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How to Buy Bitcoin in Kenya using Binance P2P

2020-11-11

The Binance P2P marketplace makes it easy to buy and sell Bitcoin and other cryptocurrencies in Kenya. You can convert your KES into BTC in a fast, easy, and secure way without paying fees.

First, you’ll need a Binance account. If you don’t have one, you can create it on Binance.com. It can also be done by downloading the Binance Desktop Client or using the Binance App – available for iOS and Android. To buy Bitcoin with KES, you need to complete level 2 identity verification (Know Your Customer/KYC). Getting verified will increase your account’s security and your daily withdrawal limits.

Next, add at least one payment method. Binance P2P now supports over 300 payment methods, including M-PESA. 

That’s it - you are now ready to buy and sell crypto on Binance!

Buying Bitcoin in Kenya via Binance P2P

Trading with Binance P2P is easily accessible via the Binance App. Here is how you can buy Bitcoin with the Kenyan shilling.

Step 1: Login and find the Binance P2P marketplace

  1. Open the Binance App and select [P2P Trading].

  2. Click the [Buy] tab and select BTC.

  3. Click the filter icon at the top right of your screen and select the Bank payment method and the KES currency to purchase the crypto. Then, tap [Confirm].

Step 2: Find the best offer

  1. You’ll see a list of available offers with different prices and payment methods. Pick the one that works best for you.

  2. Enter the amount of BTC you wish to purchase or the amount of KES you want to spend.

  3. Transfer the money directly to the seller based on the seller’s payment information provided within the payment time limit. You can use the chat box to communicate with the seller.

  4. Make sure that you send the money to the right person. Tap on [Transfer next] when you are ready.

Step 3: Receive your Bitcoin

  1. Tap on [Confirm]. Please do not click if you have not made any transactions yet. Doing that will violate the P2P User Transaction Policy.

  2. The status will change to [To be released]. Now you just need to wait for the seller to release your crypto assets.

  3. Congratulations! You have completed a trade, and your Bitcoin will soon land in your Binance account! 

Still have questions? Check out How to Buy Cryptocurrency on Binance P2P (App)?

Selling Bitcoin With Kenyan Shilling

Binance P2P is a great way to sell your Bitcoin for fiat. The platform allows you to choose between multiple buyers. Follow these easy steps to sell your Bitcoin.

Step 1: Login and find the Binance P2P marketplace

  1. Open the Binance App. Click [P2P Trading].

  2. Choose the Sell tab and select BTC. Tap the filter icon in the top-right part of your screen.

  3. Select the Bank payment method and KES as a currency. Then, tap [Confirm].

Step 2: Find the best offer

  1. You’ll see a list of available offers with different prices and payment methods. Pick the one that works best for you and click on [Sell].

  2. Enter the quantity you want to sell, select a payment method, and click on [Sell BTC].

  3. Wait to get the payment in KES in your Bank account. You can use the chat box to communicate with the buyer.

Step 3: Receive your Kenyan shilling

  1. After you confirm the receipt of money from the buyer, tap [Release BTC].

  2. Tap [Confirm] to release the crypto to the buyer’s account.

  3. Congratulations, you have cashed out your Bitcoin!

Posting ads on Binance P2P

On the Binance P2P platform, you can post your trade ads and set the prices and payment methods you prefer.

Step 1: Login and find the Binance P2P marketplace

  1. Open the Binance App. Select [P2P Trading].

  2. Click the [...] button on the top right of the P2P trading page and select [To Advertisement mode].

  3. When you are in the advertising mode, click on [Ads] at the bottom.

  4. Click the [+] button on the top right. 

Step 2: Set up your ad 

  1. Set the ad type (buy or sell), crypto asset, the fiat currency for the ad, and select the price type. You can choose either [Floating] pricing or [Fixed] pricing.

  2. Set the total trading amount and order limit, and add no more than three payment methods. 

  3. Provide additional information for your advertisement, such as auto-reply and counterparty conditions.

Step 3: Post your ad

  1. Pass 2-factor authentication (2FA)

  2. Congratulations, you have successfully published your ad!

Further reading:

Buy Bitcoin in Kenya via M-Pesa

How Does Binance P2P’s Escrow Service Work?

Tips to Protect your Bitcoins and Avoid Scams