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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.
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.
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.
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.
Unfortunately, Malawi doesn't have a ton of exchanges available to it. Popular exchanges are available in Malawi, like Coinmama and eToro, two of the most popular exchanges in the world. Both exchanges are easy ways to buy Bitcoin, but they require identity verification before facilitating trade.
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.
If you do choose that route, make sure to follow their rules - otherwise, you run the risk of getting scammed. Unlike centralized Bitcoin exchanges, which are essentially licensed brokers, LocalBitcoins matches you with peers on the network who may not be so trustworthy.
Regardless of your exchange, it's also important to safely store your Bitcoin. Keeping your investment in an exchange wallet is a horrible idea, especially if you're buying a substantial amount of Bitcoin. The Ledger Nano X is the best way to store your Bitcoin.
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.