Before you can buy bitcoin in Tanzania, you need the following.
1. A cryptocurrency exchange in Tanzania. A crypto exchange is a platform that allows its users to buy and sell cryptocurrencies. It is a cryptocurrency marketplace (or a cryptocurrency “shop”). A cryptocurrency exchange can be a local one or a global one with multi-currency support.
2. Payment method. Your payment method will depend on the cryptocurrency exchange’s supported payment method. It can be mobile money such as Airtel Money, Mpesa, debit card, credit card, bank transfer, money transfer services such as Western Union, Wise (formerly TransferWise), etc.
3. Crypto wallet. Cryptocurrencies are not physical currencies. Therefore, you need a secure cryptocurrency wallet to store your cryptos. Crypto wallets in Tanzania are of different types: mobile, web, desktop, and hardware. Best cryptocurrency wallets in Tanzania include software cryptocurrency wallets such as Samourai or a hardware wallets such as Trezor and Ledger. All these are the best bitcoin wallets for Tanzania.
Bitcoin Exchanges in Tanzania
A Bitcoin Exchange is a platform where buying and selling of bitcoin take place. There are several cryptocurrency exchanges to choose from in Tanzania. However, it is best to conduct thorough research on available exchanges to compare fees, the supported or recommended wallets, and supported payment methods. When buying bitcoin or any other cryptocurrency, there will be a price of bitcoin you are buying and a fee crypto exchanges add a for trading on their platforms.
The following are the best Bitcoin exchanges in Tanzania:
Pursa is one of the best places to buy and sell bitcoin instantly in Tanzania. You can trade bitcoin on Pursa with Ezy Pesa, Airtel Money, MasterCard, Halotel Money, Tigo Pesa, Visa, or TTCL. You do not need to register to make transactions.
Coinmama was founded in 2013 and has since served over 2 million customers across 188 countries including Tanzania. Coinmama supports several payment methods including credit and debit cards, ACH, SEPA/SWIFT, and faster payments.
BitPesa is an easy-to-use Kenyan bitcoin exchange with offices in Luxembourg, Madrid, Dakar, London, and Lagos. The supported payment methods include debit cards, mobile money such as Mpesa and Tigo Pesa, and direct deposits (TZS, KES, UGX, NGN, GHS).
Yellow Card Tanzania
Yellow Card is an ideal bitcoin exchange platform for newbies and nontech savvy crypto traders in Tanzania. It is a simple-to-use platform with low fees. The preferred payment method for you to buy bitcoin is mobile money and bank transfer. Read our full Yellow Card review.
Binance is a respectable cryptocurrency marketplace that accepts deposits in over 50 currencies including EUR, USD, KRW, GBP, RUB, JPY, AUD, etc. Binance payment methods include credit cards, debit cards, and international bank transfers.
Remitano is a Seychelles-based cryptocurrency exchange that provides an escrowed P2P crypto marketplace that supports the buying and selling of cryptocurrencies in Tanzania. The payment methods it supports include bank transfers, credit cards, and debit cards.