Users of cryptocurrencies are increasing at a rate of over 3500% in Africa. People are drawn to digital currency for the following reasons:
- They provide services for peer-to-peer lending.
- It is a means of support.
- They are addressing actual issues facing Africans.
- Cryptocurrencies are enabling financial freedom for Africans.
Exchange platforms have expanded as a result of this increase and crypto usage in Africa. The majority of these platforms are international, but over time, a native African platform has emerged. The most popular platforms in Africa are Huobi Global, Paxful, Bitpesa, Quidax, Binance, and Paxful. Let’s explore these exchange platforms in greater detail.
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Bitpesa
Due to its ability to accept bitcoin payments, this network is being embraced by the majority of Africans. It enables the exchange of bitcoin for regional money. The speed of payments to and from border markets is likewise accelerated.
Paxful
As a peer-to-peer exchange platform, bitcoin may be purchased and sold in a variety of assets and currencies. It facilitates the payment of over 300 different methods as a provider of digital wallets. The only need for traders is an email address; neither a username nor a password are required.
Huobi Global.
The platform provides a selection of cryptocurrencies. Up to 400 cryptocurrencies can be traded by traders. They can deposit money and, depending on the variety of cryptocurrencies, expect to earn a double or triple interest.
Luna.
Before expanding to Nigeria, South Africa, and 41 other nations, it was initially introduced in Singapore. Trading profits might reach 18.63% in a single day. Buyers of bitcoin pay no transaction costs. It has an annual interest stake of roughly 6-7%.
Coinbase
It is well-liked because a wide range of cryptocurrencies, including bitcoin and Ethereum, are available for trading. Because it is so simple to purchase, sell, and trade bitcoin, amateurs may utilize it with ease. A coinbase account can be created in as little as nine minutes.
Quidam
Users of this site are not assessed a transaction fee, which makes it popular. It makes it simple for users to buy, sell, trade, and store digital currency. Within five minutes, it becomes simpler to exchange bitcoins for local currency.
Crypto.com
It offers a digital market and is quite safe. Higher trading volumes are rewarded to traders. It provides options to earn cryptocurrency or interest on deposits. The CRO is owned by traders. Depending on how much you wager, the CRO gives fantastic savings. Trades can be made, exchanged, received, and withdrawn by traders. Because it supports multiple-factor authentication, it is incredibly secure. Due to their user-friendly features, the apps and website are simple to use and browse.
