What Is Bitcoin? Bitcoin is the first successful decentralized cryptocurrency based on peer-to-peer technology with no central bank or authority involved in the transaction and production of the Bitcoin currency.
Though Bitcoin is not a legal tender in Zambia you can purchase it on cryptocurrency exchanges like Paybis and CEX and other several places. Here is how to buy Bitcoin in Zambia.
- You will need a bank account with a VISA or Credit Card
- Bank account with service to make an international transfer
Very few people have credit cards in Zambia but this is the easiest way to buy cryptocurrency else a normal debit VISA card requires further bank approvals when purchasing.
Also, inquire from your bank if they allow transferring money to cryptocurrency exchanges. If you are with Barclays Bank Zambia, Stanchart and Stanbic it’s straight forward using the Credit Card facility.
List of Online Wallets and Exchanges You Can Buy Bitcoin from
Payeer is good at exchanging and trading because you can determine or ask for your own value to buy and sell Bitcoin. But they charge high fees for transactions and of recently removed the VISA to remain with MasterCard only.
Paybis is also easy to use once you are verified. The minimum transaction to buy Bitcoin is $70 USD using the credit card.
Paybis fees are also very high $5 for Credit/Debit Card plus 3% + $3.5usd
To register with Paybis Ltd click here.