Best crypto friendly banks in Kenya
Kenya is in the process of embracing the use of cryptocurrencies as a means of exchange and investment. As a result, many banks in Kenya are becoming crypto-friendly.
The most effective and quick way to fund any crypto exchange in Kenya is through peer-to-peer trading using M-Pesa and bank cards.
Here are some of the best crypto friendly banks in Kenya:
Standard Chartered Bank
Standard Chartered Bank is a multinational bank with a presence in Kenya. The bank does not provide any means of investing in cryptocurrencies and currently, Standard Chartered Bank does not allow the purchase of cryptocurrencies.
You can make use of a digital-asset exchange if you wish to purchase cryptocurrency with Standard Chartered. Bybit is the most effective way to purchase Bitcoin using a Standard Chartered Bank account.
Bank of Africa Kenya
Bank of Africa Kenya does not offer crypto services. While it is mentioned in an article about buying Bitcoin with a Kenyan bank card, the bank’s official website and other sources do not provide any information about it offering crypto services. Additionally, the Central Bank of Kenya has expressed disapproval of the use of cryptocurrency within the country. Therefore, it is important to verify the information from official sources before assuming that the bank offers such services.
For more information, you can visit the Bank of Africa Kenya’s official website or contact their customer service directly.
ABC Bank
You can successfully buy bitcoin with an ABC Bank card on a platform like Itez. Itez is a licensed operator with a license from an Estonian financial regulator to sell and store bitcoins.
Bank of Baroda
You can buy bitcoin from the Bank of Baroda card on Itez. However, you should conduct thorough research on any crypto exchange before taking any risk. There are many scammers online, and you are responsible for any financial decision you make.
KCB Bank
KCB Bank is one of the largest banks in Kenya and is still in the process of embracing the use of cryptocurrencies. However, you can bypass all limitations by transferring your money on M-Pesa, from where you can easily fund any crypto exchange of your choice through peer-to-peer means.
Equity Bank
Equity Bank is another large bank in Kenya that is in the process of embracing the use of cryptocurrencies. You can fund your cryptocurrency exchange through a visa card, Mastercard, or PayPal. You can also transfer funds to an M-Pesa wallet to fund a crypto exchange through peer-to-peer trading.
Co-operative Bank of Kenya
The Co-operative Bank of Kenya is another crypto-friendly bank in the country. The bank currently does not support the option to purchase cryptocurrencies directly on their platforms. However, you can deposit GBP into an FCA-licensed exchange like uphold. The bank does not currently support transactions going into exchanges like Binance. This is a measure to protect its customers.
In conclusion, the majority of Kenyan banks have not yet adopted cryptocurrency trading due to the risk involved, and the volatility of cryptocurrencies. This is a stick measure to protect their customers and themselves.
In summary, the best crypto friendly banks in Kenya include:
- Standard Chartered Bank
- Bank of Africa Kenya
- ABC Bank
- Bank of Baroda
- KCB Bank
- Equity Bank
- Co-operative Bank of Kenya
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