Summary: Equity Bank permits clients interested in digital assets to transfer funds to certified exchanges for the purpose of investing in tokens like Bitcoin or Dogecoin. Although the bank does not offer direct trading services, it enables secure transactions to platforms regulated by the Central Bank of Kenya (CBK). It’s important to use an exchange that accepts deposits in KES to avoid pricey conversion fees.
After completing a detailed examination of the top platforms, we've found Bybit to be the optimal solution for Equity Bank customers. It offers free and fast deposits in Kenyan Shilling to buy, sell, trade, and stake a selection of over 1000 cryptocurrencies. It is also one of the few platforms globally that provides live access to its reserves, proving that all assets are backed on a 1:1 basis.
- Instant Kenyan Shilling (KES) deposits from Equity Bank via Bank Transfer, Debit Card or Credit Card.
- Buy, sell and trade 770+ Cryptocurrencies for low fees via Spot and Futures trading.
- Regulated and trusted exchange with over 15 million users.
Can I Buy Bitcoin with Equity Bank?
Absolutely, Equity Bank enables its customers to easily convert KES and USD for Bitcoin and various other cryptocurrencies. Authorized digital asset exchanges in Kenya facilitate this process, adhering meticulously to the country's financial regulations. It is paramount to engage solely with platforms that uphold both compliance and credibility in order to ensure a reliable and secure path through the digital currency investment landscape.
How to Buy Crypto with Equity Bank
Clients can acquire Solana, Ripple, and other coins through Equity Bank by utilizing a global exchange like Bybit. The platform doesn't charge any fees for KES and USD deposits, which can be made through debit and credit cards, bank transfers, and other locally accepted payment methods. Once your deposit has been cleared, you’ll gain access to thousands of cryptocurrencies, which can be traded and staked.
You can start investing in digital assets by following these steps:
- Create Account: Start your journey by creating a free account on Bybit.
- Fund Your Account: Go to ‘Buy Crypto’ and choose one of the available deposit options.
- Pick Deposit Currency: Select KES or USD as your fiat currency and choose your payment method to transfer funds from Equity Bank.
- Finalize Purchase: Find your token, enter the investment amount, and press ‘Buy.’
Equity Bank Cryptocurrency Policy
Equity Bank is receptive to digital currency investments. It collaborates with platforms that align with the directives established by the Central Bank of Kenya (CBK) or similar global regulatory authorities like the Financial Conduct Authority (FCA). Bybit is our recommended platform for the bank’s users. Its strict adherence to Kenyan financial norms and advanced security measures guarantee its customers dependable opportunities for cryptocurrency investment.
Digital Asset Investing Fees
Digital asset investment can incur various fees, and getting a handle on the cost framework for investing in cryptocurrencies is essential for optimizing your financial gains. Here are some of the main costs you associated with using a digital asset exchange:
- Trading Costs: Generally, you will have to pay a fee for each transaction. Bybit applies a low fee of 0.1% of the total transaction amount.
- Fund Transfer Fees: The costs for adding funds to your account depend on the payment method. Credit or debit card deposit fees can reach 2%, while bank transfers are usually free.
- Withdrawal Expenses: These costs vary depending on the type of token. For Bitcoin, the standard fee on most platforms is 0.0005 BTC.
In comparison to other exchanges, where fees can amount to 5%, Bybit offers an affordable and user-friendly approach. Its attractive features include free KES and USD deposits, plus competitive overall rates.
What is Equity Bank?
Equity Bank, established in 1984 in Kenya, has evolved from a building society into a leading African financial institution. The bank offers a broad spectrum of financial services, such as personal banking, corporate and investment banking, microfinance, and mobile banking solutions. Headquartered in Nairobi, it's part of the larger Equity Group Holdings Plc and serves over 14 million customers in 6 countries across Africa.
With a strong focus on digital innovation, Equity Bank provides internet banking, a mobile banking app, and Eazzy Banking, a platform that simplifies transactions. It aims to empower customers by providing accessible and convenient financial solutions, reinforcing its commitment to financial inclusion and socio-economic development. The bank emphasizes professionalism, integrity, and creativity as its core values.
Final Thoughts
In short, Equity Bank employs a strategic approach that allows its customers to trade cryptocurrencies while conforming to Kenyan financial policies. We found Bybit to be the most qualified exchange for the bank’s users entering the crypto investing space owing to its efficient support for Kenyan Shilling transfers, advanced security protocols, diverse coin offerings, and unique features such as copy trading and staking options.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
