How to Buy Bitcoin with MPesa
How to Buy Bitcoin with MPesa anywhere in Kenya, Tanzania, Ethiopia and East Africa has now been made simple on Crypto Coin Exchanges like LocalBitcoins.com and Paxful such that from anywhere in East Africa region, you can use your country’s local currency to amass a stake of Bitcoin. Tanzania, Ethiopia and Uganda can buy Bitcoin with Tanzania Shillings, Ethiopian Birr and Uganda Shillings respectively and so can Kenyans amass a stake of Bitcoins with Kenya Shillings.
Before you continue to read this post, it is essential to learn about MPesa Mobile Wallet Money Payment and why it has created its own unparalleled niche especially in the East Africa block of countries that facilitates ease of doing business and a smooth means of transacting business. MPesa has provided Financial Inclusion to those who have previously not been banked and this has made it easy, simple and painless to pay for goods and services and also access government services.
Many other renown global entities like PayPal, Ali Express, Western Union and almost all Banks operating in the East African region have also integrated with MPesa. Many other Business establishments that would want to venture into East Africa are finding that they cannot get along without integrating their means of making and receiving Payments via MPesa save for a few exceptions like some Western Countries Embassies in Kenya which have not yet incorporated means of receiving and making payments via Mobile Money Wallets like MPesa.
The Chinese, among all the foreign interests doing business in the East African region, seem to be the most keen and observant enough to understand that there is no detaching East Africans from using Mobile Money Payments like MPesa. This is also partly evident from how their products have permeated almost all corners of the countries in the East African region? It is easy for East African traders to use MPesa locally without moving from their business premises to purchase their merchandise from China and have it shipped to their business premises. They Chinese have made it simple, easy and possible for themselves, their Companies, Business Partners in East Africa to do business by embracing MPesa. So far, two entities from China, that is WeChat and Ali EXpress have already integrated with MPesa.
To Buy Bitcoin and other Crypto Currencies like Ethereum, Kenyans and East Africans in particular are also sourcing for Crypto Exchanges that accept MPesa. Any Bitcoin Exchange or Crypto Coin Exchange that shuns MPesa is considered alien and discriminating to the East African locals here. This is the reason why peer exchanges like LocalBitcoins.com, Paxful and LocalEthereum.com are having significant success in East Africa’s Kenya, Tanzania and Ethiopia. This is because
Money here in Kenya exchanges hands, NO! Money here in Kenya is exchanged more often via Mobile Money Wallets like MPesa or AirtelMoney. Money in Kenya hops more often from one Mobile Phone’s Wallet to another than it does via cash payments by hand.
Should you be looking for information on How to Quickly Buy Ethereum Coins in Kenya Shillings via MPesa, check out this post on How to Buy Ethereum with MPesa in Kenya
You can buy Bitcoin hassle free in Kenya using Kenya Shilling without converting your money to USD (United States Dollars) or EUR (Euros) or GBP (Great Britain Pound) on these Exchanges
Why is it Simple and Easy to Buy Bitcoin with MPesa in Kenya Shillings on LocalBitcoins.com Exchange than other Bitcoin Exchanges?
Kenya Shilling is limited for use in Kenya only. Every country has their own currency and so does Kenya. Most of the Crypto coins exchanges accept USD (United States Dollars) or EUR (Euros) and if you do not have a way of converting your KShs to USD or EUR you meet your first obstacle. Luckily, LocalBitcoins.com, Paxful, Remitano are peer to peer exchanges where you can actually find traders within your locality who are willing to sell and buy Bitcoins from you in your local currency and in this case you will find Kenyan traders who are willing to sell and buy Bitcoin in Kenya Shilling on LocalBitcoins.com, Paxful, Remitano.
Who in Kenya will Sell to Me Bitcoins via MPesa?
To buy Bitcoins on any exchange, you must have an account on a Bitcoin exchange where you want to buy or sell Bitcoin. This article will show you how to Buy Bitcoin on LocalBitcoins.com exchange via MPESA.
To buy and pay for anything via MPESA, you must have a registered Safaricom SIM card which is configured for MPESA by Safaricom. Should you be wondering how do you get a Safaricom SIM card for your Phone and get it Registered for use, visit this web Page to learn How to Buy and Get your Safaricom SIM Card Registered for use with your Mobile Phone so that you can use MPesa.
This article assumes that you already know how to use MPesa to make and receive payments with your Safaricom Registered SIM Card from your Phone but even thus, I will not assume everyone does. So, if you still would like to enroll and register for MPesa and you do not know how to start or go about it, worry not, I go you covered. Check out this Safaricom MPesa’s web page here with information on how to register for MPesa for FREE.
The remainder of this article will show you how to Buy Bitcoin with MPESA from LocalBitcoins.com exchange.
Login to LocalBitcoins and create a FREE account if you do not have one already there. Click LocalBitcoins.com to go register for a FREE account or open your existing LocalBitcoins.com account. Registering an account on LocalBitcoins.com is as simple and easyas opening a FREE e-mail account on Google’s Gmail.
How do I Buy Bitcoin with MPesa on LocalBitcoins.com Exchange?
By visiting LocalBitcoins.com exchange here, you can see all people ( …call them Bitcoin traders ) willing to sell Bitcoins to you within your locality ( in Kenya). Once you register on LocalBitcoins.com you will be able to see all their offers.
A LocalBitcoins.com trader will NOT have Bitcoins packaged for Kshs 10000, KShs 20000, KShs 50000, KShs 100000, KShs 500000 or anything like that so that you can choose a combination you want like you are buying tomatoes in a market. Hahaa ! Here things are a little bit different. A Bitcoin trader lists the price in Kshs per 1 Bitcoin. e.g. KShs 1972500. The Local Exchange calculates in realtime as you type the amount of Bitcoin you will receive as you type the amount of KShs you are willing to spend to Buy Bitcoin. You can see this as you type amount in KShs. The LocalBitcoins.com exchange unlike other Bitcoin trading platforms has a very simple, friendly and an intuitive user interface.
How to Buy Bitcoin with MPesa in 5 Simple Steps
To Buy Bitcoin with MPesa follow these steps;
- First, top up your MPesa account with Cash.
- Secondly, find a Trusted Bitcoin Trader who transacts with MPesa.
- Select amount of Bitcoin you want to Buy with MPesa.
- Thereafter, credit your Bitcoin Trader’s MPesa account with the MPesa amount you want to Buy Bitcoins for.
- After receiving your MPesa, the Bitcoin Trader will immediately send you Bitcoin to your Bitcoin wallet.
That’s it. It is that simple! Check your Bitcoin Wallet after 1 minute to confirm you have received your Bitcoin
Your Guiding Checklist to Buying Bitcoin with MPesa in Kenya
Like in any market, you want to buy Bitcoins from an authentic / trusted trader and one whose prices are not exorbitant. So how do you do that?
On LocalBitcoins.com exchange a Bitcoin trader has two ratings you can use to gauge the following;
- Number of trades they have successfully transacted.
- Their reputation as a percentage. In short, what is the percentage that I can trust this trader?
Just Below a Bitcoin trader’s name you will see on the left a value with a plus (+) sign e.g . (100+, 100%).
The value 100+ indicates that the Bitcoin trader has done over 100 Bitcoin trades and the value 100% shows that the trust level of this trader is 100% certified by the feedback given by buyers who have bought Bitcoins from him / her.
One good thing about Buying Bitcoin unlike Sending money via MPESA to someone you do not know online is that on LocalBitcoins.com you can determine how honest / legitimate / safe / authentic / trustworthy a trader is before you enter into any business with them. The reputation percentage e.g. ( 100%, 90%, 75% ) rating helps you determine that. You can also determine if you want to Buy Bitcoins from a Bitcoin trader who has carried out several Bitcoins transactions or one with fewer e.g. (30+, 100+, 1000+, 5000+).
The community on LocalBitcoins.com has a way of self policing itself to make it safe for everyone to trade there.
I hope by now you already get the drift.
The main thing you are concerned about is minimizing your risks of transacting with a dishonest trader! You want to eliminate the chances of getting scammed. The higher the percentage, the safer it is to trade with that Bitcoin trader. 100% feels much safe.
Some good traders do at times get bad ratings from Bitcoin buyers which ultimately reduces their percentage trust level ratings to below 100% maybe because of misunderstandings or them taking a little long to release Bitcoins to buyers or other minor client relations issues.
Green dot (Bitcoin Trader’s Online Status is Active)
When Buying Bitcoins, always Buy from a Bitcoin trader whose online activity is marked with a Green dot. This means that the Bitcoin trader is online and is ready to sell Bitcoins to you. Orange and Grey Color status mean that the trader was online a moment ago and the trader has not been online for some time. In simple logic, if you go to a shop and find it is closed you do not stay there and wait for ages for the shopkeeper to open their shop, you check out which other shop is opened and go buy from the shopkeeper who is open for business. So while this closed / opened shop example is applied in Bitcoin trade on LocalBitcoins.com, you should open trade with a Bitcoin trader whose online activity is marked with a Green dot ( …hapo sawa ama namna gani ?)
If you have reached this far, you are doing great!
You have now learnt how to assess / evaluate a Bitcoin trader’s reputation by looking at their Trust level percentage level and also by looking at the number of Bitcoin trades they have successfully done previously. You can now also tell whether a Bitcoin trader is online or not so you will not have to initiate trade with Bitcoin traders who are not open for business.
A greater % value gives more reputation to the honesty of the trader.
A greater + value estimates the number of successful trades a Bitcoin trader has done previously.
A Green color online status activity shows you that the Bitcoin trader is open to do business with you.
You are now ready to Buy Bitcoin with MPESA from LocalBitcoins.com Exchange from a trader with a 100% Trusted Reputation status, a trader who has done a number of trades with 100+, 300+, 1000+, 3000+, 5000+ etc. Buy Bitcoin from an experienced trader and with a trader whose online status is Green in color implying they are online and ready to sell Bitcoin to you at that minute. This should from now henceforth be your guiding check list.
Most Bitcoin traders on LocalBitcoins are ready and willing to sell Bitcoins to you via MPESA. The only remaining thing now before you have your first Bitcoins is to identify which trader is giving you the Best offer! There are no Discounts here. Hahaa ! You just check who has tabled the best offer and open a trade with them.
If you are now ready to Buy Bitcoins via MPESA, let’s say you want to Buy Bitcoins for KShs 10000 or KShs 20000 or KShs 50000 or KShs 70000 or even more from your MPESA and you have already logged into LocalBitcoins, the other thing you need to do is to identify the Bitcoin trader on LocalBitcoins who meets your Guiding checklist, has a Good offer and proceed to do the following;
1. Select the Bitcoin trader you wish to Buy Bitcoins from on the given list of traders.
2. Click Buy button on the selected trader to initiate the transaction.
3. This will now open the Bitcoin trader’s panel where you can see their Price, the Payment methods they accept, their User name, Trade limits, Location, Payment window.
4. Scroll below and find How much you wish to buy? and in the Sky Blue text below with a KES prefix, enter amount you want to spend to buy Bitcoins. In our example we enter 10000. Note that the Sky Blue text box with BTC prefix just below where you are typing the KES amount will start populating with Bitcoin value for the amount you entered.
5. After you have entered the amount at KES Sky blue textbox you want to Buy Bitcoin with, take note that you can see the equivalent BTC you will be receiving on the sky blue text box with BTC prefix. The BTC value will be 0.XXXXX where X may be any of these numbers e.g. 0,1,2,3,4,5,6,7,8,9. if you are not buying 1 full Bitcoin but if you are Buying one full Bitcoin, enter the Price specified by the Bitcoin trader at the KES sky blue textbox and the BTC sky blue text box will change to 1.000000. )
6. Scroll down and you will find there’s a textarea inscribed with this text, Write your contact message and other information to the trader here…(optional). You can can type something like this to get started with the Bitcoin trader. You could say anything to them or you could drop something like this on this text area, Hello, I would like to buy Bitcoin from you now via MPESA. Which NO do I send you MPESA cash with ? then click the Send trade request Green button to start a convo with the Bitcoin trader and get the trade started (… hivo tu ! biashara imeanza tayari!)
7. The convo ( conversation will flow like a whatsapp chat). The Bitcoin trader will establish a rapport with you and brief you on how you are going to make your payment via MPESA. They will give you a Safaricom number e.g. 0722XXXXXX where you will send them the cash amount you specified in the KES sky blue text box. In our example, you will go to your MPESA and send KShs 10000 to 0722XXXXXX the Bitcoin trader’s MPESA account number.
8. Once you have sent your MPESA amount to the Bitcoin trader, he / she will release the Bitcoins to you immediately. Most professional traders will release Bitcoins to you in less than a minute after they verify your payment details. Make sure you use our Guiding checklist so that you can easily identify these types of traders on LocalBitcoins exchange so that you can buy your Bitcoins hassle free !
9. Once a trader has released Bitcoins to you, at the very top of your Web Browser, just below the Address Bar, you will see a numeric value preceded with Bitcoin’s Bold B icon. Something like B 0.005780. Refresh your button a few seconds after you have sent your MPESA payment and your Bitcoin value will reflect at the top of your Web Browser. That is now your Bitcoin. Congratulations you now have your first Bitcoin !
10. After your first MPESA Bitcoin purchase, you can decide to Buy anything you wish with your Bitcoins, you can even Buy other Crypto Coins with your Bitcoins or even decide to Buy more and more Bitcoin and wait for the value of Bitcoin in the market to go Up then sell your Bitcoins to make lots of Profits.
That’s all ! Now you know how to Buy Bitcoin with MPESA on LocalBitcoins Exchange.
Remember to Buy Bitcoin when it is priced Low in Kenya Shillings value and Sell when it is priced High in Kenya Shillings to make it a profitable venture.
How to Buy Bitcoins with Kenya Shillings from your Bank Account in Kenya
Prefer Bank to MPesa? If you are looking for an easier and safe way to Buy Bitcoins with Kenya Shillings and Pay with your Specific Bank Account, the criteria you adhere to is the same one as that of Buying Bitcoin with MPesa. What you will need to do is to find Bitcoin Traders who accept Bank to Bank transfer and Credit their Bank Account via PesaLink or if you are both in the same Bank, you transfer Kenya Shillings from your Bank Account Straight to their Bank Account.
In the same way a Bitcoin Trader issues you with their MPesa number or Till NO to credit their Safaricom’s Mobile Money wallet, the Bitcoin Trader will give you their Bank Name e.g. ‘National Bank of Kenya‘ or ‘Equity Bank‘ or any other Bank in Kenya, and their ‘Bank Account Number‘. Just those Two (2) details only and maybe their name in some exception cases.
The Bitcoin Trader from whom you are buying Bitcoins from (i.e. the one Selling to you Bitcoins) will then notify you to proceed and Credit their Bank Account. Do not take long to do so.
Once the Bitcoin Trader confirms you have honored your part of the Deal by sending the required amount to their Bank Account, they will promptly release Bitcoins to your Bitcoin Wallet. It is that simple. You can Get all Active Bitcoin Traders in Kenya, from whom you can Buy Bitcoins by crediting their Kenyan Bank Accounts at LocalBitcoins.com.
That’s it !
Once again, remember to Buy Bitcoin when it is priced Low in Kenya Shillings value and Sell when it is priced High in Kenya Shillings to make it a profitable venture.
Happy Bitcoin Trading !