How to convert Bitcoins in Algeria's Dinars ?

[painlord2k]

We are trying to find a way to pay people in Algeria with Bitcoins, but the main problem is to convert them in local currency.
What a surprise.

I know, for example, some people interested in paying consulting in Algeria with BTC (something around 4-5.000 € per month) and surely many workers in Europe have interest in sending money to their relatives if they could lower the costs of transaction.

Now, I'm open to suggestions, better if legal ones.  

My current train of thinking is about finding what algerians import from Europe.
If importers could pay with bitcoins a part or all of what they import, they would not need to convert dinars to € and they would have a reason  to buy bitcoins in exchange of Dinars from the local people.

It should works like this:

Algerians Workers in Europe send bitcoin to his family address
Family in Algeria sell bitcoins to a local exchanger in exchange of dinars
local exchanger send BTC to seller in Europe to buy stuff and bring it back in Algeria

I read, for example, some people coming back for visiting family buy a car (in France for example) drive it to Morocco or Algeria and then sell it locally.
Or people buying domestic appliance in Europe and bringing them back in Tunisia.

If we find a way, we could make happy a lot of people;  maybe not the government, but we can live with this.  

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[legitnick]

Why not find a member on the forums to send USD and you give them bitcoins. Once you recieve the USD go to a bank in algeria and exchange it. That should work.

[painlord2k]

Why not find a member on the forums to send USD and you give them bitcoins. Once you recieve the USD go to a bank in algeria and exchange it. That should work.

The point is to pay someone in Algeria from the EU using bitcoins without sending cash via wire transfer, mail or whatever and save the huge costs.
This is a regularly recurring event, not a single exchange.
The problem is for the receiving end to exchange bitcoin in the local currency to go at a grocery store and pay bills.
For this there must be a request for Bitcoins in Algeria from someone.
These ones must be able to exchange bitcoins for something they want and Bitcoin must be useful to them.

People importing goods in Algeria could find useful to use Bitcoins to buy in EU because they would be able to avoid to exchange dinars in € (and related taxes, documents, permits and so on).
They could pay for the stuff to be imported in directly in BTC or converting them in €.

[3btc]

I am sure someone will show up in the long run (to trade at "normal" exchange €/BTC-rates)...

...but it might help to offer a little bounty (let's say 1/3 of the normal fees, for example) and also I wonder:

How much are those fees to transfer Euro to Algeria (and possibly convert them in Dinars)?


PS: I thought so far the Hawala-system would be the weapon of choice to send money home but I guess it isn't, eh?
PPS: Just checked localbitcoins but nearest spot to algeria was over 1000km away...

[painlord2k]

I am sure someone will show up in the long run (to trade at "normal" exchange €/BTC-rates)...

...but it might help to offer a little bounty (let's say 1/3 of the normal fees, for example) and also I wonder:

How much are those fees to transfer Euro to Algeria (and possibly convert them in Dinars)?


PS: I thought so far the Hawala-system would be the weapon of choice to send money home but I guess it isn't, eh?
PPS: Just checked localbitcoins but nearest spot to algeria was over 1000km away...

I know.

You need using Western Union or likes. So the costs are not trivial and the time is considerable.
I do not know how much cost to convert Dinars to €, but I think this also will not be trivial.

[3btc]

WU says 24.90€ fee for 1000-5000€, which is not really that much, is it? Unfortunately, they have a crappy exchange rate (~3-5% less)

Considering bitcoin's fluctuation sending BTC could be a much greater loss...

[legitnick]

Unfortunatly I see wire transfers as the only way for this. Algerians are definitly not technical enough, and hardly any of the population own computers, best of luck.

[taltala]

thanks you.

[painlord2k]

Unfortunatly I see wire transfers as the only way for this. Algerians are definitely not technical enough, and hardly any of the population own computers, best of luck.

For what we are interested, a smartphone is enough.

[chems]

We are trying to find a way to pay people in Algeria with Bitcoins, but the main problem is to convert them in local currency.
What a surprise.

I know, for example, some people interested in paying consulting in Algeria with BTC (something around 4-5.000 € per month) and surely many workers in Europe have interest in sending money to their relatives if they could lower the costs of transaction.

Now, I'm open to suggestions, better if legal ones.  

My current train of thinking is about finding what algerians import from Europe.
If importers could pay with bitcoins a part or all of what they import, they would not need to convert dinars to € and they would have a reason  to buy bitcoins in exchange of Dinars from the local people.

It should works like this:

Algerians Workers in Europe send bitcoin to his family address
Family in Algeria sell bitcoins to a local exchanger in exchange of dinars
local exchanger send BTC to seller in Europe to buy stuff and bring it back in Algeria

I read, for example, some people coming back for visiting family buy a car (in France for example) drive it to Morocco or Algeria and then sell it locally.
Or people buying domestic appliance in Europe and bringing them back in Tunisia.

If we find a way, we could make happy a lot of people;  maybe not the government, but we can live with this.  

Hello there, I am roughly a year late but I was doing some research online and I stumbled on your post. I am currently in Algeria and I completely understand what you mean by there exists a need for BTC in Algeria. The biggest hurdle would be the Gvmnt, given the various importing laws that exist here. For one there is something called "credit documentaire" which is basically how importers get money out of the country :
You give the money to the natioanl bank which then sends it to the person you are importing from.
This was put in place to limit the amount of trafficking that was taking place and somehow limits many people.

Back to BTC, I want to know how much of a demand there is outside of Algeria to get BTC in Algeria. I am interested in dealing with such a system as you said it is much more flexible than traditional banking.

[painlord2k]

From the last year a lot of technological innovations happened.

I would suggest people interested in buying bitcoin in Algeria should set-up a Mycelium Wallet and list themselves as local buyers of bitcoins in exchange for dinars.
Also set-up a LocalBitcoin account and list themselves are bitcoin buyers.

I suppose there are a number of people interested in acquiring bitcoins in Algeria as an edge against inflation AND/OR capital controls.
It is a way to internationalize, be more resilient to local disturbances and be able to send money abroad (to relatives/friends) or spend money when abroad.

The prerequisites are the availability of an internet connection.

One interesting possibility, if a shop owner is interested in taking bitcoins, is to have someone in Algeria to shop there and someone in France (for example) to pay for the shopping of the first.
If the addresses are known in advance it will be better/faster.
Given the network features, the transaction would be seen in just few seconds in Algeria even if it was originated in France.

[matum]

We want to buy btc by Dinnar in Algeria. Our company needs to send $30.000 dollars to Turkey per month. If someone wants to sell btc, we are ready to buy it according to bitstamp exchangerate. even if it is a small amount of btc we can convert it. People who wants to convert their btc, they will get their money by cash as soon as possible.

[Htcream]

We want to buy btc by Dinnar in Algeria. Our company needs to send $30.000 dollars to Turkey per month. If someone wants to sell btc, we are ready to buy it according to bitstamp exchangerate. even if it is a small amount of btc we can convert it. People who wants to convert their btc, they will get their money by cash as soon as possible.

still need bos ?

[matum]

yes we need. we found some to exchange but not enough for now

[MadGamer]

yes we need. we found some to exchange but not enough for now

If you are Algerian , then contact this person here : http://djelfa.info/vb/member.php?u=174660
He is the admin of the the forums and their forum costs more then 1 million dolllar . anyway contact him , He is interessted to buy Bitcoins via CCP or Banks  transfer in Algeria .

I made a lot of deals with him using PayPal & Payoneer MasterCard

[matum]

yes we need. we found some to exchange but not enough for now

If you are Algerian , then contact this person here : http://djelfa.info/vb/member.php?u=174660
He is the admin of the the forums and their forum costs more then 1 million dolllar . anyway contact him , He is interessted to buy Bitcoins via CCP or Banks  transfer in Algeria .

I made a lot of deals with him using PayPal & Payoneer MasterCard

We do not sell bitcoin, i think your friend wants to buy, right? we also want to buy bitcoins

[MadGamer]

yes we need. we found some to exchange but not enough for now

If you are Algerian , then contact this person here : http://djelfa.info/vb/member.php?u=174660
He is the admin of the the forums and their forum costs more then 1 million dolllar . anyway contact him , He is interessted to buy Bitcoins via CCP or Banks  transfer in Algeria .

I made a lot of deals with him using PayPal & Payoneer MasterCard

We do not sell bitcoin, i think your friend wants to buy, right? we also want to buy bitcoins

I guess he both sell & buy Bitcoin for Algerian Dinar go try  & ask him .

[matum]

yes we need. we found some to exchange but not enough for now

If you are Algerian , then contact this person here : http://djelfa.info/vb/member.php?u=174660
He is the admin of the the forums and their forum costs more then 1 million dolllar . anyway contact him , He is interessted to buy Bitcoins via CCP or Banks  transfer in Algeria .

I made a lot of deals with him using PayPal & Payoneer MasterCard

We do not sell bitcoin, i think your friend wants to buy, right? we also want to buy bitcoins

I guess he both sell & buy Bitcoin for Algerian Dinar go try  & ask him .

I do not know arabic but i will check it with our interpreter, thank u

[WeeklyPonzlV3]

go to an exchange, buddy

[matum]

that's what i m looking for