This guide shows you where to buy and sell bitcoin in Nicaragua through P2P exchanges, exchange houses specialized in trading, and groups on social networks. The options you will find in Nicaragua are perfect for you, whether you are a resident of the Central American country or a traveler and will only be there for a season.
According to its GDP per capita, Nicaragua is one of the smallest economies in all of Latin America. However, a possible increase in exports and the volume of remittances could mitigate the effects of poverty and the crisis generated by the pandemic.
Only two years ago, it was reported that the impulse had acquired bitcoin in Nicaragua thanks to tourism. Currently, that situation has been reversed by the pandemic. In contrast, a community of local bitcoiners has been growing, as evidenced by the country’s most active social media groups.
- Cryptocurrency brokers in Nicaragua
- Buy and sell bitcoin in Nicaragua without intermediaries (social networks)
P2P exchanges to buy and sell bitcoin in Nicaragua
The exchanges P2P offer you a digital platform to buy or sell bitcoin in Nicaragua directly with other merchants. Through these exchanges, you can make exchanges with various payment options, which include bank transfers with cordobas (NIO), PayPal, Neteller, Zelle, Moneygram, or gift cards from Amazon. You have to look for the ad that best suits you in the exchange you choose or post one with your offer.
In Nicaragua, you can access P2P exchanges that offer different options to manage your cryptocurrencies. For example, those that provide guarded wallets have relative control of the private keys of your cryptocurrencies. Some platforms also have the possibility of creating wallets from scratch or linking external wallets, which will allow you to have different levels of security.
Check out these 5 P2P cryptocurrency exchanges that offer different levels of privacy and security to make exchanges directly between merchants.
Consider that several of these exchanges allow trading with smart contracts or, what is the same, deposit guarantees ( escrow ).
LocalBitcoins
LocalBitcoins emerged in 2012 as a P2P platform that allows bitcoin traders to meet on an exchange network with a presence in more than 180 countries. Through this exchange, you can search for ads to buy or sell bitcoin from other merchants in Nicaragua or create your own. In LocalBitcoins, you can get bitcoins through PayPal, Amazon gift cards, bank transfers with córdobas, Moneygram, and many other options.
- Cryptocurrencies and fiat currencies: BTC/NIO.
- Commissions: 1% of the amount traded in each announcement of purchase or sale/transfers between LocalBitcoins wallets do not charge commissions / external wallet deposit 0.00015 BTC; shipments to external wallet 0.00005 BTC.
- Trade volumes: It is currently low, but there are always traders connected.
- Mobile App: Expected for 2021.
LocalCryptos
LocalCryptos is an exchange P2P that began operating in 2017 as LocalEthereum until the company took a broader approach. Now they have traded in several cryptocurrencies and allow operations in over 100 countries.
Through these exchanges, it is possible to create A wallet from scratch to safeguard your cryptocurrencies or link others, such as Ledger, MetaMask, or Trust, which will allow you to log in without entering a password or username. Here you have the option to import your reputation from LocalBitcoins and Paxful.
- Cryptocurrencies and fiat currencies: BTC, ETH, LTC, DASH / NIO.
- Commissions: 0.25% to whoever publishes ( maker ) and 0.75% to the person who responds to the offer ( taker ).
- Trade volumes: 100 BTC and 6,000 ETH stored in LocalCryptos wallets (mid-2020).
- Mobile App: Does not have.
Paxful
Paxful is an exchange P2P that started operations in 2 015 and already has more than 3 million registered cryptocurrency wallets. This exchange focused on commerce between people allows you to buy or sell bitcoin in Nicaragua through ads and offers you can create yourself. This platform accepts numerous payment methods, such as PayPal balance, Amazon gift cards, Western Union, bank transfers with córdobas, and many more options.
Through this exchange, USD 40 million have been exchanged weekly, in global terms, since May 2020, according to CoinDance.
- Cryptocurrencies and fiat currencies: BTC / NIO.
- Commissions: 0.5% for sale with a bank transfer. 1% for other methods.
- Trade volumes are low currently, but there are constant exchange announcements.
- Mobile App: Click here for Android and here for iOS.
Centralized exchanges for the sale of BTC in Nicaragua
The centralized exchanges (CEX) are digital environments where you can buy and sell bitcoin in Nicaragua and trade cryptocurrencies with automated tools. These exchanges allow you to access digital desktops to schedule operations and evaluate the status of the different cryptocurrency markets.
With centralized exchanges, you will have options to do staking, leverage, trade cryptocurrency loans on DeFi markets, or invest in bitcoin futures contracts. These platforms have guarded wallets (since they manage the private keys) but have greater market liquidity due to their currently higher trading volumes.
Binance
Binance is an exchange that emerged in 2017, and It already brings together 36 million traders worldwide. Here you will not be able to buy directly with córdobas. Still, if you have accounts in dollars or already have cryptocurrencies, you can transfer to Binance and exchange for other cryptocurrencies or use their trading tools. You can make staking, margin trading, OTC operations, loans investments, and derivatives purchases.
The Binance exchange has a digital desktop to automate operations and analyze the market minute by minute. You can download this tool on MAC and Windows operating systems (in their previous versions) and Linux systems.
- Cryptocurrencies and fiat currencies: BTC, ETH, LTC, BCH, XRP, +185 / USD.
- Commissions: For trading, there are 9 levels: free deposits and various commissions for other operations.
- Trade volumes: 1.6 billion BTC / over $ 92 billion, according to CoinMarketcap (global).
Coinbase
Coinbase is an exchange that began operations in 2012. It already has more than 30 million users in more than 100 countries. In this exchange house, you will not be able to buy or sell bitcoin directly if you are in Nicaragua, but you can make cryptocurrency conversions. You have to anchor a purse, and that’s it.
- Cryptocurrencies and fiat currencies: BTC, ETH, XRP, USDT, +15 / cryptocurrency conversion only.
- Commissions: 1.49% on purchases and sales / 3.99% on credit cards/others depending on the type of operation.
- Trade volumes: Coinbase Pro 91,743 BTC / over $ 4.2 billion, according to CoinMarketCap.
- Mobile App: Click here for Android and here for iOS.
Cryptocurrency brokers in Nicaragua
Brokers are companies (or individuals) that help a seller and a buyer to negotiate. Brokers, or stock brokers, specialize in CFD markets for its acronym in English, which are those that operate with differential contracts. That is, people buy a contract, and after a while, the seller pays the difference in value that the cryptocurrency that serves as a reference could have acquired (and, if the cryptocurrency falls in price, it is the seller who owes to pay that difference).
Differential contracts or CFDs are not used to buy or sell bitcoin or another cryptocurrency directly. They are only used as a reference for the value of the traded contract.
The brokers that operate in Nicaragua with this specific method are AvaTrade, Admiral Markets, and BDSwiss; all of Them have specialized tools to monitor the market and mobile applications for you to operate from your phone or tablet.
Some brokers operating in Nicaragua accept deposits with bitcoin to perform trading. Among them are Broker CEX.io, which allows leverage of up to 100X, margin trading, spot trading, and loans. It is in the beta phase and is a business branch of the exchange house of the same name.
There is also Prime XBT, which has applications for mobile phones and a wide variety of financial products to trade with BTC, ETH, LTC, and EOS and admit deposits with bitcoin directly.
Buy and sell bitcoin in Nicaragua without intermediaries (social networks)
In Nicaragua, there is a bitcoin community with activity on social networks. In these Facebook groups or Telegram channels to buy or sell bitcoin, people agree with each other to make exchanges.
In social networks, you can agree with another person, hang up deals or find someone who sells what you want. It is not very complicated, beyond finding the right offer. The important thing is to verify the reputation of your counterpart.
On Facebook, you will find the Bitcoin Nicaragua group, which has been in business for years and has 597 members. The flow of posts here is sporadic, but its merchants are often looking for potential scammers. There is another group called Criptomonedas Nicaragua, which has almost 400 members and a frequent activity of merchants who constantly hang posts that discloses information about trading. If you keep looking, you will probably find more groups that disclose or are managed by a single trader.
