Buy Crypto & Bitcoin in Barbados

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  • Popular Exchanges to Buy Crypto & Bitcoin in Barbados
  • Coinmama exchange logo
    Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker
    BUY NOW at Coinmama's Secure Site

Buy Now at Coinmama's Secure Site

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.

Pros
  • Works in almost all countries
  • Highest limits for buying bitcoins with a credit card
  • Reliable and trusted broker
Cons
  • Some of the highest fees among credit/debit card bitcoin brokers
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Ease of Use
Easy
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Privacy
Low
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Speed
Fast
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Fees
Average
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Reputation
Trusted
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Limits
High
Buy Now Read Review

Buy Now at Kraken's Secure Site

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. Users can buy bitcoin, ethereum, dogecoin and dozens of other coins.

Pros
  • Very low 0.25% taker fee, falling to 0.1% with sufficient trading volume
  • Very low maker fee, falling to 0% with sufficient trading volume
  • Highly-rated for security and data protection
Cons
  • Requires ID verification, so not private
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Ease of Use
Hard
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High
Buy Now

Buy Now at LocalBitcoins's Secure Site

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.

Pros
  • Can be private, fast and easy
  • In-person trades require no personal information
  • Purchases of bitcoin can be made quickly via cash deposit
Cons
  • Beware of scams; always follow the rules!
  • Harder to buy large amounts of bitcoins compared to large exchanges
  • Slightly to significantly higher prices than regular exchanges; premium for higher privacy
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Ease of Use
Hard
privacy icon
Privacy
High
speed icon
Speed
Fast
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
Average
Buy Now Read Review

BittBitt
Buy Now at Bitt's Secure Site

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.

Pros
  • Trusted exchange backed by US investors
  • 1% fees are low for the markets that Bitt serves
  • USD, EUR, and GBP trading fees are very low at 0.2%
Cons
  • Not a private way to buy bitcoin as ID verification is required
  • Low liquidity for certain currency pairs means wide spreads; harder to get bitcoin at a fair market rate
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Ease of Use
Average
privacy icon
Privacy
Low
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Speed
Average
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High
Buy Now

Buy Now at Bitcoin ATMs's Secure Site

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%.

Pros
  • Our map makes it super easy to find a Bitcoin ATM near you
Cons
  • Bitcoin ATMs often have 5-10% fees per purchase
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How to Buy Bitcoin in Barbados

The purchase of Bitcoin is legal in Barbados, and its citizens are free to buy and sell Bitcoin as they please.

The easiest way to buy and sell Bitcoin in Barbados is using one of the many exchanges available to the island nation, including Coinmama, one of the biggest Bitcoin exchanges in the world.

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.


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Bitcoin & Cryptocurrency Trading in Barbados


Barbados is a small island nation in the Carribean isles, boasting beautiful white sand beaches but also tons of outstanding debt. In 2020 the total national debt was 6.6 billion US Dollars.

It got so bad, in fact, that in May of 2018, the debt reached a whopping 1.7 times annual national GDP and the government defaulted.

It's a good thing Bitcoin is legal in Barbados, because it has offered a way for citizens to opt out of a financially irresponsible government.


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Bridgetown - the capital of Barbados

One of the easiest ways to buy Bitcoin in Barbados is through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Barbados, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet. If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.


COMPARISON

ledger nano x folded

Ledger Nano X

  • SCREEN:
  • RELEASED: 2019
  • PRICE: $145
ledger nano s illustration

Ledger Nano S

  • SCREEN:
  • RELEASED: 2016
  • PRICE: $72
trezor model T

TREZOR T

  • SCREEN:
  • RELEASED: 2018
  • PRICE: $189
Trezor One

TREZOR One

  • SCREEN:
  • RELEASED: 2013
  • PRICE: $79

Another way to buy Bitcoins in Barbados is through automated teller machines (ATMs). These ATMs allow users to instantly purchase the cryptocurrency using cash, and most of them only require a telephone number for verification, so long as you aren’t buying a lot of Bitcoin. You can locate Bitcoin ATMs in Barbados using our Bitcoin ATM Map.


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Top Bitcoin & Cryptocurrency Exchanges in Barbados


Barbados has access to many large Bitcoin and cryptocurrency exchanges.

Have a look at our favorites below:

  • Popular Exchanges to Buy Crypto & Bitcoin in Barbados
  • Coinmama exchange logo
    Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker

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Best Bitcoin Wallets for Barbados



There are three main types of Bitcoin wallet and all of them are supported in Barbados:

  • Software (desktop or mobile - iOS and Android wallets
  • Hardware wallet
  • Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

Best for Security

ledger nano x

Ledger Nano X

Secure storage for any cryptocurrency

More About
Ledger Nano X

The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.

Temporary Wallet

zengo wallet logo

Zengo

Best for storing crypto for short period of time

More About
Zengo

ZenGo is an easy-to-use iOS and Android Bitcoin & crypto wallet. Start within 20 seconds.

Best for Desktop

electrum logo

Electrum

Simple yet powerful desktop wallet

More About
Electrum

Electrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.


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Ethereum How to Buy Ethereum in Barbados


Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in Barbados that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.


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Dogecoin How to Buy Dogecoin in Barbados


Thanks to Tesla founder Elon Musk, Dogecoin (DOGE)—a coin that started as a meme about the shiba inu dog—has recently become a popular digital currency. Below you can find crypto exchanges in Canada that allow you purchase Dogecoin.

  • Exchanges in Barbados that Support Dogecoin
  • Kraken
    • Supports Dogecoin buying & selling
    • Coins supported:
    • Dogecoin btc eth ltc
    BUY Dogecoin NOW at Kraken's Secure Site

About Dogecoin: Dogecoin has become one of the most famous altcoin blockchains. Dogecoin was founded by Jackson Palmer and Billy Markus on December 6, 2013. Thanks to its popularity on Robinhood, it hit an all time high of $0.42 on April 20. Doge started the year at under $0.01 USD. It is an open source blockchain, meaning its code is publicly available for anyone to see.


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Litecoin How to Buy Litecoin in Barbados


Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in Barbados that allow you to buy litecoin and other crypto assets for good exchange rates.


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Exchange Hacks and Crypto Scams in Barbados


In January of 2019, The Barbados Finanical Services Commission put out a media realease stating that there had been false news reports claiming that the Barbados’ Ministry of Finance had invested $500 million in the acquisition of a bitcoin startup trading platform called "The Bitcoin Wealth.” The agency stated that this was a scam and for the public to be on guard against invitiations to invest. FSC’s CEO, Kester Guy stated, “We are aware that these type of scams will continue to surface from time to time and that with crypto currency still being a novel concept to many people, there is a lot of room for misinformation, misunderstanding and misguidance. As a regulator, we want to protect the public from that, as far as we are able to.”

Since January of 2021, we could find no exchange hacks or significant scams affecting Barbados or its citizens. We will update this page if/when any news of scams or exchange hacks occur in Barbados.


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Bitcoin Mining in Barbados


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.


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FAQ


Does Coinbase work in Barbados?

Citizens of Barbados can use Coinbase to convert cryptocurrencies with other cryptocurrencies.

Where Can I Find a Bitcoin ATM in Barbados?

Barbados offers only 1 Bitcoin ATM, located in the Bitt office in Bridgetown on Hastings Plaza.

You can use our Bitcoin ATM finder tool to find one near you.

What is the price of Bitcoin in Barbados?

Bitcoin prices are changing every second.

The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.

How do I cash out of Bitcoin in Barbados?

Any exchange with a Barbados Dollar trading pair will allow you to sell your Bitcoin for fiat currency. Caribbean-based exchange Bitt has BBD trading pairs for many popular coins.

Another way to sell Bitcoins in Barbados is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private. You can locate Bitcoin ATMs in Barbados using our Bitcoin ATM Map.

LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

You could also use a service like eGifter to sell your Bitcoin for gift cards.

About the Author: Jordan Tuwiner

author

Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets. His articles are read by millions of people each year looking for the best way to buy Bitcoin and crypto in their country.

He has also written extensively about the history, technology, and business of the crypto world. Jordan is also the creator of some of the internet's most famous Bitcoin pages, including The Quotable Satoshi and Bitcoin Obituaries.

To learn more about Jordan, see his full bio.