Buy Crypto & Bitcoin in Senegal

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  • Popular Exchanges to Buy Crypto & Bitcoin in Senegal
  • eToro exchange logo
    eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Clean & easy trading interface
    BUY NOW at eToro's Secure Site

    This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

  • 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

eToroeToro
Buy Now at eToro's Secure Site

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.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

Pros
  • Offers unique copy trading feature
  • Trusted exchange that has been active in traditional finance
  • Interface is clean and easy to use
Cons
  • You cannot deposit cryptocurrency, but you can deposit with other payment methods
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Ease of Use
Easy
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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 Read Review

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
privacy icon
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 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
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 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
privacy icon
Privacy
Low
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Speed
Average
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
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
Buy Now

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Bitcoin & Cryptocurrency Trading in Senegal


Senegal is a member of the World Trade Organization and has developed a great tourist industry. Other sectors of the Senegalese economy’s sector include mining, fishing, agriculture, construction, and foreign trade. Unfortunately, the country is negatively affected by a poor education system, high degrees of polticial corruption, an inefficient justice system, and grinding bureaucracy, hampering development.

In 2016, Senegal announced it would be the first country to have a cryptocurrency based on its national currency. A Senegalese financial institution was ment to manage the development and the integration of eCFA (the digital currency). Also, the government of Senegal declared that this new digital currency would have the same legal framework as a legal tender. The project ultimately failed (unsurprisingly), however the country remains farily open to Bitcoin and other cryptocurrencies.


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Dakar - the capital of Senegal

One of the easiest ways to buy Bitcoin in Senegal is through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Senegal, and you can easily 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 the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, 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

Another option for Buying Bitcoins in Senegal is through peer-to-peer exchanges like LocalBitcoins. On platforms like these, users buy and sell with other individuals directly. More on how these work in Chapter 6.


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Top Bitcoin & Cryptocurrency Exchanges in Senegal


Senegal has access to many large Bitcoin and cryptocurrency exchanges.

Have a look at our favorites below:

  • Popular Exchanges to Buy Crypto & Bitcoin in Senegal
  • Coinmama exchange logo
    Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker
  • eToro exchange logo
    eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Clean & easy trading interface
    BUY NOW at eToro's Secure Site

    This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.


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Best Bitcoin Wallets for Senegal



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

  • 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 Senegal


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 Senegal 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 Senegal


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 Senegal that Support Dogecoin
  • eToro
    • Supports Dogecoin buying & selling
    • Coins supported:
    • Dogecoin btc eth ltc
    BUY Dogecoin NOW at eToro's Secure Site
  • 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 Senegal


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


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Exchange Hacks and Crypto Scams in Senegal


As of January of 2021, we could find no exchange hacks or significant scams affecting Senegal or its citizens. We will update this page if/when any news of scams or exchange hacks occur in Senegal.


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Bitcoin Mining in Senegal


Electricity is one of the most important factors to consider when determining mining profitability. If the value of your newly mined Bitcoin is greater than your electricity bill, you're profitable.

Using mining hardware with a high hash rate to power consumption ratio is one way to improve Bitcoin mining profitability. But even with the most efficient mining hardware, you won't make a dime if electricity is too expensive.

Most large mining operations are in countries with dirt-cheap electricity - $0.05 per kWh or less. Senegal's electricity prices, on the other hand, are approximately $0.16 per kWh.

While Senegal's electricity isn't too high on the global scale (for comparison, the United States averages $0.12 per kWh), it's far too high for profitable Bitcoin mining.

Even with the latest and greatest mining hardware, you'd lose several thousand dollars per year per miner, on top of your significant upfront investment.

For most, buying Bitcoin directly from a Senegal supported exchange is the easiest and fastest way to acquire Bitcoin.


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FAQ


Does Coinbase work in Senegal?

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

Where Can I Find a Bitcoin ATM in Senegal?

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

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 Senegal?

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 Senegal?

Any exchange with a West African CFA franc trading pair will allow you to sell your Bitcoin for fiat currency. eToro has XOF 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.