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How to Buy Crypto with Prime Bank in Kenya

Last updated on November 12, 2023

Quick Summary: While Prime 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.

Prime Bank Homepage

As mentioned in my quick summary, like most Kenya banks, Prime Bank 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 cryptocurrency trading platforms 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 Prime 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 Prime Bank.

Buy Crypto With Coinbase

About Prime Bank

Prime Bank Ltd is one of the top privately owned banks of Kenya and was established in 1992. Serving its customers for more than 30 years, and with 23 branches. Prime Bank has the experience to provide customized, efficient, and flexible services.

Over time through the years, the Bank has grown the business of different African countries , including Malawi, Botswana, Mozambique, Zambia, and in Zimbabwe which recently bought Barclays Bank of Zimbabwe through its affiliated Bank First Capital Bank.

As of 2017, the company bought 80.72 percent of the shares in Tausi Assurance Limited.

In the year 2018 the Bank offered an investment that was well-received by loyal customers as well as staff members with long-standing experience. The private placement raised more than KShs. 2 Billion.

The Bank has also joined forces with investors who are new to the market. Afric Invest Azure SPV, which is a Special Purpose Vehicle that was jointly established with Afric Invest and Catalyst Principle Partners which holds a 24.2 percent of the Bank.

The equity managers have world-renowned and have established business relations in international finance organizations (DFIs) including International Finance Corporation (IFC), PROPARCO, European Investment Bank (EIB), CDC Group, International Pension Fund (IPF), African Development Funds among others.

The capital injection also strengthens the capital base of the Bank to help expand the regional and local network and services, optimization of services, the introduction of new products and services, and further digitalization of their operations and offering improved services to their customers.

In the course of time in the past, over time, the Bank has developed strong relationships with international organisations to allow it to offer long-term forex-related financing to its customers. These partners include: PROPARCO, French DFI, European Investment Bank, The Bank also has correspondent relations with various banks across the world to help its clients to meet their international business requirements.