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How to Buy Crypto with Kenya Commercial Bank

Last updated on November 12, 2023

Quick Summary: While Kenya Commercial 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.

Kenya Commercial Bank Homepage

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

Thankfully there are many cryptocurrency exchanges 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 KCB

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 Kenya Commercial Bank.

Buy Crypto With Coinbase

About Kenya Commercial Bank

KCB Bank Kenya Limited is a financial service provider with its headquarters located in Nairobi, Kenya. They are licensed to operate as commercial institution through the Central Bank of Kenya, the nation’s banking regulator. The bank also has operated a model of Agency banking.

KCB Bank Kenya roots trace back to the month of July in 1896, when the subsidiary company KCB Group, was established as an extension from the National Bank of India in Mombasa. The year 1958 saw Grindlays Bank merged with the National Bank of India to create The National and Grindlays Bank. After independence following independence, Kenya’s Government of Kenya acquired 60 percent stake in the National & Grindlays Bank. In the year 1970, the Kenyan Government assumed full control over the bank and changed its name in the name of Kenya Commercial Bank Group.

KCB Bank Kenya, as it is known today as of 2015, was established due to the restructuring of the corporate structure that was undertaken by Kenya Commercial Bank Group (KCB Group). Before 2015 KCB Group was both a licensed bank as well as the holding firm for subsidiary companies. This was in accordance of the Kenya Finance Act No.57 of 2012. KCB Group Limited announced, in April of 2015 that it would incorporate an entirely owned subsidiary company, KCB Bank Kenya Limited and move its Kenyan banking assets and liabilities. The reorganisation transformed KCB Group Limited into a non-trading holding firm that has both non-banking and banking subsidiary companies.

In the year 2016, KCB Group PLC was registered as a non-operating holding corporation to oversee and manage all KCB regional divisions located in Kenya, Tanzania, South Sudan, Uganda, Rwanda, Burundi and Ethiopia. In the year 2019, KCB Group PLC acquired National Bank of Kenya.

KCB Bank Kenya received both Kenya’s Best Bank 2021 award and Africa’s Most Responsible Bank at the Euromoney Awards for Excellence. The bank was recognized as the top bank in Customer Service in Kenya as well as the Most Innovative Bank in Kenya by the 2021 Global Brands Magazine Awards.