The Cryptocurrency industry is booming in several African nations including Tanzania where a huge number of Tanzanians who are investing in cryptocurrencies. It is important to note that the Tanzanian government is yet to formally embrace cryptocurrencies because as of 2019, cryptocurrencies were largely banned in Tanzania after the country’s central bank said the digital assets were not recognized by local law. However, this has not deterred the Tanzanian citizens from trading in cryptocurrency. Over the years, cryptocurrency has gained traction in Tanzania, and its cryptocurrency-mining sector is ranked 77 out of 219 countries that are actively involved in Bitcoin mining. It is then predicted Tanzania’s electricity consumption in cryptocurrency mining will amount to more than the entire country’s non-cryptocurrency-related electricity consumption per year.
In Tanzania, people trade using Peer to Peer platforms and there is quite a number of P2P crypto exchanges which are available to Tanzanians at the moment. One of the main reasons why Tanzanians are taking interest in cryptocurrencies is mostly because they want to cushion remittances and cross-border businesses from costly transfer fees and the risks of weakening currencies, this is obviously just one of the many reasons why crypto trading is popular in this East African country. Some of the Crypto exchanges operating in Tanzania include Paxful, Binance amongst others. This article seeks to list the crypto exchanges which are available in Tanzania.
Pursa is a Tanzanian cryptocurrency exchange where you can buy and sell bitcoin instantly in Tanzania using quite a number of payment methods including Airtel Money, EUR Bank Transfer, Ezy Pesa, Halotel Money, M-Pesa, MasterCard, Mobile Money, Tigo Pesa amongst other payment methods. What makes this platform popular is because it is fast as transactions can be processed in a matter of seconds. Pursa is a decentralised paltform which means that you can transact from your personal wallet to another without depositing in Pursa. The company has a great feature callled Pursa Escrow, this feature allows you to set the price at which you want instant users to buy or sell bitcoin (BTC) in Tanzania.
Paxful is popular crypto exchange in Tanzania because of the quality service it offers. The company is a Peer to Peer Bitcoin marketplace which means that it connects buyers with sellers. What makes Paxful so popular is the fact that it gives its customers a simple, fair and secure platform for trading. The downside of Paxful is that it only offers three cryptocurrencies on the Paxful platform namely Bitcoin (BTC), Tether (USDT) and Ethereum (ETH), this is just not enough because investors want to have the luxury of choosing their preffered cryptocurrencies rather than for the exchange to impose cryptocurencies to them. Paxful has a great platform which is user-friendly and allows users, be it experienced or novice users to easily trade on the platform. Paxful also have an App which is available on Android or IOS so users can trade on the go.
Remitano is an emerging crypto exchange which was founded in the year 2016 by Babylon Solutions Limited and it provides escrowed P2P Bitcoin marketplace where traders can buy and sell Bitcoin easily. Remitano is currently available in a couple of countries including Tanzania. In its initial stages, Remitano only started as a Bitcoin Peer-to-Peer marketplace but the company has now grown to include other services and the trade of more cryptocurrencies and at the moment, the company offers a total of 8 cryptocurrencies including Bitcoin, Ethereum amongst others. Remitano has a simplified User Interface unlike other crypto echange companies with imposing UI which can be overwhelming for traders. Additionally, Remitano has a friendly online customer support which is available 24/7 to assist customers. One thing that has endeared the company with investors is that it has some of the lowest fees in the industry. The main menu has some of the most important features on the Remitano platform which are Buy & Sell, Swap and Swing.
LocalBitcoins is a person-to-person bitcoin trading site which offers its services in about 200 countries including Tanzania. With LocalBitcoins, you can place a purchase or sale announcement indicating the exact amount and the means of payment you accept, or you can find an advertisement that fits your needs, so you will always have options to exchange. LocalBitcoins is a very secure platform because when a trader replies to an advertisement, a trade chat is opened and escrow protection is automatically activated. Escrow protects both buyer and seller by keeping the bitcoins safe until the payment is done and the seller releases bitcoins to the buyer. LocalBitcoins only offers Bitcoin trading, and the reason for that is because Bitcoin is borderless and independent of local political risks and it also enables financial inclusion in regions underserved by the traditional banking industry. LocalBitcoins has an affiliate program whereby users can earn Bitcoin by simply referring other users to trade with the company. You can earn Bitcoins in three ways, that is, from users who; arrive to the site through your affiliate link, register or make trades. It is important to note that a visitor will be considered as your affiliate for three months and payouts will be paid daily to your LocalBitcoins wallet as bitcoins.
BitPesa is an African cryptocurrency excahnge which was launched in the year 2013 in Kenya so the company has a wealth of experience in the crypto world. BitPesa allows African crypto traders to send or receive money from around the world at at a fee that is lower as compared to traditional money transfer services. BitPesa provides wholesale cryptocurrency liquidity for individuals and institutions across Africa. In addition to fast settlement and number of currency options, BitPesa also boasts state-of-the-art security and the deepest liquidity of an African exchange. It is important to note that the BitPesa payment platform is blockchain-based, and people enjoy trading on this platform because it has a swift transaction time, and it is cost-efficient due to the reasonable fees charged. The BitPesa blockchain technology ensures that Bitpesa offers a cheap and fast payment processing and international transactions to its users. You will be excited to know that Bitpesa supports several international and local currencies and there is a wide range of supported payment methods as well, you can make your payments using either bank transfers or 7 different Mobile money networks linked to over 60 banks across Nigeria, Ghana, Congo, Uganda, Tanzania, Senegal, DRC and Kenya.
Coindirect is a cryptocurrency exchange company which is originally from the Isle of Man and was launched recently in the year 2017. Coindirect allows or helps individuals and businesses to achieve borderless and long-term wealth creation by buying and selling cryptocurrency. The company employs 70 people and has over 321 000 users. There is variety when it comes to Coindirect because there is over 40 different cryptocurrency options to choose from among them are Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, EOD, Lumen, DAI, amongst others. Coindirect enables rapid, secure cross border payments with same day settlement options and fiat currency conversion between a wide range of countries. There are many options for depositing and withdrawing funds. Coindirect provides wallet services for all the cryptocurrency it supports. With these wallets, users can easily send, receive, and store different digital currencies on one secured platform. The good thing about selling cryptocurrencies with Coindirect is that sellers have complete control over their prices, whereas consumers have a wide range of options to choose from different cryptocurrencies.
Binance is such a mega crypto exchange where you can buy, trade, and hold 600+ cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), BNB (BNB), Dogecoin (DOGE) and Cardano (ADA). What makes Binance different is that it is not just a trading platform but its users can access several sophisticated transactions and tools including, margin trading, trailing stop-losses, and peer-to-peer trading. You will notice that Binance has very low fees, especially compared to its main rivals. The company has an easy-to-navigate trading platforms for users with any level of crypto experience. People who are not really into trading will also find Binance very useful because the company offers various ways to earn passive income, with varying degrees of risk.
CEX.IO is an entire ecosystem of products and services that allow customers to engage with the decentralized economy from various aspects. CEX.IO has a client base of over 4,000,000, the platform, and this shows that it is a crypto exchange that can be relied on.
CEX.IO is a international cryptocurrency exchange that enables traders and investors to buy, sell, borrow, and earn crypto. CEX.IO was established in 2013 and it supports over 100 digital currencies and tokens, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Uniswap (UNI), amongst others. CEX.IO is also regularly expanding the list of cryptocurrencies. Still, every cryptocurrency has to pass a thorough verification to be listed.
Coinmama is the leading cryptocurrency exchange platform to buy & sell crypto with credit card, debit card or bank transfer. Coinmama is an established, straightforward cryptocurrency exchange. It supports a small number of digital assets including Bitcoin, Cardano, and Ethereum. and doesn’t offer a dedicated crypto wallet.
Coinmama was established in 2013 and has served over three million customers around the world. The company is headquartered in Ireland, and it was founded by Nimrod Gruber, Laurence Newman, and Ilan Schuster.
Changelly is an extremely popular and successful crypto exchange that offers its customers a one-stop-shop experience because traders can purchase, sell, swapp, and trade cryptocurrencies. Changelly has a wealth of experience in the crypto industry as it was launched about 7 years ago in the year 2015. To date, Changelly has now over 2 million users worldwide and this is a very big number considering the fact that the company is just 7 years old. Changelly is what is called a non-custodial cryptocurrency exchange service, what this means is that it never stores any of your money or cryptocurrency, traders need to have their own wallets to be able to use the service. The Changelly’s trading algorithm is integrated into the largest cryptocurrency exchange platforms such as Binance and Bittrex amongst others. The company makes bids and asks on the platforms, then selects and suggests the best available rate and displays the estimated rate on our site. The rates remain approximate until the transaction is actually made on the blockchain, which is why the exchange rate at the time of a transaction may differ slightly from the estimated rate that you see when you begin a transaction. Changelly supports over 140 cryptocurrencies on the Changelly platform including Bitcoin, Ethereum and several others.