How to buy crypto (Bitcoin) with National Bank of Kenya?
Crypto is hugely popular in Kenya! Follow the steps in this article & find out how you can buy crypto with your bank account at the National Bank of Kenya.
How to buy crypto at National Bank of Kenya?
Step 1: sign up with a crypto exchange
The National Bank of Kenya does not yet offer crypto itself. However, by linking your bank account to a crypto exchange, you can still buy Bitcoin without any problems. Open an account with one of the crypto exchanges below:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with National bank Kenya after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Step 2: verify your account
Before you can start investing in crypto, you must first verify your account. You verify your account by uploading a copy of your passport and proof of address. After these documents are approved, you can deposit your funds and start trading.
Step 3: deposit money from National Bank of Kenya
You can deposit funds directly using your National Bank of Kenya bank account or credit card. Kindly note that it will take several working days for the money to appear in your crypto account. You are only allowed to deposit money using a bank account in the same name as your crypto account.
Step 4: buy crypto at National Bank of Kenya
You are now all set to buy your first crypto from National Bank of Kenya. Select the crypto you want to invest in and press buy. Then enter the amount you aim to invest and press the buy button to send the order directly to the crypto exchange.
Normally, the order is executed immediately. Depending on volatility, it can sometimes take a few seconds before the order is filled. When the market moves too fast, you sometimes pay just a bit more or less than expected. By using a limit order, you can be sure you won’t pay more than the price you set yourself.
After you open a crypto position, regularly evaluate your investments. When you no longer think the investment suits you, you can sell it immediately and transfer your money back to your bank account at National Bank of Kenya.
What is National Bank of Kenya’s stance on crypto?
National Bank of Kenya does not block transactions to crypto exchanges. Crypto investments are therefore very popular in Kenya. If you select a reliable crypto exchange, you should have no problems with investing through the National Bank of Kenya.
Recently, National Bank of Kenya did start warning customers about the potential risks of crypto investments. They indicate that Bitcoin is not a legal tender and that it is risky to invest in crypto. This is good advice; therefore, consider for yourself whether crypto investments suit you.
About National Bank of Kenya
The National Bank of Kenya (BNK) is also known as National Bank. It is wholly owned by the Kenya Commercial Bank Group and is the largest bank within the East African community.
BNK is headquartered in Nairobi, which is the capital of Kenya. Following the acquisition of National Bank of Kenya by KCB Group in September 2019, its shares are no longer tradable on the Nairobi Stock Exchange. Founded in 1968, the bank was initially fully government-owned. Nowadays, however, the bank is fully privately owned.
Can you buy Bitcoin from National Bank of Kenya?
National Bank of Kenya itself does not directly sell Bitcoin & other crypto. However, you can still invest in crypto without any problems by linking your bank account to a crypto exchange. Right at the beginning of the article, you will find a list of the best crypto exchanges you can use.