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How to make Money with Bitcoin in Kenya

How to make Money with Bitcoin in Kenya revealed. We tested the best way to make money with Bitcoin for Kenyan Traders.

This is a complete guide to making money with Bitcoin in Kenya.

In this in-depth guide youโ€™ll learn:

  • What is Bitcoin trading?
  • Which crypto brokers offer the best trading platforms for Kenyan traders?
  • Which trading platforms can you use with M-PESA?
  • How toย compare the bestย trading platforms against each other.ย 
  • Which Trading Platforms are best for beginner Kenayn Traders?ย 
  • Which brokers offer a sign-up bonus for first-time traders in Kenya?ย 
  • Which brokers offer a low minimum deposit of $5 (583 KES) to start trading?ย 
  • Which trading platforms offer a mobile app on IOS and Android for Kenyan Traders?ย 


And lots moreโ€ฆ

So if youโ€™re ready to go โ€œall inโ€ with the best-tested way to make money with Bitcoin in Kenya…

Letโ€™s dive right inโ€ฆ

Updated : August 31, 2022

Is Cryptocurrency a Sound Investment?

๐Ÿ‘‰ Cryptocurrency is a digital currency, and unlike conventional cash, it only exists electronically and is not backed by the government. Experts advocate investing no more than 1 to 3% of your entire liquid assets in cryptocurrencies.

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๐Ÿ‘‰ That is, only invest funds that you can afford to lose as there is no assurance that the value of cryptocurrencies will grow, either overnight or over time. However, the reverse has occurred in recent years.

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๐Ÿ‘‰ Despite this, there is a positive outlook as declining prices might give an excellent buying opportunity. Intuition may warn you to avoid a depreciating investment, but as prices fall, you could get more cryptocurrency for less money.

How to make Money with Bitcoin in Kenya

How to make Money with Bitcoin in Kenya

๐Ÿ‘‰ No one anticipated Bitcoin’s meteoric rise in terms of value and appeal, along with other cryptocurrencies such as Ethereum, Monero, and Maker, when it was originally released.

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๐Ÿ‘‰ If you are wondering how to earn money with Bitcoin and if it is too late to get on the Bitcoin-spawned money-making train, we have outlined a few ways that you may utilize Bitcoin to generate cash in Kenya.

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Mining Bitcoin

๐Ÿ‘‰ Bitcoin Mining is a common method of profiting from Bitcoin. Here, using Blockchain technology, you may inject new blocks into the Bitcoin network by solving cryptographic problems.

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๐Ÿ‘‰ The more riddles you solve, the greater your potential rewards from Bitcoin. There are a few primary methods for mining Bitcoin in Kenya namely mining pools, ASIC, GPU, CPU, and Cloud Mining.

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Mining Pools

๐Ÿ‘‰ You could start miningย Bitcoin on your own but doing so is seldom advisable. Earning block rewards is far more difficult while mining alone.

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๐Ÿ‘‰ Therefore, mining pools are a realistic choice for Kenyan merchants. A mining pool is a group of cryptocurrency miners, and these individuals combine their computing capabilities across a network to increase the likelihood of discovering a block or otherwise mining for cryptocurrency effectively.

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๐Ÿ‘‰ Individually, mining pool members donate their computing power to the search for blocks. The pool receives a pay-out, often in the form of the linked cryptocurrency, if its efforts are successful.

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๐Ÿ‘‰ Typically, rewards are distributed among contributors in proportion to the processing power or amount of labour performed by each member in comparison to the whole group. In certain instances, miners must provide evidence of their labour to get their rewards.

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๐Ÿ‘‰ Those who want to generate a profit via cryptocurrency mining have the option of doing it alone with their own specialized equipment or joining a mining pool, in which numerous miners and their machines collaborate to increase the hashing output.

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ASIC Mining

๐Ÿ‘‰ Application-Specific Integrated Circuits orย ASIC are specialized gadgets designed for the exclusive purpose of crypto mining. In comparison to other ways, they generate a substantial quantity of Cryptocurrency, which has contributed to their popularity.

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๐Ÿ‘‰ People sought a ban on these machines when the latest version of ASIC was introduced since they are extraordinarily strong and can steal from miners using CPU or GPU.

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GPU Mining

๐Ÿ‘‰ Every contemporary computer has a CPU and a GPU. As the CPU is the computer’s brain, GPU is the mining equivalent of muscle. GPU mining is now one of the most popular techniques. Typically, all cloud miners have begun using GPU mining equipment for their services.

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๐Ÿ‘‰ This approach is the most popular since it is highly effective and inexpensive, and GPU mining rigs are excellent because of their hash rate and overall power.

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๐Ÿ‘‰ GPU rigs use graphic cards for cryptocurrency mining. A conventional setup requires several components, including a motherboard, CPU, rig frame, cooling, and graphic cards.

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๐Ÿ‘‰ Typically, a decently constructed GPU costs approximately $3000, which sounds like a lot, but it will pay off very quickly.

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CPU Mining

๐Ÿ‘‰ This approach differs from cloud mining in that CPUs are used to mine Bitcoin. It might take months to make even a tiny amount of income with this technique, which has led to a decline in its popularity.

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๐Ÿ‘‰ Due to the prohibitive cost of paying power and cooling bills, there are instances in which the business generates no or extraordinarily little earnings. People continue to practice it since anybody with a desktop computer can do it.

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Cloud Mining

๐Ÿ‘‰ This is the most popular method for mining cryptocurrency because of its simplicity and user-friendliness. In cloud mining, you are required to pay a certain sum of money and rent mining equipment from a third party.

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๐Ÿ‘‰ This rent payment is for a certain duration. After then, the rig’s revenues are sent to your Bitcoin wallet, less the costs of energy and maintenance. The companies that provide cloud mining services have expansive mining facilities with several farms and are adept at mining Cryptocurrency.

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๐Ÿ‘‰ The key reason this strategy has become so popular is that it allows users to access the world of cryptocurrency even if they lack adequate finances to purchase mining rigs or do not want to own one.

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๐Ÿ‘‰ The good news is that cloud mining offers two options namely a free version and a premium one. There are several disadvantages to the free edition, including a poor mining pace and additional requirements.

Trading Bitcoin

Trading Bitcoin

๐Ÿ‘‰ There are millions of individuals trading Bitcoin, and who are profiting from this volatile and fast-paced market. Before they start trading, skilled traders examine the trading charts, research the market, assess the impact of external events, and remain willing to take financial risks.

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๐Ÿ‘‰ Once they see a surge in the value of their current transaction, these traders terminate the position to lock in their profits. The greatest aspect is that you could trade whenever it is convenient for you in the realm of Bitcoin, which is open around the clock.

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๐Ÿ‘‰ Some of the most common trading strategies that Kenyans can consider when trading Bitcoin are discussed below.

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Day Trading

๐Ÿ‘‰ When Kenyan investors purchase and sell a position during the same trading day, the practice is known as intraday trading and goes by both of those names. The fact that you do not have to pay overnight financing costs on your position is the most significant advantage of day trading.

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Trend Trading

๐Ÿ‘‰ Traders that engage in trend trading choose a position that is consistent with the prevailing trend. For instance, if the trend is bullish, you will choose to invest for the long term, but if the trend is bearish, you will make investments for the short term.

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๐Ÿ‘‰ This is because bullish trends tend to lead to higher prices than negative trends do.

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Hedging

๐Ÿ‘‰ Hedging Bitcoin or any other cryptocurrency means establishing transactions in such a way that changes in the value of one position are offset by changes in the value of the other position.

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๐Ÿ‘‰ Hedging is seen as a good method for traders who want to retain their initial Bitcoin holdings while creating a neutral exposure. There are several strategies for achieving a cryptocurrency hedge, but the three most common are:

โžก๏ธ Hedging using Bitcoin CFDs

โžก๏ธ Hedging using Bitcoin Futures

โžก๏ธ Short-Selling Bitcoin

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Hedging using Bitcoin CFDs

๐Ÿ‘‰ CFD trading is a common method of hedging Bitcoin. To establish a position in a derivative product, you would not need to hold the cryptocurrency that the product is based on.

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๐Ÿ‘‰ This implies that you do not have to establish an exchange account or a digital wallet to speculate on the price of Bitcoin.

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๐Ÿ‘‰ One of the advantages of derivatives is the fact that they allow you to take advantage of both rising and declining markets without needing to borrow Bitcoin. The ability to defend against asset losses is critical for hedgers, who must be able to do so.

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๐Ÿ‘‰ Direct hedging is one of several tactics that may be used using derivatives, but it is also one of the most common. At the same time, you will be taking two distinct positions on the same coin.

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Hedging using Bitcoin Futures

๐Ÿ‘‰ Since its introduction in 2017, Bitcoin futures have been traded on both the Chicago Mercantile Exchange (CME) and the Chicago Board of Options Exchange (CBOE).

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๐Ÿ‘‰ An asset, in this instance Bitcoin, is exchanged at a predetermined price on a specified date in the future under the terms of a futures contract. Participants in the cryptocurrency industry see Bitcoin futures as a legitimate means of locking in a price.

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Short-Selling Bitcoin

๐Ÿ‘‰ You could earn from short selling by selling an asset and then buying it back at a cheaper price when the asset’s value decreases, therefore making a profit.

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๐Ÿ‘‰ Even if you are only speculating, short-selling Bitcoin is a frequent way to protect yourself against long-term risk.

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๐Ÿ‘‰ Even if you currently possess Bitcoin, you might want to consider initiating a short position in the digital currency while you minimize your exposure. Having a short position allows you to offset some of your original position’s losses if the market declines.

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Buy and Hold (HODL)

๐Ÿ‘‰ The method is purchasing Bitcoin and keeping them in one’s possession until its value grows. If you want to HODL, you need to have a lot of patience since this kind of trading often requires investments made over a lengthy period.

Long-Term Investing (HODL)

๐Ÿ‘‰ Investing is one of the most common ways to make money using cryptocurrencies, like investing in a company, but there is a minor difference.

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๐Ÿ‘‰ The buy-and-hold method is better than investing your money into a company and hoping that it grows and returns your money to you.

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๐Ÿ‘‰ However, this is a hazardous investment, as you would be placing your money into something that is now worthless, just to sell it at a profit when the time comes.

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๐Ÿ‘‰ Those that followed this technique successfully earned a lot of money in the past, particularly if they had saved up Bitcoin from the time at which it was worth a few pennies until now, when it has become worth thousands.

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๐Ÿ‘‰ Overall, investing in cryptocurrencies is the best long-term plan for making money. This is true if you have a firm grasp of the market and can foresee changes.

Crypto Loans

๐Ÿ‘‰ Lending Bitcoin enables you to invest in the future of cryptocurrency while also profiting from it.

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๐Ÿ‘‰ Crypto lending is the act of depositing Bitcoin that is then loaned to borrowers in exchange for periodic interest payments. Payments are often provided in the form of a cryptocurrency that is deposited and compounded daily, weekly, or monthly.

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๐Ÿ‘‰ There are two primary kinds of cryptocurrency lending platforms namely decentralized and centralized. Both provide access to high-interest rates, often as high as 20% annual percentage yield (APY), and both need borrowers to post collateral to get a crypto loan.

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๐Ÿ‘‰ Platforms for cryptocurrency lending enable investors to borrow against deposited crypto assets and to lend out crypto to earn interest in the form of cryptocurrency incentives. Numerous lending platforms have amassed billions of dollars in worth since 2020, when they first gained popularity.

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๐Ÿ‘‰ Crypto loans are often provided as collateralized lending products, requiring consumers to post a minimum of 100% (and up to 150%, depending on the lender) in crypto collateral to borrow cash or crypto.

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๐Ÿ‘‰ Like conventional loans, the interest rates vary per platform and monthly payments are required. Unlike typical loans, Bitcoin loans may have durations as short as seven days and even up to 180 days, often with an hourly interest rate.

Become an Affiliate

๐Ÿ‘‰ By using social networking networks, you may make a significant amount of Bitcoin. You may become an affiliate for Bitcoin or any other cryptocurrency firm, advertise their goods or services, boost their website traffic, and earn a commission on every sale that you help to close.

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๐Ÿ‘‰ The commission rate is solely dependent on client acquisition and sales growth, and you could use your social media following to influence and persuade clients to purchase your goods or service.

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๐Ÿ‘‰ You can also earn a substantial amount of money via affiliate networks that teach others how to make money with cryptocurrency.

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๐Ÿ‘‰ Because no one wants to offer spam items, the only thing you need to do is enrol in a reputable affiliate scheme. In addition, while advertising a product or service, you should post links and websites via your social media accounts.

Invest in Start-ups

๐Ÿ‘‰ When it comes to Bitcoin investments, you have quite a few options. You may earn money with Bitcoin by investing in start-ups, businesses, stocks, or even the growth of the blockchain itself.

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๐Ÿ‘‰ When it comes to investing in a cryptocurrency-related industry, blockchain-based firms are a highly common option. Several prominent companies have already achieved mainstream success.

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๐Ÿ‘‰ You would need to conduct some research to uncover the next greatest thing, but if you are correct and invest in the business when it is still in its infancy, you could profit considerably.

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๐Ÿ‘‰ In addition, investing in Bitcoin or blockchain development (or research) companies is another viable alternative.

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๐Ÿ‘‰ You would need to review their information like the White Paper, aims and work ethics, outcomes, statistics, etc. – and whether their overall perspective is appealing, you may consider investing in their initiatives or the firm itself.

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๐Ÿ‘‰ However, you should be cautious with investing, particularly when it comes to cryptocurrency. It is not a secret that the Bitcoin market is very volatile.

Crypto eSports Betting

๐Ÿ‘‰ eSports, or professional video game events, have injected a new element into the realm of sports betting with their rise. Bitcoin is gaining appeal not just as an investment, but also as a new method of buying goods and services, such as betting on eSports.

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๐Ÿ‘‰ Like traditional sports, eSports betting has become a popular venture, attributable to advances in technology and the widespread availability of internet services worldwide. Since it is new to many bookies, the odds they provide may be intriguing.

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๐Ÿ‘‰ There are crypto betting sites where you may wager using cryptocurrency, but not all betting sites and bookies provide possibilities for all events.

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๐Ÿ‘‰ Some of them are limited to a single game, while others just enable you to wager on the winning team, as opposed to kills, towers, objectives, and all the other inventive betting choices eSports provides.

Micro Earnings

๐Ÿ‘‰ Micro earnings are not something that could beย sufficient to alter one’s fate, but it is a stable source of income, allowing you to fulfil your daily expenses and lifestyle requirements.

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๐Ÿ‘‰ If you are dealing with legal PTC websites that pay you for opening specified websites, clicking specific advertisements or links, viewing movies, or playing games. In this situation, you could get paid in Bitcoin.

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๐Ÿ‘‰ Although the income on these websites is not exceptionally large, it is still one of the quickest ways to make some Bitcoin.

Earning Bitcoin through tipping systems

๐Ÿ‘‰ One of the most successful methods to generate money with Bitcoin is by assisting others and receiving tips in return.

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๐Ÿ‘‰ As you assist others and help them perform various online activities, they may reward you with Bitcoin. It may include a variety of responsibilities, such as answering technical inquiries, advertising their goods or services, streaming video games, and locating matching apparel.

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๐Ÿ‘‰ Numerous sites have now incorporated crypto-tipping services, therefore all you need to do to earn tremendously is to check these platforms.

Earn using Bitcointalk Forum Campaigns

๐Ÿ‘‰ Satoshi Nakamoto, the creator of both cryptocurrency and Bitcoin, is credited with establishing the site known as Bitcointalk. Numerous individuals participate in discussions on this site, which is notable for its age and longevity in the crypto community.

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๐Ÿ‘‰ It is possible to earn paid for each post you make on the Bitcointalk forum if you are an active participant and a dedicated follower of the platform. If you are compensated for your articles, it will also include your sponsored signature.

Get Involved in Crypto Bounties and Bug Bounties

๐Ÿ‘‰ Blockchain initiatives use crypto bounties as tokenized incentives and reward systems. Bounty hunters are those who participate in these operations, and they are rewarded handsomely for their efforts.

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๐Ÿ‘‰ A token’s initial coin offering (ICO) is often promoted via the use of crypto-bounty schemes. Entrepreneurs may raise money for the launch of a new cryptocurrency via an ICO, just as they do with an IPO.

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๐Ÿ‘‰ Some of those tokens are offered to investors as a reward. After the ICO, the project is not made public as it would be in a public offering. Instead, devs retain complete control, with investors just reaping the rewards of an increasing currency value.

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๐Ÿ‘‰ Because of the importance of ICOs, businesses use marketing methods such as reward programs to raise awareness and entice investors to participate in their offerings.

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๐Ÿ‘‰ Developers can use bug bounty programs to guarantee that their project code is secure and that there are no loopholes for hackers. Entrepreneurs and project owners who want to promote their initial coin offering (ICO) often launch bounty schemes.

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๐Ÿ‘‰ A promotional campaign is often announced, with the offer that those who participate will be rewarded with a certain number of tokens for their efforts. Tasks include anything from uploading images to promoting videos to writing reviews, and they all revolve around social media.

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๐Ÿ‘‰ Some projects continue to use reward programs after their ICOs because of their success. Users are usually compensated for finding defects in the code at this level.

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๐Ÿ‘‰ At this point, most Kenyans reading this might as: โ€œIs there a way to locate the best bounty programs out there?โ€ Most legitimate projects, like Coinbase and Ethereum, have a dedicated website for their reward programs.

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๐Ÿ‘‰ However, reward schemes fall between a marketing campaign and an illegal pyramid scam. According to critics, firms can take advantage of the low-cost ads and use them to promote phoney enterprises.

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๐Ÿ‘‰ On the other hand, however, it is worth mentioning that it is unethical, if not unlawful, for bounty hunters to surreptitiously profit from promoting a project they are not particularly interested in.

The Best Bitcoin Brokers in Kenya

๐Ÿ‘‰ In this article, we have listed the best brokers that offer Bitcoin trading to traders in Kenya. We have further identified the brokers that offer additional services and solutions to Kenyan traders.

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Best Bitcoin Broker for beginners in Kenya

Overall Rating

Min Deposit

USD 0 / 0 KES

Regulators

IGRs

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

80

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on IG Group’s website

๐Ÿ‘‰ Overall, IG is the best Bitcoin Broker for beginners in Kenya. IG is a fully licensed stock brokerage business that serves more than 321,000 customers all over the globe. Beginner traders have access to IG’s extensive library of easily digestible and constantly updated educational resources.

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Best Low Minimum Deposit Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

CySEC, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on HFM (Formerly Known as Hotforex)’s website

๐Ÿ‘‰ Overall, HF Markets is the best Low Minimum Deposit Bitcoin Broker in Kenya. The trading charges associated with the HF Markets Micro Account are cheaper than those associated with the entry-level accounts supplied by several of HF Markets’ competitors.

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๐Ÿ‘‰ A minimum deposit of 590 Kenyan Shillings is required for Kenyans to begin trading.

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Best ECN Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 200 / 23120 KES

Regulators

ASICย 

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

๐Ÿ‘‰ Overall, IC Markets is the best ECN Bitcoin Broker in Kenya. In addition to offering zero-pip spreads, IC Markets is known for having some of the greatest levels of liquidity in the business.

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๐Ÿ‘‰ Kenyans may trade more than 2,000 different financial instruments, and they can do so secure in the knowledge that low-latency connections and the most up-to-date trading technology are readily accessible.

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Best Islamic / Swap-Free Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 100 / 11560 KES

Regulators

ASIC, FSA

Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

๐Ÿ‘‰ Overall, AvaTrade is the best Islamic / Swap-Free Bitcoin Broker in Kenya. AvaTrade is recognized as one of the leading Dealing Desk brokers since it provides Muslim traders with an Islamic account. In addition, AvaTrade enables halal trading across a variety of marketplaces.

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๐Ÿ‘‰ When Muslim traders use this account to trade more than 1,260 instruments, they are not required to pay any extra commissions or administrative costs. Moreover, this account is completely free of any commission charges as the broker fee is included in the spread.

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Best Kenyan Shilling Trading Account Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 10 / 1156 KES

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

๐Ÿ‘‰ Overall, Exness is the best Kenyan Shilling trading account Bitcoin Broker in Kenya. Exness gives Kenyans the ability to choose from a variety of account types and gives them the choice to have their accounts denominated in KES.

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๐Ÿ‘‰ Kenyans may also anticipate competitive trading conditions on cryptocurrencies, in addition to access to MT4, MT5, and the Exness app’s in-house developed platform.

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Best Lowest Spread Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 50 / 5,700 Kenyan

Regulators

ASIC, VFSC

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

60+ ECN pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

๐Ÿ‘‰ Overall, ACY Securities is the best lowest spread Bitcoin Broker in Kenya. ACY Securities offers zero-pip spreads to Kenyan customers and provides them with zero-pip spreads on more than 1,800 different tradable assets.

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๐Ÿ‘‰ STP and NDD trade execution techniques are a part of this process, and ACY Securities offers a plethora of social trading choices through Finlogix.

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Best NDD Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 100 / 11560 KES

Regulators

CySec, ASIC, FCA, BVI FSC, FSCA

Trading Desk

MetaTrader 4, MetaTrader 5, Markets.com propietary platform

Crypto

Yes

Total Pairs

67

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

๐Ÿ‘‰ Overall, Markets.com is the best NDD Bitcoin Broker in Kenya. Markets.com is a well-known NDD broker that provides Kenyan investors with user-friendly trading software as well as a wide range of helpful trading tools.

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๐Ÿ‘‰ Kenyans have access to a wide range of funding options, and those who are new to trading will find several trading tips and tutorials that can assist them in getting started.

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Best STP Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 100 / 11615 KES

Regulators

CySEC, FCA

Trading Desk

Crypto

Yes

Total Pairs

50

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

๐Ÿ‘‰ Overall, FOREX.com is the best STP Bitcoin Broker in Kenya. FOREX.comโ€™s user-friendly trading platform has access to markets all around the globe, which allows the broker to provide better pricing and execution.

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๐Ÿ‘‰ FOREX.com places a strong emphasis on providing information and resources relating to foreign exchange (FX), contracts for difference (CFD), and other associated services.

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Best Sign-up Bonus Broker in Kenya

Overall Rating

Min Deposit

USD 1 / 116 KES

Regulators

IFSC, FSCA (South africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

$140 (16 373 KESFind out More)

Account Activation Time

24 Hours

๐Ÿ‘‰ Overall, FBS is the best sign-up bonus broker in Kenya. FBS is very well-known across Africa since it offers new traders some of the most generous sign-up bonuses available elsewhere in the world.

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๐Ÿ‘‰ FBS provides Bitcoin traders in Kenya with a specialized cryptocurrency account that has excellent spreads.

Conclusion

๐Ÿ‘‰ While there are a plethora of ways to earn profits on Bitcoin, Bitcoin is only worth your time and effort if you adhere to fundamental principles and do not take unnecessary risks.

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๐Ÿ‘‰ While many observed enormous gains in the world of Bitcoin, others have also suffered enormous losses in Bitcoin investments.

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๐Ÿ‘‰ While most would love to be in the first group of those who experience substantial gains, the reality mains that Bitcoin is highly speculative, and you must take the steps to protect your capital regardless of how you use Bitcoin to earn profit.

FAQ

What is the fastest way to make money with Bitcoin?

While there is no guaranteed way to earn profits from Bitcoin, the easiest way to potentially earn is to day trade Bitcoin.

This can be done by buying low and selling when the price reaches a predetermined level, allowing you to make small profits frequently and limiting your exposure to inherent risks.

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Can you get defrauded with Bitcoin?

Yes, many investors have previously fallen for elaborate scams.

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Can I invest $1 / 110 KES in Bitcoin?

There are some exchanges and brokers that allow you to purchase fractions of Bitcoin, allowing you to purchase $1 / 110 KES worth of Bitcoin.

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When should I sell my Bitcoin for a profit?

This will depend on your unique trading strategy and your personal considerations. However, the typical rule of thumb is that if the price has fallen and you no longer believe the cryptocurrency to be a suitable investment, you should sell.

However, price reduction should never be the only motivation for selling.

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How long would it take to mine 1 Bitcoin?

It takes 10 minutes to mine 1 BTC.

9.4/10 - (17 votes)