How to Buy Cryptocurrency in Zimbabwe
Buying cryptocurrency in Zimbabwe
Peer-to-peer trading of cryptocurrencies continued to grow in Zimbabwe, despite the 2018 cryptocurrency ban. Furthermore, Zimbabwe’s indecisiveness in terms of monetary policies forced investors to turn to digital currencies. More interestingly, the country’s cryptomania caused such a fuss that made-up rumors about Bitcoin’s (BTC) price reaching a 600% premium began circulating in 2019. In 2020, The Reserve Bank of Zimbabwe (RBZ), decided to consider establishing a regulatory sandbox for crypto companies, which is in stark contrast to its prior anti-cryptocurrency attitude. This is allegedly part of a wider agenda by authorities to reconstruct the country’s financial sector, which has been struggling with hyperinflation for a while. Having in mind the popularity of cryptocurrencies among Zimbabwe’s younger population, Josephat Mutepfa, RBZ’s Deputy Director for Financial Markets and National Payment Systems, stated that instead of focusing on the ban, the RBZ was obligated to work out a regulatory system for the industry.
As of 20/03/2021
These exchanges all accept customers from Zimbabwe. 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
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