How to buy Bitcoin P2P with M-Pesa
While M-Pesa doesn’t have the increased freedoms and control that come with bitcoin, users of M-Pesa are frequently getting involved with bitcoin via P2P cryptocurrency exchanges as there is a much lower learning curve to understand how to buy bitcoin when you are already comfortable handling your own digital funds via mobile payments.
In addition, P2P cryptocurrency exchanges, such as LocalCoinSwap, provide seamless platforms for people to hedge against political and economic instability, devaluation, hyperinflation, demonetization and foreign exchange controls. They also have many advantages over centralized exchanges due to a large number of payment methods available, increased privacy and improved accessibility.
There is also an increased awareness that bitcoin, and cryptocurrencies in general, can be used to buy and sell goods and services worldwide providing people with unique business opportunities to make money and finally take part in the financial system on their own terms.
For example, if your local community doesn’t have many people actively buying or selling bitcoin and accepting M-Pesa as the payment method, that’s a great opportunity for you.
In this case, you can start your own profitable business by becoming your own P2P cryptocurrency exchange and helping others to buy and sell bitcoin. You may even find depending on where you are and the availability of traders accepting M-Pesa for bitcoin, a payment premium may be on offer leading to higher profits!
What is M-Pesa?
M-Pesa is a mobile banking service that allows people to store and transfer money via SMS messaging on a mobile phone. M-Pesa was originally launched in Kenya by Safaricom in 2007. Since then, M-Pesa has helped to grow the company to be the largest mobile phone services provider in Kenya. M-Pesa provides a way for many Kenyans to access financial opportunities and engage with others in the community in ways that would have previously been impossible, thanks to the low barrier of entry required to use the service.
Ready to Buy and Sell Bitcoin on LocalCoinSwap with M-Pesa?
Buying and selling with M-Pesa on LocalCoinSwap is fast, secure and private. There’s no KYC required to register an account so you don’t need ID to get started. You also receive a free, secure bitcoin wallet upon signing up.
- Go to Localcoinswap.com
- Click on the “Register” button
- Enter your email address, pick a username, and a secure password for your account.
- Click the “Sign Up” button
Next, verify your account. Don’t worry, all you have to do is open the email that is sent when you registered and click the link within the email. This is to ensure you are the person who is in control of that specific email address.
You can now start to buy bitcoin with M-Pesa on the LocalCoinSwap P2P marketplace.
How to Find Traders Accepting M-Pesa on LocalCoinSwap
When wanting to buy or sell bitcoin with M-Pesa, the first step is to check if there are any offers already available on the exchange.
You can find suitable trade advertisements by simply selecting “M-Pesa” in the payment method search drop-down box and you will only see advertisements where M-Pesa is being accepted as the payment method.
You can also refine what trade advertisements are shown during your searches in a variety of other ways. If you want to trade locally you can select your particular suburb, city or country to only see offers available to you locally, or if you want to see advertisements internationally, you only have to select “worldwide” and you are able to buy and sell on a wider network.
By using the search bar you can quickly find what you’re looking for by selecting the things that matter to you such as payment method, location or local currency.
Making your Own Trade Advertisement to Buy or Sell Bitcoin
If you can’t find an advertisement that matches your terms (price, location, cryptocurrency or payment method), that’s no problem because you can quickly make your own advertisement with minimal effort. Simply click the “Post a New Trade” button and following the prompts. It’s free to post an advertisement, and you’ll only be charged any fees if a trade is completed, so there’s no reason not to make an advertisement even if you aren’t sure someone will take you up on your offer plus you can make as many offers as you want.
If you are a bitcoin seller, it’s important to remember that you don’t even need to put your cryptocurrency on the LocalCoinSwap exchange when you create your sell advertisement. Cryptocurrency is not required to be funded in your account until your trade is initiated by a buyer. This is a unique feature of LocalCoinSwap as it means that you don’t have to have your funds locked up in the exchange while waiting for a buyer.
Not only does this create profitable arbitrage opportunities for bitcoin sellers, as you can trade using multiple platforms, but it also helps bitcoin sellers to react to volatile market conditions quickly by managing multiple advertisements without needing to worry about the value of your cryptocurrency.
LocalCoinSwap is a fantastic P2P cryptocurrency exchange for everyone, from first-time bitcoin traders looking to buy bitcoin for the very first time, all the way to more advanced bitcoin and cryptocurrency traders who want less risk and more arbitrage opportunities to make money.
Start buying and selling bitcoin with M-Pesa on the LocalCoinSwap P2P Exchange today!