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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.
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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.
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.
SatoshiTango is a South American Bitcoin exchange. Users in Brazil, Colombia, Chile, Peru, Uruguay, Argentina, Costa Rica, Ecuador, El Salvador, Honduras, Panama and Nicaragua can use SatoshiTango to buy bitcoin.
Payment methods include bank transfer, bank wire, cash deposit in Buenos Aires or through a coupons from PagoFacil, RapiPago, BaproPagos, CobroExpress or ProvinciaPagos.
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.
Bitcoin is legal in Nicaragua and used by its citizens. The government is Bitcoin and blockchain-friendly, making it easy to buy and sell Bitcoin in the Central American country.
Unfortunately, Nicaragua doesn't have a plethora of exchanges available to it, but the popular players are all there. Coinmama and eToro are two large exchanges available in the country, but they require identity verification before purchase.
Nicaragua doesn't have any Bitcoin ATMs in the country either, which are typically the most private way to buy Bitcoin. If privacy is a concern for you, LocalBitcoins is another good option. The platform matches sellers with buyers on the Bitcoin network, bypassing centralized exchanges, and the need for identity verification.
It's also important to make sure you use a Bitcoin hardware wallet to securely store your private key, safe from hackers and thieves. Centralized exchanges are risky because they're vulnerable to hackers, whereas cold storage is off the grid and secure.
With your wallet situation square away, buying Bitcoin in Nicaragua is easy. Choose an exchange, connect a payment method, and purchase Bitcoin to your heart's content.
Electricity is one of the leading mining profitability factors to consider when setting up a mining operation. If the value of the Bitcoin you mine is greater than your electric bill, you're profitable. But given Bitcoin's rising mining difficulty, it's becoming harder by the day to mine Bitcoin, especially for those just getting started.
Most profitable mining operations run at scale, in countries with dirt-cheap electricity, at or below $0.05 per kWh. Nicaragua, on the other hand, far exceeds that number, coming in at $0.21 per kWh, more than four times the maximum profitable cost.
According to our Bitcoin mining profitability calculator, you'd lose several thousand dollars per year on average, not to mention the high startup cost for expensive mining hardware.
If you want to acquire Bitcoin in Nicaragua, buying it directly from an exchange that supports your country is probably the best option. Sure, you can mine for fun, but you won't make a penny.