How To Buy Bitcoin In Botswana

In the last decade, the popularity and use of cryptocurrencies have surged like wildfire, especially since the Covid-19 outbreak. Botswanans have come to learn about cryptocurrencies, their potential, and how they may transform their economy.

For them, Bitcoin is a safe and reliable way to keep and invest their money. Despite its modest population of 2.4 billion people, Botswana is one of the most active bitcoin users. Botswanans can benefit from Bitcoin in a variety of ways. They can carry out both domestic and international transactions at a minimal cost. International transactions might take hours or even days to complete for traders and international exchange students, but they can be accomplished in minutes with bitcoin.

In contrast to the traditional banking system, which requires a lengthy process to even get a bank account, Bitcoin allows the unbanked and underbanked to easily access financial services from anywhere in the globe. Buying bitcoin in Botswana, on the other hand, hasn't been easy.

In fact, in extreme cases, Botswanans have had to travel to the neighbouring country, South Africa, to perform bitcoin transactions. They have had to depend on third parties to get their cryptocurrency. The absence of a locally based crypto exchange has made it difficult to fund their bitcoin wallet. 

The government's failure to adopt or regulate cryptocurrencies in the company has contributed to the difficulty in buying bitcoin in Botswana. The people of Botswana have been forced to compete for the few cryptocurrencies in circulation in Botswana, making bitcoin even more expensive to access. Although a Bitcoin ATM was installed in Gaborone, the nation’s capital, it has done little in alleviating the challenges of buying bitcoin in Botswana. Citizens have often been found complaining about the 15% percentage charged on purchases.

How then can you buy bitcoin in Botswana? Yellow Card, a fintech company, is driven towards “financial inclusion for all”, it has not only set a base in Botswana but is dedicated to making cryptocurrencies more accessible to them. Botswanans no longer need to drive far to obtain cryptocurrency; instead, they may do so using their mobile devices. Botswanans can even purchase cryptocurrencies in their local currency, Pula. In fact, you can buy bitcoin in Botswana from as low as P150 at no extra cost.

Read More: Why Batswana Should Embrace Bitcoin

How to buy Bitcoin in Botswana on Yellow Card

Buying bitcoin with Yellow Card has never been easier. You can buy bitcoin in Botswana with just a few taps or clicks on your internet-connected device. Here is how to get started:

1. Sign up for an account
   Creating an account with Yellow Card is absolutely free with no hidden charges. All you have to do is visit the official Yellow Card website at web.yellowcard.io on your device and sign up and fill in your details. You can also download the Yellow Card app available on iOS App Store and Google play store.
   
2. Fund your account with Botswana Pula (BWP)
   Once you've created your Yellow Card account, log in and select "deposit" from the drop-down menu on your dashboard. Select the payment option available on display, Standard bank transfer.
   - Deposit the amount you wish to add to your wallet into the bank account displayed on your screen
   - Once your deposit has been confirmed, the funds would reflect in your BWP balance. 
   - You can withdraw your funds at any time of your choosing as any amount added to the wallet belongs to you and you alone.
   
3. Buy Bitcoin
   Once your account has been funded, you can purchase bitcoin instantly. Select the "Buy Bitcoin" option in your bitcoin wallet and input the amount of bitcoin you want to buy on the buy screen.
   You can either enter the amount in bitcoin or the amount you want to buy in Pula. Just under the box, a live bitcoin exchange rate is provided. This can be used to check the Pula equivalent of the bitcoin you wish to buy. Place the buy order after you've confirmed your order. Your bitcoin will appear in your wallet immediately after the buy order has been confirmed.

Read also: How To Make Money With Bitcoin

Yellow Card provides a safe and secure platform for Botswanans to buy and sell bitcoin. Botswanans can get top-notch service while you buy bitcoin at the right time and rates from the comfort of their own homes. Bitcoin has a lot of potential for the Botswana economy, and Yellow Card can help them realise it.

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