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How to buy Ethereum in Tanzania

Tanzania
Ethereum

For more than ten years, users have witnessed the emergence of blockchain technology and various cryptocurrencies, including Ethereum. Many countries around the world have not yet adopted or started using these currencies. In this regard, the head of Tanzania called on the country's central bank to research the digital assets due to their growing influence on the global financial market.

Since the cancellation of the current directive in 2019, Ethereum is one of the most popular currencies in Tanzania due to its affordability and ability to work.

How to buy Ethereum on Itez:
step-by-step instruction
1.

In order to buy Ethereum, it is not necessary to register on the Itez website. In a handy calculator, you can quickly calculate the cost of ETH based on the amount you plan to use for payment. The smallest purchase amount in dollar terms is 30 USD. By the way, the same applies to the euro - the starting purchase threshold starts at €30. Well, in our instructions, as promised, we will go through all the stages of purchase ETH for dollars step by step.

2.

After converting the currency to ETH, you will see the final result in the "You Get" field and on the "Buy" button. Click the button and enter your email address in the following window.

3.

Confirm your email with a 6-digit code sent to the previously indicated e-mail and click the "Verify" button.

4.

Specify the purchase amount in the Itez dialog box. Copy the recipient address - your Ethereum wallet - from the “Accept” section.

Important: you should not manually copy the Ethereum wallet address. The blockchain system does not give any information about Ethereum addresses problems, and if an error occurs during manual entry, all the buyer's funds may be lost.

For example, this is how the copy address button looks like in the Exodus wallet:

5.

After copying the Ethereum wallet address, paste it into the dialog box.

Check your data — it is important to make sure that the address is entered correctly.

6.

After pushing the “Card details” button, enter the required card information: card number and expiration date, the cardholder name and CVC-code — three numbers on the back of the card.

7.

Push the “Pay” button and enter the one-time bank code in the following window. As soon as the transaction receives 6 confirmations in the blockchain network, your bitcoin wallet balance will be top-up.

Important: the transaction will wait for confirmations for time. After six network confirmations, Ethereum will be on your e-wallet; when buying with Itez it will take for about 15 minutes. This is a very good speed for the Ethereum network since transactions in the most popular blockchain network are somewhat slower than in other networks due to its properties and high load.

8.

The transaction will first wait for confirmations from the blockchain network.

In the Etherium network, confirmation is quite fast and in most cases takes no more than a minute.

Banks

Bank of Tanzania is the most popular bank in the country. This bank is a Tanzanian shilling issuing bank and the first bank to support digital currency policies in the country. Major African banks also include the Standart Bank Group, Standart Bank of Africa, ABSA Group and FirstRandGroup, which are leaders in the financial sector.

Bank cards

Tanzania is one of the countries where mobile operators have defeated banks and almost completely pushed them out of the payments market. In addition to payment systems Visa and MasterCard, the user can use such a mobile operator. There are six mobile money operators in Tanzania, among the largest are M-Pesa, Tigo Pesa and Airtel Money.

How to store Ethereum

To protect and preserve cryptocurrency, users use the electronic wallets. Since Ethereum is a major digital currency, there are many such wallets developed. Here are the main ones: Blockchain.com MyEtherWallet; Trust Wallet; Mist; Ledger Nano S; Jaxx; Metamask; Atomic Wallet.