10 Apps to Trade Cryptocurrency In Africa

Cryptocurrency is gradually overtaking the traditional investments scheme as it offers a lot of flexibility, high returns, security and transparency. Another major benefit of trading cryptocurrency is how easy it is to make investments from your smartphone or computer. Unlike other traditional investments like stocks and bonds where certain documents and qualifications will be needed before you can invest.  For the benefit of our African audience, RNN.NG has complied the best 10 apps to trade cryptocurrency in Africa.

Read More: 

• Top 10 Cryptocurrencies to buy in (May)
• 10 Best Cryptocurrencies Under $1 In 2022
• Top 10 best cryptocurrencies you should invest in 2022

1. Binance

Binance has established itself as the leading exchange despite just four years in the crypto market. It was initially launched in China but has however expanded its services globally. Making it one of the best apps to trade cryptocurrency in Africa.

The platform offers over 600 coins to trade with, easy-to-use features for newbies as well as complex trading tools for professional traders.   There are also many trading options available on the app, such as  P2P, Spot, Margin, Swap farming, strategy training and even NFTs.

Its constant innovation, reduced transaction cost, and reliability are factors that give it an edge in the Crypto Market.

2. FTX

FTX is one of the world’s largest players in the crypto industry with a daily trading volume of more than $17 billion. The exchange was founded in 2019 and has expanded to every part of the globe including Africa. As of July 2021, the exchange has over one million users.

The platform has a robust trading platform which is educative and easy to navigate. It also has a friendly user interface, low fees, superior product innovations, and prompt customer service.

3. Coinbase Pro

Coinbase is one of the most popular cryptocurrency exchanges in the world and one of the best apps to trade cryptocurrency in Africa. The platform is the first crypto-based company to launch an IPO listing on the Nasdaq exchange in 2021.

Coinbase pro offers over 130 coins to trade with,  a self-hosted wallet and a card service that allows you to spend or store rewards. You can also create, connect and collect NFTs online with this app. You can also borrow cash by using your BTC as collateral or choose to get paid online with a specific coin.

Businesses can also trade cryptocurrency and use the platform to list their assets online, power their compliance, and raise money for their startup.

4. Kraken

Kraken is a United States-based cryptocurrency exchange and bank, founded in 2011. The exchange provides trading between cryptocurrency and fiat currencies. The platform is presently in 176 countries across the globe, making it one of the best apps to trade cryptocurrency in Africa.

It offers a wide range of products, including futures, indices, liquidity, gift cards, and margin trade facilities, to users across the world. It is the biggest international Bitcoin exchange in the world that is backed by several investors, including Hummingbird Ventures, Tribe Capital, Blockchain Capital, and Digital Currency Group.

5. KuCoin

KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. It was launched in 2017 and has grown into one of the most popular crypto exchanges with over 8 million registered users from 200+ countries.

The platform is headquartered in Seychelles and has an average of $2.2b daily transaction volume. It is popularly known Known as the “People’s Exchange” as it is notable for providing users with the most local services.

KuCoin is one of the best apps to trade cryptocurrency in Africa as it leverages trendy technologies to create handy services for all. Its several features include instant crypto purchases with a credit card, margin trading platform, a beginner-friendly user interface and many others.

6. Luno

Luno is one of the biggest crypto platforms in Africa, with a significant market share in Nigeria, South Africa, Singapore, Malaysia and over 40 more countries.  The platform supports popular coins like Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash. It also has a daily trading platform of over $18.62m daily.

The app is user-friendly and intuitive, allowing users to get an optimized trading experience. It is also equipped with trading tools, including a price analytical dashboard, charts, indicators and many more. It was the first exchange to permit customers to buy and sell crypto at zero transaction fees.

7. Changelly

Changelly is a cryptocurrency exchange service between digital currencies and one of the best apps to trade cryptocurrency in Africa. It acts as a mediator between trading cryptocurrency platforms and users providing a wide range of digital assets for a seamless exchange.

The Platform offers a wide range of digital currencies to buy and sell but does not provide conversion to or from traditional currencies. It has listed over 204 coins available for trading and charges a flat fee of 0.25% per trade, one of the best exchange rates in the crypto world.

8. Quidax

With an exchange score of 3.5 on the CoinMarketCap and over 23 major coins available for trading, Quidax takes eighth place among the best apps to trade cryptocurrency in 2022. The platform was launched in 2018 and enables users to send, receive, store, buy and sell digital currencies.

Quidax also enables fintech companies to provide crypto-related services to their customers. It is the first African crypto exchange to be listed on CoinMarketCap. Unlike other exchanges, Quidax does not impose a deposit fee but instead charges bank fees and RAVE payment processing fees.

9. Breet

Breet is a trading application that allows you to trade your cryptocurrency for liquid cash. Unlike other platforms, Breet doesn’t offer a way for you to hold or buy coins on the platform. It also only accepts very limited coins like BTC, ETH, DOGE, Litecoins, and Bitcoin cash.

The platform offers one of the best crypto rates in Africa. There’s also an option for businesses who’d like to integrate this app into their services. You can use the merchant API to build gateways for your applications as well.

10. Patricia

Concluding the list of the best apps to trade cryptocurrency in Africa is Patricia, an African based Crypto-trading platform that allows you to make day to day payments with your cryptocurrency.  Patricia allows you to buy airtime, purchase data, buy electricity, and pay your other bills directly from your wallet.

The platform also launched the first Bitcoin debit card in Africa. It offers a product called OTC for high-end individuals who’d want instant liquidity for bulk trades. Fiat settlements are currently available in 7 currencies including Naira, Cedis, and Rands.

Summary

Here is a recap of the best 10 apps to trade cryptocurrency in Africa

1. Binance
2. Futures Exchange Trades (FTX)
3. Coinbase Pro
4. Kraken
5. Ku Coin
6. Luno
7. Changelly
8. Quida
9. Breet
10. Patricia