Buying Bitcoin Peer-to-Peer
Are you looking to buy Bitcoin in Africa but unsure of where to start? We recommend doing it peer-to peer because it is more private.
In this guide, we’ll explain how to buy Bitcoin peer-to-peer in Africa, which platforms to use, and how to stay safe throughout the process. Buying Bitcoin peer-to-peer in Africa is a great option for those who want to avoid the risks associated with buying Bitcoin from exchanges. It also allows for more privacy and flexibility in terms of payment methods.
Buying Bitcoin peer-to-peer in Africa involves finding a seller who is willing to sell it to you directly rather than through an exchange. This can be done through platforms that connect buyers and sellers directly and allow for more privacy and flexibility in terms of payment methods, such as bank transfers or mobile money. It is important to be careful when choosing a Bitcoin peer-to-peer platform and to only transact with reputable platforms with good ratings and reviews. There are so many platforms to buy Bitcoin peer-to-peer but for this guide, we will be sticking to the most reputable and widely used platforms. Here is a breakdown of the top platforms for Africans:
Non KYC
No
No
Yes
Yes
Website or Mobile App
Yes
Yes
Desktop
Tor Browser
Android or iOS
Both
Both
None
None
Ease of Use
Easy
Easy
Intermediate
Intermediate
Custody Risk
High
High
Very low
Very low
Bitcoin-Only
No
No
No
Yes
Fee
0.15% Seller
1% Maker
Varies
0.025% Maker and 0.175% Taker
Lightning Transactions
No
No
No
Yes
Escrow Services
Yes
Yes
Yes
Yes
Supported Currencies
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Non KYC: No
Website or Mobile App: Yes
Android or iOS: Both
Ease of Use: Easy
Custody Risk: High
Bitcoin-Only: No
Fee: 0.15% Maker
Bitcoin Lightning Payment: No
Escrow Services: Yes
Currencies Supported:
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Non KYC: No
Website or Mobile App: Yes
Android or iOS: Both
Ease of Use: Easy
Custody Risk: High
Bitcoin-Only: No
Fee: 1% Maker
Bitcoin Lightning Payment: No
Escrow Services: Yes
Currencies Supported:
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Non KYC: Yes
Website or Mobile App: Desktop
Android or iOS: None
Ease of Use: Intermediate
Custody Risk: Very Low
Bitcoin-Only: No
Fee: Varies
Bitcoin Lightning Payment: No
Escrow Services: Yes
Currencies Supported:
Non KYC: Yes
Website or Mobile App: Tor Browser
Android or iOS: None
Ease of Use: Intermediate
Custody Risk: Very Low
Bitcoin-Only: Yes
Fee: 0.025% Maker and 0.175%
Taker
Bitcoin Lightning Payment: Yes
Escrow Services: Yes
Currencies Supported:
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Step 1
Choose a marketplace.
From the P2P marketplaces we have provided. Choose a platform that suits your needs and preferences.
Step 2
Create an account.
Once you have selected a platform, create an account by providing your personal details and verifying your identity, which may involve providing proof of identity and address.
Step 3
Find a seller.
Search for a seller who is willing to sell Bitcoin at a price that suits you. Most P2P marketplaces have a search function that allows you to filter sellers by location, payment method, and other criteria.
Step 4
Due Diligence.
Verify the reputation of the seller by checking their ratings and reviews from other users, Always look for sellers with good ratings, reviews, and transaction histories.
Step 5
Initiate a trade.
Once you have found a seller, initiate a trade by specifying the amount of Bitcoin you want to buy and the payment method you will use. The seller will then provide you with their payment details, such as a bank account or a cryptocurrency wallet address.
Step 6
Make payment.
Make payment to the seller using the agreed-upon payment method. The payment may be made through a bank transfer or a cash deposit. Be sure to follow the payment instructions provided by the seller carefully.
Step 7
Confirm payment.
Once you have made the payment, inform the seller and provide proof of payment, such as a screenshot or a transaction ID. The seller will then confirm receipt of payment and release the Bitcoin to your wallet.
Step 8
Transfer Bitcoin.
Once the seller has released the Bitcoin, transfer it to your self-custodial wallet immediately. This will ensure that your Bitcoin is secure and under your control. This step is so important as any Bitcoin in an exchange or in a custodial wallet is not yours and can be lost if anything happens to these exchange