Various options available for the citizens to buy Bitcoins in Srilanka.
The Bitcoin craze is hovering in the minds of most of the citizens of various countries of the world. Volatility is the key matter of concern for which Bitcoin and other cryptocurrencies are famous for. In certain countries, the cryptocurrency domain is completely banned, while in some of the other, they are unregulated, there is also a third category of nations which have understood the potential of cryptocurrencies and Blockchain Technology and they are regulated and supported completely by the country. There are different methodologies by which one can avail Bitcoin and as well as various other cryptocurrencies, depending upon the type of regulation in the country but it is disheartening that some countries around the world, have completely chosen to deny the usage of cryptocurrencies. Let us see how you can buy bitcoins in Sri Lanka.
How to buy Bitcoins in Sri Lanka?
Sri Lanka is one of the most popular developing countries among many others in the list. The users can easily buy Bitcoins in Sri Lanka by adopting any one of the many methods available to them.
One of the best and the preferred methods to buy Bitcoins in Sri Lanka is through Paxful. Paxful enables the Bitcoin enthusiast to connect with each other in order to undertake transactions. It is basically a peer-to-peer Marketplace similar to a broker but not a cryptocurrency exchange. Therefore, if anyone needs to buy Bitcoins in Sri Lanka they can simply select the number of Bitcoins and their payment method and the peer-to-peer Marketplace provided by Paxful would match the conditions with respective buyers or sellers and then it is up to the users to choose from the list of options provided by them. Paxful is one of the most reliable services that one can utilize in order to buy Bitcoins in Sri Lanka as their cryptocurrency wallet is highly secure and the funds can also be transferred to different wallets in a very easy manner.
One can also utilize the services offered by Coin.lk in order to buy Bitcoins in Sri Lanka. Even they are well known for reliability and robustness in the service. They offer a service of buying as well as selling Bitcoins, but Commission fee of 5% is charged whenever one needs to buy Bitcoins in Sri Lanka but interestingly no transaction fees are levied upon the users for selling Bitcoins. Coin.ik accepts only Bank deposits and claims to reflect the respective amount of Bitcoin within one hour in order to avoid price slippage issues. In order to buy Bitcoins in Sri Lanka, the users can simply reach out to the official website and follow the steps mentioned there.
The citizens can also buy Bitcoins in Sri Lanka by utilizing the services offered by Localbitcoins.com. Localbitcoins.com is very similar to Paxful, as it is also a peer-to-peer Marketplace which connects the buyers as well as sellers of Bitcoin throughout the world but preferably nearest to your location within the same country. The users need to select the type of payment, as well as the number of Bitcoins they need to buy or sell, then the Localbitcoins.com algorithm will search for the best buyer or seller matching those preferences within the same country. If available, the users can directly contact the other person and can undertake the transaction, it offers a variety of payment options to choose from including Bank transfers, net banking, and online payment methods like Paytm, PayPal, Amazon pay, etc also if the users are unsure about the payment method then there is also an option called ‘all online offers’.
As the whole cryptocurrency market is online in nature, the people who need to buy Bitcoins in Sri Lanka along with any other country for that matter need not rely upon anyone. However, investments in the cryptocurrency domain must be undertaken only after risk calculations. The citizens must not make investments in the Bitcoin unless and until they are willingly ready to lose the amount, as the Crypto market is the most unpredictable one. A consultation with a professional in the field is highly recommended.