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 Medium https://medium.com/@don.chancellor
