MTN Mobile Money is one of Africa’s most popular payment systems, with a user base of 63 million across 16 markets as of 2024. Since its launch in 2009, it has been an avenue for businesses and consumers to fulfill their payment needs. It does not end here. As an MTN user, you can use it to buy crypto. Wondering how? We shall show you how to do it safely. 

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Key takeaways

• Buying crypto on the Paxful marketplace using MTN Mobile Money is simple:
  • Create a Paxful account and complete the verification process.
  • Head to the marketplace and find Bitcoin offers
  • Choose a seller accepting MTN as a payment method.
  • Review the offer & terms.
  • Start the trade and make the payment; once the seller confirms payment, Paxful escrow will release crypto to your account.

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What is MTN Mobile Money?

Imagine managing your finances, paying bills, and even purchasing cryptocurrency from your mobile phone without a traditional bank account. MTN mobile money enables users to receive and store money straight from their phones. It operates similarly to M-Pesa, another widely used mobile money service in Africa.

👉A crypto beginner? Read this: Bitcoin For Beginners: A Guide for Early Traders

Can you use MTN Mobile Money to buy crypto?

Yes. Several platforms, including Paxful, now let you buy cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) using MTN mobile money.

💡MTN Mobile Money doesn’t directly support crypto purchases.

How to buy crypto with MTN Mobile Money on Paxful

If you’ve made the leap and want to purchase crypto via MoMo, here’s a step-by-step breakdown to get this fantastic process started:

• Create an account and complete the verification process: Once verified, you’ll receive a free wallet to store, transfer, and manage your crypto.

• Find offers in the marketplace: After you sign up and complete the verification process, you will be able to access the Paxful marketplace. You can buy Bitcoin(BTC), Ethereum (ETh), USDT or USDC. In the example below, we will show you how to buy Bitcoin (BTC). Next, go to the Buy Bitcoin page, select MTN Mobile Money, enter the amount you must spend, and click “Find Offers.”

• Choose a seller accepting MTN as a payment method: You’ll see a list of sellers who match your criteria. These sellers will appear in the following order: Other offers, Worldwide offers, and Promoted offers  (featured sellers). Select your preferred choice. Next, review a seller’s reputation based on trade history, feedback score, trade terms, etc. 

• Review the offer & terms: Click “Buy” to view the seller’s “Offer” page. Some sellers may ask for identity verification or require you to use your MTN MoMo account (not someone else’s).
• Start the trade and make the payment: If everything looks good,  accept the terms and click “Buy Now.” This opens a chat with the seller, where they will give further instructions on making the payment. Once the seller gives the go-ahead, click “Paid” to send the payment. While the trade is in progress, Paxful holds the Bitcoin in escrow for security. The Bitcoin is released from escrow into your Paxful wallet when the seller confirms the payment. 

💡Paxful moderators monitor chats, so keep all communication there in case of disputes

Why use MTN Mobile Money for crypto transactions?

Thinking about using MTN Mobile Money (MoMo) for crypto? Solid move. It’s not just another payment method—it’s a total game-changer for buying and selling crypto without the usual headaches.

Here’s why:

1. Widely accessible

MoMo makes crypto accessible to just about anyone. No bank account? No stress. It’s a lifeline for people in areas where traditional banking isn’t exactly a thing. 

2. It’s convenient

Buy, sell, and transfer money anytime, anywhere—from your phone. No bank queues, no paperwork, no-nonsense. Just quick, hassle-free transactions.

3. Secure transactions 

With PIN protection and encryption, MoMo keeps your money and data safe—no shady loopholes, no security nightmares—just peace of mind.

4. Lower fees

Traditional banking fees can be brutal. MoMo keeps it affordable, so you keep more of your money when buying crypto. And let’s be honest—who doesn’t love saving cash?

If you want an easy, secure, and budget-friendly way to trade crypto, MoMo’s got your back: no fuss, no stress—just smooth, reliable transactions.

FAQs: About MTN Mobile Money (MoMo)

1. Are there fees for using MTN Mobile Money to buy cryptocurrency?

The short answer is yes. Fees are part of the game. Each platform has its pricing quirk, so you’ll want to do a quick homework check. 

💡Pro tip? Peek the fee structure before diving in—no one likes surprise costs.

2. Is it safe to use MTN Mobile Money for crypto transactions?

Safety is all about being street-smart. Think of it like meeting a stranger online—you want to do your homework. Stick to P2P platforms with solid escrow services that act like a digital bodyguard for your transaction. Always scope out the seller’s track record: How many trades have they made? What’s the review for past trades?

💡 Remember: The crypto world has its share of sharks, so trust your instincts. If something feels off, it probably is.

3. How long does it take to complete a crypto transaction with MTN Mobile Money?

The short answer: It depends. P2P transaction is like an ice skate dance: You need both partners to move. Some deals zip through in minutes, while others crawl when the other person confirms. Patience isn’t just a virtue; it’s practically a requirement. On Paxful, each trade has a 30-minute window.

4. Are there limits on how much I can transact using MTN Mobile Money?

Limits are everywhere in the crypto ecosystem. They might come from:

• The P2P platform’s rules
• The specific trader you’re dealing with
• MTN Mobile Money’s restrictions

Bottom line? Always do a quick limits check before you start. Nothing kills the mood faster than being mid-transaction and hitting an unexpected wall.

5. Is MTN affiliated with Paxful?

MTN and Paxful operate independently. Paxful supports MTN MoMo as one of its 500+ payment options, but no official partnership exists.

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👉Additional readings

1. How to buy Crypto with Mpesa
2. What is GCash, and Can You Buy Crypto with It?