FAQ

Frequently asked Questions


Answers

How do I verify my account?

In order to buy any digital currency from our exchange you will need to complete the following steps and requirements:
1.   Sign-up and Create an account
2.   Open your registered email and Verify your account using the link in the email sent to you by Coinpesa.
3.   Login to your account and click on the submit KYC notification or go to your profile page.
4.   Complete the profile information which includes personal details and documents.
5.   Once completed click in the submit for verification button The Coinpesa team will receive the application and if there are no issues with the submissions they will approve the submission and you will receive a notification in your email and on the website.



Why was my KYC declined?

A KYC submission may be declined for several reasons, but most it’s commonly due to wrong information provided. Please note that while using your National ID to register, the required ID number is your NIN, not Card No.
And ensure to hold your ID card/passport visibly while taking the ID selfie.

How many digital currencies do you work with?

Currently, we deal with 4 digital currencies that include; Bitcoin, CoinPesa Token, Bitcoin Cash and Ethereum.

How do I make a deposit?

In order to make a deposit into your wallet, you may proceed as follows;
1.   Go the wallet page and click on the deposit tab.

coin pesa


2.   Then select the deposit payment method (mobile money or bank transfer/ cash deposit)


Deposit method

3.   Enter the required details such as mobile money number and amount
4.   Click on the send button to complete the transaction
 a) If using mobile money, the mobile money prompt will appear on your device which will request you to insert your PIN. Once done the transaction will complete and the funds will appear in your wallet shortly.
 b) If using the bank deposit method, you will be requested to insert the reference number quoted at the bank and the amount. If you have a deposit slip you may upload it as well (optional). Once these details have been submitted, the Coinpesa team will verify the transaction as credit your account within 1hour.


How to buy digital currency (bitcoin)?

In order to buy any digital currency from our exchange you will need to complete the following steps;
1.   Login to your account and go to the buy/ sell page

Buy

2.   Select the digital currency that you would like to purchase.
3.   Insert the amount of digital currency that you would like to purchase and the system will automatically calculate the price for you.
4.   Once satisfied with the price, enter your wallet address (if buying Bitcoin enter only a Bitcoin address), then click the buy button.
5.   The platform will deduct the funds from your wallet and send the digital currency to the specified address.


How to sell digital currency (bitcoin)?

In order to sell any digital currency using the exchange you will need to complete the following steps;
1.   Login to your account and go to the buy/ sell page

Sell

2.   Select the digital currency that you would like to sell.
3.   Insert the amount of digital currency that you would like to sell and the system will automatically calculate the price for you.
4.   Once satisfied with the price,
5.   Submit the order for processing
6.   Once approved by the system, you will be given an address to send the digital currency to
7.   Once received, the platform will credit your wallet with the funds
8.   You many then use the funds in your wallet to buy other currencies or withdrawal to a mobile money or bank account.


What are your charges per transaction?

  1. Deposits

    • We charge 1.5% for mobile money deposits while bank deposits are free

  2. Withdraws

    • We charge 2000/= for mobile money withdraws and 20,000/= for bank withdrawals

NOTE* Please put in consideration the mobile money and government tariffs while making your transactions


How do I withdrawal my funds?

In order to withdrawal funds from your wallet, you may proceed as follows;


  1.   Go the wallet page and click on the withdrawal tab.

    Withdraw

  2. Then select the withdrawal payment method (mobile money or bank transfer)
  3. Enter the required details such as mobile money number and amount
  4. Enter your password to confirm transaction
  5. Click on the send button to complete the transaction
Note*   Funds my take 5mins to 1hr to reflect on mobile money and Bank transfers my take up to 4 days.


How long do transactions take before being completed?

Time taken by transactions is not relative but we shall breakdown the average time taken by each transaction.

  1. Deposits happen in a space of about 5 minutes, and the funds shall reflect on your wallet.
  2. Buy orders take about 20 to 30 minutes to be completed
  3. Sell orders take about 1 to 2 hours to be finalised


Why was my transaction cancelled?

If a transaction is cancelled or declined it means that the payment window had elapsed before the transaction was completed meaning that he price could not be guaranteed and had to be reinitiated.


Is there a coinpesa App?

Not at the moment but it is something that we are working very hard to publish in the short term. However in the meantime, you may use our website on your phone.


Do you work 24 hours a day?

We are active from 8:00 a.m. to 10:00 p.m. from Monday to Friday. And 10:00 a.m. to 5:00 p.m. on Saturday and Sunday.