How to Sell Bitcoin in Tanzania

You can decide to sell bitcoin in Tanzania via an exchange, do direct trade, or carry out a peer-to-peer transaction. When selling bitcoin through an exchange, you will first need to create an account or log in to your existing account on the specific platform. Then, pick the “Sell” option and click your currency. Doing so will bring the page with offers to sell bitcoin.

Next is to pick your preferred payment method and enter the amount you want to trade. In the location list, select Tanzania then click “Find Offers” to find available offers. After finding an offer, click “Sell” enter the amount you want to trade, and click “Sell Now”.

A dialogue box will appear with a warning where you’ll need to confirm that you understand the risks involved by clicking “I Understand” and then trading begins. Discuss the necessary details of the trade with your trading partner and when your partner has made the payment, confirm the payment then click “Release” and the bitcoin will be released to the buyer’s wallet.

Bitcoin Price in Tanzania

Bitcoin prices keep changing according to the foreign exchange rates for a particular day. Different exchanges have bitcoin calculators which traders can use to find out how much their bitcoin is worth in Tanzanian Shilling.

Further tips on Bitcoin in Tanzania

With the increasing crypto scams around the world, it is important to ensure that you handle your digital assets in the safest way possible. This includes conducting thorough research before choosing a cryptocurrency exchange in Tanzania and storing your crypto in the best cryptocurrency wallets in Tanzania.

How to Buy Bitcoin in Tanzania

Bitcoin exchanges provide a safe place to buy bitcoin in Tanzania. The following are the basic steps of buying bitcoin through different platforms in Tanzania;

Choose your Preferred Bitcoin Exchange

With the rising popularity of cryptocurrencies, crypto exchanges are also increasing in numbers. It is best to conduct proper research on the available platforms to choose one that fits your needs. Things to look for when choosing a cryptocurrency exchange in Tanzania include:

1. Fees. Usually, the fees you pay will depend on the payment method you choose. If you are using a credit or debit card to buy bitcoin, be prepared to pay higher fees. For peer-to-peer trade, compare prices from different sellers and pick one you can comfortably afford.

2. Geographical Availability. It is important to ensure that the exchange you choose provides services in Tanzania.

3. Delivery Times. Consider how fast you want to get your bitcoin from the time of purchase. This will also depend on the supported payment methods because some payment methods such as credit and debit cards are faster than buying with cash.

4. Payment Methods. Before choosing an exchange, it is best to confirm that the payment method you need is available.

Register and Get Verified

After choosing a convenient payment platform, you will need to register for an account and go through their Know Your Customer (KYC) verification process. Note that some exchanges such as Pursa do not require you to register to transact.