Angola's Bitcoin Buying Guide: A Step-By-Step Process

There are several ways to buy bitcoin in Angola, including via online cryptocurrency exchanges such as Binance, Kraken, and OKX, as well as through platforms like Paxful, Pursa, and LocalBitcoins. These platforms offer various payment methods, including credit/debit cards, bank transfers, and cash. It is important to note that while there is no legislation against it, government officials in Angola have advised against the use of bitcoin.

Popular Bitcoin exchanges in Angola

There are several popular exchanges in Angola that allow users to buy Bitcoin. Here are some of the most well-known and trusted platforms:

• Binance is the most popular Bitcoin exchange in Angola, with over 200 million users. It offers a wide range of cryptocurrencies, low trading fees, and multiple deposit methods. Binance also provides a safe and secure platform with two-factor authentication and multi-signature wallet options.
• Kraken is one of the big three cryptocurrency exchanges in the global market, alongside Coinbase and Binance. It offers buying and selling of Bitcoin with three forms of payment and is considered one of the safest Bitcoin exchanges.
• OKX is a leading cryptocurrency exchange known for its vast selection of cryptocurrencies, user-friendly interface, low fees, and deep liquidity. It is an ideal choice for both novice and experienced traders.
• EToro is recommended as the best crypto exchange in Angola by some sources, offering low fees, top-tier security, and a large range of crypto coins. It also has a user-friendly interface and competitive, industry-leading commissions.
• CEX.IO is a multifunctional cryptocurrency exchange trusted by millions of customers worldwide. It offers multiple payment options, 24/7 customer support, and a simple user interface. However, it has been noted to have a lengthy verification time.
• Coinbase is a well-known U.S. cryptocurrency exchange with a world-class, user-friendly interface and a mobile app available for Android and iOS. It is trusted by millions of customers worldwide.
• Pursa is a secure platform that makes it easy to buy, sell, and convert Bitcoin and other cryptocurrencies. It offers a range of payment methods and fast, easy, and secure transactions.
• Paxful is a peer-to-peer Bitcoin marketplace that allows users to buy, sell, and hold Bitcoin with over 450 payment methods. It has partnered with Chainalysis and Group-IB to ensure the safety of transactions.

These exchanges provide Angolans with a variety of options to buy and sell Bitcoin, each with its own unique features, fees, and payment methods. It is important to research and choose an exchange that suits your specific needs and preferences.

How to buy Bitcoin anonymously in Angola

Using Pursa

Pursa is a platform that allows you to buy and sell Bitcoin anonymously in Angola. It is a decentralised system that does not require registration or ID verification. You can buy Bitcoin with your mobile payment account or sell Bitcoin from your blockchain wallet. Pursa supports transactions from your Bitcoin wallet to VISA without the need for ID verification. Pursa also allows you to exchange Bitcoin for Airtime Mobile Top Up, Bank Transfer, Cash Deposit to Bank, EUR Bank Transfer, MasterCard, Moneybookers, MoneyGram, PayPal, Perfect Money, Revolut, Skrill, TransferWise, US Bank Transfer, VISA, Western Union, or Wise.

Using Paxful

Paxful is a peer-to-peer Bitcoin marketplace that allows you to buy and sell Bitcoin in Angola. You can create an account, get a free Bitcoin wallet, and buy your first Bitcoin on Paxful. Paxful supports a range of payment methods, including credit/debit cards, WebMoney, Payoneer, and PayPal.

Using LocalBitcoins

LocalBitcoins is a platform that allows you to buy and sell Bitcoin with local currency. It is a good option if you are looking to buy Bitcoin with Kwanza (AKZ).

Using Uphold

If you have a bank account, you can use Uphold to buy Bitcoin. However, you cannot use a credit card with this platform.

Payment methods for buying Bitcoin in Angola

There are several payment methods for buying Bitcoin in Angola. The most popular exchanges in Angola, Binance and Kraken, accept Credit Card, Debit Card, Bank Transfer (SEPA), and SWIFT. Binance also accepts wire transfers.

Pursa, another exchange, accepts Airtime Mobile Top Up, Bank Transfer, Cash Deposit to Bank, EUR Bank Transfer, MasterCard, Moneybookers, MoneyGram, PayPal, Perfect Money, Revolut, Skrill, TransferWise, US Bank Transfer, VISA, Western Union, and Wise.

Paxful, a Peer-to-Peer Bitcoin marketplace, accepts credit/debit cards, WebMoney, Payoneer, PayPal, and FNB E-WALLET.

LocalBitcoins allows users to buy and sell Bitcoins in Angola with cash and online.

Finally, Coinbase, a platform available in over 100 countries, is now also available in Angola.

Bitcoin wallets for Angola

Once you've bought Bitcoin, it's important to withdraw it from the exchange to your own secure personal wallet. Leaving your coins on an exchange poses a security risk as many exchanges are targeted by hackers. Storing your own coins on your personal hardware wallet mitigates that risk.

There are several Bitcoin wallet options for people in Angola:

• Zengo is an easy iOS & Android crypto and NFT wallet. You can buy, sell, and self-custody directly from the app.
• Ledger Nano S Plus is a secure hardware wallet that connects to your computer via USB-C.
• BlueWallet is a popular desktop Bitcoin wallet which is compatible with Windows, Mac, and Linux.
• Changelly allows you to exchange one cryptocurrency for another and also buy using a bank card. It has a convenient and clean user interface and quick registration via email or social media account.
• Paxful offers a free Bitcoin wallet when you create an account.

Is Bitcoin legal in Angola?

Bitcoin is not illegal in Angola, but the government advises against its use due to financial insecurity. In 2020, the Governor of the Angolan Central Bank, José de Lima Massano, indicated that the Central Bank would assess the risks of embracing cryptocurrency. This announcement followed an October 2019 Request for Information by the National Bank about Blockchain solutions to the Angolan financial system.

As of 2024, there are four trusted online cryptocurrency exchanges operating in Angola: Binance, Kraken, OKX, and Bitrawr. Binance is the most popular Bitcoin exchange in Angola, with 200,000,000 users. It offers a large number of cryptocurrencies, a professional attitude, a friendly and transparent CEO, and low trading fees. Kraken is also a popular choice, with millions of active users and strategic investors on board. It provides cryptocurrency-to-fiat trading and price information to Bloomberg Terminal. OKX is known for its vast selection of cryptocurrencies, user-friendly interface, low fees, and deep liquidity.

To buy Bitcoin in Angola, you must first register with an exchange and complete a Know Your Customer (KYC) process. This will require a photo ID, such as a passport, national identity card, or driver's license. You will also need a private and secure internet connection and a mobile phone to verify your identity using two-factor authentication (2FA). Once you have completed the KYC process, you can link a bank account or credit card to the exchange and make a fiat deposit. Then you are ready to buy your first Bitcoin. It is important to note that you do not need to buy a full Bitcoin, as most exchanges allow you to buy just a few dollars' worth. After purchasing, it is recommended to withdraw your Bitcoin to your own secure personal wallet to mitigate the risk of leaving them on an exchange, which could be targeted by hackers.

Frequently asked questions