Few years back I came across a word called Bitcoin. I only knew its definition, i.e. Its a digital currency, developed by unknown developer named Satoshi Nakamoto. I always had a question about how to buy this currency and there was no one to guide me. I googled up everything, but the methods does not include third world countries. I tried to purchase BTC online on exchange platform with my bank card but it was rejected because cryptocurrency is illegal in our region. Due to lack of awareness I didn't knew about the impacts of cryptocurrency on individuals and our economy and I realized that our region is still in stone age era. But its never too late. Today, my portfolio is diversified with many alt coins. Every week I explore new potential alt coins and put my saving to buy them if it is worth it.
But how did I bought my first crypto?
In short, I came across an exchange platform which specifically provides a payment gateway for the people of third world countries. Today, many exchange platforms such as Coinbase, Kraken, Binance, KuCoin and few more provides P2P trading, which helps the user to buy cryptocurrency with fiat in local payment method. Most of us might know about P2P trading, but our government doesn't want us to know and many people are still trying to figure out about how to buy cryptocurrency. Let's begin the guide how to buy cryptocurrency in a third world countries. In this guide I will use Binance exchange, I personally use it because P2P trading UI is simple and also they verify user's government issued identity documents in less time.
Guide:
1- Open Binance on your web browser or download an app on your phone.
2- Click on "Register" button.
3- Sign up using email or phone number.
4- Then, click on profile icon and select "Identification".
note: Complete identification process by submitting your original identity documents which are issued by your country of residence government. This process can take up to several days for verification approval by Binance customer support center.
5- After receiving confirmation email of successful approval of your verification, click on wallet and select P2P trading.
6- Click on "P2P Trading" button.
7- Select your fiat currency that you are willing to pay with, and select your desired payment option.
8- Choose seller with good reputation. And click on Buy USDT.
9- Now on this step you have to make payment manually from your bank account or digital fiat wallet to seller's account.
10- Send screenshot of your payment invoice to the seller.
11- Congrats! Seller has released USDT crypto into your account.
note: If seller does not release USDT cryptocurrency in your Binance P2P wallet in a given time, then you can appeal to Binance customer support center, and they will recover your USDTs from seller.
12- Now open your P2P wallet, then transfer your USDTs from P2P wallet to Spot wallet.
13- Finally, now you can exchange USDT with your desired cryptocurrency, such as BTC, ETC and all the alt coins.
Today's article is bit different, mainly for new crypto traders from third world countries. The reason I decided to write an article on this topic so no one left behind. I believe freedom is for everyone. We all have a rights to choose and decide for ourselves. The world is moving towards an adoption of cryptocurrency and I hope soon our people will demand our governments to legalize cryptocurrency in our region.
Link of Binance: Binance.com
disclaimer: I am not a financial advisor. Kindly do your own research before making any decision. I am not responsible for any financial loss. You are solely independent to make your decisions. I do my own research before investment and then share my experience so others might get benefit from my little knowledge.
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Originally written and published on publish0x by me.