Buy Binance Coin in Kenya - Step by Step

Buy Binance Coin in Kenya - Step by Step


How to buy Binance Coin in a few transparent steps explained. As big companies now also invest in cryptocurrencies, this is the time to own your own crypto-valuta like Binance Coin.

This simple beginner's guide will take you safely and step by step through the process of buying Binance Coin. When you follow these steps you'll own your first Binance Coin today! How awesome!

TIP! Before starting with the article below, make sure you create an account (within 1 minute) so you can follow the steps below directly.

How to buy Binance Coin (BNB) for beginners in Kenya

How to buy Binance Coin (BNB) for beginners in Kenya

  • Step 1 - Create & secure an account
  • Step 2 - How much Binance Coin BNB should I buy?
  • Step 3 - Payment methods buying Binance Coin
  • Step 4 - Trade or buy your first Binance Coin
  • Step 5 - Prepare for the crypto future!
  • Step 6 - More information about buying Binance Coin

Step 1 - Create an account

Binance is one of the biggest platforms in the world. Big benefit is that it is very simple to buy Binance Coin on Binance. As per normal currency trading you pay a small fee on every trade you make and Binance has good rates. Once you bought Binance Coin you can choose to keep your coins online or send them to a hardware wallet if available for your coins.

Click here to create your free account and start buying Binance Coin within minutes!

Below is super-simple steps explained, how to create a new and safe account.

1.1 Safe account
Click on this link to go to Binance Exchange to create an account.

1.2 Strong password
Enter your email & strong password, tick off I agree to the Binance Term of Use, and click register.

1.3 Verify your email address
After this step is completed, a verification email will be sent to you.
Check your inbox and confirm your email address

1.4 Secure your account
Awesome your Binance account is created! Now follow the next steps and make sure your account is 2FA secured. This is highly recommended.

What is 2FA?
With 2FA you will generate a security code every time you login with a new session. This will help to prevent other people to get access to your account. Most used 2FA authentication options are SMS and authenticator apps like Google Authenticator.

1.5 You've an account now!
You're account is ready to use and buy Binance Coin (BNB)

Step 2 - How much Binance Coin (BNB) should I buy

The good thing on cryptocurrencies are that you can divide them and buy just a (small) piece. This way you still own your piece of Binance Coin and you can use it or hold it.

It's good to first try with a small amount of Kenyan Shilling to gain confidence about the process of purchasing Binance Coin and then scale up your transactions and buy more Binance Coin. (be aware of the fee's that are involved when you buy and sell cryptocurrencies)

Two SMART reasons it's good to be active on multiple exchanges

Smart to do is create multiple accounts at once. The demand of people are increasing fast and sometimes you want to trade ASAP. Therefore, it's good to have accounts on multiple exchanges.

Another reason to have an account on multiple exchanges is that not all exchanges list the same cryptocurrency coins. When you discover a new coin that you want to buy with your Kenyan Shilling (KES) you don't want to end up in line waiting for approval but just take action before the price goes up.

Step 3 - Payment methods buying Binance Coin

Binance has over 100 payment options to deposit money and purchase your Binance Coin. Simply select your preferred currency (in your case from Kenya probably Kenyan Shilling) and the payment option you want to use. Of course, they also provide the most used payment methods like Credit Card, Bank transfers & PayPal.

Note: every country has different payment options, simply login and check the payment methods for Kenya. In the cryptoworld and on exchanges like Binance you can't buy every coin directly with FIAT currency. Therefor they created stable coins like Tether USDT.

These are cryptocurrencies you can buy to later swap them over to the currency you want to buy. Before buying your preferred coin its good to look-up what what coins are paired to the coin you want to buy.

Step 4 - Trade or buy your first Binance Coin from Kenya

In the world of crypto and on exchanges like Binance you can't buy every coin directly with FIAT currency. Therefore the exchanges created stable coins like Tether USDT.

These stable coins are cryptocurrencies you can purchase to later swap them over to the currency you want to buy. The name stable-coin is from the USD as the price of these coins just uses the price of the USD. Before buying your preferred cryptocurrency it's good to look up what coins are paired to the coin you want to buy. For example, some coins only pair with Bitcoin and Ethereum other also pair with stable coins.

Benefit of using stable-coins
As some cryptocurrencies can be volatile stable coins are often linked to the USD. Therefor their price stays very similar what will reduce the risk while trading fiat currency into other crypto coins and visa versa.

Step 5 - Prepare for the crypto future!

As mentioned earlier this guide is all about buying Binance Coin(BNB), prepare yourself and create multiple secured accounts on exchanges. This way you will be prepared for the future when you want to buy a new cryptocurrencies that are not listed on the one platform you are using

Where to buy Binance Coin (BNB) 

List of exchanges including our TOP 5 to buy Binance Coin (BNB) or other altcoins. Most of these exchanges have large trading volumes.

Step 6 - More information about Binance Coin

DYOR - Do Your Own Research
When investing in Binance Coin always make sure you do your own research on the coin, technology of the coin and the team behind the coin. Before you're investing in a coin its important to do you your own research on the coin, technology of the coin and the team behind the coin.

DCA - Dollar Cost Averaging Strategy
Dollar Cost Averaging is a strategy that is popular in the investment- and crypto-world. It's a tactic where you buy systematic a certain amount of a certain coin/investment you believe in. For example every month 100 Kenyan Shilling. As you buy systematic it will reduce the emotional involvement and as you spread the money you invest you spread the risk of a unstable market.

Pro DCA

  • Invest small amounts
  • Less stress about volatile markets
  • Less chance on losses as you never buy full amounts on peaks


Cons DCA

  • Won't make optimal trades as you don't invest all on the bottom
  • Takes longer, as you're not rich after one trade
  • If you DCA on one investment you can pick a loser investment what will only go down. Better is there to spread your investments while doing DCA.

Five ways to make money with Bitcoin on Binance P2P

  • Determine your profit margin

Before you start trading, you need to set up your profit margin. Observe the market prices and configure your price strategy (floating or fixed) to ensure your profits.

  • Publish a buy and a sale ad and earn with the spread or differential

The difference between the two prices is the spread. Place a sale and a buy ad. The sale ad at a higher price than the buy ad. If both ads are taken successfully, you earn the spread.

  • Create your own local crypto trading business

Buy and sell crypto in your local market at Binance P2P; you can earn from a couple of hundred to over $ 5,000 every day. You have the opportunity to post your ad and provide a competitive price that other traders could not resist to buy.  

  • Trade-in an international market

Binance P2P is a global platform supporting more than 30 fiat currencies. You can buy crypto using your local currency, take advantage of a competitive price in your market and sell that crypto in other markets worldwide where people are willing to pay more for the same amount of crypto.

  • Take advantage of multiple payment methods. 

Binance P2P has more than 60 payment methods that you can use. People will often pay a higher price to use a specific payment method that they prefer. You can take advantage of this by buying crypto at a competitive price through a very convenient payment method and then sell it using a less convenient payment method. There will be people willing to pay more just to use that payment method that is harder to find.

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