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How to Buy Crypto with Bank of Baroda in Kenya

Last updated on November 12, 2023

Quick Summary: While Bank of Baroda 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 Baroda Homepage

As mentioned in my quick summary, like most Kenya banks, Bank of Baroda 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.

Thankfully there are many crypto exchanges to pick from that allow you 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 Baroda

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

1. Pick a cryptocurrency trading platform

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 cryptocurrency

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 Baroda.

Buy Crypto With Coinbase

About Bank of Baroda

The bank was established by Maharaja of Baroda Maharaja Sayajirao Gaekwad III on 20 July 1908. The bank as well as thirteen other commercial banks in India was nationalised on the 19th of July, 1969 through the Government of India and has been designated as a profitable publicly-owned undertaking (PSU).

Bank of Baroda, India began its glorious journey of it’s Overseas Operations on 14th December 1953, when it opened an account in Makadara Road, Mombasa in Kenya.

A second branch was established in Digo Road in Mombasa. Then, in 2002, Makadara Branch was joined with Digo Road Branch, Mombasa.

On January 21, 1992, its subsidiary Bank of Baroda (Kenya) Ltd was incorporated with 86.70 percent stake in the Bank of Baroda, India and 43 local shareholders comprise the remaining 13.3 percent.

In the past seven years, banks have been able to establish itself as a leading company in the market with a strong public image and a high level of customer trust.

The Bank operates through 14 branches spread across the country in strategically placed areas, including Nairobi (6 branches), Mombasa, Kisumu, Eldoret, Nakuru, Kakamega, Thika, Nyali and Meru.

Bank is providing all banking services to its customers, backed by transaction-based banking, Internet Banking RTGS (Domestic) as well as available to provide cross-border RTGS between East African Countries through East African Payment System (EAPS) Mpassbook, debit card mobile banking, etc.