The English word Bitcoin means "minimum coin". It is a derivative of the words "coin" (coin) and bit (unit of information). Using P2P technology, Bitcoin operates without any supervisory authority or central bank; transaction processing and issuance are carried out collectively by the network participants. Bitcoin is open source; its architecture is known to the whole world, no one owns or controls Bitcoin, but everyone can become members of the network. Due to its unique properties, Bitcoin opens up new horizons of possibilities that no other payment system has ever provided.
In our guide, we will tell you how to buy bitcoin in Kenya.
In order to buy bitcoin, it is not necessary to register on the Itez website. In a handy calculator, you can quickly calculate the cost of BTC based on the amount you plan to use for payment. The smallest purchase amount in dollar terms is 30 USD. By the way, the same applies to the euro - the starting purchase threshold starts at €30. Well, in our instructions, as promised, we will go through all the stages of purchase BTC for dollars step by step.
After converting the currency to BTC, you will see the final result in the "You Get" field and on the "Buy" button. Click the button and enter your email address in the following window.
Confirm your email with a 6-digit code sent to the previously indicated e-mail and click the "Verify" button.
Specify the purchase amount in the Itez dialog box. Copy the recipient address - your bitcoin wallet - from the “Accept” section.
Important: you should not manually copy the bitcoin wallet address. The blockchain system does not give any information about bitcoin addresses problems, and if an error occurs during manual entry, all the buyer's funds may be lost.
For example, this is how the copy address button looks like in the Exodus wallet:
After copying the bitcoin wallet address, paste it into the dialog box.
Check your data — it is important to make sure that the address is entered correctly.
After pushing the “Card details” button, enter the required card information: card number and expiration date, the cardholder name and CVC-code — three numbers on the back of the card.
Push the “Pay” button and enter the one-time bank code in the following window. As soon as the transaction receives 6 confirmations in the blockchain network, your bitcoin wallet balance will be top-up.
Important: the transaction will wait for confirmations for time. After six network confirmations, bitcoin will be on your e-wallet; when buying with Itez it will take for about 15 minutes. This is a very good speed for the Bitcoin network since transactions in the most popular blockchain network are somewhat slower than in other networks due to its properties and high load.
In Kenya you can buy Bitcoin (BTC) with any Kenyan bank card. ABC Bank followed by Bank of Africa, a public bank providing banking services to corporate, SME and retail clientele, Bank of Baroda and Bank of India.
Kenyan people have an opportunity to use real debit and credit cards of payment systems of Mastercard and VISA. They can also buy virtual cards made by special services.
Bitcoin has one important feature - decentralization. Having a private key and a seed phrase you will give your funds full safety since other clients have no opportunity to use your bitcoin. For full list of wallets, see bitcoin.org