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.

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

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

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).

All purchases have a maximum turnaround time of 72 hours provided there is not any undue network congestion, with the average being about 2-3 hours for delivery of your bitcoin into your provided wallet.

Please note the above applies to when monies for your order arrives or is cleared into our business banking account.

Our bank account is with FNB Namibia so if paying EFT from another 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.

All eWallet payments are deposited at 8am and 7pm every weekday. If using FNB use the Pay2Cell function

( cellphone banking: Banking> Payments > Pay2Cell | app:  Payments > Once off> Specify Recipient Details> Enter Cell number)

Use the cellphone number on the invoice sent to your email to send an eWallet transaction directly to our account.

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 stay within 7-15% markup of the global value as displayed on Coinmarketcap.

In times of extreme volatility, we may update our rates at more accommodating, as defined above, intervals.

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

Please refer to this Bitcoin.org guide to choose a wallet.

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

Once a sale order is paid, we will contact you to securely receive your wallet details from you.

We offer private sales of orders of a larger magnitude, please leave us a message in the contact page.

Private orders of a larger magnitude may have to be verified by relevant authorities before approval.

Minimum orders start at 300NAD and must be placed through the digital shop.