Review of Kenya's Top 6 Cryptocurrency Exchanges
Choosing the right cryptocurrency exchange in Kenya significantly impacts your trading profitability, transaction speed, and overall investment returns. Below, we’ve compiled a list of 6 reputable crypto exchanges available to Kenyan users, complete with fee structures, supported assets, and key features to help you select the ideal platform.
Top Picks at a Glance
| Rank | Exchange | Key Strengths | Spot Fees | Futures Fees | Max Leverage | KYC Required |
|---|---|---|---|---|---|---|
| 1 | MEXC | Best overall, lowest fees | 0%/0% | 0%/0.02% | 200x | No |
| 2 | Bybit | Top derivatives platform | 0.1%/0.1% | 0.02%/0.055% | 100x | No |
| 3 | KuCoin | Best for altcoins | 0.1%/0.1% | 0.02%/0.06% | 125x | No |
| 4 | BingX | Best alternative exchange | 0.1%/0.1% | 0.02%/0.05% | 200x | No |
| 5 | Kraken | Most secure | 0.16%/0.26% | 0.02%/0.05% | 50x | Yes |
| 6 | OKX | Versatile trading tools | 0.08%/0.1% | 0.02%/0.05% | 125x | Yes |
1. MEXC: Best Overall Exchange
Overview:
Founded in 2018 and headquartered in Singapore, MEXC boasts 1.7+ million users globally. It supports 1,600+ cryptocurrencies with zero spot trading fees for makers/takers and ultra-low futures fees (0%/0.02%).
Key Features:
- 200x leverage for derivatives.
- No KYC requirements for trading.
- Multiple deposit options (credit/debit cards, third-party providers like Banxa).
Pros & Cons:
| ✅ Pros | ❌ Cons |
|---|---|
| Zero spot fees | Limited passive income products |
| High liquidity | Advanced tools may overwhelm beginners |
| 200x leverage |
2. Bybit: Best Derivatives Platform
Overview:
With 180+ million users across 25+ countries, Bybit offers 100x leverage on futures and supports 400+ cryptocurrencies.
Highlights:
- Low futures fees (0.02%/0.055%).
- Advanced trading tools (options, NFTs, bots).
- Passive income via staking and liquidity mining.
FAQ:
Q: Is Bybit good for beginners?
A: While feature-rich, its complexity may challenge new traders.
👉 Start trading on Bybit today!
3. KuCoin: Best Altcoin Hub
Overview:
KuCoin provides 700+ altcoins and tools like bot trading and crypto lending.
Fees:
- Spot: 0.1%/0.1%
- Futures: 0.02%/0.06%
Drawback:
The interface can be complex for first-time users.
4. BingX: Best Alternative Exchange
Why Choose BingX?
- 500+ cryptos with 0.1% spot fees.
- Up to 200x leverage on futures.
Ideal For: Traders seeking niche coins and high leverage.
5. Kraken: Most Secure Exchange
Security:
- Cold storage, Proof of Reserves.
- Fully regulated.
Trade-offs: Higher spot fees (0.16%/0.26%) and stricter KYC.
6. OKX: Versatile Trading Tools
Standout Features:
- 125x leverage.
- Copy trading and staking options.
Best For: Experienced traders leveraging advanced strategies.
How to Buy Crypto in Kenya
- Select an exchange (e.g., MEXC for low fees).
- Deposit KSh via card/P2P.
- Trade or withdraw to a private wallet.
Final Recommendations
- Best Overall: MEXC
- Best Security: Kraken
- Best for Altcoins: KuCoin
👉 Explore MEXC’s offerings here!
FAQ
Q: Is crypto legal in Kenya?
A: Yes, regulated by the Central Bank of Kenya.
Q: Which exchange has the lowest fees?
A: MEXC offers zero spot fees.
Q: Safest exchange?
A: Kraken, with its robust security measures.
Q: Best for beginners?
A: MEXC (no KYC) or Kraken (user-friendly).