Kenya ranks among the top 20 countries globally for peer-to-peer (P2P) crypto trading, with platforms like M-Pesa fuelling seamless transactions.

If you’re a beginner looking to buy Bitcoin safely and legally in Kenya, this guide walks you through the process using mobile money (M-Pesa), P2P platforms like Paxful and Binance, and local exchanges like Yellow Card.

We’ll cover fees, KYC requirements, and essential safety tips to avoid scams to enhance your experience.

Why Buy Bitcoin in Kenya?

Bitcoin’s popularity in Kenya is soaring, with 8.5% of the population (over 4 million people) owning crypto, according to the United Nations Conference on Trade and Development (UNCTAD).

Its decentralised nature, potential for high returns, and integration with mobile money like M-Pesa make it an attractive investment.

However, navigating crypto exchanges requires caution to stay safe and compliant with Kenya’s evolving regulations. This step-by-step guide ensures you can buy Bitcoin securely using trusted platforms.

Step-by-Step Guide to Buying Bitcoin in Kenya

Step 1: Choose a Trusted Crypto Platform

Selecting a reputable platform is critical for safe Bitcoin purchases. Here are three top options for Kenyans:

• Paxful (P2P): A peer-to-peer marketplace connecting buyers and sellers directly. It supports over 400 payment methods, including M-Pesa, with no buyer fees.
• Binance P2P: The world’s largest crypto exchange, offering P2P trading with M-Pesa and low fees (0% for makers, 0.1–0.25% for takers).
• Yellow Card: A local African exchange designed for beginners, supporting M-Pesa and bank transfers with competitive rates.

READ ALSO:

Crypto 101 for Kenyans: What Is Cryptocurrency and How It Works

Step 2: Create and Verify Your Account

All platforms require an account and compliance with Know Your Customer (KYC) regulations to ensure legal trading:

• Paxful: Sign up with your email or phone number and complete KYC by uploading a government-issued ID (passport, national ID, or driver’s license). Some sellers may request a selfie with ID for added security.
• Binance P2P: Register on the Binance app or website, then complete Level 2 KYC with ID and proof of address. This increases withdrawal limits and enhances security.
• Yellow Card: Create an account via the mobile app or web, verify your email/phone, and submit ID for KYC. A Bitcoin wallet is automatically assigned upon signup.

KYC Requirements: Most platforms in Kenya mandate KYC to comply with Anti-Money Laundering (AML) laws. Expect to provide ID and sometimes proof of address. Transactions under $150 on some platforms (e.g., Changelly) may skip KYC, but this increases scam risks.

Step 3: Fund Your Account with M-Pesa

M-Pesa, Kenya’s leading mobile money service, is widely supported for crypto purchases:

• Paxful: Select “Buy Bitcoin”, filter for M-Pesa as the payment method, and choose a seller with high ratings (e.g., Ambassador or Associate status). Transfer funds via M-Pesa to the seller’s number as per their terms.
• Binance P2P: In the Binance app, go to “P2P Trading”, select “Buy” and “BTC”, filter for M-Pesa and KES, then send payment to the seller’s M-Pesa account within the time limit.
• Yellow Card: Choose “Deposit” on the dashboard, select M-Pesa, and send funds to the displayed number. Funds reflect in your wallet after confirmation.

Fees:

• Paxful: No buyer fees; sellers pay 1%.
• Binance P2P: 0% for makers, 0.1–0.25% for takers.
• Yellow Card: Minimal fees, varying by transaction size (typically 0.5–1.5%).

Step 4: Buy Bitcoin

Once your account is funded or you’ve selected a seller:

• Paxful: Agree on trade terms with the seller, enter the amount of Bitcoin to buy, and click “Buy Now.” After sending M-Pesa payment, mark it as “Paid.” The Bitcoin is held in escrow until the seller confirms payment, then released to your Paxful wallet.
• Binance P2P: Choose a seller with a competitive rate, enter the KES or BTC amount, and transfer funds via M-Pesa. Confirm the transfer in the app, and the seller releases Bitcoin to your Binance wallet . It’s that simple!
• Yellow Card: Select “Buy Bitcoin” on the dashboard, enter the amount in KES, and confirm. Bitcoin is credited to your wallet instantly.

Step 5: Secure Your Bitcoin

After purchasing, transfer your Bitcoin to a secure wallet for safety:

• Software Wallets: Use mobile apps like Trust Wallet or Coinbase Wallet for convenience.
• Hardware Wallets: For maximum security, store Bitcoin in a cold wallet like Ledger or Trezor, keeping private keys offline.
• Platform Wallets: Paxful and Yellow Card provide built-in wallets, but avoid leaving large amounts on exchanges due to hacking risks.

Fees to Expect

• Paxful: No fees for buyers; sellers pay 1%. Watch for high seller premiums that may increase costs.
• Binance P2P: Free for makers; takers pay 0.1–0.25% based on volume.
• Yellow Card: Fees range from 0.5–1.5%, depending on transaction size. Network fees apply for blockchain transfers.
• M-Pesa Fees: Standard M-Pesa transaction fees (e.g., KES 30–200) may apply when funding accounts. Check Safaricom’s fee structure for exact costs.

Safety Tips to Avoid Crypto Scams

Kenya’s high crypto adoption comes with scam risks. Protect yourself with these tips:

1. Choose Reputable Platforms: Stick to trusted exchanges like Paxful, Binance, or Yellow Card with strong security (e.g., 2FA, escrow services).
2. Verify Seller Ratings: On P2P platforms, trade with sellers who have high ratings (90%+ positive feedback) and verified status (e.g., Paxful’s Ambassador tier).
3. Avoid Off-Platform Deals: Never send payments outside the platform’s escrow system, as there’s no protection if the seller disappears.
4. Beware of Unrealistic Offers: Avoid deals with suspiciously low Bitcoin prices, as they’re often scams. Compare rates across platforms.
5. Enable Security Features: Use two-factor authentication (2FA) and email alerts. Store Bitcoin in a personal wallet, not on the exchange.
6. Check Regulatory Compliance: Ensure the platform complies with Kenya’s AML/KYC laws to avoid legal issues.
7. Research Before Investing: Understand Bitcoin’s volatility and consult local experts or the Capital Markets Authority (CMA) for regulatory updates.

READ ALSO:

Is Crypto Legal in Kenya? Here’s What You Should Know

Legal Considerations in Kenya

Bitcoin and cryptocurrencies are legal but unregulated in Kenya as of 2025. The Central Bank of Kenya (CBK) and CMA advise caution due to volatility and fraud risks.

The Finance Act 2023 introduced a 3% tax on crypto transactions, and a proposed Virtual Asset Service Providers Bill may impose stricter rules.

Always use KYC-compliant platforms to stay within the law. Consult a local legal expert for the latest regulations.

Start Your Crypto Journey Today

Buying Bitcoin in Kenya is easier than ever with mobile money and trusted platforms like Paxful, Binance P2P, and Yellow Card.

By following this guide, you can navigate fees, meet KYC requirements, and avoid scams while joining Kenya’s thriving crypto community. Ready to get started? Sign up for a platform, fund your account with M-Pesa, and secure your Bitcoin in a safe wallet today!

Join the Crypto Revolution in Kenya
Share this guide with friends, explore more crypto tips on our site, and stay updated on Kenya’s crypto regulations.

Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, and digital finance at Africa Digest News.