Bitcoin Namibia

How does it work?

  1. Create an account or login by clicking on ‘Login/Register’ in the site menu and filling out the registration form making sure you fill out the correct information and confirm via your email upon first registration.
  2. Click on ‘Buy’ in the top menu, enter the amount of bitcoin you would like to purchase and click on the  ‘Add to Cart’ button.
  3. Select whether you will receive Bitcoin via Lightning or on-chain transaction.
  4. Navigate to the checkout page by clicking on ‘checkout’ at the bottom of the cart page and then choose your preferred payment method and confirm your order.
  5. You will receive an invoice in your email which you will have a maximum of 2 hours to pay via your chosen payment method. The first row in the invoice shows the amount of Bitcoin you will receive.
  6. Once the invoice is paid, send your Bitcoin wallet address to us via SMS, email or preferred contact method and receive your bitcoin in your private wallet.

All purchases are charged 2% commission on the bitcoin bought. 

How to pay with EFT/Online banking?

ALL PURCHASES MUST BE PAID WITHIN 2 HOURS OF ORDERING OR THE ORDER IS AUTOMATICALLY CANCELLED.

Our bank account is with FNB Namibia (FNB to FNB payments will clear immediately) , if you are paying from another banking institution please be aware of the clearing times of your payment (usually 12am midnight next day if transaction is done before 12pm mid day, 48 hours if payment made after mid day).

Orders that are paid from another bank and that clear after more than 24 hours are recalculated at current Bitcoin: NAD rate when the monies clear into our account.

How to pay with FNB eWallet?

ALL PURCHASES MUST BE PAID WITHIN 2 HOURS OF ORDERING OR THE ORDER IS AUTOMATICALLY CANCELLED.

Pay with FNB eWallet.

Send the correct amount to the cellphone number shown on the invoice.

Where is my Bitcoin wallet on this site?

We do not host ANY wallets on this website, all customers MUST have their own valid private wallet installation they can receive the bitcoin to after paying for their order.

Bitcoin is an open source software project and there are several wallet implementations available.

Lightning enabled wallets:

Muun Wallet (Android/iOS)

Blue Wallet (Android/iOS)

 

On-Chain Bitcoin Wallets:

Samourai Wallet (Android)

Green Wallet (Android/iOS)

Electrum (PC)

Umbrel (Raspberry Pi)

What is the turn around time to receive my Bitcoin?

ALL PURCHASES MUST BE PAID WITHIN 2 HOURS OF ORDERING OR THE ORDER IS AUTOMATICALLY CANCELLED.

The average time to receive your bitcoin into your private wallet after payment is 20-30 minutes given that your payment has been paid into our account. Our maximum turnaround time may increase to 72 hours due to network congestion and other outside factors.

What is Bitcoin Trade Namibia's legal position?

Bitcoin Trade Namibia is located in Namibia and is subject to its relevant laws.

The Bank of Namibia released a media circular on the 2nd of May 2018 stating specifically that:

  • (In regards to) Online trading of Cryptocurrencies (Section 2.5)
    2.5.1. Any member of the public or entity in Namibia that engages in mining, online trading (buying and selling) and exchanging of cryptocurrencies are subject to the applicable provisions of the Financial Intelligence Act, 2012 (Act No. 13 of 2012), as amended (FIA). This is to ensure that any risks related to money laundering, financing of terrorism and proliferation are controlled.

This means that our clients are welcome to trade with ‘Bitcoin Trade Namibia’ provided they are aware of the associated risks. The Bank of Namibia has also released a paper stating it’s position on ‘Distributed Ledger Technology’ which can be found here.

We therefor urge all customers to read through the relevant material and heed all risk warnings therein and any other Bank of Namibia regulation pertaining to ‘Virtual Currency’ as defined by them. ‘Bitcoin Trade Namibia’ is committed to regulatory compliance, please refer to our ‘Compliance’ page.

Do you trade on behalf of customers for profit?

Bitcoin Trade Namibia does not in any circumstances ever trade Bitcoin for the promise of future profit to any customer. All purchases are at the behest and own risk assessment of the customer.

Bitcoin Trade Namibia is not a financial advisor:

PLEASE DO YOUR OWN RESEARCH AND DUE DILIGENCE OR CONSULT A REGISTERED FINANCIAL ADVISOR BEFORE INVESTING SIGNIFICANT AMOUNT OF MONEY INTO THE BITCOIN NETWORK.

Can customers outside of Namibia use this service?

We can only fulfil ‘Buy’ and ‘Sell’ orders to Namibian (any local bank) customers and SADC customers using Standard Bank, FNB or Nedbank.

Can I sell my bitcoin on this site?

We can fulfil ‘Buy’ and ‘Sell’ orders of ‘Bitcoin.

Can I buy altcoins on this site?

We not offer any altcoin (shitcoin) sales. There are several freely available services online such as ShapeShift and Changelly that allow you to turn your Bitcoin into the desired altcoin (shitcoin).

How is the Bitcoin to NAD/ZAR value calculated?

Our rates are updated upon every page refresh and are independently set by us to accommodate market fluctuations and our operational overhead. We attempt to follow SADC price average from LocalBitcoin.com and similar services.

Can I return or reverse a paid order?

Once the correct Bitcoin amount has been transferred into the client’s wallet, all purchases are final. No refund requests will be accepted.

Can I buy less than the advertised amount?

Minimum buy orders start at 300NAD, minimum sell offers from 0.003 BTC.

All offers must be placed through the digital shop.