How To Buy Bitcoin in DRC

Like other Countries in Africa,  DRC permits the use of cryptocurrencies and seems to be amongst the fastest-growing markets for cryptocurrency in ECCAS, with an adult population of over 40 million inhabitants. Marie Makangu Kabedi Mbuyi, Governor of the Central Bank in the Democratic Republic of Congo, has been at the centre of the adoption and use of digital currencies across the world. The growth of the crypto market in DRC  has been linked to the fact that some organizations have started accepting payments in crypto, making the cryptocurrency market in DRC a beneficial venture for individuals and enterprises. The majority of the adult population here has at least heard of Bitcoin or other digital currencies. In this article, we will share some reasons why one should buy Bitcoin88IIJ in DRC as well as where such purchases can be made.  

Why buy bitcoin in DRC?

Payment of goods and services

In DRC today, there exists businesses and organizations that accept payments in bitcoin. For instance, in May 2021, Virunga National Park, one of the largest and most famous National parks in the DRC and Africa, made headlines when it announced on its Twitter page that it would be receiving donations in cryptocurrencies like bitcoin and Ethereum. Moreover, a business like Jikofood Restaurant accepts Bitcoin payments without high transaction fees or long confirmation times.

Easy digital financial transaction

With advancement in financial technologies, queing up in banks to carry out a financial transaction has become obsolete. However, most traditional banks, especially in sub saharan Africa, are not capable of going digital. Infact, among the forty countries considered eligible by the IMF to issue digital currencies, only five are African, including (Swaziland), Ghana, Madagascar, Tunisia and South Africa. So, the other 50 countries, DRC inclusive, ought to continuously rely on the traditional banking system. Fortunately, bitcoin adoption and use in DRC appears to be the game changer for digital financial transactions. 

Reducing Inequalities

The gap which has always existed between the banked, underbanked and unbanked populations is bridged by bitcoin usage. A GIZ report on promoting financial inclusion in DRC states that 74 per cent of about 40 million adults in DRC  are still excluded from the formal financial system and thus restricted in the development and expansion of their economic activities - due to lack of bank accounts. Using bitcoin allows everyone to own an account which permits them to send and receive money at any time. 

It is evident that the world has become a global village with bitcoin at the central stage to serve all citizens in due time. The opportunity to buy bitcoin in DRC at minimal prices and rates is now a dream come through.

 Before you buy bitcoin, it is important to know that you need a bitcoin wallet and a trustworthy exchange platform whose services are legit. So, watch out!

A Bitcoin wallet

  A Bitcoin wallet is a digital wallet. It is a software program that stores your bitcoin. In other words, it stores keys (private and public) related to your wallet. A public key is like a PIN code (only accessible to the owner of the wallet). While a Public key is like a Bank Account (Shareable for purposes of transactions). Since Bitcoin wallets are digital,  they can be accessed at any time and anywhere either on mobile (mobile wallets) or on a web ( Web wallet).

Choosing an Exchange Platform in DRC

There are many cryptocurrency exchange platforms in DRC. As such, choosing the right crypto platform to carry out your transaction with is as important as the transaction itself. For instance, you want to be able to purchase bitcoin with the Congolese Franc (CDF) at the best rates. For that, Yellow Card has made this possible while also offering security and the best customer service.

How to buy bitcoin in DRC on Yellow Card

To buy bitcoin on Yellow Card, follow these simple steps:

1.     Sign up on your account.

You can sign up for a Yellow Card account on the web or by downloading the mobile app. With this, you get a free bitcoin wallet.

2.     Fund your account with CDF

After you have signed up, choose a preferred payment method to fund your account with CDF. 

3.     Buy Bitcoin

Once your account is funded, open your dashboard then select “Buy Bitcoin” and enter the amount you want to buy. Confirm your order and buy. Once this is done, your bitcoin will reflect instantly in your wallet.

How to sell bitcoin and withdraw CDF in DRC

This is as easy as buying. Follow the steps below

1. You can sign up for a Yellow Card account on the web or by downloading the mobile app. 
2. From your dashboard, select “Sell Bitcoin” and enter the amount you want to sell. 
3. Click Review & Confirm  
4. Confirm by clicking Sell 
5. You have successfully sold your Bitcoin to Yellow Card 

At this point, Yellow Card will pay the equivalence in cash proportionate to the bitcoin sold.

Conclusion

You can use your bitcoin for daily transactions with enterprises that accept payment in bitcoin either in DRC or abroad. Better still,  store the bitcoin in your wallet for future exchanges or transactions. Whatever you choose, always remember Yellow Card is driven by its mission to bring financial inclusion for everyone in DRC.

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