How to buy bitcoin in Gabon

Within the Central African states, the use of digital currency systems is on the rise. Despite this upward trend, the regulatory framework to support these transactions is not yet fully developed. 

With respect to cryptocurrency, the Bank of Central African States (BEAC) has not articulated a specific policy. As a member state of BEAC, Gabon’s market is open to bitcoin transactions. 

This article will focus on how to buy bitcoin in Gabon. As such, it will consist of where you can buy and sell bitcoin in Gabon.

Is bitcoin useful in Gabon?

Transactions in bitcoin offer several benefits. Low transaction fees and faster processes are among the most cited advantages of using bitcoin. 

Moreover, Bitcoin transactions are especially useful for cross-border transactions and can be conducted by both unbanked, underbanked, and banked populations of Gabon. 

The popularity of bitcoin resides in the fact that it has been able to bridge the gap between people from different social classes, involving them in the financial system. As a result, everyone can have access to and control of their money. 

Where to buy bitcoin in Gabon

Before you buy bitcoin, it is important to know that you need a bitcoin wallet in which you can store the coins and make future transactions.  

Yellow Card offers its customers a bitcoin wallet free of charge as soon as they sign up and create their accounts.

A Bitcoin wallet

A bitcoin wallet is a digital wallet. Simply put, 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 Gabon

There are many cryptocurrency exchange platforms in Gabon. However, Yellow Card offers a reliable, fast, and secure platform on which you can buy and sell bitcoin at amazing prices using the Central African Franc (FCFA). 

Besides, through its education platform, Yellow Card Academy, you have access to a wide range of educational articles on financial literacy and everything you need to know about cryptocurrencies. 

How to buy bitcoin in Gabon 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 FCFA

After you have signed up, choose UBA to fund your account with FCFA

3.     Buy Bitcoin from Yellow Card

Once your account is funded, open your dashboard and follow the guide below;

•  Select “Buy Bitcoin” 
• 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 FCFA in Gabon

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” 
• Enter the amount you want to sell. 
• Click Review & Confirm  
• Confirm by clicking Sell 
• You have successfully sold your Bitcoin to Yellow Card 

At this point, Yellow Card will pay you the equivalence in cash of the bitcoin sold.

Conclusion

Globalisation has reduced the world to a small village. Businesses operating in Gabon can get supplies from partners in different countries. 

Such a practice, though not new, has been facilitated with the use of bitcoin. Purchases abroad are not opened only to businessmen. 

With a bitcoin wallet, anyone can purchase goods from any company that accepts payment in bitcoin. 

Get started with bitcoin