• About Us
  • Readers Write
  • Our People
Carthage Magazine
  • Home
  • Things to Do
    • Leisure
  • Food & Drinks
    • Taste Tunisia
  • People
    • Interviews
    • No Sugarcoating
    • Environment
  • Style & Travel
    • Attractions
    • Trip Planning
      • Travel Information
      • Hotels in Tunisia
      • Cost of Living
      • Tunisia’s Language
      • Tunisia’s Weather
      • Tunisia’s Currency
      • Tunisia’s Visa
    • Transport in Tunisia
      • Traveling Around
      • Local Transport
      • Flights to Tunisia
      • Ferries to Tunisia
      • Tunisia Overland
  • Local History
    • Museums
    • Monuments
    • Heritage Sites
    • Historical Figures
  • Education
  • Tech & Startups
  • Editors’ Picks
NewsTech & Startups

Tunisians Are Buying Bitcoin Despite Prohibitive Currency Regulations2 min read

By Contributing Editor May 7, 2021
Written by Contributing Editor May 7, 2021
Bitcoin in Tunisia

Tunisian crypto trading volume and exchange sign-ups increased gradually the first half of the year. All of this happening despite prohibitive banking laws and currency regulations.

Tunisian user registrations on U.K.-based cryptocurrency exchange CEX.IO rose 11% in the first 4 months of 2021 compared to the same period of the previous year.

According to the firm’s CEO, Konstantin Anissimov, bitcoin trading volumes in Tunisia on CEX.IO were also up more than 10% from December to April 2021, reflecting trends seen by other crypto platforms worldwide. CEX.IO is a regulated cryptocurrency exchange with over 3 million users worldwide, according to its website.

Suggested Read: Tunisia’s Currency – Tunisian Dinar | TND, Notes, Coins, Exchange Rate

“For Tunisia, the use of Bitcoin on our exchange for everyday purchases is not yet a reality but new user registrations are increasing constantly,” Anissimov told Carthage Magazine.

Bitcoin in Tunisia
Bitcoin in Tunisia
Legality of bitcoin by country as of 2021.

For peer-to-peer crypto trading platforms such as Paxful, the rise was also gradual. Public trading data shows volume on the platforms rose relatively steadily through 2020. On Paxful, new user registrations and trading volumes were up 20% between 2019 and 2020 in Tunisia, according to the firm’s Chief Growth Officer, Jan Strandberg.

Tunisia’s central bank continues to take a cautious approach due to the “speculative nature” of cryptocurrencies. It is worth noting that using Bitcoin is a bit controversial. Quite similar to some other regional countries, the country’s central bank has effectively issued a warning to investors. In this warning, the bank confirms this form of investment is not protected by their guidelines and investors are at risk of losing a lot of money.

Suggested Read: Find Out Why PayPal Does Not Work in Tunisia

The Central Bank of Tunisia has yet to issue a crypto licensing framework or guidelines. Nonetheless, in late April, local media reported authorities had arrested a young Tunisian man for owning of virtual digital currencies.

“There are no easy ways of purchasing crypto in Tunisia. So any volumes that we see of people buying Bitcoin is even more memorable given how difficult it is to acquire it,” H.A, Tunisian Entrepreneur 


If you would like to comment on this article or anything else you have seen on Carthage Magazine, leave a comment below or head over to our Facebook page.

And if you liked this article, sign up for the monthly features newsletter. A handpicked selection of stories from Carthage Magazine, delivered to your inbox.

0 comment
3
FacebookTwitterEmail
Contributing Editor

Contributing Editor account at Carthage Magazine. Tunisia's premier English general-interest Magazine with thousands of page-views per month and over 200,000 social media followers.

previous post
The Great Mosque of Kairouan — Islam’s Fourth Most Holiest Site
next post
MustLast: Politics and History Conversations with Louay Cherni

Related Articles

Fed Up with the Waste, Djerba Is Going...

July 3, 2022

Ons Jabeur Becomes the Highest Ranked African &...

June 28, 2022

Ons Jabeur Rises to New Career-High No. 3...

June 20, 2022

Tunisian Swimmer Nejib Belhedi To Swim 155 KM...

June 14, 2022

University of London Launches Strategic Partnership with University...

June 8, 2022

Tunisian Nadia Dhouib is Paco Rabanne’s New General...

March 18, 2022

Can Tunisia’s Vulnerable Economy Stand the Russian-Ukrainian War

March 13, 2022

Tunisian Military Planes Flying to Ukraine’s Neighboring Countries...

March 1, 2022

UAE’s YAML Program Empowers the Next Generation of...

February 17, 2022

Hannibal Mejbri Elected African Revelation of the Year

January 2, 2022

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Flavors of Tunisia

Taste-Tunisia-Tunisian-Cuisine-3

Want more top stories?

Carthage Magazine Newsletter

Sign up today and you’ll get our latest stories delivered straight to your inbox.

Quizzes

Quiz: How Well Do You Know African Countries...

QUIZ: Think You’re a Know-It-All? Try Naming These...

Just For You

  • 1

    Tunisia COVID-19 Entry Requirements: Latest Updates for Travelers | July 2022

    March 2, 2021
  • 2

    DNA Analysis: Only 4% of Tunisians Are Arabs

    December 30, 2019
  • 3

    Fed Up with the Waste, Djerba Is Going Plastic-Free

    July 3, 2022
  • 4

    Tales from the Past | Part III

    July 4, 2022
  • 5

    Tunisia’s Currency – Tunisian Dinar | TND, Notes, Coins, Exchange Rate

    June 7, 2021
  • 6

    Alcohol in Tunisia: What Visitors Need to Know

    August 2, 2021

Latest

  • Tales from the Past | Part III

  • Fed Up with the Waste, Djerba Is Going Plastic-Free

  • Ons Jabeur Becomes the Highest Ranked African & Arab Tennis Player Ever

  • Ons Jabeur Rises to New Career-High No. 3 After Winning Berlin

Sections

  • Editors' Picks
  • Education
  • Environment
  • Food & Drinks
  • Local History
  • News
  • No Sugarcoating
  • People
  • Quizzes
  • Real Estate
  • Style & Travel
  • Tech & Startups
  • Things to Do
  • Videos

E᙭ᑭᒪOᖇE

Carthage Magazine

We’re on a mission to create content that inspires people about experiences, places, products and people in Tunisia!

 

— About Us

— Adverstising

— Transparency

— Contact Us

Facebook Twitter Instagram Linkedin Youtube

ᗯᗩᑎT ᗰOᖇE TOᑭ ᔕTOᖇIEᔕ?

Carthage Magazine Newsletter

Sign up today and you’ll get our latest stories delivered straight to your inbox.

ᔕᑭᖇEᗩᗪ TᕼE ᗯOᖇᗪ

Spread the word

Our goal is to get these stories out in the public arena, and by doing this, keep promoting Tunisia and changing attitudes towards the MENA region.

 

— Ambassadors

— Readers Write

— What You Can Do to Help

EᗪITOᖇᔕ’ ᑭIᑕKᔕ

  • Tales from the Past | Part III

    July 4, 2022
  • Tales from the Past | Part II

    June 17, 2022
  • Boukha: Tunisia’s “Water of Life” Fig Liquor

    June 14, 2022

© 2019 - 2022 Carthage Magazine. Privacy Policy

Carthage Magazine
  • Home
  • Things to Do
    • Leisure
  • Food & Drinks
    • Taste Tunisia
  • People
    • Interviews
    • No Sugarcoating
    • Environment
  • Style & Travel
    • Attractions
    • Trip Planning
      • Travel Information
      • Hotels in Tunisia
      • Cost of Living
      • Tunisia’s Language
      • Tunisia’s Weather
      • Tunisia’s Currency
      • Tunisia’s Visa
    • Transport in Tunisia
      • Traveling Around
      • Local Transport
      • Flights to Tunisia
      • Ferries to Tunisia
      • Tunisia Overland
  • Local History
    • Museums
    • Monuments
    • Heritage Sites
    • Historical Figures
  • Education
  • Tech & Startups
  • Editors’ Picks
Carthage Magazine
  • Home
  • Things to Do
    • Leisure
  • Food & Drinks
    • Taste Tunisia
  • People
    • Interviews
    • No Sugarcoating
    • Environment
  • Style & Travel
    • Attractions
    • Trip Planning
      • Travel Information
      • Hotels in Tunisia
      • Cost of Living
      • Tunisia’s Language
      • Tunisia’s Weather
      • Tunisia’s Currency
      • Tunisia’s Visa
    • Transport in Tunisia
      • Traveling Around
      • Local Transport
      • Flights to Tunisia
      • Ferries to Tunisia
      • Tunisia Overland
  • Local History
    • Museums
    • Monuments
    • Heritage Sites
    • Historical Figures
  • Education
  • Tech & Startups
  • Editors’ Picks
© 2019 - 2022 Carthage Magazine. Privacy Policy

Read alsox

COVID-19: Countries Mobilize Help for Tunisia, Arab...

July 14, 2021

Tunisian Military Planes Flying to Ukraine’s Neighboring...

March 1, 2022

Tunisia Becomes First & Only Arab Country...

January 12, 2020