How to Buy Cryptocurrency in Grenada
Buying cryptocurrency in Grenada
Lately the subject of cryptocurrencies and Bitcoin has been steadily gaining popularity. Furthermore, there is a growing number of countries in the Caribbean that are beginning to recognize the economic potential of cryptocurrencies and supporting them through well-established legislative frameworks. This is mirrored by public enthusiasm to learn more about the industry itself, as well as in government attempts to regulate it. Unfortunately, Grenada still does not have any specific legislation to help regulate cryptocurrencies and cryptocurrency trading. But the good news is that it has signed up to participate in the ECCB (Eastern Caribbean Central Bank) pilot project. The project will involve launching of a blockchain-powered central bank virtual currency, and it is going to test the use of crypto alongside the official national currency. Like many other Caribbean countries, the government of Grenada is hoping such endeavours will boost the country’s economy and make it attractive for investors.
As of 20/03/2021
These exchanges all accept customers from Grenada. 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
Based in Singapore and registered in the British Virgin Islands, Bybit is a P2P cryptocurrency exchange offering perpetual futures products with 100:1 leverage. Bybit can process 100k transaction per second which is a great feature for leveraged trading.
- Advanced and secure technology
- Anonymous accounts
- Attractive trading bonuses
- Very low fees
- Limited asset coverage
- No option instruments
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