Best Bitcoin Exchange for Guinea
Guinea has been in a state of domestic political and humanitarian crisis for years. A trip to Guinea is currently recommended only for urgently needed medical or development staff, as the country is dominated by open, bloody gang wars, is largely out of control domestically, and there are still cases of the Ebola epidemic today.
Against this background, a travel description of this paradisiacally situated country reads almost grotesquely: lonely sandy beaches lined with palm trees and clear water offer the possibility in times of peace to let your soul dangle to your heart’s content and to enjoy the solitude away from the tourist masses. The former fishing village of Conraky is much more lively. Today, the former village is the country’s largest city and its capital.
In addition to the National Museum, which mainly exhibits African art objects, it is worth visiting the Faysal Mosque, which is also the largest mosque in western Africa. The Fouta-Djalon plateau offers a breathtaking view of the surrounding landscape. In the Guinée Forestière National Park there is the possibility to observe forest elephants at close range. If you are not lucky that day and spot the pachyderms, you can alternatively walk along the elephant paths through the rainforest.
It is indispensable to inform yourself before the journey about the cash supply and payment modalities on the spot. Since for security reasons it is not recommended to take the entire travel budget as cash with you, it is necessary to take care of the cash supply or suitable means of payment in time in order to be able to supply yourself with the necessary amount of local currency during your stay in Guinea. The following article contains information on this and much more about cash supply, acceptance of money cards, exchange of euro into national currency, cashless payment, as well as some important tips for the safe handling of funds in Guinea.
Guinea-Franc (GNF) – the national currency
The national currency and official currency of Guinea is the Guinea franc, divided into 100 centimes.
Guinea franc is available in coins and banknotes, the denominations of which are shown in the table below:
- Coins: 1, 5, 10, 25 Guinea franc
- Notes: 100, 500, 1000, 5000 Guinea franc
The import and export of the national currency is prohibited. Foreign currency, on the other hand, can be imported without restriction, but is subject to declaration. The export is limited to the amount declared upon import.
Changing money in Guinea
It is not necessary to exchange the currency for the national currency before the start of the journey, as the import of the Guinea franc is prohibited. However, there are exchange facilities in Guinea in some hotels and at the major banks in the country. Banks are usually open from Monday to Friday morning between 08:30 and 12:30 and in the afternoon between 14:30 and 16:30.
It is essential that you keep the exchange and redemption receipts so that you can present them on request when leaving the country. It should also be ensured that the amounts of the money exchange have been correctly entered in the declaration form. Due to the export ban on the national currency, it is advisable only to exchange into the Guinea franc as required. It is important to take sufficient cash with you, as there are no ATMs in Guinea for withdrawing money.
Cashing traveller’s cheques in Guinea
The inclusion of traveller’s cheques in the travel fund as additional means of payment should be reconsidered when travelling to Guinea. Although traveller’s cheques have the advantage of being replaced directly in the event of loss, they are generally returned worldwide. It should also be noted in Guinea that very high fees of up to 14% are charged when traveller’s cheques are cashed.
In smaller financial institutions it can even happen that even higher surcharges are due. However, if you do not want to do without traveller’s cheques, it is best to have them issued in euros or US dollars. In general, when travelling to Guinea, it is important to ensure that sufficient cash is carried and that at least one credit card is in the travel fund as an additional means of payment.
Cashless payment in Guinea
Credit cards are widely accepted for cashless payment in Guinea. Whether the hotel accepts credit cards as means of payment can be clarified at the time of booking. If the credit card is used for cashless payments, the credit card institute will charge a fee of between 1 and 4% of the ordered amount. For information on the exact amount of the fee, you should contact the relevant credit card institute directly.
Withdraw money in Guinea by EC card
It is not possible to withdraw money in Guinea with an EC card. However, an EC card is not useless, at least when preparing your trip. You should pay attention to non-bank ATMs. Here often an extra fee of the bank is charged, which can move between 5 and 10 euros. It is cheaper to use the credit card to withdraw money when using a non-bank ATM. If you are in possession of a so-called travel credit card, it is even possible to withdraw money worldwide free of charge. Further information can be found in the next section.
Withdraw money in Guinea by credit card
Even with a credit card it is not possible to withdraw cash in Guinea, but the credit card is a useful means of payment in the travel fund. In addition to the possibility of using it for cashless payments, it can also help with travel preparations. Only a few banks offer a so-called travel credit card, which is free of charge. The providers do not charge any fees for the use of the travel credit card at ATMs abroad or at domestic foreign banks.
The banks listed via the link offer a free VISA or MasterCard. In this way, you can save money on every trip abroad that would otherwise have ended up at your bank. As there are no charges for the use of the card at foreign banks in Germany, this card can also save money after the trip.
Security when withdrawing money in Guinea
Guinea is a dangerous travel destination. Gang crime and assaults, even robbery killings are part of Guinea’s sad everyday life. If, after a well thought-out risk-benefit analysis, one nevertheless embarks on the journey to Guinea, one should adhere strictly to the security instructions of the Federal Foreign Office in order not to unnecessarily endanger life and limb.
When leaving the hotel, all valuables and means of payment as well as travel documents should be kept in the hotel safe. You should be careful when handling cash in public, as public violence is very high. Even if there are no suitable ATMs available in Guinea itself, you should pay special attention to safe money on arrival and also in the surrounding countries. Concealed PIN entry and separate storage of PIN and card should be a matter of course everywhere. The number of the international blocking emergency call should always be carried along.
Another note that is relevant for all credit card holders on holiday: Before every trip abroad, the credit card provider should be informed about the planned use of the card abroad, otherwise it may happen that the card is blocked for security reasons due to suspicion of card misuse on the part of the provider. Finally, it should be noted that the cost of careful liquidity planning for the stay abroad is less than the annoyance and costs that can be avoided.