Home Insights & Advice How to buy Bitcoin in Africa – it is a hustle

How to buy Bitcoin in Africa – it is a hustle

by John Saunders
10th Aug 20 10:40 am

There are different ways to buy and sell bitcoin in Africa. There are reputable Bitcoin exchanges that you can buy from. These exchanges can be accessed through your personal computers or mobile device via an application or website. For proceeding with your trading, you will have to sing up and create accounts that need to be verified. After this is done, you can get a bitcoin wallet that will help you store the bitcoin that you purchase.

You will be able to transfer funds from any of the prime financial organizations in Africa to a bitcoin exchange. You will be ready to start trading as soon as your fund gets cleared. The bitcoins that you purchase can be shifted to your wallet if you don’t want to keep them online. If you’re going to start trading now, you can visit this website and Get access for determining when to buy bitcoins.

Here are different ways by which you will be able to buy bitcoin in Africa.

Different ways to buy bitcoin in Africa

When there is a system, there are various ways to access it as well. But before getting into that, let’s talk about bitcoins in general so that you know what they are and how you can best utilise them before you purchase.

What are bitcoins?

Bitcoin is the first cryptocurrency that was launched in the market. Its white paper was submitted under the name of Satoshi Nakamoto, whose real identity is yet to be known—keeping that aside, bitcoin since launched has breathed fresh air into the finance ecosystem. Yes, like every other investment option, bitcoin has ups and downs alike, but it has known to be the best and most efficient cryptocurrency out of them all.

It has helped unbanked people, bank their income, and earn profits on it. They are even allowed to make online purchases of almost any commodity or service that accepts bitcoins. Since it is one of the most famous cryptocurrencies so you can be, rest assured that nearly all the top organisations will have this service.

As you can see that if you invest in bitcoins, you will be able to use it typically for almost everything from sending money cross borders without exchange fees, paying for daily requirements, and many more utilities. Hence, if you are interested in this service, the following points below will help you choose the right method of buying bitcoins.

Buying bitcoin in Africa

Here are a few things that you can follow and purchase bitcoins whenever you like.

1. Bitcoin Exchanges offer bitcoins

Investing in something needs research; it is right about anything that you invest in. This means that you will buy a car because it will make your life easier, not because you had an empty garage and you had to fill it, right. So, when you buy a car to read about its features and how in different ways it will benefit you. It is the same for this. You have to look into the fee they impose on your trade and make a decision wisely.

2. Credit or Debit Cards for payment

When you open an account in one of the exchanges, you will have to choose a payment option, and often people select their credit or debit cards for making the transactions. Hence you can use your fiat currency to purchase bitcoins through an exchange with your secure payment method.

3. Use Bitcoin ATMs

There are many BTMs in Africa that you can use to deposit money and purchase bitcoins, but you will not be allowed to cash out the profits you make from selling bitcoin.

4. Make Profits through bitcoins

As bitcoin is growing in popularity, its value is increasing as well. So you have the opportunity to gain massive profits from time and again. This can be exchanged from a reputed organisation. You can use the PayFast gateway that is one of the best for bitcoin transactions.

5. Join Bitcoin communities for trading

There are a few places that you can look into for trading bitcoins privately. This will allow you to meet the person and make exchanges. But you have to beware of scammers.

 

The above information does not constitute any form of advice or recommendation by London Loves Business and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Appropriate independent advice should be obtained before making any such decision.

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