Kenyans ask Binance their most pressing questions

Binance Kenya launched the #AskBinanceKE campaign on X, giving users a chance to ask the questions they’ve always wanted answered about crypto and trading on October 9.

The largest crypto exchange in the world says it received tons of thoughtful questions from across the country, and answered them accordingly.

These were the most common ones, along with answers from Binance experts. 

1. Is Binance suitable for small traders who just want to invest a little by little?
Absolutely. Binance allows users to start with small amounts, buy fractions of cryptocurrencies, and set up recurring purchases, perfect for those who want to invest gradually.

2. Does Binance have a customer support number or chat for Kenyan users?
While there’s no dedicated phone line for Kenya, Binance provides 24/7 live chat support. Users can access this feature by logging into their Binance account and clicking the support icon at the bottom right of the homepage. Binance Support Center

3. Does Binance offer educational sessions or webinars for Kenyan users?
Yes, Binance provides a wealth of educational resources through Binance Academy, which offers free tutorials, videos, and courses on various topics, including blockchain, trading strategies, and security. Additionally, Binance has hosted community events in Kenya, such as the meetup in Meru, focusing on peer-to-peer (P2P) and spot trading.

4. Can I use Binance to save in stablecoins like USDT as an alternative to bank savings?
Yes. Stablecoins like USDT and USDC allow you to hold digital assets pegged to the US dollar, giving you an alternative to traditional savings with flexible access.

5. Can Binance help me file tax reports for my crypto earnings in Kenya?
Binance provides users with downloadable transaction histories and reports, which can assist in tracking their crypto earnings. However, Binance does not offer tax filing services. It's advisable to consult with a tax professional to ensure compliance with Kenyan tax regulations.

6. Are there Binance community groups for Kenyans to learn and connect?
Yes. Kenyan users can join Binance communities on Telegram and social media to connect, share tips, and stay updated on crypto trends.

7. Does Binance have an official office or representative in Kenya?
Binance does not yet have a physical office in Kenya. However, the platform is fully accessible online, and local community managers support events, education, and engagement.

8. How does the Binance mobile app compare with the web version?
Both offer smooth experiences. The mobile app is ideal for on-the-go trading, while the web version is better for advanced charting and managing portfolios.

9. What are the top safety tips for Binance P2P trading?

• Trade only with verified users
• Only send crypto after the payment is confirmed on Binance.
• Avoid sharing personal information outside the platform.
• Never trust screenshots of payment proofs; confirm payments directly on Binance.

10. How does Binance’s referral program work?
Invite friends using your referral link, and earn a commission on their trading fees. It’s a simple way to earn while helping others start their crypto journey.

11. How often does Binance list new cryptocurrencies?
New coins are listed regularly based on demand, security, and project fundamentals. Announcements are made publicly, and users can start trading once the coin is live.

12. How do I safely participate in new token launches?

• DYOR!!!
• Research the project thoroughly.
• Invest only what you can afford to lose.
• Use Binance Launchpad or official events to ensure security.