How to Buy Cryptocurrency in Morocco
Buying cryptocurrency in Morocco
Four years after Morocco banned crypto, the country’s central bank is reconsidering its stance on virtual currencies. Despite the ban in 2017, their popularity continued to grow in Morocco. Bank-Al-Maghrib (BAM), the central bank of Morocco, couldn’t deny the appeal of cryptocurrencies and recently formed an exploratory committee to research the possible benefits of a cryptocurrency run by a central bank. So, while Bank-Al-Maghrib continues to practice caution when cryptocurrencies are involved, its exploratory counterpart will look into whether or not this institution could develop its very own cryptocurrency. Having in mind the fact that China’s central bank is already making progress with its digital yuan which could eventually grow to challenge the dollar, several central banks are considering this Central Bank Digital Currency (CBDC). The new committee has set out to identify and analyze the pros and cons of this CDBC, along with the possible effects on Morocco’s economy.
As of 20/03/2021
These exchanges all accept customers from Morocco. 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