In this article, we will talk about “How to Buy Bitcoins in Zimbabwe.” Well, there are a lot of cryptocurrency exchanges to buy any cryptocurrency in the world. Each exchange has its account opening process, the fee for trading ( buying and selling Bitcoins, or exchange bitcoins with other cryptocurrencies) and other features.
For you, we will introduce the exchange, guide you about the account opening process, will do the review (pros and cons of exchange, user’s online reviews) and explain the complete trading process for beginners to get started. Before we get started, let me give you a short introduction of some terms like “cryptocurrency,” “Bitcoin wallet Wallet, “Blockchain Technology” and “Initial Coin Offerings (ICO).”
- What is Cryptocurrency: Cryptocurrency is advanced money for which encryption systems are utilized to manage its utilization and produce it. Unlike fiat money — like US dollars, Euros and yen — Cryptocurrency is not directed or controlled by any bank, government or incorporated budgetary experts. Read more about it here.
- What is Bitcoin Wallet: Although Bitcoin is a decentralized worldwide currency with no need of Banks for its control and distribution, it needs a place of safekeeping. Bitcoin wallets are required just for this; just as Bitcoin is digital, so are most wallets. Unlike a bank account, a Bitcoin wallet assures the anonymity of the wallet owner and is easy and quick to open. In fact, it takes only a few minutes to open a wallet, which activates immediately. Read more about it here.
Related reading, see: How to Protect Your Bitcoin Wallet
- What is Blockchain Technology: The blockchain is a decentralized ledger used to record transaction or data across several computers, such that the record cannot be changed without changing all subsequent blocks in the network. This means that transactions cannot be deleted. It enables users to verify transactions easily. By being decentralized, it is difficult for hackers or cyber thieves to exploit Blockchain transactions. Read more about it here.
- What is Initial Coin Offerings (ICO): ICOs are an unregulated means by which market capital is raised for a venture. What happens is that a white paper is created declaring the purpose and agenda of the project. It identifies the goals and objective and what amount of money is required to achieve them. It also specifies how long the ICO campaign is going to run for. Read more about it here.
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How to Buy Bitcoins in Zimbabwe
To buy bitcoins in Zimbabwe, first, you need to open an account on the cryptocurrency exchange which is operated in Zimbabwe, and then follow the trading procedure for that exchange to buy bitcoins or any other cryptocurrency traded at that exchange. In this article, we will cover account opening procedure, trading guide, payment methods offered by that exchange, and security and features like fee, etc. charged by that exchange. So Let’s talk about best exchanges to buy bitcoins in Zimbabwe.
Buy Bitcoins in Zimbabwe via Cex.io
CEX.IO is one of the world’s famous platform, mostly used by the professional traders. It is a London/ UK oriented exchange initiated in 2013 that allows the user to sell, buy and trade with the cryptocurrencies. In the sea of cryptocurrency exchanges, the reason of fame for the CEX.IO is that it allows the withdrawal of fiat currency using credit cards. Many exchanges do not provide this facility. CEX.IO offers the number of different pairs of cryptocurrency for the trading purpose. Few of them are BTC/USD, BTC/GBP, BTC/RUB, ETH/BTC, ETH/ETH, LTC/USD, LTC/BTC, BTC/EUR, etc. Moreover, the exchange rates on CEX.IO are based on the market activity. Traders on CEX.IO exchange buy and sell the bitcoins at the time of rate fluctuation. The rate of the exchange is changing with the rates of the market, but it remains in between 0.5% to 2% of the market rate. The overall rates at CEX.IO exchange are higher as compared to other exchanges, so, it is important to note before an individual choose CEX.IO for trading purpose.
For Related Cex.io Guides, Please see:
Buy Bitcoins in Zimbabwe via Coinbase
Coinbase’s GDAX is a cryptocurrency exchange that deals with both fiat currency and cryptocurrency. It trades USD for Etherueum, Bitcoin, and Litecoin. A Coinbase’s GDAX allows some cryptocurrency pairs trading via Coinbase’s platform. GDAX also permits the user to trade Euros and USD for Bitcoin, Litecoin, and Ethereum. People can also useThe British ponds for bitcoin trading, and the user can also use Bitcoin for Litecoin and Ether and Litecoin and ether for the trading of Bitcoin. But one important thing is not all trade types are used. Like if the user wants to trade with Litecoin for Ether he cannot do it directly. He has first to change Litecoin to Bitcoin then trade it with ether. So, the choice of coin pair for trading is limited in GDAX, but still, GDAX is a smart platform to initiate with the cryptocurrency business for anyone. GDAX is almost operating in every state of the USA. It is one of the platforms of Coinbase, and it offers low fees for the trading of cryptocurrencies as compared to the other exchanges of the market. Its feature that attracts people towards GDAX exchange is that USD can be converted into cryptocurrencies and then back into the fiat currency easily. If the user is comfortable with the usage of Coinbase exchange platform then for him the next reasonable step is to move towards the GDAX due to its lower fees. After having full knowledge of the GDAX user can step forward to other related altcoin exchanges.
For Related Coinbase Guides, Please see:
Buy Bitcoins in Zimbabwe via LocalBitcoins
Local Bitcoins is a Finland based bitcoin exchange that operates using a different exchange method. It makes use of over the counter trading method that allows users to trade using their local currency for bitcoins. Local Bitcoin is different in the sense that it allows users to quickly find and connect with local Bitcoin traders. Local Bitcoin collects a one percent fee on each trade as this is in exchange for providing the platform and other resources for users. On Local Bitcoins, sellers put up ads on the website for potential buyers who are interested in buying Bitcoins.
We are currently working at 247 exchange to buy bitcoins in Zimbabwe. We will soon update our review, account opening and trading guides.