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How to Buy Crypto with Gulf African Bank in Kenya

Last updated on November 12, 2023

Quick Summary: While Gulf African Bank 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.

Gulf African Bank Homepage

As mentioned in my quick summary, like most Kenya banks, Gulf African Bank 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 trading platforms to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Once you’ve signed up to a crypto exchange (in our example I’ll be using Coinbase as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with Gulf African Bank

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

1. Pick a crypto 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 Gulf African Bank.

Buy Crypto With Coinbase

About Gulf African Bank

Gulf African Bank (GAB) which is the full form of Gulf African Bank Limited, is an commercial bank in Kenya that operates within an Islamic banking system. It is authorized through the Central Bank of Kenya, the national bank and central regulator of banks.

The origins of the bank can be traced back to a group driven Kenyans who had a vision of the idea of an Islamic bank as an alternative to traditional banking in the year 2005. The bank would operate in accordance with Shari’ah principles and offer ethical and fair banking service for everyone. The bank could leverage strong connections to Africa and the Gulf as well as Africa to create a pathway for lucrative investments in Kenya and the name of the bank will bear the emblem of the partnership the Gulf African Bank.

They were one of the very only Islamic Bank in Kenya established on the 9th of August 2006 and went into full operation on January 8th, 2008 as the first commercial bank with a full fledged license issued by the Central Bank of Kenya as an exclusive Islamic bank.

Since 2008, they’ve been a key part of the development of Kenya’s banking sector, providing an all-in-one financing and business development centre to companies as well as small and medium-sized businesses (SMEs) and retail sectors. They are dedicated to accelerate the growth of the banking sector which will result in economic growth.

Gulf African Bank (GAB) is a top SME lender in Kenya that operates on Shari’ah principles. GAB is an SME focused financial partner who is there to help you ensure that your business expands. They actively contribute to the growth of the SME sector, providing single-stop finance and business development solutions to help speed up the growth of the sector in your company as well as the country.