Legal Crypto In Samoa

Cryptocurrency in Samoa: A Simple Guide

Can You Use Crypto in Samoa?

In Samoa, you can’t walk into a store and pay with Bitcoin—it’s not legal tender. The Central Bank of Samoa (CBS) doesn’t issue or regulate cryptocurrencies, so they’re in a bit of a legal gray area. It’s not against the law to use them, but the CBS warns they’re a risky investment with prices that can jump or crash fast. If you’re thinking about crypto, dig into it first and be ready for some volatility.

What Rules Do You Need to Follow?

If you’re looking to promote crypto in Samoa, you’ll need to get the CBS’s approval beforehand. This rule started in 2019 under the Money Laundering Prevention Act 2007. A 2018 update says promoters are treated like financial institutions, meaning you need a Samoan business license and have to follow anti-money laundering (AML) and Know Your Customer (KYC) regulations. If you don’t follow these, you could be hit with fines or even end up in jail.

Are There Any Bans?

In 2018, the CBS stopped all dealings with Onecoin, believing it was a scam dressed up as a cryptocurrency. They’re generally wary of crypto but are looking into blockchain to see if it can help more Samoans get access to banking and financial services.

What Laws Are in Play?

Samoa doesn’t have laws written just for crypto. Here’s what applies:

• Money Laundering Prevention Act 2007 and 2018 Amendment: Promoters need a license and must comply with AML/KYC rules.
• CBS Advisories: In 2017 and 2019, the CBS warned about crypto risks and required approval for promotion.
• Taxes: There’s no tax on crypto yet, but new rules might come, so stay tuned.

Where Can You Trade Crypto?

Samoa doesn’t have its own crypto exchanges, so you’ll need to use international platforms. Here are some solid options:

Exchange	Why It’s Great	How to Pay	Security Measures
Binance	350+ coins, 0.1% fees, P2P trading	Bank transfers, cards, P2P	2FA, SAFU fund, KYC
Kraken	Really secure, audited funds	Bank transfers, USD/EUR	2FA, cold storage, KYC/AML
Coinbase	Perfect for beginners, major coins	Bank transfers, cards	2FA, insurance, KYC
CoinEx	Low fees, regulated	Bank transfers, cards	2FA, KYC/AML
Paxful	P2P, no KYC option	Cash, bank transfers, wallets	Escrow, optional 2FA

Most platforms will ask for ID, like a passport. For safety, transfer your crypto to a personal wallet like MetaMask (online) or Ledger Nano S Plus (hardware) instead of leaving it on the exchange.

How Do You Buy Crypto?

You can buy crypto in a few ways:

• Bank Transfers (SWIFT): A secure way to send money to Binance or Coinbase.
• Credit/Debit Cards: Fast but more expensive on Coinbase or Binance.
• P2P Trading: Trade directly with others on Paxful, but be careful of scams.
• Bitcoin ATMs: Hard to find in Samoa—check Coin ATM Radar for any nearby.

Sign up, verify your identity, and turn on two-factor authentication (2FA) using a secure connection. Avoid public Wi-Fi to keep your account safe.

What’s DeFi Like in Samoa?

Decentralized Finance (DeFi) is pretty much nonexistent in Samoa because the local tech isn’t there yet. You can still use global platforms like Uniswap for trading, Aave for lending, or Compound for earning interest. You’ll need a wallet like MetaMask and some understanding of Ethereum. It’s risky—code can fail, and prices can drop fast—with no local rules to protect you.

Are NFTs a Thing in Samoa?

Samoa doesn’t have its own Non-Fungible Token (NFT) marketplaces. You can check out international ones like OpenSea, Rarible, or Foundation, but you’ll need a wallet like MetaMask and Ethereum to cover fees. NFTs can be a wild ride with lots of scams, and there’s no specific regulation in Samoa to back you up.

How Do You Stay Safe?

Here’s how to keep your crypto secure:

• Pick exchanges with 2FA and audited funds.
• Store your crypto in a personal wallet.
• Keep your private keys private—don’t share them.
• Avoid “get-rich-quick” schemes; the CBS flags these as trouble.
• Stay updated on CBS announcements for new rules.

Helpful Resources

Useful contacts and info:

• Central Bank of Samoa: www.cbs.gov.ws, (+685) 34100.
• Wallets: MetaMask (online), Ledger Nano S Plus (hardware).
• Laws: Money Laundering Prevention Act 2007, 2018 Amendment (check CBS website).
• Exchange Support: Binance (support.binance.com), Kraken (support.kraken.com), Coinbase (help.coinbase.com).
• Learning More: CoinDesk (coindesk.com), Ethereum.org.

What’s the Future for Crypto in Samoa?

Crypto’s still in its early days in Samoa, limited by a lack of tech and clear regulations. The CBS is curious about blockchain, so we could see new laws that encourage growth while keeping risks in check, especially to make financial services available to more people.