Here is how you withdraw Bitcoins to MPESA
Using Bitcoins to make payments in Kenya may not have very many use cases as of right now though this is going to change very soon as Bitcoin holders will soon discover in a few days to come.
To withdraw Bitcoin to MPesa, simply decide on the amount of Bitcoins you want to withdraw to MPesa, choose a Trusted Bitcoin Trader on LocalBitcoins from whom you can transact with and they deposit cash to your MPesa for you to withdraw. That’s all. It is that easy!
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
Being not able to pay utility bills, pay for goods and services in Kenya with Bitcoins can make you feel like you are holding to some other country’s currency that is not accepted in Kenya. Do not fret! Very many other new Bitcoins and AltCoins holders in Kenya may be feeling the same.
To begin with, it is easy to convert your Bitcoins to Kenya Shilling. Infact, you will be surprised why you never thought about what I am going to share here with you.
Anyway, when we soon get there, like in some of the countries where there is increased uptake of crypto currency coins as an accepted form of payment, you will marvel at the efficiency and use of Blockchain technology in making online payments on e-commerce platforms.
As is the case with any new technology, new product, new policy there are hurdles to be crossed before everything else normalizes and people accept and adapt to the new and better way of doing things.
When MPESA first rolled out, people …resisted! Weeh! People came up with all manner of excuses why it would not succeed! It was not an easy thing to convince people that they could leave their cash (… deposit) at a green painted shop (… MPESA shop) that opened business the other day and expect that shop to credit that cash to their phone! Kenyans were not buying into any of that nonsense (… they would camp at that green shop where they deposited their cash) until they confirmed that the person on the other end was able to walk into another green shop at their locality and withdraw the cash they had sent to them. Hahaa!
Today if you ask some of those folks who cast a dark cloud on the success and reliability of MPESA as a mobile money service, they will gleefully tell you without flinching that they have trust in how the MPESA vodoo works! They do not doubt it anymore! All those fears are now in the past and are no longer valid worries. Mobile money services like MPESA, have become ingrained in almost all aspects of our lives. You can pay school fees, pay bills, buy airtime, pay for services and goods and buy almost everything that is on sale with MPESA.
Bitcoin and other Cryptocurrency coins unlike MPESA in Kenya aspire to make it possible for you to buy and sell anything anywhere anytime in the whole world. With a stash of Bitcoins in your Digital Wallet you should …and soon you will be able to go to any country and buy anything or pay for goods and services without converting into their local currency.
You could for instance, tour several countries and make all your payments with only Bitcoins but since many businesses have not yet adapted and started accepting Bitcoins and other Cryptocurrency coins as forms of payments, there will be need to convert Bitcoins to local currency e.g. to Kenya Shillings. There are a couple of ways you could use to convert your Bitcoins to Kenya Shillings.
How to withdraw Bitcoins to MPESA?
I will show you in a moment how to do this in my way. There are alternatives but this is how I would do it real quick and Get to choose the Best rates currently on offer in the market.
In summary, this is How to withdraw Bitcoins to MPESA in 1 minute on LocalBitcoins. Firstly, identify a Trusted Bitcoins Trader dealing in Bitcoins withdrawal to MPESA transactions on LocalBitcoins. Thereafter, send Bitcoins you want to withdraw to them then wait for a minute as they send your Bitcoins equivalent in Cash to your MPESA for you to withdraw. Once your MPESA account is credited with Cash, withdraw your cash from MPESA. That’s it!
This is how you do it.
First and foremost you will need to be a Registered user on LocalBitcoins.com Exchange. If you already have a User account on LocalBitcoins Exchange you are good to go. It is FREE to Register for a LocalBitcoins Exchange User account and it takes only 30 seconds to do so. If you would like to Register for a FREE account you can do so now from LocalBitcoins.com.
LocalBitcoins Exchange is to Kenya Bitcoin Traders as MPESA is to Kenyans.
If you are thinking of doing anything with Bitcoins in Kenya, you should have a user account on LocalBitcoins Exchange. I will show you the usefulness of having a LocalBitcoins account shortly especially for Kenyans.
We are used to executing our online transactions with Quick speeds ( e.g buying Airtime from MPESA, paying Bills with MPESA, paying for Goods and Services with MPESA etc. which we can do within a minute ) and we do not expect anything less besides getting a Professional, Quick and Flexible means of converting our Bitcoins to Kenya Shillings and subsequently to MPESA. This is where LocalBitcoins comes in handy for its Convenience and Reliability way above what other Bitcoins Exchanges can offer as of this time of writing. You have the alternative choices of Remitano and Paxful but LocalBitcoins is way much better!
I will now show you how to do the following;
- Convert your Bitcoins in LocalBitcoins Exchange to MPESA
- Convert your Bitcoins in other Bitcoin or Crypto Coins Exchange to MPESA
Converting Bitcoins in LocalBitcoins Exchange to MPESA
1. Log into LocalBitcoins.com
2. Scroll Down below past Buy bitcoins online in Kenya and below past Buy bitcoins with cash near Kenya to Sell bitcoins online in Kenya. If you are on a mobile phone, click the menu button at the topmost right and select Sell Bitcoins.
3. While at Sell bitcoins online in Kenya, evaluate the Buy offers by Bitcoin Buyers in that Table. Note that the Sell bitcoins online in Kenya table listing has these 4 columns namely Buyer, Payment method, Price / BTC and Limits.
4. Use our Guiding List found here (…rem that while selling, contrary to buying Bitcoins, in selling you check out for who is willing to buy from you for the highest price than the other traders ).
Choose wisely the Bitcoin Trader you are going to sell your Bitcoins to in exchange for MPESA ( Note: Unlike the case for a Forex Bureau, in LocalBitcoins and other peer to peer Exchanges, the magic wand for converting Bitcoins to local currency e.g. Kenya Shillings in our case, is to sell off your Bitcoins to another Bitcoin Trader. )
Most Bitcoin Buyers deal in MPESA. Chances are that the one you select will Buy Bitcoins from you and pay you via MPESA. If you find one that does not deal in MPESA you can drop them and pick another who will Buy your Bitcoins and pay you via MPESA.
In LocalBitcoins Exchange you will always find Bitcoin Buyers who are Ready and Willing to Buy Bitcoins from you all through till late into the night.
5. Click Sell Button to the right of your selected Bitcoin Trader to who you are going to sell your Bitcoins and get paid via MPESA.
6. This will now open the Bitcoin trader’s panel where you can see their Price offers, the Payment methods they can offer to pay you with, their User name, Trade limits, Location, Payment window.
7. Scroll below and find How much you wish to sell? and in the Sky Blue text below with a KES prefix, enter amount you want to earn from your Bitcoins sale. 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. This is the amount of Bitcoin that will be deducted from your current Bitcoin hold.
8. After you have entered the amount at KES sky blue textbox you want to Receive / Earn ( … in our example we enter 10,000 )from your Bitcoin Sale, take note that you can see the equivalent BTC you will be Selling on the sky blue text box with BTC prefix below. 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. In our example, the BTC value is automatically populated with 0.06654. This is the amount of Bitcoins you are going to exchange for KShs 10000.
9. 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, Jambo! How are you? I would like to Sell you Bitcoins. Can we get this deal done now? then click the Send trade request Green button to begin this transaction process.
10. The conversation will get started between you and the Bitcoin Buyer that is buying Bitcoins from you. The Bitcoin Buyer will then ask you for your MPESA number where he / she is going to send you MPESA Cash.
11. Give them your Safaricom MPESA number e.g. 0722XXXXXX where they will send you the cash amount you specified in the KES sky blue text box.
12. The Bitcoin Buyer will now send you Cash to your MPESA. In our example expect to receive KShs 10000 from the Bitcoin Buyer’s MPESA account number.
13. Wait for a few seconds as the Bitcoin Buyer sends you the cash to your MPESA ( …you can hum to the latest tune that has caught the airwaves recently as you wait ! Hahaa )
14. Once the Payment notification checks in, confirm you have received the cash you had specified to sell your Bitcoins for.
15. After you have received cash in your MPESA, proceed to release Bitcoins to the Buyer.
Note: In our above example, our Bitcoins will now be reduced by 0.006654 from the initial value of 0.48367253 to 0.47701853
How to Cash your Bitcoins to Kenya Shillings and withdraw from your Bank Account in Kenya
Hey, I almost forgot to mention this one, should you be looking for an easier and safe way to cash out Bitcoin to Kenya Shillings and Get Paid Straight to your Specific Bank Account, the criteria you adhere to is the same one as that of withdrawing Bitcoin to MPesa. What you will need to do is, find Bitcoin Traders who will Buy your Bitcoins and transfer Kenya Shillings Straight to your Bank Account.
In the same way you issue a Bitcoin Trader your MPesa number to credit your Safaricom’s mobile money wallet, you will give out the Bitcoin Trader your Bank Name e.g. ‘National Bank of Kenya‘ or ‘Equity Bank‘ or any other Bank in Kenya, and your ‘Bank Account Number‘. Just those Two (2) details only.
The Bitcoin Trader to whom you are selling your Bitcoins to (i.e. the one Buying your Bitcoins) will then proceed to Credit your Bank Account. It should not take more than 5 minutes.
Once you receive an SMS from your Bank, informing you that your Bank Account has been credited with cash, verify the same either by calling your Bank or checking via your Bank‘s mobile App then if happy, release your Bitcoins to the LocalBitcoins.com‘s Bitcoin Trader that you are transacting with. It is that simple. You can Get all Active Bitcoin Traders on LocalBitcoins.com in Kenya, who will Buy Bitcoin from you and credit your Kenyan Bank Account with equivalent cash here LocalBitcoins.com.
Converting Bitcoins in other Bitcoin Exchanges to MPESA
1. Log into that other Bitcoin Exchange. In this example let me show you how to do it from Binance Exchange
2. Log into LocalBitcoins Exchange
3. Once Logged into LocalBitcoins Exchange, go to the Top and click at Wallet.
4. Your LocalBitcoins Wallet will open and you will see the following Buttons, Send bitcoins, Receive bitcoins and Transactions.
5. Click on Receive bitcoins Button. It will change color to a DARK BLUE color.
6. Note that you will be taken to Receive bitcoins panel.
7. Under Receive bitcoins in BOLD, you will see this text, Give out the bitcoin address below to receive bitcoins with text similar to something like this 9q9c89ew8wnvcnc8ip398c7qpq87e7. This is now the Bitcoins Receiving Address you can give out to anyone to send you Bitcoins or use yourself to withdraw Bitcoins from other Exchanges where you have Bitcoins. Think of it like your e-mail address that you can give to anyone to send you PayPal dollars or rather Think of it like your Safaricom NOthat you can give to anyone to send you MPESA cash ( I hope this helps you understand that this is your LocalBitcoins’ Wallet Receiving Address. This is Bitcoins Receiving Address where people can send you Bitcoins from other Bitcoins Exchanges. It is where you can withdraw Bitcoins from your other Bitcoins Exchanges’ accounts to your LocalBitcoins wallet where you can easily convert your Bitcoin to KShs. )
8. Copy that text 9q9c89ew8wnvcnc8ip398c7qpq87e7 and go to your other Bitcoin Exchange( Binance in this example ) from where you want to withdraw your Bitcoins.
9. Access the Wallet of your Bitcoin account and locate Send Bitcoins or Withdraw Bitcoins. On Binance Exchange it is Withdraw. So you click at the Deposits Withdraw option.
Select Withdrawpink Button from the new pane that displays thereafter to start process of withdrawing your Bitcoins.
10. Enter the Bitcoins Receiving Address you copied from your Wallet in LocalBitcoins account Wallet in Step 8 above.
11. Click OK / Accept or Agree. On Binance Exchange you click at the Withdrawal yellow button at the bottom. This same approach is the same one you will use to withdraw Bitcoins from other Bitcoin and Crypto Exchanges.
12. Wait a few minutes and depending on how fast transactions happen on that other exchange, you will after a short period of time observe that your LocalBitcoins account has been credited with additional Bitcoins.
Note: Your LocalBitcoins has now been credited with 0.00800132 Bitcoins from Binance Exchange less 0.00073406 Bitcoins which are the Transaction fee for Bitcoin withdrawal on LocalBitcoins Exchange from an external Bitcoin Exchange ( …Binance) in our example. Your Bitcoin value less Withdrawal Fee on Binance Exchange less Transaction Fee on LocalBitcoinsExchange is 0.00726726 Bitcoins. This is the amount that has resulted in your Bitcoin increase to 0.48428579 up from 0.47701853.
13. With your New Bitcoins now in LocalBitcoins Exchange, you can now withdraw your New Bitcoins to MPESA as Kenya Shillings using the steps I have shown you above in Converting Bitcoins in LocalBitcoins Exchange to MPESA.
That’s it !
Converting Bitcoins to MPESA from your Wallet accounts in other Bitcoins Exchanges is that Simple and Easy. You only need to send your Bitcoins from other Exchanges to your LocalBitcoins Exchange account.
Now you know how to withdraw Bitcoins from your other Bitcoin Exchange accounts and send them over to LocalBitcoins Exchange where you will be able to sell them to exchange them for MPESA.
Remember to Sell Bitcoin when it is priced High in Kenya Shillings to gain Good Returns.
Happy Bitcoin Trading !