How to Buy Crypto with NIC Bank in Kenya

Last updated on November 12, 2023

Quick Summary: While NIC 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.

NIC Bank Homepage

As mentioned in my quick summary, like most Kenya banks, NIC 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.

There are a large number of crypto exchanges that you can use 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 NCBA

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 NIC Bank.

Buy Crypto With Coinbase

About NIC Bank

NCBA Bank Kenya, whose full name is NCBA Bank Kenya Plc, is a commercial institution in Kenya. It is accredited through Kenya’s Central Bank of Kenya, the central bank of the country and also the country’s banking regulator.

The headquarters of the bank is located in the NCBA Centre located situated at the intersection between Mara Road and Ragati Road in the neighborhood known as Upper Hill, in Nairobi the capital city of Kenya.

NCBA Bank Kenya is a subsidiary of NCBA Group Plc, a major financial services company across East Africa, and parts of West Africa. Its headquarters are at Nairobi, Kenya. NCBA Group Plc owns subsidiary businesses that operate in Kenya, Uganda, Tanzania, Rwanda and the Ivory Coast. In September of 2019 the NCBA Bank’s total assets base was estimated at around KSh487.8 billion (US$4.88 billion). At the moment, it third by assets total and was ranked following KCB Bank Kenya Limited and Equity Bank Kenya Limited.

At the time of 28 February 2020 NCBA Bank Kenya maintained the network of 64 branches and five banks in Kenya. NCBA Bank’s collaboration with Kenya Post Office Savings Bank allows cash collection services to its customers via Postbank’s network that includes 94 branches across Kenya.