Cryptocurrencies are not yet recognized as legal tender by most countries. They have however continued to gain massive adoption (especially after COVID-19). People use it to store value, trade, and as investments.

Most of the services relating to trading that is to say buying and selling are available on crypto exchanges. Each of these crypto exchange platforms (available as apps) are situated in Africa and have a large daily trading volume by Africans. The platforms also provide learning materials for crypto enthusiasts who want to delve into the cryptocurrency space.

Here’s an overview of some of the  cryptocurrency exchange platforms: 

Binance

Binance is one of the most popular blockchains and crypto-asset exchanges in Sub-Saharan Africa. The app is simple, secure, fast, and for beginners friendly. Binance averages a daily trading volume of more than $76 billion dollars..  

Launched in 2017, the leading global digital asset exchange enables users from over 180 countries to buy, sell and trade cryptocurrencies. A vital edge Binance has over other platforms is the vast number of cryptos that can be traded on the platform, which is over 380 pairs. Anyone from Uganda, Ghana, Nigeria, South Africa and Kenya can trade using this platform.

Luno

Luno is a crypto platform that is customized for Africans. Launched in 2013 in Singapore, Luno has a strong base in Nigeria, South Africa, Singapore, Malaysia, and over 40 more countries. It has a daily trading platform of over $18.62m daily.

The platform supports Bitcoin, Ethereum, Bitcoin Cash, USDC, XRP, Litecoin, Chainlink, and Uniswap including the Naira. The platform has a user-friendly interface and was the first exchange to permit customers to buy and sell crypto at zero transaction fees.

Quidax

Launched in 2018, Quidax is an African-focused cryptocurrency exchange that not only enables users to send, receive, store, buy and sell digital currencies but also enables fintech companies to provide crypto-related services to their customers such as chippercash.

Quidax recently became the first African crypto exchange to be listed on CoinMarketCap. The platform’s interface is easy to navigate and customers are not charged transaction fees.

BitFxt

BitFxt which operates as a blockchain technology company was launched in 2016 in Lagos. It provides a secure and easy way to trade, store and learn both digital and fiat currencies. Bitfxt currently operates in 13+ countries.

On the app, users can access crypto loans, pay utilities, trade and invest in digital currencies and also access other decentralized finance features. Its pre-installed digital wallet and debit card allow merchants globally to store and spend digital currencies.

BuyCoins

This cryptocurrency exchange was launched in 2017 as Bitkoin Africa then later BuyCoins Africa in 2018. A unique proposition of this platform is that not only do users trade digital currencies (such as Bitcoin, Ethereum, Litecoin, etc) they also buy & sell shares in companies such as Tesla and Amazon.

It provides secure wallet services for all supported cryptocurrencies. This means you won’t need to use external wallets to complete your transactions. 

Kucoin

KuCoin is a secure cryptocurrency exchange that makes buying, selling, and storing cryptocurrencies simple. It now features a new, easy-to-use interface. Kucoin, based in Seychelles, provides basic services such as crypto buying and selling, as well as deposit and withdrawal.

The platform has a daily transaction volume of $2.2 billion on average. Its application is geared at new traders, but more experienced traders will find all of the tools they need to trade well.