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How to Buy Crypto via M-Pesa: Updated Guide

How to Buy Crypto via M-Pesa: Updated Guide

Last updated on October 15th, 2023 at 09:04 pm

Cryptocurrencies have gained significant popularity worldwide, and Kenya is no exception. With the widespread adoption of mobile money services like M-Pesa, buying crypto has become accessible and convenient for Kenyan users.

This guide will walk you through the steps of buying crypto via M-Pesa and provide some helpful tips to get you started.

Step 1: Create an Account on a Cryptocurrency Exchange That Supports M-Pesa

To begin your journey into the world of cryptocurrencies, you’ll need to choose a reputable cryptocurrency exchange that supports M-Pesa as a payment method.

Some of the most popular exchanges accepting M-Pesa include Binance, Paxful, and LocalBitcoins.

Create an account on your preferred exchange by providing the necessary information. More on these in a minute.

Step 2: Verify Your Identity

Once you’ve created an account, the exchange will require you to verify your identity.

This standard security measure is designed to prevent fraudulent activities and ensure the safety of your transactions.

Follow the exchange’s instructions to complete the verification process successfully.

Step 3: Add M-Pesa as a Payment Method

After verifying your identity, you can add M-Pesa as a payment method on the exchange. This will allow you to purchase cryptocurrencies directly using your M-Pesa balance.

Navigate to your account’s payment settings or preferences section and follow the instructions to link your M-Pesa account.

Step 4: Find a Seller Accepting M-Pesa

With M-Pesa set up as your payment method, you can now search for sellers who are willing to accept M-Pesa in exchange for cryptocurrencies.

Depending on the exchange you’re using, you can either explore the available offers directly on the platform or use a peer-to-peer (P2P) marketplace to find suitable sellers.

Take note of each seller’s reputation, trade history, and offered exchange rate to make an informed decision.

Step 5: Make a Payment to the Seller

Once you’ve identified a seller who meets your requirements, initiate the transaction by following the exchange’s or marketplace’s guidelines.

Provide the seller with the necessary details, such as your M-Pesa account information and the agreed-upon amount of crypto you wish to purchase.

Make the payment securely through the M-Pesa service following the provided instructions.

Step 6: Receive Your Crypto

After you’ve completed the payment, the seller will confirm the transaction and release the purchased cryptocurrencies to your exchange account.

You can then view and manage your crypto holdings within your account. At the same time, you may choose to withdraw your crypto to a separate wallet for enhanced security and control.

Crypto Exchanges That Accept M-Pesa

If you’re a cryptocurrency enthusiast in Kenya or Tanzania, you might wonder which exchanges allow you to buy and sell crypto using M-Pesa, the popular mobile money transfer service.

Let me introduce you to some of the most reputable crypto exchanges that accept M-Pesa payments.

So, let’s dive in and explore your options.

Binance: The Giant Among Crypto Exchanges

Crypto Exchanges That Accept M-Pesa

When it comes to the best cryptocurrency exchanges in Kenya, Binance stands tall as one of the largest and most trusted platforms worldwide.

Luckily, Binance supports M-Pesa payments in Kenya and Tanzania, making it an excellent choice for users in these regions.

With a user-friendly interface and a wide selection of cryptocurrencies, Binance provides a seamless trading experience.

Paxful: Peer-to-Peer Trading Made Easy

Paxful Logo

If you prefer a peer-to-peer marketplace for buying and selling crypto, Paxful is an ideal option.

With over 300 payment methods available, including M-Pesa, Paxful connects buyers and sellers directly.

You can choose from various offers and find a seller who accepts M-Pesa payments, ensuring a smooth and secure transaction process.

LocalBitcoins: Your Gateway to Crypto

LocalBitcoins Logo

Similar to Paxful, LocalBitcoins is a popular peer-to-peer marketplace that facilitates crypto transactions with M-Pesa.

You can discover local sellers who accept M-Pesa payments, negotiate terms, and exchange crypto.

LocalBitcoins provides a platform that connects buyers and sellers, enabling you to trade securely and conveniently.

BitPesa: Embracing Crypto in Kenya

BitPesa Logo

For those specifically looking for a Kenyan cryptocurrency exchange supporting M-Pesa, BitPesa is an excellent choice.

BitPesa enables you to buy and sell crypto with M-Pesa and offers additional services such as international money transfers.

This Kenyan exchange provides a comprehensive solution for individuals seeking to venture into the crypto world.

Huobi: Connecting China and Kenya

Huobi Logo

Hailing from China, Huobi is a renowned cryptocurrency exchange that also supports M-Pesa payments in Kenya.

With its global presence and extensive trading options, Huobi provides an opportunity for Kenyan users to engage in the exciting world of cryptocurrencies seamlessly.

It’s worth mentioning that the availability of M-Pesa as a payment method may vary depending on your location.

To ensure the option is available to you, checking with the exchange before initiating a transaction is always advisable.

Coinbase and M-Pesa: Are They a Match?

Can I use M-Pesa in Coinbase?

Unfortunately, Coinbase does not currently accept M-Pesa as a payment method. However, Coinbase does offer other popular payment options such as debit and credit cards, bank transfers, PayPal, Apple Pay, and Google Pay.

Although M-Pesa is currently not supported on Coinbase, keep an eye out for future updates, as Coinbase frequently expands its range of accepted payment methods.

If you’re specifically looking to buy crypto with M-Pesa, the exchanges mentioned earlier are excellent alternatives to Coinbase. You can explore their platforms, compare fees and rates, and choose the one that best suits your needs.

Crypto Wallets That Support M-Pesa

Now that you know about crypto exchanges accepting M-Pesa, let’s explore some crypto wallets that support this convenient payment method.

Cobo: On-the-Go Wallet with M-Pesa Support

Crypto Wallets That Support M-Pesa

Cobo is a mobile wallet that embraces M-Pesa payments in Kenya and Tanzania.

With Cobo, you can securely store your crypto assets and conveniently make transactions using M-Pesa. Its intuitive interface and robust security features make Cobo an excellent choice for users seeking a mobile wallet that supports M-Pesa.

Guarda: A Non-Custodial Wallet for M-Pesa Users

Guarda: A Non-Custodial Wallet for M-Pesa Users

Guarda is a non-custodial wallet that caters to the needs of M-Pesa users in Kenya and Tanzania. As a non-custodial wallet, Guarda ensures that you have full control over your private keys and funds.

With M-Pesa integration, Guarda offers a seamless experience for securely managing and using your cryptocurrencies.

Luno: South African Exchange with M-Pesa Support

Luno: South African Exchange with M-Pesa Support

Luno, a popular South African cryptocurrency exchange, also supports M-Pesa payments in Kenya and Tanzania.

Apart from offering a user-friendly trading platform, Luno provides a mobile wallet that allows you to store and transact your crypto assets with the convenience of M-Pesa.

BitPesa: A Kenyan Exchange with a Mobile Wallet


As mentioned earlier, BitPesa functions as a cryptocurrency exchange and offers a mobile wallet that supports M-Pesa payments.

This dual functionality makes BitPesa a versatile option for individuals wishing to trade and securely store their crypto using M-Pesa.

Remember, just like with crypto exchanges, the availability of M-Pesa as a payment method may vary depending on your location.

It’s advisable to check with the wallet provider to ensure compatibility with M-Pesa before making any transactions.

How to Buy Crypto with M-Pesa on Binance

If you’ve chosen Binance as your preferred crypto exchange and want to utilize M-Pesa for your transactions, follow these simple steps:

  1. Create a Binance account and verify your identity. Visit the Binance website or download the Binance app to create your account. Afterward, complete the identity verification process to enhance security.
  2. Add M-Pesa as a payment method. Open the Binance app and navigate to your profile settings. From there, access the payment methods section and choose P2P payment methods. Select “Add M-Pesa” and provide the required M-Pesa details.
  3. Find a seller accepting M-Pesa. Within the Binance app, locate the P2P trading section and select the “Buy” option. Specify M-Pesa as the desired payment method, and you’ll be presented with a list of sellers who accept M-Pesa.
  4. Select a seller and make an offer. Select their offer after finding a suitable seller and create your own offer. Specify the amount of crypto you want to purchase and the corresponding M-Pesa amount you’re willing to pay.
  5. Complete the payment. Once the seller accepts your offer, you’ll need to make the payment using M-Pesa. Simply follow the instructions provided by the seller to complete the transaction.
  6. Receive your crypto. Once the seller receives your payment, they will release the crypto to your Binance account. You can then view and manage your crypto assets in your wallet section.

Here are a few additional tips to ensure a smooth experience when buying crypto with M-Pesa on Binance:

  • Prioritize reputable sellers. Check the seller’s rating and reviews to ensure they have a trustworthy track record.
  • Beware of scams. While crypto transactions are generally secure, scammers may attempt to exploit unsuspecting buyers. Stick to reliable sellers you can trust.
  • Use a secure internet connection. When making payments, ensure you’re connected to a secure and private network. This helps protect your personal and financial information from potential threats.

With these steps and precautions in mind, you can confidently buy crypto with M-Pesa on Binance and embark on your crypto journey.

Tips for Buying Crypto via M-Pesa

To ensure a smooth and successful crypto buying experience, consider the following tips:

a. Do Your Research

Before diving into the world of cryptocurrencies, conducting thorough research is crucial.

Familiarize yourself with the basics of blockchain technology, different cryptocurrencies, and the associated risks.

Understanding the market trends and the potential volatility of crypto prices will help you make informed investment decisions.

b. Start Small

If you’re new to crypto investing, starting with small amounts is wise.

This approach lets you get acquainted with the process, understand the market dynamics, and minimize potential losses if the market experiences significant fluctuations.

As you gain more experience and confidence, you can gradually increase your investment.

c. Store Your Crypto Securely

After purchasing cryptocurrencies, it’s crucial to store them securely.

While cryptocurrency exchanges provide storage solutions, transferring your holdings to a personal wallet is recommended for enhanced security.

Consider using hardware wallets or software wallets from reputable providers like Cobo, Guarda, Luno, or BitPesa, depending on availability in your location.

Please note that the availability of M-Pesa as a payment method may vary depending on your location, so it’s advisable to confirm with the exchange beforehand.

Final Thoughts

As the popularity of cryptocurrencies continues to soar, it’s essential to have access to reliable exchanges and wallets that accommodate your preferred payment method, such as M-Pesa.

The exchanges mentioned in this article, including Binance, Paxful, LocalBitcoins, BitPesa, and Huobi, offer M-Pesa support to empower users in Kenya and Tanzania.

Regarding wallets, options like Cobo, Guarda, Luno, and BitPesa provide secure and convenient ways to store and utilize your crypto assets while leveraging the power of M-Pesa.

Remember to always verify the availability of M-Pesa as a payment method on exchanges and wallets before initiating any transactions, as the support may vary based on your location.

Now that you understand crypto exchanges and wallets accepting M-Pesa, it’s time to embark on your crypto journey.

Stay informed, keep your funds secure, and enjoy the exciting world of cryptocurrencies with the convenience of M-Pesa!

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I'm Kevin and I've been working online for the last 7 years as a content writer and affiliate marketer. I started to share my experiences, lessons, and mistakes with YOU.

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