In recent years Kenya has displayed a steady trend of cryptocurrency acceptance and rising trade volumes within the country.
The Blockchain Association of Kenya (BAK) explained in an interview that digital currency awareness has increased and that Kenyans are using bitcoin and other digital assets to pay for education and to purchase products.
Along with this, cryptocurrency trading has increased in popularity in the country, and Kenyans have a wide variety of exchange avenues to choose from if they want to purchase cryptocurrencies like Bitcoin.
In this article, we explore the seven best cryptocurrency trading platforms for Kenyans.
First established in 2013, Cex.io entered the cryptocurrency trading arena as a Bitcoin exchange and cloud mining provider. Since then, the company has grown into a multi-functional exchange, trusted by over half a million users.
Cex.io differentiated itself as being one of the first platforms to make fiat-to-crypto transactions available to its clients by offering card payments and bank transfers.
Today, Cex.io is popular for its wide variety of trading tools for Bitcoin, Bitcoin Cash, Ethereum, Ripple, Stellar, Litecoin, Tron, and other crypto assets.
Also established in 2013, Coinmama offers a fast, safe, and engaging way to buy digital currency from anywhere in the world.
As such, Coinmama has established itself as a leading cryptocurrency exchange which enables clients to buy and sell cryptocurrency using a credit card and bank transfers.
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LocalBitcoins operates as a decentralized exchange that does not impose buying or selling limits while facilitating peer-to-peer Bitcoin sales.
Users list their own advertisements, and can make private purchases from anywhere in the world.
Kraken is one of largest cryptocurrency trading platforms in the world, having raised US$100 million in a direct offering to its largest customers at a $4 billion valuation in 2019.
The platform boasts millions of users and provides cryptocurrency to fiat trading as well as price information to Bloomberg Terminal.
Short for Bitcoin Mercantile Exchange, BitMex operates primarily as a peer-to-peer derivatives trading platform.
The company has become popular for its reliable derivatives, futures, and indefinite contracts on cryptocurrencies, primarily Bitcoin. However, the BitMex platform does not facilitate fiat currencies.
Established in 2015, Paxful is another peer-to-peer Bitcoin trading platform that allows buyers and sellers to directly interact by posting trade offers.
As such, Paxful conducts over 20,000 trades per day, more than any other P2P crypto platform. Users of the Paxful platform are provided trading security from scammers with the company’s escrow feature.
Paxful provides a wide number of popular purchase methods, including PayPal, MoneyGram, Amazon/iTunes gift cards and many more.
Changelly allows for cryptocurrency trading and conversion using a bank card, which is facilitated via a highly navigable ad user-friendly trading interface, and can be accessed from anywhere in the world.
Changelly allows for speedy registration, and the company’s conversion mechanism is integrated into some of the biggest cryptocurrency platforms such as Poloniex, Bittrex, and Binance.
Read more about Bitcoin trading for beginners here.
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