Crypto on-ramp platforms are the gateways into the crypto network. They are platforms, usually exchanges or digital trading service providers, that allow prospective users to use their fiat currency to buy crypto assets such as utility tokens and coins or Non-fungible tokens (NFTs). Think of them as the beginning of every crypto holder’s journey. So, if you’re an African and want to try the ‘crypto thing‘, you’ll want to use any of the best crypto on-ramp platforms in Africa.

The International Monetary Fund reports that Africa is one of the continents with the fastest-growing crypto markets. The Policy Center For the New South (PCNS) did a study and found that the estimated value of crypto owners across 33 countries is 55.3 million. These statistics prove one thing – new people buy crypto all the time, especially in Nigeria, Kenya and South Africa. No wonder crypto on-ramps are rampant in Africa.

Why are crypto on-ramp platforms important? Because without them, nobody would be able to get their hands on crypto assets. Without new users and holders, the trading volume would reduce, which would generally be bad for the crypto ecosystem.

Read more: The Difference Between Crypto On-Ramps and Off-Ramps.

5 Best Crypto On-Ramp Platforms in Africa

With the ever-growing number of crypto users in Africa, many on-ramp platforms are catering to the needs of prospective crypto owners. But which ones are the absolute best for easy on-ramping?

  • Luno
  • Binance
  • Yellow Card
  • Paychant
  • BuyCoins

 

1. Luno

Features

  • Security includes multi-layer encryptions and multi-signature wallets to store and trade crypto.
  • Supports Bitcoin, Ethereum, and Litecoins.
  • Supports African currencies like the Ugandan shilling, Nigerian naira and South African rand for on-ramping.
  • Supports trading.
  • Allows users to send/receive crypto across wallets.
  • Luno API for developers.

Fees and Limits

  • Deposit fee is free.
  • 2% fee on buying/selling.
  • Send fees vary depending on network traffic.
  • Service charge per transaction is variable.
  • Deposit limit for level 1 is N200,000 for Nigerian users. The limit for level 2 is N500,000. Level 3 is limitless.

How to Use Luno as a Crypto On-Ramp Platform

  • Download the Luno app from Apple or Google Play Store.
  • Sign up for a Luno account.
  • Go to your profile. Select settings and select verification. Verify your account by following the prompts.
  • Fund your account by selecting Wallet from the menu.
  • Open your Naira wallet and choose Deposit to begin. Follow the prompts you’ll receive to make a deposit into your account. Usually, you’ll be required to buy vouchers and redeem them on the app to fund your wallet.
  • To buy crypto, go to Wallets, and choose the wallet for the token you wish to buy.
  • Click Buy at the top of your screen in your chosen wallet. Note that you can buy once or set up a Repeat buy.
  • For a once-off purchase, choose the amount you want to buy and click on Next.
  • Click on Confirm after you’ve reviewed the transaction details, which include the service charge. There, you’ve gotten some crypto.

 

2. Binance

Features

  • Supports deposit of over 20 fiat currencies via bank transfer and credit/debit card to buy crypto (on-ramping).
  • Uses 2FA for security.
  • Supports African currencies of Liberia, Mauritius, Nigeria, South Africa, Cape Verde, Gambia, and Sierra Leone for on-ramping.
  • Supports Bitcoin, Ethereum, bitcoin, dogecoin and its own token, BNB.
  • Allows users to trade, buy/sell, and swap crypto for crypto or fiat.
  • Rest API for developers.
  • P2P trading.

Fees and Limits

  • Deposit fee is free for all African countries.
  • Service charge varies by transaction.
  • 5% Instant buy/sell fee
  • Withdrawal fee is dependent on the cryptocurrency being withdrawn.

How to Use Binance as a Crypto On-Ramp Platform

Here’s how you can use Binance to buy crypto with your local currency.

  • Download the Binance app via Apple or Google Play Store. You can also access the platform on your browser.
  • Create your account or log in if you have one already.
  • On the homepage, click Buy Now. or Buy Crypto.
  • Choose your currency from the menu and enter the amount you want to use to buy crypto, and click Continue.
  • Choose a favourable payment method from the options available to your region and click Continue.
  • Check the transaction details and click Confirm. Note that you have one minute to confirm before the price is automatically recalculated in line with the volatile market prices.
  • There, you have your crypto.

3. Yellow Card

Features

  • Support buying/selling of crypto with crypto or fiat currencies.
  • 2FA security protocol.
  • Supports Bitcoin, Ethereum, Solana, Cardano, and USDC.
  • Supports 16 African countries, including Nigeria, Kenya, Rwanda, South Africa, and Uganda, among others.
  • Allows users to trade, buy/sell, and swap crypto for crypto or fiat.
  • Users can send/receive crypto.
  • Deposit is made using a cashout voucher.

Fees and Limits

  • Deposit fee is free.
  • Withdrawal fee is free for Nigeria and some other African countries. For some, it attracts a little token.
  • Zero trading fees.

How to Use Yellow Card Crypto On-Ramp Platform

Here’s how to buy crypto with your local currency on Yellow Card.

  • Download the app for Android or iOS on Google Play or Apple Store.
  • Sign up for an account.
  • Fund your local wallet by clicking on Deposit on the homepage. Choose a payment method and enter how much you want to deposit. Follow the instructions to complete your wallet funding.
  • Go to your dashboard and tap Buy. Choose the cryptocurrency you wish to buy, enter the amount you want to pay in your local currency, and click Next.
  • Review the transaction details and click confirm.
  • Your chosen crypto wallet will be funded with the amount you paid for.

 

4. Paychant

Features

  • On-ramp/off-ramp services for African users to buy/sell crypto with/for fiat.
  • Supports 6 African countries, including Nigeria, Ghana, Kenya, Uganda and Zambia.
  • API for developers.

Fees and Limits

  • 5% processing fee to buy crypto (via bank transfer).
  • 3% processing fee for selling crypto.

How to Use Paychant Crypto On-Ramp Platform

  • Go to paychant.com.
  • On the homepage, click on Buy Crypto.
  • On the right side of your PC screen, you’ll see a window to choose the cryptocurrency you want to buy.
  • Select the one you wish to buy from the list of assets. Then select your local currency and the amount you want to deposit.
  • Select Bank transfer or any payment method supported in your region and click Buy now.
  • Follow the prompts on the page to complete your KYC. Note that you might be required to take a selfie.
  • Input your wallet address and proceed to make your payment.
  • Your assets will be sent to your wallet once you complete your payment.

 

5. Buycoins

Features

  • Features Buycoins Pro for USDT traders and Buycoins Basic (now partners with Accrue).
  • Carters to users in Nigeria and Ghana at the moment.
  • Allows users to buy/sell USDT with naira.
  • Allows order-book trading.

Fees and Limits

  • Transaction fees vary according to the amount of crypto leaving your Buycoins wallet.
  • Maker and taker fees apply.
  • There are three levels and different limits for each. Tier 0 cannot carry out any transaction. Tier 2 has a limit of N50,000 for both buying and selling crypto monthly. Tier 3 has no limit on the amount you can buy or sell.

How to Use the Buycoins Crypto On-Ramp  Platform

  • Go to the website.
  • Create an account.
  • Follow the prompts to complete your verification.
  • Fund your wallet with naira and buy USDT according to your limit.

Read more: Top 5 Best Crypto Off-ramp Platforms in Africa

Factors to Consider Before Choosing A Crypto On-Ramp Platform.

  1. Supported countries: Ensure the platform you choose supports your country and local currency; otherwise, you risk losing money.
  2. Security: Does the platform protect your assets after you’ve bought them? Is your account well protected from hacks and thefts? Check out the platform’s security protocol before you engage.
  3. Fees: There are many platforms with different fees. Compare your prospective choices and choose the one with the lowest rates.
  4. Supported cryptocurrencies: Ensure the platform you choose supports the assets you’re interested in.
  5. Payment method; Check to see what payment methods are available to your region/country. You don’t want to get stuck trying to fund your wallet via credit/debit cards because your preferred platform only supports Bank transfers.

 

Final Thoughts

Most exchanges focus on helping or allowing their users to trade in crypto. But without on-ramps, there will be a shortage of crypto to trade. Onboarding the cryptocurrency networks is easy with any of these top 5 best crypto on-ramp platforms in Africa. These platforms are breaking bounds and allowing more Africans to own crypto easily.

Do your due diligence to prevent using phishing sites or platforms that do not offer on-ramp services. Africa is on the way to the frontline of cryptocurrency ownership. You could be part of the movement. These platforms are here for you.