In this article I will talk about the best practices of buying and selling bitcoins in Zimbabwe. I will explain the ways of acquiring bitcoins if you want to do it in Zimbabwe. Let’s discuss the normal way of how people buy bitcoins.
Firstly I will explain how other countries actually do the process of buying bitcoins which is an easy process but it’s a different case for Zimbabwe. The first thing you have is your bank card and money in your bank. What you just need is to have is a bank card that is connected to your bank account and once it’s connected to your bank account you can use an exchange website to buy the bitcoin.. Look at the diagram below
What I mean by an exchange website, think about when people say they are buying goods online the same way they buy clothes, goods on Alibaba, Takealot. All these platforms where they buy goods and services everything is connected to their bank. So if you are going to buy a computer the money will be deducted from your account and the computer will be delivered to you.
So in that case if you want to buy bitcoins what you are simply doing is you go to an exchange website where you give them your money, your bank details and they will deduct that money from your bank and then they deliver the bitcoins in your bitcoin wallet or bitcoin account. The reverse is true when you need to sell your bitcoins. It should work as easy as you moving your bitcoins to an exchange website. An exchange website is where you say I have got bitcoins that I need to dispose and I need to have cash. Cash is then transferred to your bank account.
Video Explanation below
You just say the amount of bitcoins you want to sell and then the exchange website is just going to send the money to your bank account. You can actually use your MasterCard or visa on an ATM to withdraw that money or to swipe in a supermarket or any other outlet that uses visa or MasterCard or you can withdraw the money as cash from your bank.
If you live in any other country that is not Zimbabwe, this is how the process works. For some other countries that’s how they do it. Now when it comes to Zimbabwe it is a different case. The first challenge you are going to face is probably the bank. If you indicate to the bank that you want to buy bitcoin they may not allow you to do that because when you are actually buying crypto currencies you need to apply to the authorities first that u want to do this, what is the return investment and things like that. Other people may find this process difficult and that means it’s actually out of the picture. On most exchanges if you apply to them from Zimbabwe and say you want to buy bitcoin from Zimbabwe on their exchange, they will say that sorry we don’t offer a service to people in your country. So that’s basically the challenges you may face and it leaves you with an option to find other ways to get bitcoin in Zimbabwe.
If you are reading this article and you are not from Zimbabwe probably you need to understand that if you are instructing someone who is in Zimbabwe to buy bitcoin through the bank, this is the challenge that they face. Maybe it’s because of the sanctions, l really doesn’t know the reason why but the connection between the bank and the exchange website is not as easy as it is in other countries. People there can’t easily get bitcoin through the bank. This is the process and the challenges that Zimbabweans face. For instance you cannot use PayPal to receive money in Zimbabwe. Recently I have done a video whereby a company called skrill.com which was online USD wallet, they just closed and said they no longer offering service to people in Zimbabwe. These are some of the challenges that we face in Zimbabwe.
Number 1 way to buy bitcoin from Zimbabwe
You need to buy bitcoin from people and or you can sell your bitcoin to people. I have got a lot of newbies who actually come to me, they get approached on Facebook where someone is offering them a bitcoin deal and they Google on how to buy bitcoin, get stuck and things like that. If you have to get it to work you need to buy it from people, look for people who are selling bitcoin. This is the method that l recommend if you are living in Zimbabwe.
So what l want you to understand is that the largest number of community of people that are actually using bitcoin in Zimbabwe are people that are doing MLM and Forex trading. In other countries there are different use cases of people that are using bitcoin. There is a lot of start-ups and a lot of businesses in countries that are using bitcoin, for instance let’s say you sell cars you can start accepting bitcoin as form of payment. When it comes to Zimbabwe the business community really has not paid attention to bitcoin. I really don’t know why maybe it’s our restrictions to the use of bitcoin or because it’s not being promoted that much.
The number one move of bitcoin in Zimbabwe is on MLM network marketing. This is the largest community that is using bitcoin in Zimbabwe. The second largest community is forex traders. So you need to find out where these marketing people and forex traders hang out. As a beginner it can be difficult to find these communities because you are just getting started with bitcoin and you don’t know where they really hangout, like for instance l have got different WhatsApp groups from 2016 and 2015 of people that have been involved in bitcoin and I have been able to build relationships with a lot of people. If you are going to be using this method, this is the most effective method but you need to buy from people you only know and trust.
A lot of people come and buy bitcoins from me and they use some of the terminology or terms that l can see clearly that this person is very new to the bitcoin world. If you use some of these terms u get risk of being scammed. I am not going to tell you the terms that a lot of newbie’s use, but if you use such terms someone can sense that you are buying bitcoin for the very first time and they can actually steal from you. So whenever you are doing this especially when you are getting started make sure that you buy from people whom you know and trust. Sometimes you can send someone money and they don’t send you your bitcoin; they are scammers around the bitcoin. So you need to buy bitcoin from people that are doing bitcoin.
Number 2 way to buy bitcoin from Zimbabwe
If you are going to buy bitcoin use a website which is called Cryptogem. Cryptogem is a website that was initiated by a friend of mine to help people to buy and sell bitcoin. All you need to do is just to go to the website; you can actually buy and sell bitcoin there using Ecocash or Zipit.
In the diagram above, shows people that are selling bitcoin, they use Skrill, PayPal and quite a number of different payments. These are difficult for newbie’s to understand but if you have any questions you can actually reach out to their support via any of these channels. It is a great place to buy and sell your bitcoins. The reason why l recommends this method is because they have what is known as Escrow service. Escrow works in a way where you indicate that you need to buy bitcoin, they will keep your bitcoin for you on this account, you connect with the seller on this website and then they can do the exchange for you. The company takes a bit of commission between you and the seller. This is the safest way if you are dealing with strangers and this company can be a mediator for the transaction. So think of a situation where you are going to buy bitcoin from someone who is new, whom you don’t know and you may have trust issues. Someone may say send me bitcoin or give me cash first and things like that but this website can actually help you to become a middlemen for you.
Number 3 way to buy bitcoin from Zimbabwe
Airtm is also another website or method l recommend. You can actually use Airtm to buy bitcoin from people around the world. Though the process is not really straight forward, it really works and you can actually use it to buy bitcoin. Airtm is a US dollar account where you can actually keep you money. This website bring across a different people from different nations.
When l am there, let’s say l need to buy bitcoin I would go on the website and say I’m looking for a hundred dollar worth of bitcoin and I’m willing to pay via western union. The person in the states can say l have got bitcoins at this much and you negotiate and then you send them the western union and they will release your bitcoins to your Airtm USD account. This one is a lengthy process but it does work.
If you are new to bitcoin, l have got a bitcoin for beginner’s course. If you go to my website , you go under courses, once you get to courses you are going to see a couple of courses that I have actually done. I recommend that you check out the bitcoin for beginner’s course which covers everything that you need to know as a beginner if you want to use bitcoin. A lot of people they come to me and say someone approached me on Facebook and they want to help me make profits, you realise that people are so much focused on profits and not the knowledge. If you are new to bitcoin make sure you check out one of my bitcoin beginner’s course.
Did I miss anything? If l did miss anything in terms of how you actually buy bitcoin in Zimbabwe 2021, l would love to hear your thoughts in the comment section below. I may have missed some of these methods and things that are working for you. So if you have any other questions just leave a comment in the comment section below. I will be more than happy to assist you and more than happy to learn from you as well. If you love this article pleas share it with your friends and give it a thumbs up.Recommend0 recommendationsPublished in