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How To Convert Hive To The Local Currency In Benin, CFA by joetunex

View this thread on: hive.blogpeakd.comecency.com
· @joetunex ·
$7.18
How To Convert Hive To The Local Currency In Benin, CFA
My biggest worry about moving to Benin is how to convert Hive to the local currency CFA since I am [currently](https://leofinance.io/@leoglossary/leoglossary-currency) fully dependent on Hive until a [job](https://leofinance.io/@leoglossary/leoglossary-job) comes up. 

Before departing South Africa I made a research on Hive conversion to CFA without success, which further increased my worry. 
 
Last week I found a way and made Hive withdrawals, it was a simple process, though some might find it cumbersome process, so in this article, I take us through the process. 

#### PAXFUL

My search for a means to convert Hive to CFA led me to Paxful, not wasn't an easy find, I found others that had scams written all over them, one being Symlix which I wasn't comfortable with. 

Paxful is a [peer-to-peer](https://leofinance.io/@leoglossary/leoglossary-p2p) [cryptocurrency](https://leofinance.io/@leoglossary/cryptocurrency) [marketplace](https://leofinance.io/@leoglossary/leoglossary-market), available in most parts of the world, and claims to have over 300 payment methods. That is a lot of payment methods, I am happy that the one I can use MTN Mobile Money (MOMO) is available for payment. 

![cfa.png](https://files.peakd.com/file/peakd-hive/joetunex/23t7DYsxSXHqnKZRwCmkHNaXK8s1TK8s7tWQRhsbhMabm6oeoP92W3iFrZs77N1U2yt4j.png)

#### MTN Mobile Money (MOMO)

Interestingly [banks](https://leofinance.io/@leoglossary/leoglossary-bank) are rarely used here in Benin, I have not seen an ATM since I arrived in the country, unlike South Africa where there are ATMs every +- 5km. 

I notice they use mobile [money](https://leofinance.io/@leoglossary/leoglossary-money) [payment](https://leofinance.io/@leoglossary/leoglossary-payment) here known as MOMO, powered by MTN the country's biggest Telecom network provider. 

All one needs to open a MOMO account is an MTN phone number and ID. So with everything being French and having to deal with translation often, I opened an account but don't know my password so I went to the MTN outlet for help and I was assisted. I was all set to use MOMO and couldn't wait to try it out. 

#### Hive To CFA

Following the discovery of Paxful and MOMO, it was time for Hive to CFA conversion. 

Firstly I withdrew [Hive](https://leofinance.io/@leoglossary/leoglossary-what-is-hive) to Binance where I sold it for USDT. 

Paxful supports [Bitcoin](https://leofinance.io/@leoglossary/leoglossary-bitcoin), [USDT](https://leofinance.io/@leoglossary/leoglossary-tether), and USD Coin so I opted for USDT. I created a Paxful account, had my [account](https://leofinance.io/@leoglossary/leoglossary-account) verified, and sent my USDT from Binance to Paxful. 

Since I can't withdraw less than $50 from Binance, I tested the process with just about $50. On Paxful I sold $20 worth of USDT for a trial. I chose the payment method I want which was MOMO.

After I initiated sell off my 20 USDT for CFA. I provided the [buyer](https://leofinance.io/@leoglossary/leoglossary-buy) with my MOMO number (phone number). 

In less than five minutes I receive an SMS confirmation for payment, in return I released the 20 USDT from [Escrow](https://leofinance.io/@leoglossary/leoglossary-escrow) for payment.  

MOMO charges 2.33% for [transaction fee](https://leofinance.io/@leoglossary/leoglossary-transaction-fee), the charges on Paxful from experience varies, my first [trade](https://leofinance.io/@leoglossary/leoglossary-trade) incurred $0.2 while the second trade was $0.51. 

The process turned out to be simple, though I am going to be on the lookout for another means. 

[What Is Hive](https://leofinance.io/@leoglossary/leoglossary-what-is-hive)

![image.png](https://files.peakd.com/file/peakd-hive/joetunex/EoprsdYtii9JCCfCJF1jHesZch4eqtwHcMKC5SB8uuK7nGQbb2hRLSo7uEpbj6ujwPu.png) 

***[We owe it to ourselves to make Hive great]()***

![image.png](https://files.peakd.com/file/peakd-hive/joetunex/KvZG9M7z-image.png)
*Image by @doze*

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@joetunex/how-to-convert-hive-to-the-local-currency-in-benin-cfa)
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πŸ‘Ž  
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vote details (157)
@beerlover ·
<div class='pull-right'>https://files.peakd.com/file/peakd-hive/beerlover/yiuU6bdf-beerlover20gives20BEER.gif<p><sup><a href='https://hive-engine.com/?p=market&t=BEER'>View or trade </a> <code>BEER</code>.</sup></p></div><center><br> <p>Hey @joetunex, here is a little bit of <code>BEER</code> from @joanstewart for you. Enjoy it!</p> <p>We love your support by voting @detlev.witness on <a href='https://vote.hive.uno/@detlev.witness'>HIVE</a> </a>.</p> </center><div></div>
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@dalz ·
This is an interesting situation. 
I hear about Paxful from a recent interview on the Bitcoin standard podcast

https://www.youtube.com/watch?v=MCKs27qBi_Y
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@joetunex ·
RE: RE: How To Convert Hive To The Local Currency In Benin, CFA
I am surprised that I don't know about Paxful until now, though I have not had to fully rely on Hive until now so that is probably why I never look for ways way to off-ramp Hive to fiat. 

So far it has been a good discovery for me. Thanks for the podcast link, will give it a watch. 

!PIZZA

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@joetunex/re-dalz-5nnvyh)
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@empress-eremmy ·
Benefits of holding crypto number 9999999...
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@joetunex ·
RE: RE: How To Convert Hive To The Local Currency In Benin, CFA
It is borderless πŸ˜ƒ

!PIZZA

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@joetunex/re-empress-eremmy-bt2is)
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@india-leo ·
Indiaunited Curation 1678811092859
This post has been manually curated by @bhattg from Indiaunited community. Join us on our [Discord Server](https://discord.gg/bGmS2tE). 

Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators. 

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@indiaunited ·
$0.02
Indiaunited Curation 1678811088863
This post has been manually curated by @bhattg from Indiaunited community. Join us on our [Discord Server](https://discord.gg/bGmS2tE). 

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vote details (1)
@jfang003 ·
RE: How To Convert Hive To The Local Currency In Benin, CFA
It's an interesting way to get around the system and I thought banks were around in most countries. So it's a surprise to hear that banks are very rare there.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-joetunex-3meg7t)
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@joetunex ·
RE: RE: How To Convert Hive To The Local Currency In Benin, CFA
I am quite surprised with the banks around here, I have to make inquiries about the banks and probably write about them but from my observation, they are rarely used. 

!PIZZA

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@joetunex/re-jfang003-5cxmka)
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@joanstewart ·
Handy information for people who travel in Africa or live here, Luno is very bank connected/orientated as is most of South Africa. Two to three steps has always been the case for us to convert which many in Europe or USA don't realize.

Nice update on how you managing Joe.

!BEER
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@joetunex ·
RE: RE: How To Convert Hive To The Local Currency In Benin, CFA
Perhaps Paxful might be of use in SA too, where one can do withdrawals through ewallet or any of the mobile money send, it is something I never knew when I was there. I am glad to have discovered this. 

Many thanks, Joan
!PIZZA

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@joetunex/re-joanstewart-6jkfx7)
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@joanstewart ·
If/When I have a minute I will take a look, surprised to learn how many new things you experiencing in the region.
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@josediccus ·
Wow, I know of paxful, I just didn't think about it as a possible solution when you asked me. But the process seems simple but somehow longer than I thought. Well, there might probably be better ways, I think overtime you'll discover it eventually.
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@joetunex ·
RE: RE: How To Convert Hive To The Local Currency In Benin, CFA
If you ask me I prefer it to the Luno I use in South Africa that takes me through the bank, with Paxful and the method of payment I choose the bank is excluded and that is what I want. 
I will explore more, this took me time, I will give it time and embark on research again for a second option.

!PIZZA

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@joetunex/re-josediccus-grsx9)
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@leo-fairy ·
I'm used to Binance but this one sounds good too. I think it doesn’t allow International trading like p2p all over the world. It sounds new. I'm glad that you get your 20 USDT in your momo wallet.  I'll rehive this informative post of I need someday. Thanks!  
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@joetunex ·
RE: RE: How To Convert Hive To The Local Currency In Benin, CFA
It is a p2p trading platform and you are most likely going to have it serve you in your region. Do check it out it, might be of service to you. 

Am grateful for the rehive

Some !PIZZA for you 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@joetunex/re-leo-fairy-5zpatu)
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@leo-fairy ·
Thank you,  I'll check it asap.
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@oadissin ·
Welcome to Benin
I am in Benin. I was born in Cotonou where I currently live. It is a pleasure to know that you are in Benin.
I would like to suggest to you the inner Binance app for P2P trade. It is possible to sell your Hive to USDT and then use the p2p trade to sell your USDT and receive CFA depending on the buyer's mode of payment. It is all free of charge in Binance. Local mobile money networks (Momo or Moov Money) can charge you just a fixed fee.
Hope to see in the City 
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@joetunex ·
Wow I missed this comment! Am so excited to know you are in Benin. When can we meet? I stay in Fidjrosse, Atlantic Beach. I don't know the place that much. Lol. We have to meet! πŸ˜ƒ
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@oadissin ·
Fidjrosse is not far from where I reside in Cotonou.
It will be great to meet you next Monday at any hour of your choice.
If you are not busy we can meet at a famous place in Fidjrosse close to your house and I will find my way to reach your location on a motorbike. 
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@oadissin ·
Here is my discord username
oadissin#2879
Please send the time and location as inbox messages.
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@pizzabot · (edited)
RE: How To Convert Hive To The Local Currency In Benin, CFA
<center>PIZZA! PIZZA! PIZZA! PIZZA! PIZZA! PIZZA! PIZZA! 


PIZZA Holders sent <strong>$PIZZA</strong> tips in this post's comments:
joetunex tipped josediccus (x1)
joetunex tipped practicaleric (x1)
joetunex tipped leo-fairy (x1)
@joetunex<sub>(6/10)</sub> tipped @joanstewart (x1)
joetunex tipped jfang003 (x1)
joetunex tipped empress-eremmy (x1)
joetunex tipped dalz (x1)


<sub>Join us in <a href="https://discord.gg/hivepizza">Discord</a>!</sub></center>
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@poshtoken ·
$0.06
https://twitter.com/177158254/status/1635658856431775745
<sub> The rewards earned on this comment will go directly to the people( @joetunex ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.</sub>
πŸ‘  
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vote details (1)
@practicaleric ·
That's quite simple bro. In Kenya paxful works very well too and so does binance. Once you have hive on binance,  you change it into BTC then sell the BTC for Kenya shillings - peer to peer. Our mobile money is called Mpesa. I used to use local bitcoins too but this year they have announced that they are closing down, the bear market took it's toll on them.
Thank you for sharing and keep enjoying your week :}
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@joetunex ·
RE: RE: How To Convert Hive To The Local Currency In Benin, CFA
It is a simple process bro and is glad to have found it. Thanks for sharing about Paxful in Kenya, it shows they are serving nations globally. 
Maybe when I visit Kenya someday I will make use of the Mpesa mobile money. 

Yes, I read up about Local Bitcoin shutting down, it is unfortunate considering they have been in business for a long. I used it in my early days of getting involved with Bitcoin. 

Have a great midweek bro.

!PIZZA

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@joetunex/re-practicaleric-6pcvqu)
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