Lesotho, a small mountainous country surrounded by South Africa, has seen growing interest in cryptocurrencies like Bitcoin in recent years. However, the crypto landscape in Lesotho remains relatively undefined from a regulatory perspective.
This article provides guidance on buying Bitcoin in Lesotho despite the lack of clear regulations. It will first discuss the current regulatory environment and approach taken by authorities regarding digital assets. Then, it will outline some of the top cryptocurrency exchanges and wallet options available for Lesotho residents looking to purchase Bitcoin. Read on to learn about your options for getting involved in Bitcoin in Lesotho.
What you'll learn 👉
Crypto Regulations in Lesotho
The Central Bank of Lesotho states that cryptocurrencies are outside its regulatory jurisdiction. Consequently, the bank will not provide any recourse in case of financial losses involving cryptocurrencies. The public is advised to exercise caution in this regard.
Lesotho, situated in sub-Saharan Africa, has not officially regulated cryptocurrencies, nor has it imposed a ban on them. Currently, there is no specific information regarding the legal status of cryptocurrencies in Lesotho.
Easiest and cheapest ways to buy crypto in Lesotho
Getting bitcoins in Lesotho is not an easy task as not all popular crypto exchanges are available to Lesotho citizens. This is a current list of bitcoin exchanges that allow users from Lesotho to buy crypto. They all support buying crypto with credit/debit cards but some of them offer other payment methods as well.
👛 Ease of Use – Easy 👛 Fees – Average 👛 Verification – 2-3 Days 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, JPY, CAD
As a pioneering cryptocurrency exchange, Kraken has been at the forefront of the crypto revolution since 2011. Its platform is a gateway to a vast array of over 220 digital assets, including market leaders like Bitcoin, Ethereum, and emerging players like Cardano. Security is a hallmark of Kraken, making it a trusted choice for traders worldwide.
Its global presence is commendable, serving users in a multitude of countries, with a few exceptions like Cuba and North Korea. In terms of flexibility, Kraken shines, offering users a wide spectrum of payment options and facilitating transactions in a variety of fiat currencies. Moreover, advanced traders can tap into specialized features to enhance their trading experience.
⚡️ Deposit fees: EUR SEPA Deposit (Free) – EEA countries only USD Bank Wire Deposit ($5 USD) – US onlyEUR Bank Wire Deposit (€10) – outside the US only USD Bank Wire Deposit ($10 USD) – outside US onlyJPY Bank deposit (Free, ¥5,000 deposit minimum) – Japan-only USD, Wire Deposit (Free) ⚡️ Withdrawal fees: Cryptocurrency: Fees vary, SEPA Withdrawal (€0.09) – EEA countries only USD Bank Wire Withdrawal ($5 USD) – US only USD Bank Wire Withdrawal ($60 USD) – outside US onlyEUR Bank Wire Withdrawal (€60) – outside US onlyJPY Bank withdrawal (¥20) – Japan onlyCAD EFT Withdrawal ($10 CAD) ⚡️ Trading fees: Maker: 0.16% Taker: 0.28% ⚡️ Payment Methods: Fedwire, Bank Transfer (SEPA), SWIFT, Wire Transfer, Etana Custody, Silvergate Exchange Network (SEN), FPS, CHAPS, and BACS, PayID, Osko ⚡️ Supported fiat: USD, EUR, GBP, JPY, CAD
Advanced trading and staking features It has been active on the crypto market for a very long time It has a good reputation Advanced trading and staking services
Fees are fairly high No derivates or futures trading
👛 Ease of Use – Easy 👛 Fees – Average 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, CAD, AUD + more
Paxful is “the Uber of the Bitcoin”. It is a crypto exchange based in the US that has over 200 employees. Paxful was launched back in 2015 so it has been around for quite some time now. The founders of Paxful are Artur Schaback and Ray Youssef.
The headquarters of the company is in NY, US. Paxful offers a simple, easy way to buy crypto assets. Moreover, if you would like to spread the word about Paxful while generating a 2% revenue from any amount bought, there is Paxful’s affiliate program called “virtual kiosk”.
⚡️ Deposit fees: Free ⚡️ Withdrawal fees: 0.5% – 5% ⚡️ Trading fees: No buyer fee, seller fee varies from 0.5% to 5% ⚡️ Payment Methods: Over 350 payment methods are available ⚡️ Supported fiat: USD, EUR, GBP, CAD, AUD, and many more
An incredible number of payment methods Easy-to-use platform Available in more than 180 countries Security is on a high level
👛 Ease of Use – Medium 👛 Fees – Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, AUD, RUB
Over 30 million users worldwide and more than $15 billion in daily trading volume make Binance the world’s largest centralized cryptocurrencies exchange. Originally launched in 2017 in Hong Kong, the platform is still unregulated, it quickly became the most used exchange on the market. Binance is supported in 60+ countries (excluding the U.S).
On Binance, you can buy, sell, and trade a large number of cryptos with low fees. Two Factor Authentication, cold storage, and multi-sig wallets provide Binance users excellent security. It is considered one of the most secure cryptocurrencies exchange in the crypto sphere. Binance supports spot trading, margin trading, P2P trading, futures, earn (locked savings, fixed savings, yield farming, and DeFi staking), mining, and staking pools. You can trade more than 350 cryptos and over 1300 trading pairs.
⚡️ Deposit fees: Free ⚡️ Withdrawal fees: Vary from crypto to crypto ⚡️ Trading fees: 0.1% ⚡️ Payment Methods: Debit Card, Credit Card, SWIFT, Bank Transfer (SEPA), and more ⚡️ Supported fiat: USD, EUR, GBP, AUD, RUB, and 15+ more
Low fees High liquidity Lite and Pro version 350+ cryptos and 20+ fiat currencies
Not accessible to U.S. users Hacked in 2019
Best Bitcoin Wallets in Lesotho
It is never a good idea to keep your coins on an exchange as that exposes you to numerous risks (exchange hacks, fund freezes by the exchange or some government regulatory body, etc). That is why you should use one of the wallets we list below to store your digital assets.
But, which bitcoin wallet is available in this country?
The safest option is a hardware wallet like Nano X but ZenGo is also a good choice, especially for newcomers.
👛 Ease of Use – Easy 👛 Fees – Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, and more
Founded in 2012 in Finland by Nikolaus Kangas, LocalBitcoins represents one of the largest P2P (peer-to-peer) marketplaces online. Nicknamed as the “Craigslist” of Bitcoin, users can communicate and trade directly on the platform with one another. Bitcoin is the only currency supported by LocalBitcoins.
The numerous security measures (Escrow, Reputation System, etc.) make the platform a safe and reliable Bitcoin trading place. LocalBitcoins doesn’t use the usual brokerage business model. Instead, as a P2P network, it works by connecting sellers and buyers that are located in the same area. You post an ad on the website and state the exchange rate and the desired payment method. Users in the local area can reply to the advertisement and arrange a meet-up either online or in person. The whole process is pretty straightforward.
👛 Ease of Use – Easy 👛 Fees – High 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, RUB
Founded in 2013 in London, UK, and with over 4 million users, Cex.io is among the oldest cryptocurrency exchange platforms on the market. On Cex.io, you can buy, sell, trade, and store over 100 cryptocurrencies.
This centralized exchange supports fiat to crypto purchases, margin trading, spot trading, staking, lending, leverage, and savings. It has more than 100 cryptocurrencies available for trade and over 220 trading pairs. Today, Cex.io is available in more than 180 countries around the globe (including the U.S.). Cex.io applies AML and KYC policies, and it is registered with The Financial Crimes Enforcement Network (FinCEN).
👛 Ease of Use – Easy 👛 Fees – High 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, CAD, AUD
Founded in 2013 in Israel, Coinmama is one of the oldest crypto exchanges in the business. With its current headquarters in Dublin, Ireland, this centralized cryptocurrency exchange allows its users to quickly and securely buy and sell cryptocurrencies.
Coinmama is a popular platform used by 1.5 million people in more than 150 countries (except for 11 states in the United States). The company is registered with The Financial Crimes Enforcement Network (FinCEN) in the United States and ensures that the coins purchased through their platform are directly transferred to the user’s non-custodial wallet, rather than being kept in Coinmama’s own wallets.
⚡️ Deposit fees: 0 – 5 % ⚡️ Withdrawal fees: None ⚡️ Trading fees: 2.9 – 3.9 % ⚡️ Payment Methods: Bank Transfer (SEPA), SWIFT, Fedwire, Bank cards, Open Banking, Google Pay, Apple Pay, Skrill ⚡️ Supported fiat: USD, EUR, GBP, CAD, AUD
Available almost worldwide Mobile App (Android and iOS) Good for Beginners Good Support Various payment methods
A small selection of available cryptocurrencies Not the lowest fees Can’t do anything on the platform other than purchases and sells of coins
👛 Ease of Use – Easy 👛 Fees – Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, CAD, and 10+ more
Crypto.com, headquartered in Singapore, is a digital currency exchange platform. They provide a range of services such as a mobile application, trading platform, digital wallet, and an NFT marketplace. With support for over 250 cryptocurrencies, the platform enables users to transact and trade a diverse array of digital currencies.
Currently, Crypto.com is available in more than 150 countries around the world, and it has over 1.5 million users. It prides itself as a one-stop shop where crypto enthusiasts can buy, sell, transfer, spend, earn, and track cryptocurrencies.
It was known initially as Monaco Technologies but swapped to Crypto.com in July 2018. It wasn’t long for it to show that it meant business as it raised $26.7M in a token sale in June 2017 after being accepted into Supercharger, a leading FinTech accelerator. With a built-in exchange, an intuitive mobile app, prepaid VISA cards, and an increasing number of supported cryptocurrencies Crypto.com has established itself as a popular name in the cryptocurrency world.
It accepts both fiat and cryptocurrencies Mobile App (iOS and Android) It provides other financial services like crypto loans, crypto staking, DeFi, etc., depending on your country It offers tax support
The customer support could do better Fiat withdrawals take too long You need to have 50,000,000 CRO (its native token) to benefit from its highest fee discount
Frequently asked questions about buying Bitcoin in Lesotho
Is Bitcoin available in Lesotho❓
Yes, you can buy Bitcoin in Lesotho on any of the exchanges mentioned in this article.
As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge.
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