How to Buy and Sell Bitcoins in Kenya

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How to Buy and Sell Bitcoins in Kenya using Finsolutions

Bitcoin is a digital currency that was created in January 2009. If you would like to buy and sell bitcoins in Kenya, you can use Paxful.com or LocalBitcoins.com, which are peer-to-peer trading platforms of bitcoins.

Step by step guide on how to buy and sell bitcoin using Paxful

1) Create an account

You will need to provide your email address, name, username, and password. You can then verify your email and ID to increase your trade limits, although this is optional.

Once you have opened an account, you will receive a free bitcoin wallet.

2) Find an offer

After you have created an account, choose your method of payment. NB: There are over 300 payment options available.

Then choose the number of bitcoins you want to purchase, and your preferred currency.

Next, click on Search for Offers, and browse through the available offers.

Pick one that closely matches your requirements, and review the terms of the seller.’

Source: Paxful

3) Begin the trade

If you agree with the seller’s terms, key in the number of bitcoins you are willing to buy, and start trading. This will commence a live chat with the seller. Be sure to follow the instructions of the seller and make payment. 

4) Receive the bitcoin

Once payment is made and confirmed, the seller will release the bitcoins directly to your Paxful bitcoin wallet. 

Step by step guide on how to buy and sell bitcoin using LocalBitcoins.

1) Register

Firstly, open an account with LocalBitcoins of which you will get a free online bitcoin wallet.

2) Search for advertisements

To buy, first, go to the main page, and on the search box fill in the form. Then enter the amount you want to buy(* it should be in your currency), your location, and your preferred payment method. 

In case you are unsure of how you want to pay, choose “All online offers” as your preferred payment method.

 3) Select an advertisement

The site will list bitcoin traders available in your region.

NOTE: It is best to go for a trader with a good reputation score, a high volume of trades, and a quick response time.

Click the ‘Buy’ button to view more information about an advertisement that piques your interest. 

Source: Localbitcoins

 4) Pay the seller

When you press the ‘Buy’ button, you’ll see more information about the terms of trade. Go through them before giving a trade request. If you do not agree with the terms, you can always go back to the previous page and choose another advertisement.

To begin trading, type in how much you want to buy, type a message for the seller and then click the “Send trade request” button to start trade. 

Note that if you don’t pay before the payment window is over; the trade will be automatically canceled. 

Source; Localbitcoins

5. Mark payment complete

After making your payment, click the “I have paid” button. The trader will then verify your payment has been received, and your bitcoin will be released from an escrow account and they instantly credited into your Local Bitcoins wallet.

How to Buy and Sell Bitcoins with Finsolutions

Finsolutions is a boutique, tech savvy firm with interest in alternative investments such as private equity and crypto-currencies. Our firm buys and sell bitcoins within Kenya and the East African Region. To buy and Sell Bitcoins Kindly contact one of our experts; Email; info@finsolutions.co.ke, +254 780216631 or Visit our Offices for Cash Transfers at Veteran House located along Moi Avenue, 8th Floor Room 807

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About Author

Anthony Kiratu is the Founder of Finsolutions. He is a financial analyst with over 5 years experience in research, investment advisory, valuation and financial modelling. Anthony is a member of the Institute of Certified Investment and Financial Analysts and Institute of Certified Public Accountants of Kenya. He is passionate about development of African Capital Markets through training of investors and dissemination of information for sound financial and investment decision making process. He is also a part-time lecturer in the Certified Investment and Financial Analyst course in the subjects of International Finance, Portfolio Management, Equity Investment Analysis, and Fixed Income Securities. Email: anthony@finsolutions.co.ke Contact: +254 780216631

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