How to Invest in Bitcoin from Botswana?
What are the risks?
How does an investor prevent themselves being scammed?
What is a legitimate investment?
Why are there so many people selling Bitcoin & Crypto? What’s in it for them?
As advisers, we’ve watched the emergence of Bitcoin, other crypto currencies and NFT’s with a degree of skepticism and a lot of caution. The ups and downs of this sort of market are certainly not for the faint hearted.
How can I get proper advice?
We recognise that there is a demand for information from professionals about Crypto, and we’ve done a lot of research into the risks and the potential returns.
SCI Wealth do not receive fees or commissions from any Bitcoin or Crypto provider. That ensures that our advice to you is independent and unbiased.
Reach out to us by clicking below to set up a free discovery session with a qualified investment adviser
How Do I Buy Bitcoin?
Buying Bitcoin for cash should be done on a legitimate exchange. The two largest global Crypto Exchanges are Binance and Coinbase.
While anyone can transfer Bitcoin to your Bitcoin Wallet, the time taken to verify the transaction, and the transaction costs can make this a risky business. Similarly, using a Bitcoin ATM is risky (Note: Bitcoin ATM’s are not actually ATMs - you can’t get cash from them in exchange for Bitcoin)
How do I sell Bitcoin?
Similarly, you can’t convert Bitcoin to cash directly whenever you feel like it, but you can sell your Bitcoin anonymously on the blockchain if you can find a buyer.
For better security, a crypto exchange handles the transaction on your behalf and finds a buyer so that you can quickly convert the value of your Bitcoin into the cash you need.
However, getting your money back can be difficult - each exchange has different rules and time periods for transferring to your bank account, but most can be done in one to three days after the Bitcoin sale is complete - for a fee.
Links for Legitimate Bitcoin and crypto exchanges:
https://accounts.binance.com/en/register
https://www.coinbase.com/places/botswana
What Is a Bitcoin Wallet?
A Bitcoin wallet is a place that stores your digital Bitcoin and validates your transactions when you’re using your Bitcoin.
A wallet keeps secret information, called a private key or a seed, used to validate transactions and “sign” them so that your Bitcoin can be used to make purchases or exchange for another asset. This prevents someone else from using your Bitcoin or the transaction being altered by a third party.
Often, when people refer to a Bitcoin wallet, they refer to a crypto exchange that offers a wallet as part of their account features. In this sense, the wallet is just where all of your cryptocurrencies are kept or where you can keep fiat money for future use.
Links for Legitimate Crypto Wallets
Both Binance and Coinbase offer their own Crypto Wallets, but if you wish to have a separate store for your Bitcoin:
Best Free Bitcoin Wallet: Mycellium: https://wallet.mycelium.com/
Best Paid Bitcoin Wallet: Ledger: https://shop.ledger.com/pages/ledger-nano-x