Buy Crypto & Bitcoin in Jamaica

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  • Popular Exchanges to Buy Crypto & Bitcoin in Jamaica
  • 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
fees icon
Fees
Average
reputation icon
Reputation
Trusted
limits icon
Limits
High
Buy Now Read Review

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
ease icon
Ease of Use
Average
privacy icon
Privacy
Low
speed icon
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
Buy Now

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Bitcoin & Cryptocurrency Trading in Jamaica


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.


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A view of Kingston - Jamaica's largest city

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.


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

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.


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Top Bitcoin & Cryptocurrency Exchanges in Jamaica


Jamaica has access to many large Bitcoin and cryptocurrency exchanges.

Have a look at our favorites below:

  • Popular Exchanges to Buy Crypto & Bitcoin in Jamaica
  • 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 Jamaica



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

  • 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 Jamaica


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 Jamaica that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.


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Litecoin How to Buy Litecoin in Jamaica


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


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Exchange Hacks and Crypto Scams in Jamaica


As of October of 2020, we could find no exchange hacks or significant scams affecting Jamaica or its citizens. We will update this page if/when any news of scams or exchange hacks occur in Jamaica.


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Bitcoin Mining in Jamaica


If you want to mine Bitcoin in Jamaica, think again.

Here's why:

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.


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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.


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FAQ


Does Coinbase work in Jamaica?

Coinbase ONLY allows crypto-to-crypto conversions for Jamaican residents as of October of 2020.


Where Can I Find a Bitcoin ATM in Jamaica?

Unfortunately, there are no Bitcoin ATM's in Jamaica at this time.

You can use our Bitcoin ATM finder tool to check back in occasionally and see if one has opened.

What is the price of Bitcoin in Jamaica?

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 Send Bitcoin to Jamaica?

Sending Bitcoin to someone in Jamaica is the same as it is for anyone outside of Jamaica.

Both you and the person you want to send Bitcoin to should get a wallet.

Once the recipient has a wallet, they will give you a sending address.

You will create a Bitcoin transaction in your wallet (which you already have some Bitcoin in), and you will input their address as your destination.

Can I get a Bitcoin debit card in Jamaica?

You can get Bitcoin debit cards in Jamaica by using Pursa.co, which makes it simple to get all sorts of debit cards in many variations of fiat and Bitcoin.


pursa homepage

How much does it cost to mine a Bitcoin in Jamaica?

If you were using a top of the line Antminer S19, mining at 95TH/s and pulling 3,250 watts, it would cost you approximately $87,000 to mine a whole Bitcoin.

That's because the cost per Kw/h is $0.39.


jamaica mining profitability

You would mine about 0.1257 BTC a year and you'd pay $10,951 to do it. If we divide 1 Bitcoin by .1257, we get 7.955 years to mine a whole Bitcoin. If we multiply that number by $10,951 cost per year to run the miner, we get $87,115 for a single Bitcoin.

This does not include the cost of buying the Antminer S19, which is currently ~$4,500.

Obviously, this is insanely unprofitable, which is why no one is mining Bitcoins in Jamaica.

How do I cash out of Bitcoin in Jamaica?

Any exchange with a Jamaican Dollar trading pair will allow you to sell your Bitcoin for fiat currency. Bitt has JMD trading pairs for many popular coins.

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.