Which app can i use to buy bitcoin in zimbabwe

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Buying bitcoin and cryptocurrencies in Zimbabwe

Zimbabwe-flag

Buying bitcoin and other cryptocurrencies in Zimbabwe is a simple process and usually takes less than 10 minutes to get fully setup.

The first step is to register with a platform, app or exchange and complete a Know Your Customer (KYC) process.

Bitcoin hardware wallets

The exchange you choose will be interoperable with most devices, desktop and mobile, and will allow you to withdraw to your own personal hardware wallet.

here are also several options available for buying and selling without verification on P2P exchanges, although they are much less user-friendly and are recommended for more advanced users.

Requirements to buy cryptocurrency in Zimbabwe

Before purchasing, there are a couple of important things you’ll need to prepare:

  • A passport, national identity card, or driver’s to complete the KYC process.
  • A private and secure internet connection, public WiFi is not recommended as it may pose security problems.
  • A mobile phone to verify your identity using two-factor authentication (2FA).
  • A bank account or credit card you can use to make fiat currency deposits to purchase cryptocurrencies.
  • A crypto wallet to store your assets. Almost all exchanges will offer built-in wallets, but it is important to withdraw your crypto to your own personal cold wallet for optimal security.

Steps to Buy Cryptocurrency in Zimbabwe

1. Create an account with an exchange

Zimbabwe has 3 trusted exchanges available for you to sign up for, with the most popular being Kraken and Coinmama, which account for a combined 8,800,000 active users.

Both exchanges are considered to be beginner-friendly and offer multiple deposit methods and a variety of cryptocurrencies.

Exchanges will differ by fees, security, payment methods, and other features, so explore the “info” tab on the exchanges listed above to find which one is the right fit for you.

The platform you end up choosing will depend on your preferences and the cryptocurrencies and payment methods they support.

Also it’s important to note that you can always sign up to other exchanges later.

2. Complete the KYC verification process

After signing up to an exchange you will need to verify your identity and address, which is part of the Know Your Customer (KYC) process. This is an unavoidable legal requirement for almost all exchanges in Zimbabwe.

To complete this step you will need your photo ID readily available to take pictures of both the front and back sides of the document.

In most cases your verification will be approved instantly and at most can take 1-2 days.

3. Make a fiat deposit

To begin buying bitcoin and other cryptocurrencies you will need to link a bank account or credit card to the exchange.

Some of the payment methods provided by Kraken and Coinmama are: Electronic Funds Transfer, Bank Transfer (SEPA), Wire Transfer.

Depending on the payment method, it could take anywhere from a couple of minutes to days for the funds to arrive at the exchange.

4. Buy cryptocurrency

Deposit fiat for bitcoin

Once your account has been funded, you are ready to buy your first bitcoin. It’s important to note that you do not need to buy a full bitcoin.

Most exchanges will let you buy as little as a few dollars worth of bitcoin, or any other cryptocurrency.

5. Send your bitcoin to a personal wallet

Bitcoin hardware wallets

Once you’ve purchased bitcoin or your cryptocurrency of choice it’s important to withdraw it to your own secure personal wallet.

Leaving your coins on an exchange poses a security risk as many exchanges are targets for hackers to steal user funds. Storing your own coins on your personal hardware wallet mitigates that risk.

Zimbabwe now has a Bitcoin ATM that is providing people with another way to buy and sell Bitcoin and Litecoin. The first of its kind in the southern African country, the 2-way ATM was deployed and activated in the first week of April 2018 and follows the nation’s growing interest in cryptocurrencies.

The ATM was shipped into the country by the largest cryptocurrency exchange in Zimbabwe, Golix. It has been placed at Golix’s customer support offices located in the business district of Zimbabwe’s capital city, Harare. Currently, users can only access it during weekdays from 8 am to 5 pm but Golix has stated that it is set to move it to another location with 24-hour access.

As far as continental strides go, Zimbabwe joins a very short list of African countries that have invested in such machines at one time or another.  While a handful of countries like South Africa and Botswana reportedly deployed ATMs some years ago, at the present moment, Coin ATM Radar lists Zimbabwe’s Bitcoin ATM as one of the only two that are active on the continent. the other one is in Djibouti.

Cryptocurrency brings US Dollar and Cash Functionality to a Broken System

The exclusivity of the ATM is hardly the focus, though. All the talk so far, especially in Zimbabwe, has been about how this ATM is actually dispensing cash – specifically US dollars – to sellers of cryptocurrencies.

Zimbabwe has a lasting, nasty reputation for having recorded the worst levels of inflation in modern history. In 2009 the country dropped its own currency which had reduced ordinary people into paper trillionaires. It adopted a multi-currency system that placed the US dollar as the base currency for financial services, including ATM withdrawals.

Less than a decade later, the economy is now plagued by a severe foreign currency and cash shortage which was supposed to have been fixed by a local pseudo-currency introduced in 2016 by the central bank called the bond note. Both the bond note and the US dollars are hard to come by and are actually sold on the streets by numerous black market traders.

As such, local banks haven’t been using their ATMs for bond notes, let alone US dollars. The Bitcoin ATM, which is also the only 2-way ATM in Zimbabwe, is a striking anomaly in this environment, providing a normal banking experience with the trade of cryptocurrency which the government does not officially recognize as a currency.

Points for Cryptocurrency and Digital Literacy in Africa?

So, in all of this, what is the ATM supposed to achieve? According to Golix CEO, Tawanda Kembo, one of the reasons for getting the ATM was to provide cryptocurrencies newcomers with an easy-to-understand way to buy Bitcoin and other digital currencies.

Kembo pointed out that despite the frenzy around bitcoin and cryptos in Zimbabwe in the past year there is still a good number of people who are yet to understand the value of digital currencies even as a real money alternative. There are also some who have heard about bitcoin and would love to get their own but are held back by challenges like digital illiteracy. The ATM was a response to requests for something that would make the buying of cryptos easy.

What are your thoughts on Bitcoin ATMs? Can they play a role in encouraging the adoption of cryptocurrency in markets with a low adoption? 

Images courtesy of Facebook, 

Home » Buying

How To Buy Bitcoin in Zimbabwe?

BuyingJournalHow To Buy Bitcoin in Zimbabwe? Petar JovanovićPetar Jovanović Petar Jovanović

Easiest and cheapest ways to buy crypto in Zimbabwe

Getting bitcoins in Zimbabwe is not an easy task as not all popular crypto exchanges are available to Zimbabwean citizens. This is a current list of bitcoin exchanges that allow users from Zimbabwe to buy crypto. They all support buying crypto with credit/debit cards but some of them offer other payment methods as well.

Regulated & high liquidity

How To Buy Bitcoin in Zimbabwe?

Kraken

Ease of Use – Easy
👛 Fees – Average
👛 Verification – 2-3 Days
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, JPY, CAD

is one of the oldest and biggest centralized cryptocurrency exchanges on the market. It was founded in San Francisco, California, the United States, in 2011. It has over 6 million users all over the world. Kraken offers 90+ cryptocurrencies that you can buy, sell, and trade.

– Easy– Average– 2-3 Days– Trusted– USD, EUR, GBP, JPY, CAD Kraken is one of the oldest and biggest centralized cryptocurrency exchanges on the market. It was founded in San Francisco, California, the United States, in 2011. It has over 6 million users all over the world. Kraken offers 90+ cryptocurrencies that you can buy, sell, and trade.

More info +

start trading

Today, Kraken is available in more than 170 countries around the world. It is registered under FinCEN in the U.S., but residents from New York and Washington aren’t allowed to use it. It is a user-friendly exchange and an excellent platform for safe and secure transactions. It supports buy/sell, send/receive, exchange, margin trading, OTC trading, staking, limit, market, and stop-loss limit order, futures, take profit market order, and more.

⚡️ Deposit fees:
EUR SEPA Deposit (Free) – EEA countries only USD Bank Wire Deposit ($5 USD) – US onlyEUR Bank Wire Deposit (€10) – outside the US only USD Bank Wire Deposit ($10 USD) – outside US onlyJPY Bank deposit (Free, ¥5,000 deposit minimum) – Japan-only USD, Wire Deposit (Free)
⚡️ Withdrawal fees:
Cryptocurrency: Fees vary, SEPA Withdrawal (€0.09) – EEA countries only USD Bank Wire Withdrawal ($5 USD) – US only USD Bank Wire Withdrawal ($60 USD) – outside US onlyEUR Bank Wire Withdrawal (€60) – outside US onlyJPY Bank withdrawal (¥20) – Japan onlyCAD EFT Withdrawal ($10 CAD)
⚡️ Trading fees:
Maker: 0.16%Taker: 0.28%
⚡️ Payment Methods:
Fedwire, Bank Transfer (SEPA), SWIFT, Wire Transfer, Etana Custody, Silvergate Exchange Network (SEN), FPS, CHAPS, and BACS, PayID, Osko
⚡️ Supported fiat:
USD, EUR, GBP, JPY, CAD

  170+ countries supported
  Never been hacked
  Mobile App (iOS and Android)
Various payment methods
A wide range of cryptocurrencies is available

Fees slightly above the industry average
Limited customer support

Regulated & high liquidity

How To Buy Bitcoin in Zimbabwe?

Changelly

Ease of Use – Easy
👛 Fees – Average
👛 Verification – 1 day
👛 Reputation – Trusted
👛 Supported fiat – USD, JPY

 is a trustable site that can be used to exchange between various cryptocurrencies.

– Easy– Average– 1 day– Trusted– USD, JPY Changelly is a trustable site that can be used to exchange between various cryptocurrencies.

More info +

start trading

Changelly was founded in 2013 in Prague, Czech Republic, by the same guys who established MinerGate, one of the largest mining pools that exist today, so it’s a reliable company. Within a year Changelly has managed to attract over 100,000 users, which is really impressive. Changelly reached the 1,000,000 users milestone in April 2017, which shows how popular this cryptocurrency exchange website is becoming in such a short span of time.

⚡️ Deposit fees:
Changelly does not have set fees due to the volatility of cryptocurrencies
⚡️ Withdrawal fees:
None
⚡️ Trading fees:
0.25%
⚡️ Payment Methods:
Debit Card, Credit Card 
⚡️ Supported fiat:
USD, EUR, GBP

  Wide range of cryptocurrencies
  Low crypto-to-crypto exchange fees
  Easy to use

Not regulated in the U.S.
High fiat-to-crypto rates
Limited payment options

Best Bitcoin Wallets in Zimbabwe

It is never a good idea to keep your coins on an exchange as that exposes you to numerous risks (exchange hacks, fund freezes by the exchange or some government regulatory body, etc). That is why you should use one of the wallets we list below to store your digital assets. The safest option is a hardware wallet like Nano X but ZenGo is also a good choice, especially for newcomers.

Bottom Line

Pros

Cons

ZenGo

ZenGo

Mobile

Visit Now

Bottom Line

ZenGo is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes less than 20 seconds.

is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes less than 20 seconds.

Pros

extremely safe as it uses biometrics for security
you can buy crypto directly from it
has savings and staking account

extremely safe as it uses biometrics for securityyou can buy crypto directly from ithas savings and staking account

Cons

No major flaws

No major flaws

Exodus

Exodus

Desktop

Visit Now

Bottom Line

Electrum is one of the oldest and most popular desktop multi-currency wallets which is compatible with Windows, Mac, and Linux

is one of the oldest and most popular desktop multi-currency wallets which is compatible with Windows, Mac, and Linux

Pros

One of the oldest wallets in the market
you can buy and stake directly from the wallet
supports all major coins and blockchains

One of the oldest wallets in the marketyou can buy and stake directly from the walletsupports all major coins and blockchains

Cons

Not completely open source

Not completely open source

Ledger Nano X

Ledger Nano X

Hardware

Visit Now

Bottom Line

Ledger Nano X is a leading and most secure cold storage wallet that connects to your device via Bluetooth.

is a leading and most secure cold storage wallet that connects to your device via Bluetooth.

Pros

Safest wallet in the market
competitive price
supports a lot of coins
you can buy directly from the wallet
stake directly from the wallet

Safest wallet in the marketcompetitive pricesupports a lot of coinsyou can buy directly from the walletstake directly from the wallet

Cons

Small display
complicated to setup for newbies

Small displaycomplicated to setup for newbies

Read also:

Established & high liquidity

Localbitcoins

LocalBitcoins

Ease of Use – Easy
👛 Fees – Low
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, and more

is one of the oldest P2P online marketplaces where you can buy and sell Bitcoin. It is considered the largest peer-to-peer crypto platform. LocalBitcoins is based in Helsinki, Finland.

– Easy– Low– 1 Day– Trusted– USD, EUR, GBP, and more LocalBitcoins is one of the oldest P2P online marketplaces where you can buy and sell Bitcoin. It is considered the largest peer-to-peer crypto platform. LocalBitcoins is based in Helsinki, Finland.

More info +

start trading

LocalBitcoins was founded by Jeremiah Kangas in 2012. It operates in more than 240 countries worldwide. The platform is a peer-to-peer network that connects sellers with buyers in the local area. Users post ads on the platform in which they state payment methods and exchange rates for purchasing or selling Bitcoins. Then, other users reply to these ads in order to make a transaction. LocalBitcoins has a great reputation in the crypto market and it pays a lot of attention to regulations and security of the platform.

⚡️ Deposit fees:
Free
⚡️ Withdrawal fees:
Free
⚡️ Trading fees:
1%
⚡️ Payment Methods:
SEPA, Wire Transfer, Paypal, WeChat, MoneyGram, Credit Card, Debit Card, etc.
⚡️ Supported fiat:
USD, EUR, GBP, RUB, and more (most currencies)

  It has been active on the crypto market for a very long time
  A large number of payment methods
  Available worldwide, in all countries

KYC is mandatory
Potentially meeting a person face-to-face might be unpleasant

Regulated & high liquidity

How To Buy Bitcoin in Zimbabwe?

Coinmama

Ease of Use – Easy
👛 Fees – High
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, CAD, AUD

Founded in 2013 in Israel,

– Easy– High– 1 Day– Trusted– USD, EUR, GBP, CAD, AUDFounded in 2013 in Israel, Coinmama is one of the oldest crypto exchanges in the business. With its current headquarters in Dublin, Ireland, this centralized cryptocurrency exchange allows its users to quickly and securely buy and sell cryptocurrencies.

More info +

start trading

Currently, 1.5 million users in over 150 countries worldwide use Coinmama’s services (excluding 11 states in the U.S). Coinmama is registered under The Financial Crimes Enforcement Network (FinCEN) in the United States. Coinmama sends the coins you buy via their platform directly to your own non-custodial wallet, never keeps them in their wallets.

⚡️ Deposit fees:
0 – 5 %
⚡️ Withdrawal fees:
None
⚡️ Trading fees:
2.9 – 3.9 %
⚡️ Payment Methods:
Bank Transfer (SEPA), SWIFT, Fedwire, Bank cards, Open Banking, Google Pay, Apple Pay, Skrill
⚡️ Supported fiat:
USD, EUR, GBP, CAD, AUD

  Available almost worldwide
  Mobile App (Android and iOS)
  Good for Beginners
Good Support
Various payment methods

A small selection of available cryptocurrencies
Not the lowest fees
Can’t do anything on the platform other than purchases and sells of coins

Frequently asked questions about buying Bitcoin in Zimbabwe

How do beginners buy bitcoins

Here’s a quick guide for buying your first Bitcoin:
Step 1 – Get a Bitcoin wallet.
Step 2 – Locate your Bitcoin address.
Step 3 – Choose the amount of Bitcoin to buy.
Step 4 – You will be navigated to Binance, where you can enter your Bitcoin address and payment information.

Is Bitcoin allowed in Zimbabwe

Zimbabwe has no plans of adopting cryptocurrency as a legal tender, according to Information Minister Monica Mutsvangwa. Zimbabwe’s government already ruled out any possible use of cryptocurrencies, including Bitcoin and ether, as legal tender due to their volatility.

Where is the Bitcoin machine located in Zimbabwe

A cryptocurrency machine is installed at 57 Jason Moyo Ave, Harare, Zimbabwe.

Does Kraken work in Zimbabwe

Kraken offers most services to clients living in Zimbabwe. Futures trading is restricted.

Does PayPal work in Zimbabwe

You can still open a PayPal account in Zim and use it to make payments if it is linked to your USD card, most often it’s a prepaid card. However, it looks like there is a “loophole” for Zim accounts to receive funds via a PayPal wallet and it’s through opening a Merchant PayPal account.

Is Coinbase available in Zimbabwe

No, Coinbase is not available in Zimbabwe.

Author

  • Petar Jovanović

    I am Petar and I come from a small country in South-Eastern Europe called Serbia. I am a big-time crypto enthusiast and I am proud to be a part of the project. My job with Captainaltcoin is the content editor and content writer position. Feel free to shoot me a message on Facebook if you would like to get in touch and talk about the emerging crypto world. Stay safe!

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CaptainAltcoin’s writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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