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2021-08-25

Favour Jolaoso

Favour

The Zambian cryptocurrency market is fast-growing, with several individuals, businesses, and firms leaning more towards the use of cryptocurrencies like bitcoin, ethereum, tether. People are increasingly recognising cryptocurrencies as a better alternative to the traditional fiat currency, Zambian Kwacha. 

With cryptocurrencies, you can enjoy faster processing of transactions and cheaper transaction fees, even for cross-border payments that generally take hours or even days. Cryptocurrencies can be used as a hedge to inflation, a financial asset that could generate a significant profit, and one of the most secure means to store your wealth.

With this in mind, it comes as no surprise that many Zambians are leaning towards cryptocurrency use. Bitcoin, the first-ever cryptocurrency, is the most used and sought cryptocurrency in Zambia, with its use frequently topping the charts. 

Getting started with bitcoin might seem like a rather challenging task, but it is pretty simple. Cryptocurrency exchange platforms like Yellow Card make it easier and faster to buy bitcoin in Zambia with just a few taps. 

Getting Started With Bitcoin

There are certain things you need to put in place to get you started with bitcoin:

  1. A Bitcoin Wallet 
    Bitcoin is a digital currency and, as such, cannot be handled physically. This is why you need a bitcoin wallet to hold your wallet securely. There are different types of bitcoin wallets, including desktop wallets, web wallets, paper wallets, and mobile wallets. Web wallets are the most popular and easiest wallets in use.
    You can access your wallet from anywhere on the globe be it from your mobile phone or computer. Yellow Card operates both a web wallet and a mobile wallet that are absolutely free to open and operate. All you have to do is register with your personal information, set a password, and start trading instantly. 
  2. A Cryptocurrency Exchange Platform
    There are several cryptocurrency exchange platforms in Zambia. However, when selecting a  cryptocurrency exchange, you need to ensure it is secure, fast, reliable, and, most importantly, allows you to transact in your local currency. This way, you can easily purchase cryptocurrencies with the Zambian Kwacha. 
    However, not all cryptocurrency exchanges allow you to trade in your local currencies. Some may require that you convert to either dollars and pounds to get started. This ultimately slows down the process and makes bitcoin more challenging to access. Fortunately, Yellow Card, with a mission of “financial inclusion for all,” allows you to buy crypto with Zambian Kwacha at the best rate.

How to Buy Bitcoin in Zambia with ZMW

Setting up an account with Yellow Card has never been easier. You can be assured of top-notch service and security with Yellow Card. By following these steps, you can get started with trading bitcoin.

  1. Sign up for an account
    Visit the Yellow Card website at web.yellowcard.io on any of your devices connected to a secure network and sign up with your details. You can also download the Yellow Card mobile app available on the Google Play Store and iOS app store.
  2. Fund your wallet with  Kwacha (ZMK)
    Once you have set up your Yellow Card account, log in and click on the “deposit” option displayed on your dashboard. Select your desired payment option, either MOMO or Standard bank transfer. 

    With momo
    - Select the mobile money option
    - Input the kwacha equivalent of bitcoin you wish to buy
    - Enter your mobile number and select your service provider (MTN or Airtel)
    - Confirm the deposit information and authorise the transaction on your device
    - Your account would be instantly credited with the deposit amount

    With Standard Bank transfer
    - Deposit the amount you wish to add to your waller into the bank account displayed on your screen
    - Once your deposit has been confirmed, the funds would reflect in your ZMK 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
    With the amount deposited in your account, you can purchase bitcoin instantly. Go to your bitcoin wallet and select the “Buy Bitcoin” option. On the buy screen, input the amount of bitcoin you wish to purchase. You can choose to enter the amount in the specific amount of bitcoin or input the amount you wish to buy in Zambian Kwacha. 
    A live exchange rate of bitcoin is displayed directly under the box. You can use this to confirm the Zambian kwacha equivalent of the price you wish to purchase. Confirm your order and place the buy order. Once this is done, your bitcoin would reflect immediately in your wallet. 

You can use bitcoin to complete your daily transactions or send them to family and friends who also use Yellow Card at no extra cost. All you have to do is enter their Yellow Card account mobile number or email address. You may also decide to hold your bitcoin in your secure Yellow Card wallet. 

Yellow Card is driven to bring financial inclusion to the grassroots, making it easier for Zambians to access bitcoin. With Yellow Card, you can easily buy bitcoin with the help of the best customer service agents available to guide you through the process.