P2P Bitcoin Exchanges: When we read that Africa has the highest number of leading cryptocurrency exchanges worldwide, then we got to know about the intrusion of taxation on cryptocurrency in Africa which has posed a drastically negative impact on famous exchanges.
Today, these crypto exchanges are no longer adapted to blockchain technology or can they successfully facilitate crypto transactions from all over the world while operating in Africa. This is due to the fact that every single use of cryptocurrency is now subjected to the rules created by SARS (South African Revenue Services). But thanks to the introduction of P2P bitcoin exchanges like quantum-ai.io in Africa, the crypto flow has not only been smooth on the continent but even more effective.
A P2P exchange is a decentralized platform that resembles a normal exchange service but works by eliminating the interference of any middlemen during the cryptocurrency exchange. This type of exchange has proven immensely helpful in Africa as it directly connects the crypto buyer to the crypto seller and works solely on the mutually agreed terms and conditions.
Recently, numerous crypto-rich countries of Africa including Nigeria, Ghana, South Africa, Kenya have welcomed P2P exchanges as an easy yet quick alternative to the old Bitcoin exchanges in Africa. Here is a list of the 5 best P2P bitcoin exchanges in Africa to use safely from anywhere in the world.
Both normal bitcoin exchange and P2P bitcoin exchange, Paxful has maintained a remarkable reputation in every service it provides. Established in 2015, it is also one of the biggest and trustworthy P2P bitcoin exchanges in Africa. With providing extremely easy accessibility all over Africa, it allows more than 300 payment methods including all traditional and famous ones.
Paxful is not only the most efficient but also an extremely affordable P2P bitcoin exchange offering a small trading fee of 1%. It is your ideal go-to service if you need a smooth, instant, and secure P2P exchange while living in Africa.
With the largest bitcoin trading volume, Binance p2p aims to offer ease and comfort to all its customers while exchanging bitcoin at super competitive prices. Its peer-to-peer trading section works under a user-friendly, easy-to-use and effective Binance ecosystem, offering over 60 payment methods.
Despite being a relatively new bitcoin exchange, it has acquired extensive popularity by offering zero trading fees and allowing exchanges of other popular cryptocurrencies too. The platform currently operates in Nigeria, Kenya and South Africa but has strategic plans to expand its territory all over Africa.
Local bitcoins should be your first preference when looking for a safe, transparent and credible bitcoin exchange. To ensure the protection of every shared detail during the exchange, local bitcoin restricts every bitcoin trader to fulfill all the KYC requirements. With more than 35+ payment methods including PayPal, Western Union and M-Pesa, it levies a 1% trading fee on every bitcoin exchange. However, the accessibility rate for local bitcoin is comparatively less as not everyone likes going through a strict procedure of KYC requirements.
The idea behind the development of Remitano was to dedicatedly serve bitcoin traders from South African and Nigerian markets. It currently operates in 13 countries dealing with over 15 different types of cryptocurrencies including Ethereum, Tether, Litecoin, and bitcoin among others.
Like Paxful, Remitano also offers 1% trading fees with no complicated paper works or additional security requirements while exchanging your bitcoin. The service has strict policies towards escrow funds and ensures the prevention of any scam or illegal bitcoin dealing through the service.
Hodl Hodl is today considered one of the largest successful bitcoin forums founded in 2013. This P2P bitcoin exchange service holds tremendous significance in Africa’s crypto market and has served numerous investors with their safe bitcoin dealing.
However, it only accepts bitcoin exchanges and the hope is that it allows other crypto exchanges in the future. Hodl Hodl has 30-plus payment methods and it is wholly protected without a strict KYC policy.