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You'll need a Bitcoin wallet before you buy since some exchanges require one.
Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.
Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.
Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.
Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.
Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries. Deposits can be made via bank wire, SEPA, ACH and SWIFT.
LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer.
Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States, Europe (besides Germany), UK, Singapore, Canada, Australia and many more.
Bitt is a Bitcoin exchange based in the Caribbean. It has received over $10 million in venture capital funding. You can trade many currencies on the Bitt platform, including BBD, TTD, JMD, USD, EUR, and GBP.
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
Bitcoin is legal in Barbados, and its citizens are free to buy and sell Bitcoin as they please.
If you'd prefer to buy Bitcoin without revealing your identity to a mainstream exchange, LocalBitcoins is another excellent option.
LocalBitcoins matches buyers and sellers, facilitating private Bitcoin transactions without having to reveal your identity. Barbados also has a Bitcoin ATM on the island, which is by and large one of the most private ways to buy Bitcoin.
Bitcoin miners consume electrical energy to power their mining hardware, which verifies transactions on the network. As a reward for their energy (literally), they are awarded Bitcoins as a block reward.
Unfortunately, Bitcoin's block difficulty is one the rise, meaning it's continuously getting harder to mine Bitcoin as time goes on, not to mention the block reward halving every so often.
Mining isn't what it used to be - it's nearly impossible to turn a profit these days, especially if you're not mining on a large scale, with the newest mining hardware and dirt cheap electricity.
For most, buying it directly from an exchange is the best option, especially in Barbados. The Caribbean relies primarily on imported oil for their electricity, driving prices sky-high.
The only island not suffering from ungodly electricity prices is Trinidad and Tobago, because they have an abundant supply of natural gas on the island.
Barbados doesn't have the same luxury -their average electricity price is approximately $0.28 per kWh. Barbados' electricity is somewhat high on the global scale but astronomically high for Bitcoin mining especially.
According to our mining profitability calculator, you'd lose nearly $6,000 per year, per miner, not to mention the grotesque startup costs.
Instead, do yourself a favor and buy Bitcoin from one of the exchanges above.