In my previous article, I gave a very basic explanation of what blockchain was and its types but in this article, I'll be talking about crypto wallets in the African space(I'm sure you read the title of this article😐). Without further ado, let's get into it.
Although cryptocurrencies are not yet recognized as a legal tender by a couple of countries, it has continued to gain massive adoption. People use it to store value, trade, and as investments. These activities are usually available on crypto exchanges, each of these crypto exchange platforms(available as apps) has offices in Africa and of course allow African payment methods. Some of the platforms also provide learning materials for people who want to delve into the cryptocurrency space.
Here's a list of some of the most popular crypto wallets in Africa:
- Binance
- Luno
- Quidax
- Yellow card
- BuyCoins
- KuCoin
- Huobi
Binance
Binance is one of the most popular blockchains and crypto-asset exchanges in Sub-Saharan Africa. The platform is simple, secure, fast, and beginner-friendly. Binance averages a daily trading volume of more than $38.31b.1,400,000+ transaction speed 24/7 support, Binance has a native asset called BNB. This platform supports 10 fiat currencies. Launched in 2017, the leading global digital wallet enables users from over 180 countries to buy, sell and trade cryptocurrencies. A vital edge Binance has over other platforms is a large number of cryptocurrencies that can be traded on the platform -over 380 pairs. They currently have an office in Cape Town, South Africa. Read more about Binance.
Luno
Luno is a simple crypto investment platform that is customized for everyone. It is an independent operating subsidiary of Digital Currency Group. It was launched in 2013 in Singapore, Luno has a very 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 cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, USDC, XRP, Liverpool, Chainlink, and Uniswap. The platform was the first exchange to permit customers to buy and sell crypto at zero transaction fees. Read more about Luno.
Quidax
Quidax is a Bitcoin and Altcoin, African-focused cryptocurrency exchange platform based in Nigeria. It was founded by Buchi Okoro in 2018. The exchange platform enables users to send, receive, store, buy and sell digital currencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Cardano (ADA), Litecoin (LTC), and others that can be traded against the Naira or USDT
The platform enables fintech companies to provide crypto-related services to their customers. The platform's interface is easy to navigate and customers are not charged transaction fees.
Quidax provides a native QDX token that can be used for transactions, transaction fees, on the Quidax Exchange, in-store payments, and several other services. Read more about Quidax.
Yellow Card
Yellow Card is a secure and convenient cryptocurrency exchange launched in 2018. It allows its users to buy Bitcoin, Ethereum, and Tether(USDT) using bank transfers, mobile money, and cash. The platform is available in over 13 African countries, supporting local currencies like the South African Rand, Nigerian Naira, Botswana Pula, Ghanaian Cedi, Kenyan Shilling, Tanzanian Shilling, Ugandan Shilling, and so on. The yellow card is built on a mission "Financial Inclusion For All". The platform averages a daily trading volume of $165m. Read more about Yellow Card.
BuyCoins
BuyCoins is a virtual marketplace where users can buy and sell cryptocurrencies and other digital assets. It launched as a crypto exchange platform in 2017 as Bitkoin Africa but later rebranded to BuyCoins Africa in 2018 and has since evolved into a digital marketplace.
A unique proposition of this wallet is that not only do users trade digital currencies, but they can also buy and sell US shares and stocks such as Tesla, Amazon, etc.
The platform is also known for its stablecoin called NGNT. The NGNT coin is pegged to the value of the Nigerian Naira and is backed by the world's leading digital dollar stablecoin - USDC.
Buycoins offers its users a way to gain interest in their coins after storing them for a particular period of time, using its Coinlock feature. Read more about BuyCoins.
KuCoin
KuCoin is a secure crypto marketplace that makes it easy to buy, sell and store digital assets such as cryptocurrencies and NFTs.
It boasts one of the world's most sophisticated security technology and maintenance teams. KuCoin allows users to improve their practical experience through a variety of trading and financial products for as low as $1. Its headquarters is located in Seychelles, KuCoin offers basic functions such as buying and selling crypto, as well as deposit and withdrawal. The platform's an average of $5.3m USD daily transaction volume.
KuCoin has no restrictions on the exchange between fiat and crypto and supports over 50 fiat currencies through our P2P market and credit/debit channel.
Part of KuCoin’s marketplace is the Windvane platform. The Windvane platform allows KuCoin’s users to sell, swap, and mint NFTs.
KuCoin also provides crypto lending, pooling, and cloud mining services. Read more about KuCoin.
Huobi
Huobi, which was founded in 2013, is a world-leading Bitcoin & Ethereum trading platform that provides secure and convenient trading services for hundreds of digital assets. The Seychelles-based platform averages $3.55b daily transaction volume per day. Users can also give educational materials on the platform to gain knowledge in cryptocurrency, blockchain, DeFi, metaverse, etc.
Liquidity is ranked No.1 around the world, Huobi has zero security incidents and has twenty thousand BTC security reserve funds. Read more about Huobi.
The list above is my little list of crypto wallets in the African space, but rest assured that there are tons of other crypto wallets in the African space.
Disclaimer: This list should not be considered investment advice.