Complicated to buy or sell Bitcoin in Morocco! Indeed, this Maghreb nation has put in place the most stringent legislation in the area of cryptoactives.
Fortunately for cryptocurrency enthusiasts, there are still a few valid options for acquiring or selling bitcoins or other cryptocurrencies, especially from private to private.
Tough policy to counter Bitcoin
From 2017, the Moroccan regulator rules on Bitcoin and the other cryptoactive: it will be a big no! By the voice ofMoroccan Exchange Office, financial gendarme of the kingdom, a ban is made on any crypto transaction on Moroccan territory (offenses are punishable by 5 years in prison and heavy fines!).
Morocco thus joins the club of nations having decided that it was better to immediately muzzle any dissemination of these exotic financial assets, lest they destabilize the national economic system.
And yet … a report in late 2018 by the well-known peer-to-peer cryptocurrency exchange site LocalBitcoin highlighted a very different reality: In the list of countries with the highest volumes of transactions, Morocco found itself at a very honorable 36th place, ahead of Denmark, and even Japan!
Better yet, the Cherifian kingdom is downright the 3rd Arab country according to these same criteriabehind theSaudi Arabia and the United Arab Emirates !
A new illustration in line with the saying that “We don’t disinvent powder” and which demonstrates how, by its very nature, Bitcoin is playing with hindrance attempts …
Buy Bitcoin in Morocco
You understood it, for lack of an official platform and in view of a strict policy, the options for buying Bitcoin in Morocco will go largely through solutions from individual to individual.
That’s good, it is particularly respectful of the genetics of the famous decentralized cryptocurrency: a seller, a buyer, 0 intermediaries (even if in fact it is particularly difficult to do without any intermediary, if only in the context of linking supply and demand).
Discussion forum and social networks
If the forum Bitcointalk Unfortunately, there is no national section dedicated to Morocco, citizens of this Arab nation can usefully attend the “Arabic” section of the forum.
In this space, members will be able to agree to sell, buy or trade Bitcoin or any other cryptoactive, over-the-counter. Be careful, however! Only deal with members with a good reputation and do not save yourself the cost of seeking the services of a Trust Tier (or ” Escrow In English, even if the term sounds strange in this context!).
This Trusted Third Party will guarantee you a secure transaction by sequestering the amount of the transaction, the time of payment and by ensuring that the conditions of the contract concluded between the parties are fully fulfilled.
LocalBitcoin, the “Good Corner” of Bitcoin
We mentioned it a little earlier, LocalBitcoin is a benchmark solution for Bitcoin transactions between individuals. Founded in 2012, the site quickly established itself as a benchmark in the community.
A quick look at the results for the query ” Morocco “Will convince you that the offer exists!
On its official website, the platform looks like this:
“LocalBitcoins is a person-to-person bitcoin exchange service. We are a platform where users can buy and sell bitcoins with each other. Users, called traders, create offers by indicating the price and the means of payment they wish to offer. You can browse our site for offers to buy or sell and find the payment method of your choice. You will find traders buying and selling bitcoins online with more than 60 different payment methods. “ LocalBitcoin Frequently Asked Questions
LocalBitcoin acts as a Trusted Third Party between Buyers and Sellers : Bitcoins are only released once the seller has confirmed receipt of funds from the buyer.
The solution provided by LocalBitcoin is therefore particularly well suited for Moroccans wishing to buy / sell Bitcoin on their territory, despite local constraints. It will simply be noted that the fees are often slightly higher than for purchases on exchange platforms or brokers as Kraken for example.
Buying, selling, exchanging Bitcoin in Morocco is far from being “Mission Impossible”! Our Moroccan friends will simply be subject to particular constraints and a lack of ergonomics in transactions.
There is a positive aspect in this somewhat complicated situation: in Morocco, managing to buy or sell Bitcoin is probably closer to the ideal of a currency without intermediaries, exchangeable between individuals, such as Satoshi Nakamoto surely dreamed!
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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