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How to Buy Crypto with Bank of Africa in Kenya

Last updated on November 12, 2023

Quick Summary: While Bank of Africa does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of Kenya cryptocurrency exchanges to pick from, but we suggest using the Coinbase exchange.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

Bank of Africa Homepage

As mentioned in my quick summary, like most Kenya banks, Bank of Africa doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto trading platform and comes with regulations and extra work for the banks.

There are a large number of crypto trading platforms that you can use to buy Bitcoin and other cryptocurrencies.

Next you’ll want to sign up to an exchange (for this short guide I’ll use Coinbase as it’s a global and widely used exchange) and deposit funds so you can start trading crypto.

How to buy crypto or bitcoin with Bank Of Africa

Let’s get started! Just follow our 4 quick steps.

1. Pick a cryptocurrency exchange

As mentioned above, I’ll be using Coinbase for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With Coinbase

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For Coinbase there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy crypto

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Bank of Africa.

Buy Crypto With Coinbase

About Bank of Africa

Bank of Africa Kenya Limited (BOA Kenya), is an commercial bank in Kenya. It is among the commercial banks that have been licensed by the Central Bank of Kenya, the central bank of Kenya and the regulator of Kenya’s national banking system.

BOA Kenya is a mid-tier bank that is ranked 15th of the commercial banks of Kenya as per the CBK. The bank offers financial services for corporate SME clients as well as the retail market. The bank started operation within Kenya in July of 2004 following the acquisition of Kenyan branch of Kenyan Branch from Credit Agricole Indosuez, a huge international French bank that operated in the country for more than 20 years.

The bank boasts a large branch network that includes 24 branches throughout the country and Business Centers located in Nairobi situated on BOA House, Karuna Close located off Waiyaki way, Westlands.

Each branch is connected and function in real-time. This allows their customers to effortlessly and quickly conduct business from any branch across the country.. At the end of December, 2019, the total assets were worth KES:43.996 billion (US$403.27 million) and equity for shareholders of KSh4.28 billion (approx. USD39.2 million. The customer base of the bank was greater than 100,000 as of March 2016.

The Bank has its roots in Calyon Bank (formally Credit Agricole Indosuez) that was established in 1981. In April of 2004, Groupe Bank of Africa (BOA Group) bought all the activities of Credit Agricole Indosuez in Kenya and incorporated them into their newly-formed BOA Kenya, its subsidiary. BOA Kenya. This acquisition was completed on June 30th in 2004.

BOA Kenya is governed by an ten-member board of directors comprising Dennis Awori as Chairman and Ronald Marambii as the Managing Director.