Buy Crypto & Bitcoin in Malawi

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  • Popular Exchanges to Buy Crypto & Bitcoin in Malawi
  • 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
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Buy Now at Paybis's Secure Site

Paybis is a popular cryptocurrency exchange. They serve 180 countries and 48 US states and are registered with FinCEN, making them a more trusted, regulated exchange. Paybis offers incredibly high limits and super fast payouts, not to mention 5 minute ID verification and nearly perfect review scores on Trustpilot.

Pros
  • 24/7 live support
  • Extremily high limits
  • 5 Minute verification
  • Get payouts fast
  • Large selection of payment methods
Cons
  • No traditional orderbook for advanced traders
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Ease of Use
Easy
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Privacy
Low
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Speed
Average
fees icon
Fees
Low
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Reputation
Trusted
limits icon
Limits
High
Buy Now

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
ease icon
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

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 Malawi

Unfortunately, Malawi doesn't have a ton of exchanges available to it. Popular exchanges are available in Malawi, like Coinmama, one of the most popular exchanges in the world. Most exchanges are easy ways to buy Bitcoin, but they require identity verification before facilitating trade.

In March 2021, the Reserve Bank of Malawi (RBM) general council and bank secretary George Chioza, said they are consulting with stakeholders regarding the use of cryptocurrency in the country and will soon make a decision. Chioza was also quoted by the local Times newspaper saying, “At the moment, Malawi is really on the borderline. We have not said yes or no but we know there is cryptocurrency. Take caution when you are dealing in these currencies.”

LocalBitcoins is a better option if privacy is a concern for you - the platform matches buyers and sellers on the Bitcoin network, allowing them to trade safely without needing to verify their identities. You may trade with someone in Malawi, or on the other side of the globe.


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Bitcoin & Cryptocurrency Trading in Malawi


Malawi is located in the center of the African continent. Most of Malawi's citizens live in rural regions, which is why the economy is largely agrerian. The main challenges facing the Malawi government are environmental problems, poor education, and healthcare. And to make matters worse, the economy is largely dependent on economic assistance from the IMF and the World Bank.

This is why many in Malawi are trying to flee their domestic currency, the Kwacha, in favor of difigtal assets like Bitcoin.

Malawi does not consider Bitcoin legal tender, nor do they approve of its use in place of fiat currency. However, Malawi has not restricted cryptocurrency in the country. Citizens of Malawi are allowed to buy and sell Bitcoin as they please, provided they're not using it to break any laws.


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Lilongwe - the capital of Malawi

One of the easiest ways to buy Bitcoin in Malawi is through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Malawi, allowing you to 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 that certain exchanges might require you to get a wallet of your own before being able to buy the digital currency. Even if there is no requirement, 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

LocalBitcoins is another option for Malawians who want to pay with cash. LocalBitcoins matches buyers and sellers on its website, both in Haiti and around the world, facilitating peer-to-peer Bitcoin payments.


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Top Bitcoin & Cryptocurrency Exchanges in Malawi


Malawi has access to many large Bitcoin and cryptocurrency exchanges.

Have a look at our favorites below:

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



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

  • 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 Malawi


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 Malawi 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 Malawi


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 Malawi 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 Malawi


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


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Exchange Hacks and Crypto Scams in Malawi


Crypto scam in Malawi

In 2019, it was dicovered that many Malawian citizens were scammed by Coin Chambers. The scammers advertised themselves through Facebook and a website (which are now shuttered), where they encouraged people to invest their money in exchange for tiered guaranteed returns.

But like all schemes that advertise guaranteed returns, the project ended up being a ponzi scheme and all the money was eventually stolen.


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The police eventually arrested two of three scammers and charged them with conspiring to commit fraud, defrauding investors, and money laundering.


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Bitcoin Mining in Malawi


Most people buy their Bitcoin directly from an exchange, rather than investing in expensive mining hardware and paying an arm and a leg for electricity.

Electricity is one of the leading factors used to determine mining profitability. If the value of your mined Bitcoin is greater than electricity costs, you're profitable. There are a few other factors at play here like the hash rate and power consumption of your hardware, but we're not going to go into detail about that now.

Here's what you need to know if you want to mine in Malawi:

Mining is only profitable in countries with dirt-cheap electricity, and unfortunately, Malawi doesn't fit the bill. Most mining operations make use of electricity costs at or below $0.05 per kWh, and Malawi's electricity costs well exceed that number.

Even with the best Bitcoin mining hardware, you'd be hard-pressed to turn a profit. You'd most likely lose a few thousand dollars each year (per miner) minimum, on top of your initial investment.

Bitcoin mining isn't what it used to do. Buying Bitcoin directly from an exchange is the fastest and easiest way to acquire Bitcoin. It's the best option for most people.


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FAQ


Does Coinbase work in Malawi?

Coinbase does NOT support customers in Malawi as of September of 2020.

Where Can I Find a Bitcoin ATM in Malawi?

At this time, there are no Bitcoin ATMs in Malawi.

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 Malawi?

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 Malawi?

Any exchange with a Malawian Kwacha trading pair will allow you to sell your Bitcoin for fiat currency. Coinmama has MWK trading pairs for many popular coins.

As of January of 2021, there are unfortunately no Bitcoin ATMs in Malawi.

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.