How to Invest in Cryptocurrency as a Beginner in Kenya

Kenya has many cryptocurrency scams and fraudsters that are misleading people on Telegram and WhatsApp. The people keep sharing Ponzi schemes. I am here to show you that getting into cryptocurrency is not complicated as it seems. This article aims to help you avoid fraud and Ponzi schemes. Here is how to get started in cryptocurrency in Kenya.

1. Open www.binance.com or https://www.binance.com/en/activity/referral-entry?fromActivityPage=true&ref=LIMIT_FYAWADDO

2. Click Register

3. Click Sign Up with Phone or Email

4. Select Kenya

5. Click Confirm

6. Select Phone Number. Key in the phone number without the ‘0’, i.e.…777 890 000

7. Key in this Referral ID ‘ CPA_00QRA65DBB ’

8. Click Create Account

9. Binance will send you a Six Digit Verification Code. Key it in.

10. Congratulations! Welcome to Binance. Complete KYC to proceed. Upload

Note: It is easy to sign up with your phone number. You can use email if you want to. The referral ID is also optional; however, use it to support your friends.

Deposit Funds

Welcome to Binance. Now you want to buy some Bitcoin but do not know how because Binance is a cryptocurrency mall; one big stop-shop for everything in cryptocurrency. Here is how you can buy some bitcoin.

Note: To deposit funds into your account, you will have to exchange your KES(Fiat) for cryptocurrency. To achieve this, you will use a stable coin, for example, USDT or BNB.

1. Navigate to Orders

2. Select P2P Order

3. Click on P2P. You are now on the P2P Page.

4. Under Fiat, click the Dropdown Arrow and select KES.

5. Under Payment, select M-PESA Kenya(Safaricom)

6. Head over to Buy USDT. You can buy as little as 500, depending on the seller’s least amount.

7. Choose your seller by clicking Buy USDT.

8. Key in Amount, i.e. 500 and Click Buy USDT

9. Transfer the amount to the seller. Then click the Transferred notify seller. To transfer, send 500 KES to the phone number you see. Then click Transferred and notify the seller. If you are not sure, click Cancel. Note that purchasing has only three attempts.

10. Wait for the seller to release USDT.

11. Congratulations! You made it.

Buying Bitcoin

Congratulations. You have made your first USDT transaction. You own USDT, a Stable Coin representing the real-time value of 1 USD.

I. Transfer from Spot to Wallet

To buy Bitcoin, you must first transfer your USDT from Funding to Spot. Here are the steps

1. Click Wallet

2. Select Funding Wallet

3. Select Transfer

4. Click the Arrow like yellow icon

5. Select MAX

6. Click Transfer

II. The Conversion Process

Note: The least amount of USDT you can convert is 2000 KES (20 USDT), and the least amount you can trade with is 10 USDT. Therefore, buy 1000, not 500 KES.

A. Using Binance Over The Counter (OTP) Converter

1. For conversion, select Trade

2. Click Binance Convert

3. Type 20 under USDT

4. Select Preview Conversion

5. Convert. Congratulations! You now own Bitcoin. HODL!

B. Using Trade

1. Under Trade, select Spot

2. Under Total key in 10

3. Click Buy BTC

4. Congratulations! You now own BTC! HODL!

Closing Thoughts

Kenya has one of the smartest minds in the world. I believe entry into cryptocurrency will help change many people's lives. However, it is important to note that as of now, cryptocurrency markets are highly volatile. The markets are risky, therefore, for a new investor, simply buy stable coins like Bitcoin and Ethereum.

Then hold the coins for a period of time in your wallet as you learn more about cryptocurrency. Add onto your coins over time; long term holders make high profits. Remember to always collect profits after a bull run. To learn more about cryptocurrency investing tips, contact me through "creativeseasonofficial@gmail.com" .