchain projects.  


 

Binance accepts deposits in over 50+ currencies including USD, EUR, JPY, KRW, GBP, AUD, RUB, and many more 

   Paxful 

Paxful is another peer-to-peer (P2P) Bitcoin trading network available in Kenya and other parts of the world. The company provides an interactive platform where buyers and sellers of cryptocurrencies can connect by issuing exchange quotations. 


 

As a result, Paxful processes more transactions than any other peer-to-peer crypto network. With the help of Paxful's escrow feature, users can be protected from scammers when making transactions. 


 

In addition, Paxful accepts a variety of payment methods, such as PayPal, MoneyGram, Amazon/iTunes gift cards, etc. 

Bitsquare 

Bitsquare is a peer-to-peer bitcoin exchange that enables users to buy, sell, and exchange bitcoins for other altcoins and fiat currencies. It is available in Kenya and other places. The platform is ideal for bitcoin trading, especially if you consider your protection and anonymity as a user. 


 

Bitsquare is a "decentralized autonomous organization" (DAO), and its equity is distributed based on project members. 

Final words 

In the last few years, Kenya has witnessed a phenomenal growth in the use of cryptocurrency and various types of crypto exchanges. 


 

This rise is due to the great returns that individuals and investors have been getting from cryptocurrencies as well as its decentralization.  

However, one thing is certain, the rise of cryptocurrency in Kenya will lead to income diversification and growth in Gross Domestic Product. 


 

 


 

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