How to Buy Cryptocurrency in Bosnia and Herzegovina
Buying cryptocurrency in Bosnia and Herzegovina
Looking into it, there are no actual regulating limits regarding cryptocurrencies and their purchase and trade in Bosnia and Herzegovina. However, this information is dampened by the unfortunate fact that the Central Bank of Bosnia and Herzegovina stated that the Bosnian Mark is the only legal means of payment in the whole country. In terms of exchanges that are supported in Bosnia and Herzegovina, only one such exchange exists, and that's Coinmama, a Bitcoin exchange considered popular worldwide. The lack of Bitcoin exchanges is most likely the direct result of the lack of popularity and regulations in the country. The country's economy is currently going through a transitional period, so cryptocurrency isn't really a top priority. That being said, it's virtually impossible to buy Bitcoin privately in Bosnia and Herzegovina as the country lacks Bitcoin ATMs. Furthermore, exchanges like Coinmama demand some form of ID verification before allowing the actual trade of Bitcoin
As of 20/03/2021
These exchanges all accept customers from Bosnia and Herzegovina. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below
OKEx is the second-largest cryptocurrency exchange in the world by volume. It posts over $2 billion in trades daily and has over 400 trading pairs.
- Good range of coins
- DEX trading
- No hacking history
- Not available in US
- KYC required
Founded in 2017, KuCoin has already managed to establish itself as “The People’s Exchange.” With 200+ cryptocurrencies and more than 400 markets, it has become one of the hubs for cryptocurrency trading.
- Vast selection of altcoins
- Ability to stake & earn crypto yields
- Robust security features
- No forced KYC checks
- No fiat currency deposits
- Trading volume is low
Changelly allows you to trade cryptocurrency without registration or verifying the identity through KYC. Being a non-custodial exchange, Changelly doesn’t require you to keep any deposits. The platform also works as a fiat-to-crypto gateway.
- Non-custodial exchange
- Great way to switch altcoins
- Doesn’t require extensive KYC
- 2FA security and high exchange limit
- A high transaction fee of 0.5%
- Unclear owners
- Sometimes their service is quite slow
Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan
- It can be used to trade against fiat options
- Robust security measures
- Free SEPA deposits in Europe
- Not a very beginner-friendly interface.
- No card deposit options