Buy Crypto & Bitcoin in Trinidad and Tobago

We may receive advertising compensation when you click certain products. Before jumping into this page, an important disclosure.

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 Crypto & Bitcoin in Trinidad and Tobago
  • Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker

CoinmamaCoinmama Buy Now 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.

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 icon
Ease of Use
Easy
privacy icon
Privacy
Low
speed icon
Speed
Fast
fees icon
Fees
Average
reputation icon
Reputation
Trusted
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Limits
High
Buy Now Read Review

BittBitt Buy Now

Bitt is a Bitcoin exchange based in the Caribbean. It has received over $10 million in venture capital funding. You can trade many currencies on the Bitt platform, including BBD, TTD, JMD, USD, EUR, and GBP.

Pros
  • Trusted exchange backed by US investors
  • 1% fees are low for the markets that Bitt serves
  • USD, EUR, and GBP trading fees are very low at 0.2%
Cons
  • Not a private way to buy bitcoin as ID verification is required
  • Low liquidity for certain currency pairs means wide spreads; harder to get bitcoin at a fair market rate
ease icon
Ease of Use
Average
privacy icon
Privacy
Low
speed icon
Speed
Average
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High
Buy Now

Bitcoin ATMsBitcoin ATMs Buy Now

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 Trinidad and Tobago


For now, cryptocurrency is not a legal tender in Trinidad and Tobago, and its Central Bank remains cautious about the new technology.

However, it's legal for citizens of Trinidad and Tobago to buy and sell Bitcoin, provided they're not using it for illegal activities.


Port of Spain City - Trinidad and Tobago's biggest city

One of the easiest ways to buy Bitcoin in Trinidad and Tobago is through cryptocurrency exchanges. Eight different exchanges support Trinidad and Tobago, including Coinmama, one of the largest exchanges in the world.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.

Unfortunately, there aren't any Bitcoin ATMs in Trinidad and Tobago, but you can use LocalBitcoins if you don't want to use an exchange.


bitcoin atm map

LocalBitcoins facilitates private peer-to-peer payments for Bitcoin buyers and sellers. Be careful if you select this exchange - follow the rules, so you don't get scammed.

Speaking of scams, you don't want to lose your Bitcoin to theft or a cyberattack. The best and only way to secure your Bitcoin is with a cold storage hardware wallet.

You can check out our reviews of the two best options on the market - the Ledger Nano S and the Trezor by clicking those links or check out our comparison table below.


COMPARISON

ledger nano x folded

Ledger Nano X

  • SCREEN:
  • RELEASED: 2019
  • PRICE: $119
ledger nano s illustration

Ledger Nano S

  • SCREEN:
  • RELEASED: 2016
  • PRICE: $59
trezor model T

TREZOR T

  • SCREEN:
  • RELEASED: 2018
  • PRICE: $159
Trezor One

TREZOR One

  • SCREEN:
  • RELEASED: 2013
  • PRICE: $59


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Top Bitcoin & Cryptocurrency Exchanges in Trinidad and Tobago


Trinidad and Tobago has access to many large Bitcoin and cryptocurrency exchanges.

Have a look at our favorites below:

  • Popular Exchanges to Buy Crypto & Bitcoin in Trinidad and Tobago
  • 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 Trinidad and Tobago



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

  • 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

Learn More

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

Visit 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

Learn More

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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Exchange Hacks and Crypto Scams in Trinidad and Tobago


Because there are so few exchanges or services for cryptocurrency that are based in Trinidad and Tobago, there are no hacks and very few scams associated with this country. However, we did find many Trinidad and Tobago based youtubers who used to endorse and make money off of the OneCoin cryptocurrency, which ended up being the largest scam in history by dollar amount stolen (nearly $4 billion, to be exact).

You can see a mashup of various T&T based youtubers, such as Cordel 'KingJayms' James, defending OneCoin in the video below:


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Bitcoin Mining in Trinidad and Tobago


Bitcoin mining is a lot harder than buying it directly from an exchange. High upfront costs and low to no profitability has rendered Bitcoin mining obsolete for almost everyone. At this point, it seems that only large scale mining farms in countries with cheap electricity are still operating.

You're probably better off buying it directly, but if you're dead set on mining, here's the deal:

The importance of minimizing electricity costs cannot be overstated when it comes to maximizing Bitcoin mining profitability.

Unfortunately, the Caribbean islands are plagued by exceptionally high electricity costs. Most of them rely on importing oil to generate electricity.

Since the islands import practically all of their fuel, the average electricity cost in the Caribbean ranges between $0.30 and $0.40 per kWh, which is astronomically high.

In comparison, citizens of the United States pay around $0.12 per kWh on average.

However, Trinidad and Tobago is an outlier - the nation conveniently has a virtually abundant supply of natural gas on the island. As a consequence, their average electricity cost is approximately $0.05 per kWh, between one-sixth and one-eighth the price of other Caribbean islands.



Not only is Trinidad and Tobago's electricity lower than its fellow nations in the area, but it's also cheaper than most countries around the world.

In fact, according to our Bitcoin mining profitability calculator, a profitable mining operation is possible in Trinidad and Tobago. Using the Antminer S19, one of the most recent pieces of mining hardware, would turn a profit of around $535 per year with the current price of Bitcoin.

As you can see, even in a country with dirt-cheap electricity, mining is barely profitable. The ASIC mentioned above costs more than $2,000 per unit, which means you probably won't be able to pay it off for a few years, if at all.


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FAQ


Does Coinbase work in Trinidad and Tobago?

Coinbase ONLY ALLOWS crypto-to-crypto conversion services for customers in Trinidad and Tobago as of September of 2020.


Where Can I Find a Bitcoin ATM in Trinidad and Tobago?

Unfortunately, there are no Bitcoin ATMs in Trinidad and Tobago as of September of 2020. We will update this page if and when this changes.


bitcoin atm map

What is the price of Bitcoin in Trinidad and Tobago?

The current price of Bitcoin in Trinidad and Tobago is TTD 69,402, however this amount changes every minute, so always check the value on your local exchange.


bitcoin price ticker

How do I cash out of Bitcoin in Trinidad and Tobago?

Any exchange with a TTD trading pair will allow you to sell your Bitcoin for fiat currency. Bitt has TTD 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.


localbitcoins offers

You could also use a service like eGifter to sell your Bitcoin for gift cards.

About the Author: Jordan Tuwiner

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.