How to Buy Bitcoin in Ethiopia: Top 3 Exchanges in 2023

Ethiopia is home to a small but growing bitcoin community. Grappling with inflation and the limitations of a largely cash-only economy, Ethiopians are turning to bitcoin as a hedge against the volatile Birr (ETB). Consequently, a number of crypto exchanges allow Ethiopians to purchase bitcoin. In this guide, you will find the top exchanges you can use to buy bitcoin in Ethiopia.

Best Bitcoin Exchanges in Ethiopia

LocalBitcoins

LocalBitcoins is a peer-to-peer bitcoin exchange that allows you to list your own buy and sell advertisements. Moreover, LocalBitcoins supports a number of local currencies, including the Ethiopian birr.

• To start trading on the platform, you will have to sign up for a free account.
• Once your account has been verified the process of buying bitcoin is simple.
• To purchase BTC, you have to provide the amount, transactional currency, mode of payment, and location.
• Thereafter, you will click on the ‘search’ tab to filter the list according to your preferences.
• Once you have found the right offer, click on it and follow the instructions about the payment.
• Once the payment is made, you will receive your bitcoin in your LocalBitcoins wallet.

You can use the LocalBitcoins reputational rating system to analyse a seller’s trading history and buyer feedback from the trades. LocalBitcoins has an escrow feature that ensures you receive your BTC once the payment has been processed and the trade is complete.

Paxful

Paxful is a leading peer to peer bitcoin marketplace used by millions around the globe. It supports up to 300 modes of payment and allows you to buy bitcoin using the Birr (ETB). You can access the exchange on the web or download the app via Google Playstore and Apple store.

• To start, you have to register and verify your account. Your trading volume limit will depend on your level of verification.
• To initiate a bitcoin purchase, you will have to set up your search requirements and select your payment method and transactional currency.
• You can fund your purchase via bank transfer, credit/debit card, skrill, the western union just to name a few.
• Subsequently, you can browse the list of offers taking note of the rating and reputation, and select an offer with your preferred terms.
• You can discuss the details of the trade with the seller through the Paxful live chat feature. If you are satisfied with the terms you can go ahead and make the payment.
• Once the payment has been processed the seller will receive the bitcoin to your Paxful wallet directly.

All trades on the platform are protected by a secure escrow service to guarantee seamless transactions.

LocalCryptos

LocalCryptos is a non-custodial peer-to-peer crypto exchange that allows you to buy bitcoin in Ethiopia. You can purchase bitcoin using bank transfer, PayPal, and more. Moreover, the platform supports multiple currencies including the Ethiopian Birr (ETB). The marketplace serves more than 100,000 traders in over 100 countries.

To start onLocalCryptos you must first sign up with a username and password. Your password is essentially the private key to your wallet and messages. Therefore, you have to take great care not to forget it. Without your password, you cannot access your LocalCryptos account.

• On the dashboard, you can search for an offer that meets your criteria in regards to location, popularity, payment, and price. Once you find a suitable offer, you can open a trade.
• Enter the amount of bitcoin you want and wait for the seller to put BTC in escrow.
• Transfer the funds to the seller and select “Mark as Paid.”
• Finally, the bitcoin will arrive in your wallet.

LocalCryptos secures your messages with end-to-end encryption, ensuring anonymity between trades. The platform has a dispute chat where payment issues can be handled via arbitration.

To learn more about Bitcoin, download the Bitcoin Beginner’s Handbook for free.