Best Crypto Exchanges In Nairobi
The best Cryptocurrency exchange in Nairobi - ByBit
Тop Cryptocurrency exchanges in Nairobi:
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ByBit - best for traders seeking fast and efficient crypto transactions;
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StormGain - best for beginners and experts;
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Binance - best for traders of all levels seeking safe, efficient, and fast crypto transactions;
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KuCoin - best for traders whose objective is to buy, sell, and trade top cryptocurrencies;
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Huobi Global - best for professional traders looking to borrow a broad array of cryptocurrencies.
It is a wise financial move to start trading cryptocurrencies in Kenya, but to succeed in crypto trading, you must use the best cryptocurrency exchange in Nairobi. Your long-term profitability depends on the cryptocurrency exchange you select. Additionally, they impact how simple it is to buy and sell coins.
Given all the options out there and the different features each of them offers, finding the best crypto brokers in Nairobi could pose a challenge. Consider trading with a cryptocurrency exchange in Nairobi that provides the highest level of security and minimal transaction costs. Hence, your ultimate aim should be to trade crypto with reputable local or offshore crypto exchanges that accept Kenyan clients.
So, if you’re looking for a safe and secure crypto exchange that’s easy to use, here are the biggest crypto exchanges in Nairobi.
Top crypto exchanges in Nairobi
Among the largest cryptocurrency exchanges in Nairobi are Binance, StormGain, and ByBit. Kenya's most popular cryptocurrency exchange, Binance, has over 90,000,000 users. With a growing influx of new traders, Binance currently holds the top spot in aggregate reports of its daily turnover. Its active user base, liquidity, and website traffic also score highly. Binance offers more ways for traders to access and deposit their money, better support, and more educational resources.
StormGain is among the best apps to buy Bitcoin in Nairobi, considering how convenient it is to purchase cryptos on this platform. Users can invest in the largest cryptocurrencies available thanks to the user-friendly interface, and keeping an account or using this trading platform in Kenya is profitable thanks to the low interest fees and zero commission.
ByBit is another well-known cryptocurrency exchange in Nairobi that provides user-friendly fee structures, investment programs, and larger crypto bonuses. Because of the degree of transparency it offers, ByBit is being adopted by traders in Nairobi. KuCoin and Huobi Global are other top alternatives.
Comparing the best site to buy bitcoin is advised when deciding which is the best cryptocurrency trading platform in Nairobi. The best sites to buy Bitcoin in Nairobi are contrasted in the table below.
| Broker | Best For | Maker fee | Taker fee | Knya shilling (KSh) support | Number of Supported Coins |
|---|---|---|---|---|---|
It is best for beginners and experts |
0.25% |
0.25% |
- |
+350 |
|
It is best for traders seeking fast and efficient crypto transactions |
0.01% |
0.06% |
YES |
+100 |
|
It is best for traders of all levels seeking safe, efficient, and fast crypto transactions |
0.10% |
0.10% |
YES |
+360 |
|
It is best for traders whose objective is to buy, sell, and trade top cryptocurrencies. |
0.1% |
0.1% |
- |
+700 |
|
It is best for professional traders looking to borrows a broad array of cryptocurrencies. |
0.2% |
0.2% |
- |
+700 |
ByBit - best for traders seeking fast and efficient crypto transactions
With its corporate headquarters in Singapore, Bybit is a well-known cryptocurrency exchange that works on a global scale. Due to its many features and user-friendly layout, Bybit has established a reputation as one of the finest cryptocurrency exchanges in Nairobi. Ben Zhou, a well-known figure in the cryptocurrency community, is the founder of Bybit. Over 400 digital assets, such as Bitcoin, Ethereum, and altcoins, can be traded on Bybit's reliable trading platform.
Other important elements that contribute to the exchange's top ranking are its robust security measures, vast selection of assets, round-the-clock customer service provided in Nairobi, and several MYR payment options. In addition to trading, Bybit provides a wide range of other features, such as crypto staking services, crypto loans, lending options, an NFT marketplace, a rewards center, and more. The platform places a high priority on security, transparency, and privacy, which makes it a solid option for investors from Nairobi. Due to its minimal trading fees, it is also considered to be among the cheapest cryptocurrency exchanges.
StormGain - best for beginners and experts
The StormGain cryptocurrency exchange is a platform for cryptocurrency trading and exchange. Bitcoin, Tether, Dash, Monero, Tron, and dozens of other cryptocurrencies and tokens are traded on this exchange. The platform has its proprietary trading terminal, of which there are browser and mobile versions. StormGain offers a standard referral and loyalty program to improve trading terms. There is also an investment deposit program with a profit of up to 12% per annum. The platform provides basic training guides, and there is a high-quality support service operating twenty-four/seven. The Bitcoin mining function with its zero commissions is an important cryptocurrency exchange feature. The commission fee is charged only on successful trades in the amount of 10% of the trader's profit.
Binance - best for traders of all levels seeking safe, efficient, and fast crypto transactions
Due to its cutting-edge features, affordable fees, committed support team, security, and high liquidity, Binance is regarded as the finest cryptocurrency exchange for companies in Nairobi. Companies can trade with great volume and flexibility because of its trading characteristics. Its professional-grade trading platform is outfitted with cutting-edge technologies to meet the demands of both beginners and big investors. With its innovative methods, the exchange also places a high priority on security, winning over institutional clients' trust and confidence. More than 180 nations worldwide, including Nairobi, have laws and licences governing it. Investors can trade over 350 cryptocurrencies, stake over 30 tokens, and transact in hundreds of NFTs on Binance.
Binance also offers a wide variety of cryptocurrency trading alternatives and claims one of the most affordable crypto exchange fees at just 0.1%. Additionally, the platform offers a wide range of features, including spot, futures, leverage, options trading, staking services, and a decentralized exchange (DEX). The platform provides assistance to users 24/7 in a number of languages. In addition to its sophisticated security measures, Binance is bound by legal standards, provides a wide range of features, and maintains a reputation as one of the top cryptocurrency exchanges in Nairobi.
KuCoin - best for traders whose objective is to buy, sell, and trade top cryptocurrencies
As one of the largest cryptocurrency exchanges internationally, KuCoin offers margin, futures, and peer-to-peer trading in addition to primary trading. NGN is supported along with other top currencies on the platform. KuCoin offers low trading fees. It charges 0.1% of the maximum taker fee and 0.1% of the maximum maker fee. The minimum deposit starts at $1.
Key features:
KCS: The exchange offers daily incentives to hold KuCoin Shares (KCS), which is its own native cryptocurrency. Owners of KCS automatically qualify for exclusive rewards and promotions, and it has lower trading fees than other currencies.
Customization: You can customize the system with an advanced application programming interface (API). The backend code can be customized to provide custom reporting, automation, and workflows tailored to your organization’s needs.
Security management: KuCoin takes steps to ensure the security of your investments. Your account is periodically reviewed by a team of security experts, closing any security gaps they find.
Huobi Global - best for professional traders looking to borrow a broad array of cryptocurrencies
HTX (Huobi Global) is a global cryptocurrency exchange that was founded in China but is headquartered in Seychelles. The work of the international company started in 2013. The cryptocurrency exchange allows traders to carry out transactions with a variety of assets, including about 300 currency pairs and cross rates. There is no information on whether this company is licensed and the exchange hasn’t received any awards during its brief activity.
Huobi Global highlights include 400+ supported assets, an advanced interface, a trading bot, Smart-Chain analysis, and mining pools.
Spot trading, peer-to-peer trading, margin trading, flash trading, crypto staking, and lending are just a few of the investment options offered by HTX Crypto Exchange.
Is crypto safe in Nairobi?
Yes. Crypto trading and investment are safe in Nairobi, but traders must invest with regulated local and international crypto exchanges in Nairobi. Kenya is one of the nations with the best “Developing Regulatory Environment” in terms of the degree to which compliance requirements for blockchain technology and cryptocurrencies are understood.
Firstly, there are no specific laws or regulations forbidding the use or ownership of cryptocurrencies in Kenya. However, the National Payments Systems Act, Capital Markets Act, and Kenya Information and Communication Act are primarily in charge of Kenya's regulatory framework for cryptocurrencies. Cryptocurrency trading is authorized, but there is no logical legal framework or clear communication of rules on cryptocurrency operations.
Despite an estimated 2.7 to 4 million cryptocurrency owners in Kenya, it has not yet been recognized as a legal tender or an asset. Crypto exchanges in Nairobi that offer transmission services must be regulated; otherwise, they will lose the ability to access local financial services.
Below are additional steps to reduce the possibility of financial loss when trading cryptocurrencies for safer investments in Kenya.
Do your research, comprehend the risks, and watch out for shady exchanges before investing in any cryptocurrency.
Use a secure wallet and only invest money that you can afford to lose.
Trade with patience and become familiar with portfolio diversification.
Put your cryptocurrency assets in cold storage to protect your portfolio.
Avoid using too much leverage.
How to choose a crypto exchange in Nairobi?
Throughout your years of investing in cryptocurrencies, the crypto exchange you select will play a significant role. The best cryptocurrency exchange in Nairobi influences your trades' profitability by giving you features that reduce the risks associated with Forex trading. Hence, the cryptocurrency exchange you choose matters, which is why you must be careful of the factors or situations that led to you signing up with crypto exchanges in Nairobi.
Selecting a crypto exchange in Nairobi necessitates a trader to consider certain factors. Below are examples of what a trader should look out for when choosing a crypto exchange in Nairobi.
Start by doing some research and compiling a list of Nairobi-based cryptocurrency exchanges. Compare each company's reputation, offerings, and features.
Verify the exchange's registration and adherence to applicable financial laws. You should avoid unregulated crypto exchanges at all costs. Licensed exchanges add a layer of security to your transactions.
A user-friendly interface can significantly improve things, especially for new users, so ensure the exchange you choose integrates an intuitive and easy-to-navigate interface.
Look for exchanges with strong security measures like two-factor authentication (2FA), cold storage for funds, and encryption protocols.
Verify which cryptocurrencies the exchange supports. Some might provide a wider selection than others.
Go for crypto exchanges in Nairobi that offer higher liquidity and trading volume. These features indicate a more active and stable crypto exchange, which can lead to smoother trading experiences.
Verify the crypto exchange's various fee structures. Traders should sign up with a cryptocurrency exchange with a low minimum deposit requirement and no commissions.
Is crypto a good investment in Nairobi?
Yes, crypto is a good investment in Nairobi, but it is for traders who understand the crypto industry and know what exactly to do with their investments. Numerous blockchain projects are blatant scams, and it appears they fiercely compete with the genuine crypto exchanges in Nairobi. Investors should exercise caution when selecting any Kenyan cryptocurrency exchange. Therefore, whether or not it's worthwhile to invest in cryptocurrencies will depend on your risk appetite, investment goals, and understanding of the market.
Be aware that there are risks associated with investing in crypto assets, but despite these dangers, Kenya's blockchain and cryptocurrency industries are expanding. Though it might not be as profitable, buying the stocks of companies that deal with cryptocurrencies could be a safer alternative. Below are the top benefits and cons of investing in cryptocurrencies in Nairobi.
Below, let’s consider some of the advantages and disadvantages of investing in cryptocurrencies.
👍 Pros
• Experts claim that cryptocurrencies protect against inflation.
• In addition to decentralized systems that do not have a single point of failure, cryptocurrencies offer faster and cheaper money transfers.
• The use of cryptocurrencies to diversify a portfolio ensures more stable returns by combining assets with a lower price correlation.
• Transacting with cryptocurrencies ensures there is no third-party involvement.
• It only takes a few minutes to complete a transaction involving a cryptocurrency.
• Transactional costs may be negligible or even zero because third parties are no longer required to confirm transactions.
• Compared to conventional financial assets like stocks and bonds, cryptocurrency can provide investors with diversification.
• Investing in crypto ensures pseudonymous transactions, which signifies that although your wallet address acts as a distinctive identifier on the blockchain, no personal data is stored there. Hence, there is control over how much of your personal information is stored in unknown databases.
👎 Cons
• The price of cryptocurrencies can suddenly become volatile without notice.
• High energy use for mining operations and criminal activity.
• Due to the pseudonymous nature of transactions, illegal uses are possible.
• Off-chain security concerns and costs are highly unstable.
FAQs
How can I buy crypto in Nairobi?
Research and sign up with a regulated crypto exchange in Nairobi, select Buy / Sell on the website or application, click the Buy panel to select the asset you'd like to purchase, and choose the available payment option to complete the process.
Is Cryptocurrency Legal in Nairobi?
Yes. Cryptocurrency trading is authorized, but there is no logical legal framework or clear communication of rules on cryptocurrency operations.
Is Binance legal in Nairobi?
Yes. Traders can use Binance to carry out crypto transactions. But technically, since Binance lacks the permit to operate in Kenya, it is partially illegal as they do not have plans to acquire any regulatory authorizations in Kenya.
How do I withdraw cryptocurrency in Nairobi?
Log in to your cryptocurrency exchange, select the "Withdraw," "Send," or "Transfer" option, enter the recipient's information, choose the cryptocurrency and amount, and make sure the address is correct because cryptocurrency transactions are irreversible. Enter any necessary passwords, 2-factor authentication (2FA) codes, or other security measures to confirm the transaction.
Methodology for compiling our ratings of crypto exchanges
Traders Union applies a rigorous methodology to evaluate crypto exchanges using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Exchanges are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Exchanges are assessed based on the variety, quality, and features of platforms offered to clients.
Extra services. Unique value propositions and useful features that provide traders with more options for yield generation.
Other factors like brand popularity, client support, and educational resources are also evaluated.
Glossary for novice traders
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Broker
A broker is a legal entity or individual that performs as an intermediary when making trades in the financial markets. Private investors cannot trade without a broker, since only brokers can execute trades on the exchanges.
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Cryptocurrency
Cryptocurrency is a type of digital or virtual currency that relies on cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies operate on decentralized networks, typically based on blockchain technology.
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Trading
Trading involves the act of buying and selling financial assets like stocks, currencies, or commodities with the intention of profiting from market price fluctuations. Traders employ various strategies, analysis techniques, and risk management practices to make informed decisions and optimize their chances of success in the financial markets.
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Bitcoin
Bitcoin is a decentralized digital cryptocurrency that was created in 2009 by an anonymous individual or group using the pseudonym Satoshi Nakamoto. It operates on a technology called blockchain, which is a distributed ledger that records all transactions across a network of computers.
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Investor
An investor is an individual, who invests money in an asset with the expectation that its value would appreciate in the future. The asset can be anything, including a bond, debenture, mutual fund, equity, gold, silver, exchange-traded funds (ETFs), and real-estate property.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Rinat Gismatullin is an entrepreneur and a business expert with 9 years of experience in trading. He focuses on long-term investing, but also uses intraday trading. He is a private consultant on investing in digital assets and personal finance. Rinat holds two degrees in Economy and Linguistics.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).