Buy Bitcoin in Montenegro

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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.

  • Popular Exchanges to Buy Bitcoin in Montenegro
  • Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • 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.

CoinmamaCoinmama Buy Bitcoin Read Review

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.

We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.

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
Ease of Use
Easy
Privacy
Low
Speed
Fast
Fees
Average
Reputation
Trusted
Limits
High
Buy Bitcoin Read Review

LocalBitcoinsLocalBitcoins Buy Bitcoin Read Review

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.

We may receive compensation when you use LocalBitcoins. Please visit LocalBitcoins for its exact pricing terms.

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 of Use
Hard
Privacy
High
Speed
Fast
Fees
Low
Reputation
Trusted
Limits
Average
Buy Bitcoin Read Review

KrakenKraken Buy Bitcoin Read Review

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.

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
Ease of Use
Hard
Privacy
Low
Speed
Average
Fees
Low
Reputation
Trusted
Limits
High
Buy Bitcoin Read Review

Bitcoin ATMsBitcoin ATMs Buy Bitcoin

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 Bitcoin

Mycelium Local TraderMycelium Local Trader Buy Bitcoin

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.

Pros
  • Easy and cheap way to buy bitcoins with cash
  • Private way to buy bitcoins, no personal information required beyond cellphone number
Cons
  • Users in sparsely populated areas will have trouble finding sellers
Ease of Use
Average
Privacy
High
Speed
Fast
Fees
Low
Reputation
Trusted
Limits
High
Buy Bitcoin

How to Buy Bitcoin in Montenegro

Montenegro doesn't have any Bitcoin legislation whatsoever, meaning Bitcoin isn't legal nor illegal.

Citizens of Montenegro are allowed to buy and sell Bitcoin as they please, granted they're not using it for illicit purposes.

Montenegro doesn't have an abundance of exchanges available in the country, but there are several good options nonetheless. Coinmama and eToro are two popular options available in nearly every country.

Unfortunately, both have low privacy as they require identity verification before the exchange of crypto. Montenegro doesn't have any Bitcoin ATMs either, which are typically the most private way to buy Bitcoin.

Instead, you can use LocalBitcoins, a peer to peer exchange that facilitates Bitcoin exchange amongst those in your country and abroad, without verifying your identity.

Regardless of your exchange of choice, one thing is sure:

You need to protect your investment. Buying Bitcoin - especially large quantities - is no joke, and losing your investment would be a nightmare.

Storing your tokens on exchange wallets isn't a good idea, as they're subject to hackers and thieves. Instead, invest in a cold storage hardware wallet like the Ledger Nano X. Its security and privacy are unrivaled, making it the best way to store your Bitcoin.

Bitcoin Mining in Montenegro

Bitcoin mining profitability is not what it used to be in its golden age when just about anyone could turn a profit. However, with the right mining hardware and cheap electricity, it's still possible to make money.

Montenegro enjoys relatively cheap electricity compared to the rest of the world, coming in at 0.079 Euros/kWh. In the United States, on the other hand, electricity costs 0.11 Euros/kWh ($0.12) on average, which is too high for profitable Bitcoin mining.

The Bitmain Antminer S19 is one of the newest mining ASICs on the market, boasting an impressive hash rate to power consumption ratio.

But according to our mining profitability calculator, even the S19 isn't going to turn a profit in Montenegro. You'll lose more than 2,000 Euros per year with the S19 because Montenegro's electricity is still too expensive for mining.

Buying Bitcoin directly from an exchange is the primary acquisition method for 99.9% of those on the network anyway. Mining requires a substantial upfront investment that is not worth it anymore. If you want to acquire Bitcoin fast and easy, buying it from an exchange available in Montenegro is your best bet.