7 Africa-Based Crypto Exchanges You Should Know

7 Africa-Based Crypto Exchanges You Should Know

by 1 December 2021

As good news for Africa-based crypto exchanges, crypto has emerged as one of the top fintech trends across Africa this year despite wide regulatory disapproval of the trading of these currencies.

Kenya, Nigeria, Togo, South Africa, Ghana, Tanzania emerged as the top nations driving crypto adoption worldwide. Transaction volumes on P2P platforms also stood relatively high in Kenya and Nigeria.

In sub-Saharan Africa, peer-to-peer (P2P) bitcoin trading volumes on global crypto platforms LocalBitcoins and Paxful were the highest in the world, while at Luno, African users dominated its newly added users this year. Meanwhile, local exchanges such as Yellow Card and Busha have also successfully raised venture funding this year.

The space is still only emerging in Africa, but local players are stepping up to cater to a demand for crypto trading that has largely been addressed so far by global platforms. Here are some Africa-based crypto exchanges that are making crypto trading accessible locally.

Disclaimer: This list should not be considered as investment advice or an endorsement of these platforms.

Africa-based crypto exchanges

1. Yellow Card

Headquarters: Georgia, US
Supported fiat currencies: ZAR, NGN, BWP, GHS, KES, TZS, UGX, XAF, ZMW, CDF

yellow card
Yellow Card allows users to buy Bitcoin, Ethereum and Tether (USDT) using bank transfers, mobile money and cash. The platform is currently available in over 10 African countries, supporting local currencies. These are the South African Rand, Nigerian Naira, Botswanan Pula, Ghanaian Cedi, Kenyan Shilling, Tanzanian Shilling, Ugandan Shilling, Central African Franc, Zambian Kwacha, and the Congolese Franc.

2. ChainEX

Headquarters: Eastern Cape, South Africa
Supported fiat currencies: ZAR

South African users can trade Bitcoin, Ethereum and alt-coins on this platform. Overall, it offers over 20 cryptocurrencies for trading. Trading pairs that are supported include BTC/ZAR, BTC/USDT, CVC/BTC, ZRX/BTC, and BTCV/BTC. The company aims to differentiate itself through user service, including a Telegram community and bi-weekly community calls.

3. Naijacrypto

Headquarters: Lagos, Nigeria
Supported fiat currencies: NGN

Naijacrypto allows crypto trading across multiple coins, including Bitcoin, Ethereum, Tether, Binance USD and more. These can be traded against the Naira. The platform uses a multi-stage wallet strategy to ensure that the majority of funds are kept in cold storage. It also offers a custom trading engine that is scalable and executes orders in real time.

4. Busha

Headquarters:Lagos, Nigeria
Supported fiat currencies: NGN

Busha is a Nigeria-based crypto platform that provides a crypto exchange as well as other crypto investment-related solutions. Its exchange allows users to trade currencies such as Bitcoin, Litecoin and Ethereum. The company provides a savings feature that allows users to save up to 10% annual percentage yield on their assets. Interest accrues on a daily basis and is payable monthly. Users can also choose to invest in Busha’s curated crypto index products, or borrow funds against their crypto assets.

5. Ovex

Headquarters: Western Cape, South Africa
Supported fiat currencies: ZAR

Ovex offers ZAR, USDT, TUSD and BTC trading pairs, with crypto options including main coins Bitcoin and Ethereum, and meme coins as well such as Dogecoin. The company also has an OTC solution for high volume trades by institutions and HNWIs. The platform has a 30-day OTC trading volume of over ZAR4.5 billion, its website said.

6. Quidax

Headquarters: European Union
Supported currencies: NGN

Quidax supports several cryptocurrencies that can be traded against the Naira or USDT. The company allows users to trade over 100 cryptocurrencies from the Binance Smart Chain ecosystem.It also provides a native QDX token that can be used for transactions, transaction fees on the Quidax Exchange, in-store payments and more.

7. Valr

Headquarters: Johannesburg, South Africa
Supported currencies: ZAR

The platform allows users to deposit RAND via EFT from any bank, using it to buy Bitcoin and Ethereum. Users can also withdraw Rand to any South African bank account. Cryptocurrencies supported on the exchange include Ripple, Litecoin, Bitcoin Cash, and Cardano, amongst others. Over 50 cryptocurrencies can be traded on Valr. It also has a rewards function for users based on referrals.

3 Comments so far

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  1. Dr.Simpld
    #1 Dr.Simpld 25 January, 2022, 19:46

    I’ve gone through u’re web site.
    It’s good and business heart encouraging.

    How can you help one developing crypto currency to be traded on u’re sites.

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