Algeria is one of the few places where the question of how to get cryptocurrency has to begin with the law rather than with an exchange sign-up form. Cryptocurrencies are banned under Algerian law, so before looking at the mechanics of buying bitcoin or any other digital asset, it is worth understanding exactly what that ban says and what it means for anyone in the country.
Is cryptocurrency legal in Algeria?
No. Cryptocurrencies are currently banned under Algerian law. The 2018 Financial Law of Algeria prohibited the use of any cryptocurrencies, and more recent legal analysis reports that Law No. 25-10 criminalizes all crypto ownership, use, and mining. In other words, the prohibition is not limited to banks or businesses: owning, using, or mining cryptocurrency is itself against the law in Algeria.
That legal position frames everything else on this page. The sections below explain how cryptocurrency purchases generally work and what various platforms advertise, but none of it changes the fact that Algerian law prohibits owning or using crypto.
Steps to buy cryptocurrency
In countries where cryptocurrency is permitted, the standard route runs through a crypto exchange and follows the same basic sequence:
- Create an account with an exchange. This is the platform where fiat money is swapped for digital assets.
- Complete the KYC verification process. Exchanges verify the identity of new customers before allowing trading.
- Make a fiat deposit. Fund the account with ordinary currency.
- Buy cryptocurrency. Place an order for bitcoin or another asset.
- Send your bitcoin to a personal wallet. Moving coins off the exchange puts them in a wallet you control rather than one the platform controls.
Which platforms claim to serve users in Algeria?
Several platforms market themselves to Algerian users. These descriptions come from the platforms themselves or from exchange listings, not from independent testing, and the legal prohibition above still applies.
- Changelly — an exchange listing states that Changelly allows users to exchange one cryptocurrency for another and to buy with a bank card, with trading fees of a 0.25% service fee plus network fees.
- Bitmama — describes itself as a peer to peer (P2P) crypto trading platform that supports different payment methods for buying bitcoin in Algeria.
- LocalCoinSwap — says users can register, receive a free bitcoin wallet, and buy bitcoin in Algeria.
Local discussion reflects how seriously Algerian users take the ban. A Reddit thread on crypto enforcement in Algeria advises readers never to use cards issued by Algerian banks — BaridiMob, CCP accounts, or Algerian-issued Visa cards — to buy crypto directly. That is anonymous forum advice rather than legal guidance, but it shows how cautious local users are about the prohibition.
Which countries do not allow crypto?
Algeria is not alone. Other countries where bitcoin has been reported as illegal include:
- Bahrain
- Burundi
- Cameroon
- Gabon
- Georgia
- Guyana
- Kuwait
Where is bitcoin legal — or even legal tender?
At the other end of the spectrum, El Salvador became the first country in the world to introduce bitcoin as legal tender. The Central African Republic then overtook regional cryptocurrency front-runners such as Kenya and Nigeria to become the first nation on the continent to officially adopt bitcoin as legal tender — El Salvador remains the only other country that officially uses bitcoin this way. Elsewhere in Africa, Uganda has been weighing the idea of a central bank digital currency, a sign of steadily growing interest in cryptocurrency across the continent.
In much of the developed world, bitcoin is legal to own and trade. It has been legal in the United States, Japan, and the United Kingdom, although the UK’s Financial Conduct Authority (FCA) banned the sale of crypto derivatives and exchange-traded notes (ETNs) to retail investors. Rules vary widely elsewhere:
- India taxes crypto investors and deducts tax at source on trades, but it has not regulated cryptocurrencies and does not plan to legalise them.
- Dubai enacted a law on the regulation of virtual assets and established the Dubai Virtual Assets Regulatory Authority (VARA).
- Portugal treats proceeds from selling crypto as tax free; crypto trading is not considered investment income there, and provided you are not operating as a business, crypto is also exempt from VAT and income tax.
- Saudi Arabia allows individuals to purchase and spend bitcoin without restriction, while banks are banned from dealing with the cryptocurrency.
Do banks accept cryptocurrency?
Many people see crypto as a threat to the traditional financial industry, yet some banks are crypto-friendly. Ally Bank, for example, is one of the most bitcoin-friendly banks in the US: it allows customers to link their accounts to Coinbase and purchase crypto with their Ally debit cards.
How do you cash out cryptocurrency?
To cash out, you first sell your cryptocurrency for cash, then either transfer the funds to your bank or buy more crypto. Centralized exchanges such as Coinbase, Binance, Gemini, and Kraken can turn bitcoin into cash: choose the coin and the amount you would like to sell, agree to the rates, and the cash becomes available to you. There is no limit on the amount of crypto you can sell for cash, although cashing out a massive position is usually handled through a third-party broker, over-the-counter trading, a third-party trading platform, or peer-to-peer trades, and large cash-outs can run into daily withdrawal restrictions.
What is the best crypto wallet?
Widely recommended wallets include Exodus for beginners, Electrum for advanced bitcoin users, Mycelium for mobile users, the Ledger Nano X as a hardware wallet, the Trezor Model T for security, and the Ledger Nano S as a budget-friendly hardware option. Whichever you choose, the purpose of a personal wallet is the same: it keeps your coins under your own control instead of leaving them on an exchange.
Who created bitcoin — and who owns the most?
Satoshi Nakamoto is the pseudonym for whoever penned the original bitcoin whitepaper and is the identity credited with inventing bitcoin. Several people have claimed to be, or were thought to be, Satoshi, but their true identity has never been verified or revealed. Nakamoto is also widely acknowledged to hold the most bitcoin, a stash believed to have gone untouched over the years, which has fuelled theories about their identity and situation. Among known individuals, Changpeng Zhao — founder and chief executive of Binance, the world’s largest cryptocurrency exchange by trading volume — is often described as the richest crypto billionaire.
The bottom line
The mechanics of getting cryptocurrency — open an exchange account, verify your identity, deposit money, buy, and withdraw to a personal wallet — are broadly the same everywhere. In Algeria, however, the law comes first: the 2018 Financial Law prohibited the use of cryptocurrencies, and Law No. 25-10 criminalizes ownership, use, and mining. Anyone in Algeria looking at the platforms that advertise to the country should consider that legal reality before anything else.
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