Five Crypto Exchanges that are taking over the African Markets

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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

[Whited35 15285]

I think still more exchange sites are yet to come Africa. It is impressive to know about the crypto craze in Africa. Nigeria is the biggest name for contributing the crypto trend there. Anyway, thanks for letting us know about the top cryptocurrency exchange platform based on Africa. 

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Thank You very much. More is yet to come and a good number of Africans are being moved as well because of this CoronaVirus into usage of emarkets and digital currencies. its the new market for the crypto era. Yesterday our team managed presenting our ecosystem at Global Investors Online Summit 

 

Edited May 30, 2020 by EXCOINCIAL
forgot some sensitive and helpful information

[BTC Future 3946]

I thought that Binance was making some moves in the African continent as well, but lately I haven't heard much of this. It seems that there is a growing interest for cryptocurrencies in many African nations and hopefully this will be followed by favorable regulations.

[magd 5231]

Africa has become a continent that contains many countries that use encryption, but by reading a lot of articles we find that Nigeria is at the forefront of these countries and I expect success for these platforms, but the NAIRAEX platform will be in the foreground because it is Nigerian as Nigeria supported trading and developed bitcoin ATMs and has a distinct platform management strategy

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14 hours ago, Whited35 said:

I think still more exchange sites are yet to come Africa. It is impressive to know about the crypto craze in Africa. Nigeria is the biggest name for contributing the crypto trend there. Anyway, thanks for letting us know about the top cryptocurrency exchange platform based on Africa. 

Thank you very much, Nigeria is very dedicated about its development and catching up with modern trends like blockchain technology. Hence our exchange will also battle it out to help alot of startups meet their goals in a shortest possible time.

7 hours ago, magd said:

Africa has become a continent that contains many countries that use encryption, but by reading a lot of articles we find that Nigeria is at the forefront of these countries and I expect success for these platforms, but the NAIRAEX platform will be in the foreground because it is Nigerian as Nigeria supported trading and developed bitcoin ATMs and has a distinct platform management strategy

Nigeria is very dedicated about its development and catching up with modern trends like blockchain technology. Hence our exchange will also battle it out to help alot of startups meet their goals in a shortest possible time.

7 hours ago, BTC Future said:

I thought that Binance was making some moves in the African continent as well, but lately I haven't heard much of this. It seems that there is a growing interest for cryptocurrencies in many African nations and hopefully this will be followed by favorable regulations.

Binance came with its own wave in launching its first exchange in Africa Uganda... but as time went on start phasing out its popularity. One thing you need to understand with Africa is that you really need to patient with Africans and taking them step by step or hence you crush your project there.

[George10 9932]

I didn't know about some of other exchanges you mentioned above in your topic that are based in African countries and I'm very much impressed to see this improvement on cryptocurrency via the introduction of many peer to peer exchange sites based in my beloved Continent of Africa and I believe this will help many Africans to get started easily in trading cryptocurrency.

Edited May 30, 2020 by George10
adding infor.

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2 hours ago, George10 said:

I didn't know about some of other exchanges you mentioned above in your topic that are based in African countries and I'm very much impressed to see this improvement on cryptocurrency via the introduction of many peer to peer exchange sites based in my beloved Continent of Africa and I believe this will help many Africans to get started easily in trading cryptocurrency.

Your aid will always be appreciated; You are indeed a true Son of Africa. United We Stand, Divided We Fall...

[nykas 2812]

I haven`t heard about most of these exchanges, but I think that`s great to see crypto projects try to attract attention of more and more people. I think that Africa is one of the best fields for popularizing crypto 

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6 hours ago, Mrrixkhan said:

These may be good exchanges their but i like the hongkong or the chinese CZ Binance exchange today.Thanks for being ehre

you are most welcome.

10 hours ago, nykas said:

I haven`t heard about most of these exchanges, but I think that`s great to see crypto projects try to attract attention of more and more people. I think that Africa is one of the best fields for popularizing crypto 

With the growing numbers of cryptocurrency users due to corona virus, Africa is also on its quest to digital markets hence the success of cryptocurrencies massively adopted in Africa.

Here is a sample Analysis:

[Cammer 4609]

I don't know these exchanges, but I know that African markets are not that strong. Weird because I have never heard of these exchanges before!

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1 hour ago, ethan1751 said:

Are these 5 exchanges originating from Africa or just taking over the market? Of all the exchanges, I have never used it. Can I access globally for the exchange above.

Yes you can. ours is www.excoincial.com

20 minutes ago, Cammer said:

I don't know these exchanges, but I know that African markets are not that strong. Weird because I have never heard of these exchanges before!

Its because you dont do much research. Everyday the demand for the usage of digital currencies is increasing and its never going to stop. eg: Zambian government issued a statement in supporting the digitalizing the Kwacha and using it in buying good and services. Well i can encourage you to dig in deeper and research thoroughly. 

[Cammer 4609]

18 hours ago, EXCOINCIAL said:

 

Its because you dont do much research. Everyday the demand for the usage of digital currencies is increasing and its never going to stop. eg: Zambian government issued a statement in supporting the digitalizing the Kwacha and using it in buying good and services. Well i can encourage you to dig in deeper and research thoroughly. 

I do searches about crypto currencies news and I didn't see any of these exchanges before. Anyways, thank you for sharing this.

Also, what is you website about?

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18 hours ago, Cammer said:

I do searches about crypto currencies news and I didn't see any of these exchanges before. Anyways, thank you for sharing this.

Also, what is you website about?

You are most welcome. Our website is number one exchange in the article www.excoincial.com

21 hours ago, ethan1751 said:

Thank you for that, I will be a reference for now and in the future will try to look at your current exchange. I hope that makes me stay there.

Thank you and Welcome Aboard! You can also take part in our airdrop on telegram community https://t.me/excoincial

Edited June 2, 2020 by EXCOINCIAL

[BitcryptoHan 2557]

I know three of the exchanges but there are still other exchanges which I believe are very common in Africa, like the remitano, paxful and Luno. I have many african friends that told me about three exchanges. 

[gourav789 2834]

well , really a good post with good information . I know very well about localbitcoin , that's is really well trusted website in Market .

I think this list is not fully complete , there is still More exchange that's is taken our another exchange .

[Raqeebzy 6456]

Localbitcoin was the best alternative for African traders but unfortunately, recent developments concerning the directives by EU, they are made to either close their accounts on there or wait for some KYCs proceedures. Coindirect is the best available option.

[Calvinpriva 17296]

I know Bitpesa and Localbitcoins because they are the most used exchanges in Africa if am not wrong. Localbitcoins is the leading, then it follows Remitano exchange, and then the others follows including Bitpesa.

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11 hours ago, Majeshi said:

You are right friend, all exchanges are working in Africa. But the leading exchange in Africa is localbitcoins, it has many users and it is the most trusted. If you have a good capital to start a business in localbitcoins, you will earn good profit everyday.

yes but it hinders others with less traffick due to locations and its because it started first than excoincial. we are patient roaming the continent.

11 hours ago, BitcryptoHan said:

I know three of the exchanges but there are still other exchanges which I believe are very common in Africa, like the remitano, paxful and Luno. I have many african friends that told me about three exchanges. 

that is wonderful to note... either of those you have mentioned have a barrier in terms of locations like localbitcoins is limited to certain areas where no much people are into crypto industries.

7 hours ago, gourav789 said:

well , really a good post with good information . I know very well about localbitcoin , that's is really well trusted website in Market .

I think this list is not fully complete , there is still More exchange that's is taken our another exchange .

watch our space and see how patient we are monopolising the African Continent.

3 hours ago, Calvinpriva said:

I know Bitpesa and Localbitcoins because they are the most used exchanges in Africa if am not wrong. Localbitcoins is the leading, then it follows Remitano exchange, and then the others follows including Bitpesa.

Thank you very much. you must watch carefully how our platform will monopolise the African Continent.

[Honny143 13612]

I can't understand you mention 5 exchange are African country based, are this exchange works in Africa to buy are sell for African users, I know localbitcoin because I use this exchange to peer 2 peer transaction, and its trustable exchange, i hope in future so many big exchange works Africa because now African crypto users also increase day by day.

[BitcryptoHan 2557]

3 hours ago, Honny143 said:

I can't understand you mention 5 exchange are African country based, are this exchange works in Africa to buy are sell for African users, I know localbitcoin because I use this exchange to peer 2 peer transaction, and its trustable exchange, i hope in future so many big exchange works Africa because now African crypto users also increase day by day.

You are right, like the local bitcoin is not African but provide local service to each countries that support it. But some like NairaEx will be from Africa and precisely Nigeria as the name imply Naira which is Nigeria official currency. 

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8 hours ago, Honny143 said:

I can't understand you mention 5 exchange are African country based, are this exchange works in Africa to buy are sell for African users, I know localbitcoin because I use this exchange to peer 2 peer transaction, and its trustable exchange, i hope in future so many big exchange works Africa because now African crypto users also increase day by day.

there are a lot of exchanges in Africa but these are the best and changing the shape of African crypto markets.

[jamesvince 2389]

Don't worry there is no resistance and restrictions for anyone is that they used local country exchanges or international exchange. We are business man's and we are free to do our business according to our own choices and enjoying our business activities with no problem .

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2 hours ago, jamesvince said:

Don't worry there is no resistance and restrictions for anyone is that they used local country exchanges or international exchange. We are business man's and we are free to do our business according to our own choices and enjoying our business activities with no problem .

Yes its a world of free businesses. decentralised to more specific. 🙂 

[Cammer 4609]

On 6/2/2020 at 8:00 AM, EXCOINCIAL said:

You are most welcome. Our website is number one exchange in the article www.excoincial.com

I have never tried your exchange site before. Can you tell me some benefits about it? Is it only for trading or does it have some other investment features?