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How to Buy Crypto with Cooperative Bank of Kenya

Last updated on November 12, 2023

Quick Summary: While Cooperative Bank of Kenya 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.

Cooperative Bank of Kenya Homepage

As mentioned in my quick summary, like most Kenya banks, Cooperative Bank of Kenya doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a cryptocurrency exchange 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 Cooperative Bank

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

1. Pick a crypto 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 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 Cooperative Bank of Kenya.

Buy Crypto With Coinbase

About Cooperative Bank of Kenya

Co-operative Bank of Kenya is commercial bank located in Kenya the country with the most economic growth within the East African Community. It is authorized to operate by Kenya’s Central Bank of Kenya, the central bank as well as the national regulator of banks.

The bank has introduced an Agency banking, and has a large client base in Kenya that includes more than 7.5 million accounts in December 2018. In 2010 the bank was named “Best Bank of Kenya” by the London Financial Times due to the rapid growth they experienced.

The bank is able to meet the needs of individual customers as well as small and large corporations, and focuses on the requirements for cooperatives in Kenya. Cooperative Bank is a large financial institution.

The bank was founded in 1966. It was initially co-operative society. The bank’s license was issued in 1968. The Kenya Government instructed all cooperative societies across Kenya to move their funds in the direction of the Co-operative Bank of Kenya and that all cooperatives purchase the shares of the bank. The bank was established in 1977. established its first subsidiary, Cooperative Finance Limited.

It was in 1989 that the company changed to a full-fledged commercial bank and expanded its product range. In 1998 , the headquarters of the bank moved after the destruction of the premises by a bomb that struck close to the Embassy of the United States of America. The was the same year that it also became an agent for the money transfer service firm MoneyGram.

In March of 2020 the bank announced plans to purchase Jamii Bora Bank. Co-operative Bank acquired Jamii Bora Bank and changed its name into Kingdom Bank Limited.