Best Crypto Exchanges for Africa: Top Paxful Alternatives in 2025

Updated December 24, 2025

Key Takeaways

Paxful shut down in November 2025, leaving millions of African users searching for safer alternatives. For buyers in Nigeria, Kenya, South Africa, and Ghana, we offer the fastest, scam-free way to buy Bitcoin. You get direct purchases with M-Pesa, cards, and bank transfers in under 10 minutes. We show transparent fees upfront (starting at 0.49%) and eliminate P2P scam risks entirely. Binance works for experienced traders who navigate complex interfaces, while Yellow Card serves users needing strict local focus. Get Bitcoin today without negotiating with strangers—we deliver instant transactions with 24/7 support in your currency.

Why Are Users Leaving Paxful?

Paxful announced it will cease all operations by November 1, 2025. The company cited “the lasting impact of historic misconduct by former co-founders” and “unsustainable compliance remediation costs” as the reasons.

After serving 14 million users across 140+ countries over ten years, the platform that once dominated African crypto access is gone. Nigerian users can still log in to withdraw funds before final closure but cannot make new trades or deposits.

But Paxful’s instability only highlighted a bigger problem: P2P platforms are inherently risky.

Over 70% of surveyed traders admitted to losing money to scams at least once. Fake payment receipts top the list—buyers send doctored screenshots of bank transfers that never arrive. Sellers release crypto too early, and it’s gone.

In one reported Nigerian case, a trader sold BTC worth approximately $5,000. The buyer made payment using bank transfer. The seller released the BTC after confirming receipt. The buyer later initiated a chargeback claiming the transaction was unauthorized. The bank reversed the transfer. The seller lost both the BTC and $5,000.

This isn’t a Paxful problem. It’s a P2P problem. When you buy from individual vendors instead of a regulated company, you’re trusting strangers with your money. Escrow services help, but they don’t protect against fake receipts, chargebacks, or social engineering.

Direct exchanges eliminate this risk. You buy from the company, not from random vendors. The platform guarantees the transaction. Your money converts to crypto instantly without waiting for someone to “release” it.

Top 5 Crypto Exchanges for Africa

I evaluated platforms based on three criteria: safety (can you trust it with your money?), speed (how long until Bitcoin is in your wallet?), and local support (does it work with Nigerian Naira, Kenyan Shillings, or South African Rand?).

1. Paybis: Best for Instant Speed and Safety

We’re the direct flight alternative to P2P hitchhiking. You buy crypto from us, not from strangers. We operate in 180+ countries and support Nigeria, Kenya, South Africa, and Ghana with local payment methods.

Speed: Bitcoin lands in your wallet in 5-10 minutes when using M-Pesa. Card transactions deliver crypto within 1 minute for verified accounts. Total time from account creation to owning Bitcoin: 10-15 minutes.

Payment methods: We support credit/debit cards, M-Pesa (Kenya), bank transfers, Apple Pay, Google Pay, Skrill, and Neteller. For Kenyan users specifically, M-Pesa integration is direct—enter your Safaricom number, confirm via SMS, done.

Fees: We show all costs upfront before you confirm. First purchase with a credit/debit card: $0 service fee. You still pay payment processing fees (4.5% for amounts over $50 in USD, EUR, GBP, or JPY) and network fees. Subsequent transactions: 0.49% service fee + 4.5% processing fee + network fee.

Security: We’re registered with FinCEN in the US and FINTRAC in Canada. We’ve operated since 2014 with zero major hacks. Our identity verification takes 2-5 minutes using automated photo recognition—upload a government ID, complete a selfie liveness check, you’re approved.

Support: We offer 24/7 live chat in 9 languages. Average response time is under 15 seconds. When your transaction fails or your account is locked, you talk to a human—not a bot that loops back to FAQs.

Trade-off: Our fees are higher than Binance’s 0.1% trading fees. But you pay for speed, safety, and support. Consider this: over 70% of P2P traders lose money to scams at least once. If you lose $500 to a fake payment scam, you’ve “saved” zero fees. If you pay $50 in fees to us and get your Bitcoin guaranteed, you’re ahead.

“I’ve been using Paybis for a while now – and it’s really nailed the ‘easy and dependable’ part for me… I just pick how much crypto I want, pay with my card (or Apple/Google Pay), and in about 10-15 minutes the coins are already in my wallet.” – Verified user review of Paybis

2. Binance: Best for Advanced Traders and Low Fees

Binance offers the widest selection of cryptocurrencies and the lowest trading fees globally at 0.1%. However, the platform faces significant regulatory challenges in African markets.

Important regulatory warnings: Binance suspended operations involving the Nigerian naira in March 2024 and has effectively been banned. In Kenya, Binance is not licensed to carry on business and does not intend to obtain regulatory authorization.

Payment methods: Binance P2P supports M-Pesa in Kenya, plus mobile money options across Africa. P2P trades have zero stated fees for takers, but vendor spreads vary significantly.

The catch: Binance is overwhelmingly complex for beginners. The homepage shows over 1,500 trading pairs, depth charts, “Spot,” “Margin,” “Futures” tabs. If you don’t know what “maker/taker fees” means, you’ll spend an hour figuring out where to click “buy Bitcoin with M-Pesa.” Customer support for Nigerian users may not be as robust.

Best for: Experienced traders who trade frequently enough that 0.1% fees matter and can tolerate regulatory uncertainty.

3. Yellow Card: Best for Local African Focus

Yellow Card operates in 20 countries including Nigeria, Ghana, Kenya, South Africa, and Uganda. The platform was built specifically for African users and focuses on mobile-first simplicity.

Licensing note: While Yellow Card operates in 20 countries, it’s currently licensed in only three: Botswana, South Africa, and Zambia. The company is seeking licenses in additional markets including Ghana and Nigeria.

Payment methods: Mobile money, bank transfer, debit/credit card, instant vouchers, and cash. Payment options depend on your country.

Cryptocurrencies: Bitcoin, Ethereum, Tether (USDT), USD Coin (USDC), and several others. The selection is more limited than our 80+ coins or Binance’s 350+ coins.

Fees: Yellow Card advertises zero trading fees but applies network fees and uses spreads to generate revenue. Deposit and withdrawal fees are country-dependent.

Trade-off: Limited coin selection and incomplete licensing. If you want altcoins beyond major assets or need fully licensed operations, consider alternatives.

4. Noones: The P2P Successor

Paxful co-founder Ray Youssef became CEO of Noones, a peer-to-peer platform launched in 2023. The platform has surpassed 2 million users globally as of January 2025.

Markets: Noones’ biggest markets are Nigeria, Ghana, Cameroon, India, and Philippines.

Payment methods: Over 500 payment methods including mobile money, bank transfers, and cards.

Cryptocurrencies: Bitcoin, Tether (USDT), and USD Coin (USDC).

The catch: Noones inherits the same scam risks as Paxful. It’s a P2P marketplace—you’re buying from individual vendors, not the company. Fake payment receipts, chargebacks, and social engineering attacks still apply.

Best for: Users who understand P2P risks and have experience vetting vendors.

5. Remitano: Established P2P Option

Remitano operates in Nigeria, Kenya, South Africa, Ghana, and 30+ countries worldwide. The platform has been a long-standing P2P option in African markets.

Payment methods: Bank transfers and mobile money including M-Pesa in Kenya. Remitano supports Nigerian Naira (NGN) and South African Rand (ZAR) with local payment methods.

Cryptocurrencies: BTC, ETH, USDT, BCH, with limited P2P availability for LTC, XRP, and BNB.

Fees: Makers pay 1% fee while takers pay 0%. Bank transfers for NGN and ZAR are free.

Trade-off: Slower speeds due to manual vendor releases. Transaction duration varies from minutes to several hours depending on vendor responsiveness.

The pattern is clear: Direct exchanges (Paybis, Yellow Card) deliver consistent speed and eliminate P2P scam risk but charge higher fees. P2P platforms (Binance P2P, Noones, Remitano) offer lower stated fees but expose you to vendor fraud, payment reversals, and unpredictable wait times.

How to Choose the Right Exchange in Nigeria, Kenya, and South Africa

Security and Trust

Identity verification (called KYC or Know Your Customer) is how legitimate platforms keep scammers out and protect your account. Every regulated crypto platform in the US, Canada, and EU must verify your identity by law.

We’re registered with FinCEN as a Money Services Business and hold registration with FINTRAC in Canada. We ask for ID because we’re a regulated business operating legally, not a shady offshore site that disappears with your money.

Our verification is handled by Sumsub, which accepts passports, driver’s licenses, residence permits, and government-issued ID cards from over 220 countries. For standard purchases under $20,000, you don’t need proof of address or bank statements.

P2P platforms provide escrow services—the seller transfers crypto to the platform, which holds it until payment is confirmed, then releases it to the buyer. But escrow doesn’t protect against fake payment receipts, chargebacks after release, or social engineering.

Direct exchanges eliminate this risk entirely. You’re not trusting a stranger—you’re trusting a registered company.

Payment Methods and Currencies

Africa is not a monolith. Payment systems that work in Nigeria don’t work in Kenya. Local currency support matters.

We support 50+ fiat currencies including Nigerian Naira (NGN), Kenyan Shillings (KES), South African Rand (ZAR), and Ghanaian Cedi (GHS). For Kenyan users, M-Pesa integration is direct—select M-Pesa as your payment method, enter your Safaricom number, confirm via SMS, and Bitcoin lands in your wallet in 5-10 minutes.

Yellow Card focuses specifically on 20 African countries with local payment method integrations. Binance offers M-Pesa and various mobile money options through its P2P platform where available.

The question isn’t “which platform is best?” It’s “which platform works in my country with my payment methods?”

Ease of Use (Mobile First)

Over 78% of users access crypto services via mobile apps. Interface complexity directly affects whether you complete your first purchase or give up.

Our mobile app has a 4.6-star rating on both iOS and Android. One user on Trustpilot summarized the experience:

“Paybis offers transactions in a quick and easy format with thorough security measures. I’ve been using their app for quite some time and have had no issues.” – Verified user review of Paybis

Binance’s app requires understanding trading modes, spot vs. futures markets, and order types. For experienced traders, this is fine. For first-time buyers, it’s overwhelming.

If you want to buy Bitcoin on your phone in under 10 minutes without watching tutorial videos, we deliver.

Step-by-step: How to Buy Bitcoin Instantly in Africa

Here’s the exact process using Paybis from account creation to owning Bitcoin. Total time: 10-15 minutes.

1. Select Amount and Payment Method

Visit paybis.com or open our mobile app. Our calculator shows: “You send [amount in NGN/KES/ZAR] → You get [amount in BTC].”

Our calculator uses real-time market data and updates instantly. Fees are displayed before you confirm: service fee (0% for first purchase with card), payment processing fee (4.5% for cards over $50), and network fee.

2. Verify Your Identity (2-5 minutes)

Upload a government ID and complete a selfie liveness check. Our automated system approves most users in 2-5 minutes. For standard purchases under $20,000, you don’t need proof of address or bank statements. US residents need SSN or ITIN.

3. Enter Payment Details and Complete Purchase

If paying with a card, enter card details and complete the 3DS security check on your phone. If using M-Pesa in Kenya, enter your Safaricom number and confirm via SMS.

Minimum transaction: $5 USD or 0.00001 BTC. Maximum for card purchases: $20,000 per day or $50,000 per month.

4. Receive Bitcoin in your wallet (5-10 minutes)

Bitcoin lands in your wallet in 5-10 minutes when using M-Pesa. Card transactions deliver crypto within 1 minute for verified accounts. We send you an email confirmation with a blockchain explorer link showing your transaction.

You can withdraw cryptocurrency to an external wallet anytime, or deposit cryptocurrency from external wallets to your Paybis wallet.

One G2 reviewer described the experience:

“I appreciate Paybis for its ability to facilitate instant cryptocurrency purchases using my card, which significantly enhances the efficiency of my transactions.” – Verified user review of Paybis

Safety First: Avoiding Scams on P2P vs Direct Exchanges

The difference between P2P and direct exchanges isn’t just speed or fees, it’s who guarantees your transaction.

How P2P Escrow Works (And Where it Fails)

P2P platforms use escrow services. The seller transfers crypto to the platform, which holds it until payment is confirmed, then releases it to the buyer.

This protects against the seller disappearing with your money. But it doesn’t protect against:

Fake payment receipts: A buyer sends you a convincing screenshot showing a “successful transfer,” but the money never arrives. By the time you realize it, you’ve already released your crypto through the escrow system.

Chargeback fraud: Even after escrow releases funds, buyers can initiate chargebacks with their banks, reversing the payment while keeping the cryptocurrency. The earlier example of the $5,000 Nigerian BTC sale loss demonstrates this risk.

Social engineering: Scammers manipulate sellers into releasing crypto before proper payment verification through pressure tactics or fake urgency.

How Direct Exchanges Eliminate P2P Risk

When you buy from us, Yellow Card, or any direct exchange, you’re not trusting a random vendor. You’re trusting a registered company.

We own the crypto inventory. When your payment is confirmed, the crypto is released automatically, no manual vendor approval required.

If a transaction is rejected for security reasons, your funds return to your account automatically with zero charge. Sometimes we reject transactions to keep our platform secure, like how your bank declines a suspicious charge to protect you. Rejected transactions may be reversed per compliance and payment provider rules.

The trade-off is higher fees. But if you lose $500 to a fake payment scam, you’ve “saved” zero fees by using P2P. If you pay $50 in fees to us and get your Bitcoin guaranteed, you’re ahead.

Ready to buy crypto without the stress? Create your account with us, verify your identity in 2 minutes using M-Pesa or your card, and see the exact total cost at checkout with fees starting from 0.49%. Your Bitcoin arrives in 5-10 minutes, guaranteed by a FinCEN-registered company, not a random stranger.

Key Terminology

P2P marketplace: A peer-to-peer platform where individual buyers and sellers trade cryptocurrency directly with each other rather than through a centralized exchange. The platform typically provides escrow services to hold funds during the transaction.

Fiat currency: Traditional government-issued money like Nigerian Naira (NGN), Kenyan Shilling (KES), South African Rand (ZAR), or Ghanaian Cedi (GHS). Unlike cryptocurrency, fiat currency is backed by a government.

KYC: “Know Your Customer”, a mandatory process for identifying and verifying the identity of clients. This usually requires uploading a government ID and completing identity verification to prevent money laundering and terrorism financing.

Escrow service: A third-party service that holds cryptocurrency or funds during a transaction until both parties fulfill their obligations. However, escrow doesn’t protect against fake payment receipts or chargebacks after release.

Network fee: The cost miners charge to confirm transactions on the blockchain. It varies based on network congestion and is applied per transaction regardless of amount. Platforms don’t profit from this, it’s a pass-through cost.

M-Pesa: Kenya’s mobile money transfer service operated by Safaricom. It’s the most popular payment method in Kenya, used by the majority of the population for everyday transactions including cryptocurrency purchases.