Five Crypto Exchanges that are taking over the African Markets

[guatazoo 7150]

On 5/30/2020 at 1:41 AM, EXCOINCIAL said:

Africa is all set to become the new testing ground for cryptocurrency companies as the demand for cryptocurrency-based trading is at all-time high in a few African countries. With inflation rate as high as 70% in some African countries and tight central bank regulations, cryptocurrency is becoming a magnet for Africans and a preferred choice of financial transactions. With growing reach of internet and smart phones in Africa, the future of cryptocurrency seems very bright. These days, such cryptocurrency transactions are done through currency exchanges.

Though Crypto-Exchanges are new to African market, these are the list of five Cryptocurrency Exchanges that are currently taking over the African market:

5. NAIRAEX- NAIRAEX is the cryptocurrency exchange from Nigeria which allows users to buy and sell Bitcoin and Perfect Money in Nigerian currency — Naira. It boasts to be one of the best cryptocurrency Exchanges in Nigeria. The fast and secure transaction of NAIRAEX can take as much as 4 to 12 hours to complete a transaction. It also has a referral program which provides commission on the trades done by referrals. With all its nice and hassle-free features, the operations are still limited to Nigeria

4. BITPESA — BITPESA is a currency exchange platform which is headquartered in Nairobi, Africa. It was founded in 2013 by Elizabeth Rossiello. The company also has its offices in Lagos, Luxembourg, Dakar, Madrid and London. It also boats of offices in countries such as Nigeria, Uganda, Senegal, Ghana and Congo. BITPESA uses a platform known as PESI which can be used for selling, buying and making exchanges of cryptocurrencies.

3. LOCALBITCOINS — LOCALBITCOINS is company in Finland, which came into market in 2012. The bitcoin exchange is available in every African country for buying, selling and exchanging bitcoins. It follows a somewhat different methodology by not using an exchange platform, but by enabling traders to directly interact with each other (peer-to-peer). Traders can post advertisement for their upcoming transactions

2. COINDIRECT — COINDIRECT is a cryptocurrency exchange which can be used in 131 countries to buy bitcoin with majority of the African countries in its operations including Nigeria, South Africa and Kenya. It allows buying, selling and exchange of around 35 cryptocurrencies such as Bitcoin, Ethereum and Litecoin on its platform. COINDIRECT has earned a respectable name in the market for its fast and reliable service.

1. EXCOINCIAL — EXCOINCIAL Exchange is a cryptocurrency and fiat currency Exchange platform which is going to be the next big thing in the Global and African cryptocurrency market. Designed and crafted by a team of expert developers and thought leaders from all over the world, it is no doubt one of the best and secure platform to make cryptocurrency exchanges. EXCOINCIAL is trying to solve several issues in crypto currency exchange market and provide a great experience to the investors. This platform provides Multi-signature Cold Wallet and Two Factor Authentication (2FA) for assets and wallets protection.

One can make a transaction sitting from any corner of the world by just registering on the platform, including all African countries. The sign up is followed by an ultra-simple KYC procedure which asks the traders to upload two documents of their choice for identity verification. This saves the investor from unnecessary pain of sharing too many details. After completion of the authentication procedure which takes a few minutes, the users are all set to trade on the same day. Moreover, there are no hidden charges in trading with EXCOINCIAL and it allows a minimal transaction charge for each trading action. Potential users can go to the link www.excoincial.com to register and basically set up their accounts in few minutes.

The trading platform intends to provide multi-choice and flexibility to transact in more than eighty Fiat Currencies and Cryptocurrencies trading pairs with other host of choices and options such as margin trading in which users can trade even when they have scarcity of funds. This feature saves investors from missing on potential opportunities.

Moreover, EXCOINCIAL has its own Application Programming Interface (API). This provides unique flexibility to the users as well as the developers by reducing its dependability on any third party. In addition, EXCOINCIAL provides a plethora of options for payments. EXCOINCIAL also boats of Elastic Multi Stage wallet strategy which can protect its funds in an event of unwanted cyber-attacks, scams and fraudulent activities.

About the Author: Don Chancellor is the Founder of AFRICUNIA BANK and is easily reachable on Telegram via this link: https://t.me/africunia or on Medium https://medium.com/@don.chancellor

I only know localbitcoins in the list, and this exchange is not taking all over Africa, but this exchange is taken all over the world and many people are using it on exchanging bitcoin to fiat currencies. 

[DreamStage 2105]

Hum that's very interesting to read, as i had no idea how the markets were for Africa during these times.

 

Nontheless i only know about localbitcoins because i saw myself few weeks ago meanwhile trading to other users.

 

I also think with such exchanges Africa will get even more richer country and thus prosper and making africans getting a better life spawn for the future.

[Ridam 7455]

Thanks for informing about it and seeing the innovation in Africa in Crypto field is really awesome. And sure it is helping many African trader. And i have listened about Nairex from many African friends and seeing it on top list is really cool.

[Jessica Karren 1242]

I hope many other big exchanges will also starts their services in Africa and it's good to know about these African based exchanges. The cryptocurrencies technology will surely boost the economy of African countries and helps their people to make money for themselves. 

[malik6314193 5449]

Basically i didn't hear about these exchanges .But as you are saying that it is getting fame in African countries so hope these exchange will be popular in other countries as well. 

No doubt African countries are involving themselves in crypto trading then other countries. Nigeria is good example for this. As you say there is 70% inflation rate so we hope this crypto world will be good to come inflation down. 

[EXCOINCIAL 19]

On 6/9/2020 at 10:44 AM, DreamStage said:

Hum that's very interesting to read, as i had no idea how the markets were for Africa during these times.

 

Nontheless i only know about localbitcoins because i saw myself few weeks ago meanwhile trading to other users.

 

I also think with such exchanges Africa will get even more richer country and thus prosper and making africans getting a better life spawn for the future.

thank you!

[Red-Jones 1150]

Africa has a great chance of cryptocurrencies being adopted by many people, but it also faces major problems caused by dictator and corrupt governments which in my opinion these dictator and corrupt governments will not easily accept that Africans use bitcoin

[CryptoLegend 16]

Localbitcoin is available in many countries and not specific for African countries alone. Excoincial is not for African but a dream exchange that is lacking volume and user's base. They only list shit coins that their named can never be heard in the crypto space. I have accustomed myself with KoinPro and their smart trade panel has been a life saver as it enable me to make profit in any market condition while protecting my capital for a sudden crash. 

[Zaino34 0]

These are really good news I have not heard of these exchanges before, but I know that many African countries are supporting many coding projects and these are good news for these countries.

[Jamaloo 192]

I know three of the trades yet there are as yet different trades which I accept are regular in Africa, similar to the remitano, paxful and Luno. I have numerous african companions that informed me regarding three trades.

[Hfaragon33 29]

beware! With african exchanges if they are like all sennegaleses and nigerian, all scamers since the famous Nigerian Letter..

[Abdulrahman3 1252]

Why do traders in Africa rely exclusively on these five platforms and not rely on internationally known platforms known for their security and low commission rates? I mean, is there a geographic reason for African traders choosing these platforms? Or is it related to the marketing and spread of these platforms ?!

[Ibnbakr 24]

From all indication more exchange sites are coming to Africa. Nigeria is doing well for contributing the crypto world. Anyway, thanks for updating us about the top cryptocurrency exchange platform based on Africa. 

[Rozy 1918]

I have noticed that there are kind of preferences regarding exchanges and wallets and different kinds of crypto serves according to local area or geographical location. In spite of the fact that cryptocurrency is originally a global financial system but there are certain services that are very common in a particular country, for example China has chosen certain applications different rom the ones that are popular in Africa, and I honestly do not see a reason for this, and I wonder could it bee that they provide better services for certain countries.

[zeshan1122 654]

there is no name of the well known exchanges like the yobit and the binance and also the bitrex why they are not here and why there other names?