The demand for bitcoin continues to increase and German investors are increasingly interested in digital currencies. So ask yourself more and more: “Can you buy Bitcoins in Africa?”. After a short study it turned out not to be as easy as many other countries. In neighboring Austria, cryptocurrency is much more common than Africa, and the currency is irreversible as an alternative to the euro and other real currencies. Yet it is impossible to buy BTC in Africa. If you look closely, you can see. The possibilities for filling a Bitcoin wallet are not so diverse, so I will show you the following ways:
Buy Bitcoin in Africa: How It Works
Offline Bitcoins, for example, is unfortunately not yet possible in this regard as a step ahead of Austria to buy in Africa. Here, bitcoin can be bought at gas stations and special shops in the form of vouchers. Then it must be used only on the website of the provider, so that the coins can be placed in the digital wallet of the buyer. Conversely, bitcoins in Africa are only possible via the internet. Therefore, stakeholders should first search for all alternatives online and compare them to find the right investment. You have the following options:
Bitcoin on the market buy in Africa
Investors often decide to invest in digital currencies because of the anonymity of Bitcoin. To prevent outsiders from understanding the deal, Bitcoin provides an ideal platform for its customers. When buying Bitcoin, why investors value anonymity is not important. In Africa, for example, you can use the Bitcoin Marketplace. In addition to some German-speaking providers, there are numerous international platforms that allow you to buy and sell bitcoins. For example, Bitcoin.de is one of the most famous providers in the country, and there are daily active trades between users in the market. Therefore, the function of the market is already outlined. The buyer contacts the seller directly without the broker. The price is determined by supply and demand. Buyers can later sell Bitcoin via the market. To do this, you need a digital wallet, a bitcoin wallet. This saves all the bitcoins that the investor owns. Owning multiple wallets is as easy as registering for multiple Bitcoin marketplaces.
In the market, bitcoin exchanges are exchanged with other currencies, but it does not necessarily have to be euros. It is also available in other currencies and current prices are published on the market. Therefore, both parties can decide whether to trade under these conditions. If the transaction starts, the money is transferred to the merchant’s account and Bitcoin is transferred to the buyer’s wallet.
You may be charged fees when you trade in the market. The user must provide information in advance and compare different providers. As a result, in some cases you can save a lot of money later.
Buy Bitcoin on the German Stock Exchange
Options are an alternative to trading the market, but both are often confused with each other. Here the exchange acts as a broker, buyers and sellers do not contact directly. This is for Bitcoin Marketplace only. Transactions are done automatically, as classic currencies such as Euro and US Dollar are used. It exactly depends on the provider. CEX.IO is one of the most famous bitcoin exchanges. Buyers and sellers who wish to trade on the stock exchange must provide different information. The buyer must specify the price to buy bitcoin in this context. On the other hand, the seller must specify the amount of bitcoin you want to deposit and determine the desired price. The stock exchange then compares the individual offers and executes the trade on behalf of the client, if there are two matching offers. For buyers and sellers, the advantage is that you don’t have to manually search for the other party’s offer to find the right trading partner.
Fees may apply to the bitcoin exchange, but full payment is not very complicated. To buy Bitcoin in Africa, you must first pay the user account on the exchange. For this purpose, providers often offer different ways, often with a credit card deposit.
Direct buying and selling of Bitcoin
Since the number of owners of bitcoin is gradually increasing, direct trading between the two owners is also possible. You can know and contact other Bitcoin owners for trading purposes on websites like bitcoin-treff.de. Do you know who Bitcoin owners live near here? Bitcoin you buy in Africa for this variant is completely anonymous because you don’t have to replace your real name or address. The agreement is made without anyone knowing who the other person is. This buying method is not regulated, and there are no cases of intervention in the event of a problem. Therefore, it is impossible to detect fraudulent payments.
To buy and sell bitcoin yourself, you need a bitcoin wallet. After the buyer receives the payment, different types are also available – Bitcoin is sent directly to the digital wallet.
Buy Bitcoin in CFD form
All of the above options must have a bitcoin wallet with the coins being purchased. Therefore, the buyer owns the currency directly and can later resell it or use it as a means of payment for goods and services. But it is wrong for anyone to think that this is the only way to buy bitcoin in Africa.
Some variants do not include direct acquisition of currency. Hence, investors do not need a bitcoin wallet. CFD is a popular option in this regard, offering investors the opportunity to profit from rising and falling bitcoin prices. This form of investment is also suitable for new immigrants with low capital because they do not need to apply the value of bitcoin to their transactions. Instead, leverage is a financial instrument, so investors first get a loan from a bitcoin broker and reach the total amount required for the transaction. He pays only a part of himself. On the one hand, the advantage is that you get a high yield with relatively few uses. Losses, on the other hand, can exceed the amount of capital invested several times over. Therefore, CFD is considered a very dangerous way to buy BTC in Africa.
Investors should thoroughly compare different platforms before choosing a CFD broker. As a rule, all brokers that offer cryptocurrency can trade, but in some cases they differ greatly in terms of fees, expiration dates or leverage. This time is necessary to filter out the right proposal.
Buy Bitcoin Certificate
The certificate is applied as an alternative to CFDs where the investor does not own the currency. These so-called participation certificates reflect the development of share prices. It is a derivative. Anyone who wants to invest in a certificate must develop a strategy for it. The investment form is considered risky, so you should consider the tips for Bitcoin trading, as you can quickly lose money due to ill-advised actions. In addition, investors must make a deposit with the provider in order to purchase a participation certificate on the stock exchange.
Payment method for buying BTC in Africa
Anyone looking for an opportunity to buy bitcoins in Africa will necessarily compare the payment methods offered on each platform. For example, not everyone owns a credit card, so other investors use it only for payment purposes. Others conduct all transactions only via online payment services. Therefore, the comparison of payment methods can be considered very useful. One of the most common methods offered by providers including direct debit, bank transfer, credit card, Giropay, Neteller, Sofortüberweisung, PayPal, AstroPay or Paysafe the Paysafecard.
Bitcoin purchases are always very similar in terms of process, regardless of the payment method the investor chooses. You need to do the following steps:
- Open Bitcoin Wallet
Digital wallets are a basic requirement for Bitcoin transactions. Therefore, you need to open a bitcoin account before finding the right platform. Since Bitcoin Wallet exists as an online and offline solution, many investors prefer to mix the two proposals to obtain the best security for Bitcoin. The best personal solution for investors can only be found by comparing individual offers. You can trade one and the same wallet on multiple platforms, so there are no downsides for investors. At the same time, multiple wallets can be easily drilled for the platform.
- Find the right platform
After creating a digital Bitcoin wallet, you can find it not only in Africa, but also abroad to search for the right provider. Basically, the place of trading is no difference, but investors should get all the information about the platform before signing up. Trusted providers are regulated by government agencies and must meet certain security and other requirements. Since many websites are currently platforms for bitcoin trading and are the victim of hacker attacks, the security aspect in particular cannot be ignored. Additionally, investors should read reviews from other users to get an impression of the provider.
- Buy Bitcoin in Africa
The last step is to log in to the platform. This is usually fast, but some sellers require privacy to prevent fraudulent intent. There are different ways to verify your account. The user should be careful not to reveal too much information here. Otherwise, the aspect of anonymity quickly disappears. Once registered, investors in Africa can deposit and buy bitcoins to fill their wallets.
However, the described route only applies to direct trading in Bitcoin. If the investor decides to trade Bitcoin via CFD or certificate, they only need to create one account with the broker. Since the investor does not directly own the digital currency, no additional registration is required for the wallet.
How can I buy Bitcoin in Africa?
The possibility of buying BTC in Africa has been explained in different ways. But investors are still skeptical and wonder if it’s worth buying. To clarify this question, we look at the evolution that cryptocurrency takes in recent months and years. In 2015, for example, it was still possible to buy bitcoin at a price of 200 euros. Anyone who realizes the potential of digital currencies at or before that point will soon be delighted by the tremendous increase in value. After just two years, the value of the coin has already risen to 7,000 euros. At the moment, the question is whether the investment is worth it. It is clear that this constant price rise must eventually end. But experts predict that its value will soon exceed 10,000 euros. Nevertheless, those interested in investing always keep the risk of price reductions, and therefore the subject must be discussed in detail, so that all the pros and cons can be measured.
Some experts believe that it is not optimistic that a bubble is bursting instead of a five-figure number, which will help investors watch the market. If you keep an eye on the processes and news that can influence you, you can find great moments to sell or buy Bitcoin.
Of course, you should listen to the expert’s statement, but after all, whether you want to invest in bitcoin is up to the investors. He must compare the pros and cons and then decide if he wants to take the risk. Clear advantages are:
- Bitcoin can be transported all over the world without huge fees. Therefore, you can settle the invoice for goods or services in a simple way. For travelers, for example, it is an interesting alternative to the traditional exchange rate.
- Making anonymous payments Many people are afraid that they can follow every step, especially on the Internet. Bitcoin offers an anonymous alternative. Outsiders cannot see who paid. Even transaction partners remain unrecognizable.
- Investment with a high return potential. This requires investors to invest enough time and watch the price for their investment. If it continues to rise, the profits may increase.
Bitcoin as an investment: some tips
Bitcoin as an investment is not its own runner. If you only buy the currency and wait for its value to rise, there is a risk. Therefore, investors should discuss the topic in detail to get a market overview. As you know, supply and control control the price of Bitcoin. At the moment, the demand for coins is very high, so the price continues. But in the event of a sudden drop in demand, investors must act immediately. Timely sales of currencies can protect your currencies from high losses. Likewise, those interested in buying may find moments favorable to this venture. Investors should also invest enough time to compare platforms.
There is always a risk no matter how bitcoin purchases are made in Africa. Effective risk management is important to avoid losing all the money invested at once. This is the case, for example, when all capital is invested in a single investment. The danger must always reproduce. In the case of digital currencies, this does not mean that you should invest in a competitor of Bitcoin at the same time. In the past it has been shown that the price development of competitors is closely related, and in particular that falling prices of sector leaders can have a significant influence on the prices of small competitors.
Those who do not have time to track prices and business news should find another way to invest. Bitcoin is considered very sensitive to changes in the market, which can change quickly in the price process. Anyone who reacts too late here can lose a lot of money. On the other hand, performing an in-depth analysis and executing an effective strategy (e.g. Shorting bitcoin) has a much higher chance of success.
In short: many ways to buy BTC in Africa
Although other countries offer many more options than Africa, it should be noted that bitcoins in Africa can also be purchased via various channels. However, transactions are only done online, and marketplaces and exchanges can be used for this. However, this requires a Bitcoin wallet to send coins to. Alternatives are offered through CFDs, and investors can take advantage of price developments. No wallet is required, and investors have greatly reduced start-up capital. It is worthwhile for investors to compare the pros and cons of all offers.