Exchange Bitcoin (BTC) in Africa is nothing new. Recently it turned out that Bitcoin was more popular in Africa than anywhere in the world. In fact, this renewed interest in bitcoin is being accelerated by the devaluation of local currencies. To protect themselves, Africans are turning more and more to refugee values and bitcoin is one of them.
This is why the question of which platforms to buy Bitcoin on in Africa is therefore fundamental.. We will try to answer them in this article without discouraging you from doing your own research.
The platforms that we are going to present to you are sorted according to the ability to offer the services in several countries, the accepted payment methods, the ease of use and the reputation they have in the cryptosphere. So fasten your seatbelts, let’s go!
Paxful is a well-known Peer-to-Peer (P2P) marketplace in the crypto ecosystem. It offers its services all over the world, including in blacklisted regions such as Congo.
One of the advantages of using Paxful is the fact that it supports over 300 payment methods such as gift cards, mobile money, Paypal, Western Union and even cash payment.
However, it is important to check if the seller is charging a rate that is right for you and if it is well rated. This will prevent you from running into a malicious user.
Like Paxful, LocalBitcoins is present almost everywhere in the world and well known. It is a platform (P2P) that connects sellers and buyers. LocalBitcoins is present in most African countries and remains easy to use.
It provides for a security procedure including two-factor authentication as well as KYC (Know Your Customer) imposition before any operation. This allows them to have real information on users, which is important in a P2P marketplace.
First exchange platform in the world, Binance recently added the Naira (Nigeria) to the currencies supported by its P2P service.
On his blog, the crypto-exchange announced its intention to extend this possibility to other African currencies including the KES (Kenyan Shilling) and ZAR (South African Rand).
Binance therefore remains one of the platforms most invaded by African users and as proof this recent chainalysis report which places him well in front of all his competitors.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.
This list is not exhaustive given the plurality of platforms that operate in Africa. In our next articles you will discover several other platforms that work more locally or just in a few countries. Today we just took the time to introduce you to the most popular platforms. Do not hesitate to share with us your opinions on the subject.