The growth rate of crypto users in Africa is growing at a rate of over 3500%. People are interested in digital currency because:
- They offer peer-to-peer lending services.
- It’s a source of income.
- They are solving real problems for African people.
- Cryptocurrencies are giving Africans money freedom.
This growth and crypto usage in Africa has led to the growth of exchange platforms. These platforms are mostly foreign, but the continent has seen a sprout of its very own with time. Binance, Paxful, Bitpesa, Quidax, coinbase, Luno, and Huobi Global are the most used African platforms. Let’s dive in and learn more about these exchange platforms.
Bitpesa
Most Africans embrace this platform because it accepts payments through bitcoin. It allows the conversion of bitcoin into local currencies. It also fastens the speed of payment to and from frontier markets.
Paxful
You can buy and sell bitcoin in different currencies and assets as a peer-peer exchange platform. As a digital wallet provider, it supports the payment of more than 300 methods. Traders don’t need a username or password; they just need an email address.
Huobi Global
These platforms offer a variety of cryptocurrencies. Traders can exchange up to 400 cryptocurrencies. They can deposit funds and expect to earn double or triple yield depending on the range of cryptocurrency.
Luna
It was first launched in Singapore before extending to Nigeria, South Africa, and 41 other countries. It makes up to 18.63% in a day on trading. Traders can buy bitcoin at no transaction fee. It has a stake of about 6-7% interest per year.
Coinbase
It is popular since it offers a variety of cryptocurrencies to trade on, such as bitcoin and Ethereum. It is very easy to use by beginners due to its ease to buy bitcoin, selling, and trading. The maximum time taken to create a coinbase account is roughly nine minutes.
Quidam
This platform is popular because the users are not charged a transaction fee. It enables users to easily trade, buy, sell or store digital currencies. It makes buying or selling cryptocurrencies into local currencies easier within five minutes.
Crypto.com
It is highly secure and offers a digital market. Traders are awarded higher trading volumes. It offers ways to earn deposits through interest or earn crypto. Traders have a CRO stake. The CRO offers great discounts depending on how much you stake. Traders can sell, buy, exchange, receive and withdraw. It’s very secure as it offers multi-factor authentication. The apps and website are easy to navigate and use since they offer user-friendly features.
