5 Best Bitcoin Exchange Platforms in Africa

Africa is the second largest bitcoin market in the world after the USA. It wouldn’t be wrong to say Bitcoin is the main reason for the developing economy of Africa. The people in Africa have invested their assets and money in bitcoin exchange platforms like the Bitcoin Equaliser app, helping them trade and earn more. These bitcoin exchange platforms also help their users by providing them different and feasible transaction methods into their local currency.

If you’re interested in trading and earning profits through bitcoin, then you have come to the right place. In this guide, you will get to know some of the best bitcoin exchange platforms in Africa, which deals in other cryptocurrencies as well. These platforms will help you trade and earn money online, using your investments.

• Coindirect

Coindirect is the latest bitcoin exchange platform, which is getting a lot of popularity in Africa. It is accessible in 24 countries currently, which includes South Africa, Kenya, Nigeria, and more. This bitcoin trading platform allows traders and customers to purchase and sell bitcoins (BTC), including other cryptocurrencies like Altcoins, Cardano (ADA), Dash (DASH), and Monero (XMR).

Coindirect also provides their users peer-to-peer exchange offers with Escrow protected withdrawal without any service charge. Coindirect is a 24 hours online site, which offers its users to carry out their transactions at any time, using their local currencies.

• Luno

Luno is an international cryptocurrency exchange platform accessible in Nigeria, Uganda, South Africa, and Zambia. This bitcoin exchange platform deals with bitcoins and trades Litecoin, Ripple, and Ethereum. Luno also provides an e-learning portal, which teaches traders and users about cryptocurrencies.

Luno creates feasibility for its users, allowing traders and customers to exchange bitcoins in their local currencies. For example, South African customers use Absa bank, Standard Bank, and Ned bank, so FBN can transact and make deposits in their banks with their local currencies through online banking. However, the payment methods differ from country to country, but Luno provides them with a reasonable currency exchange rate.

• Paxful

Paxful is also becoming a popular network of bitcoin exchange platforms. This platform is incredibly accessible in almost all parts of Africa. It allows the users to purchase, sell, trade, and spend bitcoins.

Bitcoin trading through Paxful occurs via live chat discussions and trade. However, transactions are via Escrow. Paxful is accessible in almost all Africa, especially Kenya, Egypt, Mozambique, Rwanda, Algeria, Mauritius, Nigeria, and South Africa.

Paxful is immensely customer-friendly; it allows more than 300 transaction methods, such as PayPal, VISA, MoneyGram, bank transfer, and Mastercard. Paxful has around 1.7 million users worldwide, which is why it can give decent liquidity to bitcoin traders.

• Quidax

Quidax is one of the most popular and profitable bitcoin platforms in Africa. It allows the traders and users to trade not only bitcoin (BTC) but also Tether (USDT), Ether (ETH), and some other cryptocurrencies with reasonable exchange rates to local currency.

Quidax was founded in 2018, becoming popular in Nigeria, mainly because they introduced Naira (NGN) as their 1st fiat currency. After Naira, more local fiat will also be part of Quidax.

Quidax deals with many cryptocurrencies like BTC, USDT, TRX, DASH, XRP, LTC, and ETH. Recently, they even launched their iOS and Android app for better accessibility for their users.

• Remitano

Remitano is a wide network bitcoin trading platform, where traders trade cryptocurrencies like Ether (ETH), Tether (USDT) and Bitcoin cash (BCH), with transactions through escrow. Remitano is accessible in Nigeria, South Africa, Kenya, and many other countries in the continent of Africa.

Remitano is a user-friendly platform, which has a very simple and fast mode to trade bitcoin. Its transaction methods are bank transfer, and online money exchange app, like M-Pesa in Kenya.

Conclusion:

Despite so many hurdles, Africans are keen to invest in cryptocurrencies and make the most out of it. If you are new to trading and looking for the best exchange platform, you can go with any of the above-mentioned platforms.