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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.
We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
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.
eToro is a trading platform and crypto exchange. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins.
Deposits can be made quickly via bank transfer, SEPA, NETELLER, PayPal and more. It also offers unique features like copy trading.
Your capital is at risk. We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
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.
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.
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%.
Mycelium Local Trader helps you find local Bitcoin sellers. Once you locate a seller, you meet up in-person and conduct the trade. Mycelium charges absolutely no fees. While Mycelium Local Trader works great in highly-populated areas, users in low population areas will have trouble finding sellers.
Despite the Jamaican government warning its people about investing in Bitcoin due to its volatility, Bitcoin is legal in Jamaica to buy and sell, provided you're not using it for an illicit purpose.
Unfortunately, there aren't any Bitcoin ATMs in Jamaica, which is by and large the most private way to buy Bitcoin. Most popular exchanges like Coinmama and eToro require users to verify identity prior to facilitating trade.
This requirement isn't an issue for most, but if privacy is a concern for you, LocalBitcoins is your best bet.
LocalBitcoins is a platform that matches buyers and sellers on the Bitcoin network, facilitating private peer to peer transactions without needing a centralized exchange or identity verification. Just make sure you follow their rules and use the platform responsibly, so you don't get scammed.
Speaking of which, Jamaica isn't without its share of criminal activity (like all other nations). Storing your Bitcoin on a cold storage hardware wallet like the Ledger Nano X is the best way to protect your investment.
Leaving it on an exchange is asking for trouble, as they're subject to hackers and theft. You should store your Bitcoin on a hardware wallet, especially if you're investing a large amount.
With your wallet situation squared away and your exchange of choice in mind, buying Bitcoin in Jamaica is easy. Connect your payment method and trade away.
If you want to mine Bitcoin in Jamaica, think again.
Bitcoin mining has come a long way since its golden age when anyone could turn a profit. Nowadays, profitable Bitcoin mining requires top-notch hardware, lots of time, and even more electricity.
Hardware is expensive enough, not to mention electricity cost, which in Jamaica is an arm and a leg. Jokes aside, Jamaican citizens pay a lot for their electricity. The average electricity price in Jamaica is approximately $0.39 per kWh, which is absurdly high.
Caribbean nations - Jamaica included - import most of their oil (nearly all of it), which means they pay top dollar for electricity.
Keeping electricity costs as low as possible is crucial for mining profitability, as electricity is your main overhead, eating away at your profits. $0.39 is nearly eight times higher than the cost of electricity where most mining operations reside.
According to our mining calculator, you'd lose around $10,000 per year, per miner, on top of the startup cost.
If you want to acquire Bitcoin, buying it directly from an exchange is your best bet.