Is Bitcoin Legal In – Algeria?


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Is bitcoin legal in Algeria?

Illegal. ❌

Unfortunately, the 2018 Financial Law of Algeria has prohibited the purchasing, sales, usage, and holding of bitcoin or any other cryptocurrencies.

This applies whether you’re from Algiers, Oran, Constantine, Annaba, or whatever Algerian city.

Where can I buy or sell bitcoin?

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Unfortunately, since bitcoin and cryptocurrencies are illegal in Algeria, you could either wait until they hopefully become legal in Algeria sometime in the future, or buy them outside of the country.

If you ever visit or more to a bitcoin-friendly country, you can buy or sell bitcoin on free and reputable platforms such as LocalBitcoins using your preferred currency and preferred payment method.

Though LocalBitcoins is a great platform, always make sure to only transact people with high feedback scores, and with a good number confirmed number of trades.

Where can I trade cryptocurrencies?

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If you’re planning on trading other cryptocurrencies besides bitcoin, like Ethereum (ETH), Ripple (XRP) and Litecoin (LTC), or whatever your favorite cryptocurrency is, you can do so through secure and reputable platforms like Binance.

Where do I store my bitcoin and cryptocurrencies?

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If you only have small amounts of your money on bitcoin and cryptocurrencies, you can use mobile software wallets such as BRD or Coinomi.

On the other hand, if you have a good amount of your money invested in bitcoin and cryptocurrencies, we heavily suggest storing your funds on a good hardware wallet for your funds to be as secure as possible.

Please take the security of your funds seriously. For more information on bitcoin and cryptocurrency wallets in general and how secure or unsecure they are, please refer to CryptoSec’s definitive guide to bitcoin & cryptocurrency wallets.

Risks

Volatility

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Take note that while you can make a lot of money by trading and investing in bitcoin or cryptocurrencies, you could also lose a lot of money. Bitcoin and cryptocurrencies are heavily volatile assets in terms of price so trade with caution.

Scams

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There are a lot of scams in the bitcoin and the cryptocurrency space due to the pseudonymous nature of most if not all cryptocurrencies. Always think twice when sending in money, typing in your login credentials on websites, and when responding to unsolicited messages.

We heavily suggest learning about bitcoin & cryptocurrency scams to prevent yourself from falling for them.

Some links and sources


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