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How to Buy Crypto with National Bank of Kenya

Last updated on November 12, 2023

Quick Summary: While National 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.

National Bank of Kenya Homepage

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

There are a large number of crypto exchanges 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 National Bank of Kenya

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 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 National Bank of Kenya.

Buy Crypto With Coinbase

About National Bank of Kenya

National Bank of Kenya (NBK) Also called National Bank, is a commercial bank located in Kenya the biggest economy of the East African Community. It is authorized to operate by Kenya’s Central Bank of Kenya, the central bank, as well as the nation’s banking regulator. In September of 2019, it has become an entirely owned affiliate to Kenya Commercial Bank Group. Kenya Commercial Bank Group.

NBK is a significant financial services company in Kenya that serves individuals as well as small-to-medium-sized businesses (SMEs) as well as large corporations. Based in Nairobi the bank is owned by one subsidiary company called NatBank Trustee and Investment Services Limited. In December 2018, the National Bank of Kenya’s total assets was estimated to be around US$1.122 billion (KES:115.143 billion) and equity of shareholders worth approximately US$67.6 millions (KES:6.936 billion). Following the acquisition of parts of NBK by KCB Group in September 2019 The share of NBK were removed from Nairobi Securities Exchange on 16 September 2019. Nairobi Securities Exchange on 16 September , 2019.

The bank was founded in 1968 as a 100% percent government-owned institution. In 1994 the Kenyan government reduced its stake to 68 percent through the sale of 32 percent of its shareholding to the general public. The government also divested from NBK through the years to a current shareholding of 22.5 percent in April 2019. After 12 years of performance in its financials The bank began to earn profit in the year 2010 when it paid annually dividends ever since.

In April, KCB Bank Kenya Limited which is the largest commercial bank in Kenya by assets, declared it was planning to purchase 100% of the liabilities and assets of the National Bank of Kenya, subject to shareholder and regulatory approvals. The acquisition was concluded on September 16, 2019.