10 Cryptocurrency Exchanges Enabling Africans To Invest In Tokens
Thanks to a growing list of cryptocurrency exchanges across the continent, Africans are now able to invest in digital tokens.
Crypto exchanges provide investors in countries such as South Africa, Nigeria, Ghana, Zimbabwe and Kenya with a way in which they can buy and sell digital currencies.
Some exchanges focus exclusively on Bitcoin while others offer crypto currencies such as Litecoin, Dash and Ethereum. Some of the exchanges on this list are already established, but new players such as CoinPesa, BitFund and BuyCoins have emerged to cater for a growing appetite among African investors.
Here are 10 tech startups that are enabling Africans to invest in cryptocurrency tokens.
CoinPesa is a Ugandan blockchain-based digital asset exchange that is focused on making cryptocurrencies and other digital assets available to emerging markets. The platform attracted around 500 users in its first two months of operation, and it aims to give users access to digital currencies without the exhorbitant fees often attached to these transactions. This exchange offers Bitcoin, Bitcoin Cash and Ethereum.
South African bitcoin exchange, Luno, enables users to invest in Bitcoin and Ethereum. With offices in Cape Town, Singapore, Malaysia and London, the company now caters for users in 40 countries. In September last year the company announced an additional investment of $9 million, following on from Luno’s $4 million Series A round in 2015, which was led by Africa’s largest company, Naspers, Techcrunch reported.
Golix is a Zimbabwean cryptocurrency exchange that makes it possible for users in the country to invest in a variety of digital currencies, including the popular Bitcoin and Ethereum tokens. previously called BitcoinFundi, the exchange recently added support for the trading of the RMESH, STEEM and USD₮ tokens. Users in Uganda, Kenya, and South Africa can invest in cryptocurrencies via Golix.
BitPesa is a bitcoin payments startup that launched in Kenya in 2013 before expanding in Africa and beyond. While it is a startup focusing on payments, it also sells bitcoin in Kenya, Uganda and Nigeria, which is its largest market. In 2017 the company announced a $2.5 million round of funding, Cryptocoins News reported.
In July a new platform in South Africa joined the ranks of Africa’s cryptocurrency exchanges with the launch of BitFund. The exchange offers users access to 20 of the largest digital currencies globally, including Bitcoin, Ethereum, Ripple and Litecoin, according to Techcentral.
Cryptocurrency platform Bit Sika Ghana claims to be the “easiest way to buy, store, transfer and sell Bitcoin in Ghana”. Payments to BitSika are processed via MTN Mobile Money. The startup was one of the tech companies pitching at the Seedstars Accra event earlier this year.
Launched in 2013, Ice3X is a South African cryptocurrency exchange that gives users access to Bitcoin, Litecoin, and Ethereum in South African rand and Nigerian naira. It is one of the oldest and most established African cryptocurrency exchanges available to investors on the continent, according to BitcoinAfrica.
NairaEx is Nigeria’s oldest bitcoin exchange, allowing Nigerians to buy and sell digital currencies. On NairaEx, users can buy Bitcoin with naira through bank transfers or bank deposits. Nigerians can also use the exchange’s wallet for remittance purposes as users can cash out their Bitcoin in exchange for local currency. The company claims to have over 100,000 users.
BuyCoins, a cryptocurrency exchange platform based in Nigeria, was launched in July this year. BuyCoins allows users to trade and store Bitcoin, Litecoin, Ethereum and Bitcoin Cash. The exchange makes it possible for users to transact via a mobile app, as long as the user has a Nigerian bank account or debit card to link to their crypto exchange account, Techmoran reports.
Remitano is an escrowed peer-to-peer bitcoin exchange where users can buy and sell Ethereum, Bitcoin Cash, and Tether USDT. The Remitano platform is a product of Babylon Solutions Limited in the Seychelles. The platform is available in Nigeria, Kenya, and South Africa, and supports mobile money transactions such as M-Pesa as a method of payment, according to BitcoinAfrica.
And one more to come…
This exchange is still in the works, but South African financial services group Sygnia is set to launch a cryptocurrency exchange before the end of the year. The Cape Town-based company, which invests in fintech startups, will launch the exchange in November, with users able to invest in cryptocurrencies such as Bitcoin and Ethereum through the platform.