10+ Best African Cryptocurrency Projects of 2024 – Trending Africa Tokens

The now thriving economy of Africa makes it the right place for many cryptocurrency projects to prosper. Getting access to tokens is easy since crypto has a major role in running multiple foundations in the region.

With that in mind, we review in this guide the 10 best African cryptocurrency projects with huge upsides and ever-increasing market awareness. We also shed light on why these cryptocurrencies have much potential to thrive in Africa.

Best African Cryptocurrency Projects to Invest in – Overview

Read to know how these listed cryptocurrencies are gaining more traction in Africa and can prove profitable for Africa-based cryptocurrency traders in the upcoming years.

A Thorough Look at the Best African Cryptocurrency Projects to Invest In

Africa has slowly become a breeding ground for multiple cryptocurrency projects. However, the ones that are truly worth your time and investments are those with major upsides across the globe.

Therefore, do thorough research by digging deep into the whitepaper of each project. Try to discern its future potential and have a realistic view of its roadmap. Taking care of these three things is a must before choosing a cryptocurrency to invest in.

We emphasize them because that’s what we have gone through to bring you the best African cryptocurrency projects to invest in – and here is a brief review of them.

Pepe Unchained – Popular African Crypto With a Growing Community

The African memecoin community recently seemed to be flocking to a brand new project, Pepe Unchained, ever since it launched its presale while boasting a theme similar to the top memecoin Pepe. Launched recently, the project has already managed to grab the attention of retail investors as well as major crypto websites and YouTube channels in the space.

Themed around the popular Pepe project, Pepe Unchained describes itself as a better, enhanced version of the original token. The idea behind Pepe is to use Layer 2 solutions to make transactions faster, cheaper, and easier for users. This is portrayed in a humorous, story-like manner, which has also been largely embraced by the investor base.

The meme-like theme already appeals to the memecoin community, but developers have also managed to add an exciting element to the mix, which is its integration with a strong use case. While there is no product that has been built on the project yet, this may be a possibility in the future, which may also be a reason why investors are bullish on the project at the moment.

Now, when it comes to memecoins, African investors usually show some skepticism. However, given the increasing popularity of the Pepe token and the fact that it recently reached its all-time high, the community of Pepe in Africa is highly active. This is being speculated by the Pepe Unchained project to spill into more demand for the Pepe Unchained’s PEPU token as well. With staking facilities and excellent tokenomics that support sustainability, the project can surely be considered an excellent memecoin worth investing in right now.

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Flockerz – DAO-Driven Meme Coin Project in Africa

A flock of hens running a kingdom and creating magic is not something often seen in meme culture. However, Flockerz has done so with style, which could help it go big on the African cryptocurrency scene.

A meme coin project designed to give the community complete control, Flockerz introduces a unique Vote-to-Earn mechanic. While it works like a standard DAO, allowing users to vote on the project’s future, there is also an earning element added to it, making participation in the ecosystem more rewarding.

In addition to these perks, Flockerz also introduces standard staking rewards, giving investors who participate both before and after the presale a way to generate passive gains.

These benefits can encourage long-term holding, but Flockerz’s unique imagery could make it go viral quickly. Out of the total supply, 25% has been allocated to the DAO vault to reward users, indicating the value Flockerz places on the community.

Therefore, it could be considered one of the best African cryptocurrencies on the market.

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FreeDum Fighters – Trending Politifi Crypto With a Creative Design Concept

FreeDum Fighters has become a hit among African investors, creating an image for itself as a crypto project with immense potential. While the design focuses on American politics, with characters like Magatron and Kamacop drawing from well-known U.S. figures, its appeal goes far beyond national boundaries. This memecoin taps into universal themes of political debate and engagement, making it relevant to Africa’s vibrant and politically aware crypto community as well.

One of the many reasons African investors are paying attention to FreeDum Fighters is its unique staking mechanism. The system isn’t just about locking up tokens—it’s about using strategy. Investors can cast their votes by staking tokens on either Magatron or Kamacop, with dynamic APYs that rise for the less popular candidate. This feature introduces a game of calculated risk and reward, something that aligns well with the innovative mindset of many African traders looking to maximize returns.

Another aspect that makes FreeDum Fighters intriguing is the debate-based rewards system. Every week, participants can join discussions on current affairs, social issues, or economics, earning DUM tokens through airdrops by winning these debates. This format of engagement could easily translate to discussions relevant to Africa, making the token more than just an investment—it’s a way to be part of important conversations while earning rewards.

Despite its American-themed design, FreeDum Fighters’ broader focus on community-driven investment opportunities, combined with a fun, interactive ecosystem, makes it a strong candidate for African investors looking for something fresh and engaging. As its presale continues, this could easily be one of the more interesting cryptos to watch in the African market, especially given the current global political scenario and its influence on global markets.

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Best Wallet Token – High Potential Wallet Crypto With Diverse Features

For African investors seeking a good crypto investment, Best Wallet Token offers practical features tailored to both new and experienced users. Tied to Best Wallet, a platform compatible with over 60 blockchains, BEST simplifies crypto management by allowing users to handle diverse digital assets and DeFi activities securely from one application. This multi-chain capability offers African investors the flexibility to explore a variety of assets and opportunities from a single, convenient interface.

The current BEST presale provides a chance to acquire the token at a reduced price, enabling early investors to participate before it enters public trading. Holders of BEST gain unique benefits, including reduced transaction fees across the platform, which is beneficial for those regularly managing different tokens. BEST holders also receive priority access to new presales on Best Wallet’s aggregator, allowing for early involvement in promising projects.

The Best Wallet Token’s staking rewards feature above-average APY rates, presenting an option for African investors interested in passive income growth while supporting the platform. As a governance token, BEST empowers users with voting rights on platform developments and future updates, offering a direct role in shaping the direction of Best Wallet.

BEST is designed to meet practical needs and foster long-term value for its holders. With a focus on secure, streamlined asset management, BEST gives African investors a resourceful tool for navigating the expanding crypto space, featuring ease of use with strategic benefits that can enhance the overall investment, especially in a booming category of cryptos like wallet cryptos.

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Crypto All-Stars – Leading Meme Coin with High Potential to Grow in Africa

When it comes to the African meme coin landscape, there are few tokens that could attract investors’ attention as much as Crypto All-Stars. This project necessarily brings all the top meme coin communities together on a pixelated plane in hopes of unlocking their viral potential.

However, the true potential of this project lies in its unique use case – staking. This is not standard staking but a way to generate interest across the crypto market by inviting investors of top meme coins to stake their Dogecoins, Turbo tokens, Shiba Inus, or Pepe to Crypto All-Stars’ ‘MemeVault’ and earn $STARS tokens.

This could be of great value among African investors looking for cheap meme coins to invest in while still gaining the potential for huge upsides due to Crypto All-Stars’ ability to bring the communities together.

Furthermore, investors are also invited to participate in the presale and stake their tokens while they buy STARS to compound their gains.

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Shiba Shootout – Cowboy-Inspired Memecoin Growing Popular in Africa

The desert-esque frontier of Shiba Shootout works well to mirror the deserts of South Africa. Even though cowboys aren’t native to the region, there is more than enough in this participatory token for it to become a leading African cryptocurrency project.

Shiba Shootout (SHIBASHOOT) is a meme coin that takes a utility-based approach to the meme coin niche. It has an interesting backdrop focused on “Shiba Gulch,” a town in the heart of the desert filled with a saloon, cowboys, and gunslingers looking to make a mint.

With characters like Marshal Shiba and Shiba Sharpshooters as the project’s highlights, Shiba Shootout is shaping up to be an interesting crypto project. Its utilities aren’t limited to simple passive gains like staking. Interesting perks are emerging from its belly, including saddlebags, which offer savings, lucky lasso lotteries (a unique type of giveaway), cactus staking, and even a P2E game that alters the paradigm of what it means to be a meme coin.

99Bitcoins, one of the leading crypto YouTubers has already talked about how Shiba Shootout can potentially generate profits for all those get in early.

With a total supply of 2.2 billion, Shiba Shootout has raised upwards of $500k during its presale already. Available at a discount price, the tokens are going off fast. Therefore, those looking for a good African cryptocurrency project to invest in should pay heed to this cowboy-style meme coin.

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Cardano – A Cryptocurrency Project Aiding Multiple Organizations in Africa

Cardano became one of the most successful Ethereum-based blockchains after it climbed up the crypto charts to reach the 11th position in the 2021 bull market. While the token has since gone through many ups and downs since then – because of the double-crashes of 2022 – it remains one of the best cryptocurrencies for African investors.

Cardano is one of the most prominent “Ethereum Killers” that was poised to deal with the scalability issues of the Ethereum blockchain. As a result, this platform is much more efficient in terms of fees and speed than Ethereum – so much so that even the post-merge Ethereum has barely matched this platform’s level of efficiency.

Designed by a Hong Kong-based blockchain firm, Output Hong Kong, Cardano exists to deal with the long-standing issues plaguing the current blockchains. As such, this platform’s primary function is to identify the traceability and management of a cryptocurrency transaction. And its ability to manage the streamline and simplify processes that need multi-source data have made Cardano one of the top 20 cryptocurrencies to invest in right now.

Furthermore, Cardano has launched a Crypto Charity foundation in Africa with the help of its Rwanda-based NGO partners. With this project, ADA donations can reach directly to NGOs based in Africa without the need for intermediaries. That helps with the ethical dissemination of donated amounts – without any third party stealing the money midway – and ensures that the NGO goals are met quickly.

Additionally, Cardano is investing in African blockchain to eradicate land fraud in the region. Charles Hoskinson, Chief of the firm responsible for the creation of Cardano, has also come out and said that it would establish community-led Cardano training that aims to train 5000 people in 25 African countries.

However, because of the expanding Cardano ecosystem in Africa, ADA is one of the best tokens to trade in the region. The established foundations are continually creating crypto-ready Africans who have dived into the crypto space and generated a hefty profit from it.

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Bitcoin – Legal Tender Applicable in Central African Republic

Bitcoin – the oldest cryptocurrency in the world, is also one of the most popular crypto assets in Africa, and the reasons are many. Governments in the region think of Bitcoin as a way to hedge against traditional markets – leading to countries like El Salvador and the Central African Republic using Bitcoin as a legal tender.

That decision to make Bitcoin – a volatile asset class – one of the main currencies in the region – was met with apprehension by the International Monetary Fund. That said, the native currencies of El Salvador and many African countries have been in the hyper-inflationary stage for decades, leading them to invest in a crypto asset that lets them be financially independent.

That is the reason why Bitcoin is also one of the most traded cryptocurrencies in the region. Furthermore, Bitcoin is also used as a remittance tool allowing people to send and receive money to and from across borders.

Additional issues with this cryptocurrency also need to be addressed since the proof-of-work consensus mechanism it relies on is anything but eco-friendly. That has led many countries and certain states in the US to put a ban on mining Bitcoin. But that hasn’t stopped South Africans from considering buying Bitcoin a great way to sustain themselves in the current socio-economic conditions.

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Stellar – Helping the Unbanked in the Region

Stellar is a 2014-formed cryptocurrency project that was designed to “bank the unbanked”. For that reason alone, Stellar is considered one of the best African cryptocurrency projects. This DeFi crypto makes handling and transferring money easier for Africans who don’t yet have good core banking and financial services.

Stellar is aiming to build a good infrastructure throughout Africa to connect people to a blockchain-based financial system that is transparent, secure, and enables fast and scalable transactions.

It takes Stellar transactions take 4 to 5 seconds to confirm – making it one of the fastest cryptocurrencies in the market.

Stellar has also gone ahead and has placed a closer to no-fee approach for micro-transactions that are done in terms of its native token – Lumen.

Despite the less-than-optimal performance, Stellar’s contribution to Africa’s financial ecosystem makes it one of the best African cryptocurrency projects to invest in. It is leveraging its great fundamentals and combining them with people’s interest in crypto to move forward. And the recent charts are showing easy signs of uptrend – which may mean that this crypto will grow further in 2024.

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Ripple – Offering Next-Gen Payments technology in Africa

Next up is Ripple. It is a DeFi Crypto created in 2012 to help investors gain access to global monetary systems. And that’s one of the reasons behind this cryptocurrency’s importance for African banks and financial institutions. Ripple offers them a way to access a good level of liquidity when trading outside the country.

Unlike traditional banks, where overseas transactions first must go through a central bank, be approved, and then complete, Stellar leverages its distributed ledger network to do the job. Through this approach, all banks – including the ones situated in Africa – can transfer any currency across the globe by paying only a small amount of transfer fee. And “small” is the operative word here, as Ripple only charges a fraction of a cent to do the job.

That minuscule transaction fee is achieved using XRP – the native crypto of Ripple. XRP forms a bridge and allows all transactions going through Ripple to be validated within seconds.

Ripple is a scalable blockchain – capable of executing close to 1500 transactions in a second. That scalability has resulted in more than 200 financial institutions partnering up with Ripple, including Bank of America, PNC Bank, Standard Chartered Bank, Santander Bank, and more.

In Q4 2022, Ripple expanded into Africa as it partnered with MFS Africa to facilitate crypto-enabled payments in the region.

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Monero – Favorite crypto of Privacy-Seeking Africans

As we near ending the list, next in our catalog of the best African cryptocurrency project to invest in is Monero. It is a favorite cryptocurrency for African investors that covet privacy above all else. Monero allows faceless transactions, allowing people to send and receive funds without having to divulge any personal details – like it is common in the case of sending and receiving other altcoins, like Bitcoin and Ethereum through CEXs.

Monero is one of the few cryptocurrencies in the ecosystem that facility anonymous transactions – a big factor in a space that has started to become even more restrictive by the day. In Monero, a person’s identity is tied to their transactions – which includes the wallet address and the amount of money transferred. Monero also prohibited users from viewing the transaction histories of other wallets.

Monero peaked in 2021 and reached upwards of $450 before a retrace. It then continued to trade in volatile zones before dropping massively because of the two crashes in 2022. As a result, this token has been able to stay above the $100 mark – just barely. And the latest chart for the year 2024 shows massive signs of recovery – but how long that will persist is something we must watch and see.

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Akoin – Popular Crypto from RnB Artist Akon

Akon is one of the most altruistic stars to date who, in a bid to make things better in his home country, left the music industry. Aiming to bring technological advances and create better economics in Africa, Akon created Akoin, an African cryptocurrency project.

The project aims to develop a single currency that supports the entire continent. It is a step mandatory, according to Akon, as there are over 40 fiat currencies in the region and all of them suffer from hyperinflation. Also, accessing liquidity from the global economy is difficult for this currency. Akoin is being planned to work along with the futuristic city that Akon has been building in the nation – which many have said is akin to real-world Wakanda.

Akoin is envisioned as the native cryptocurrency of this city. However, the current performance of this cryptocurrency is not great. The token got listed on CoinMarketcap in late 2020 and peaked at its all-time high of $0.50 soon after.

The token then continued to retrace and CoinMarketCap has now delisted Akoin.

Intra-day charts show that the token is hardly being traded on cryptocurrency exchanges. However, for those who still believe in the vision of a technologically-advanced African city, Akoin remains a suitable crypto to invest in.

Uniswap – A Decentralized Exchange Enabling Africans to Crypto Trade Worldwide

The final crypto on our list is a well-known cryptocurrency project, the world’s biggest decentralized exchange that, while not based in Africa, allows them to trade on the platform without any hassles. It is Uniswap.

Uniswap is a leading decentralized cryptocurrency exchange that allows crypto swapping without the need for the KYC requirement. There is no need to log in or register an account as well – which makes Uniswap the best crypto trading platform for veteran traders who don’t want to divulge their identities.

This cryptocurrency exchange works amazingly for countries like Africa since there is a severe lack of KYC documents in the region. The socio-economic conditions of African countries have led many that live in rural (and sometimes urban) areas not to have access to traditional government-issued IDs or other conventional forms.

For that reason alone, Africans would find Uniswap a suitable exchange for trading their cryptos. Created on the top of the Ethereum blockchain, Uniswap plays host to most Ethereum-based cryptocurrencies – ERC 20 tokens – like MANA, USD Coin, AAVE, Shiba Inu, and more.

Uniswap is also one of the best passive income generation platforms for African traders. Since it is a decentralized exchange, it relies on its traders to top up its liquidity pools. And in return, these traders earn staking rewards. Uniswap is also a great platform for DeFi developers who want to create apps – the platform provides everything they need to help them get started.

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History of Crypto in Africa

Africa has always been about finding another way to become financially independent. Since the country has always been on the receiving end of bad economic conditions because of fiat currencies that often hyper-inflate with low liquidity, African people have been quite bullish about accepting cryptocurrencies.

Chainalysis reports that Africa has one of the fastest-growing cryptocurrency markets in the world, that in mid-2021, rose to $20 billion per month.

However, things aren’t on the same page when it comes to the government side of things.

1. On one end, there are countries like the Central African Republic, which became the second nation to accept Bitcoin as a legal tender. It was the first move by an African nation to put crypto into the mainstream. That allows people to buy and sell goods using BTC and pay taxes using the same.
2. However, other nations of the continent aren’t fully accepting of this fact and are actively bullying against it. And after the FTX crash, many Sub-Saharan countries – 20% of them – have banned crypto assets. Furthermore, the Central African Republic’s decision to recognize Bitcoin as a legal tender has led many organizations, such as the Bank of Central African States and the Economic and Monetary Community of Central Africa, to go against it.

Rising Calls for Regulation in African Crypto

FTX crash has led many cryptocurrency enthusiasts to increase the demand for regulating the cryptocurrency space. And that voice has become louder after SBF posted a bail of $250 million.

African traders, too, have started to ask for more regulations since this volatile asset class doesn’t provide a safety net for most traders.

Is it good to Invest in African Cryptocurrency Projects?

Cryptocurrencies are a volatile asset class, capable of giving users parabolic gains while also causing them massive losses at the same time. Therefore, the crypto space is one that needs to be tread inside lightly.

However, as long as you are aware of the market risks and understand and make decisions based on analyzing the market conditions before investing, there are many benefits to investing in African cryptocurrency.

It is a way to Hedge against Traditional Currency

Zimbabwe and certain other countries have had to struggle with the hyperinflation policies of their governments. It is primarily due to civil unrest in most African countries.

As a result, civilians and certain government bodies look towards bitcoin and other cryptocurrencies as a way to hedge against their fiat’s failing economics. One example of that is the Nigerian Naira. The value of this fiat currency has dropped continuously since it started and is currently at its all-time low. At the time of writing, the Nigerian Naira is worth 0.0022 USD.

African Cryptocurrency Can Protect Against Inflation

The inflation issues in Africa have always been in peak conditions. It has led to many common people to lose their savings as they are devalued after some time. That has led African people to turn to crypto assets like Bitcoin. While the token in itself is volatile, it is still more valuable than the country’s native fiat currency.

Providing Money Saving Options for the Unbanked

World Bank says that more than 350 million adults in the Sub-Saharan African regions are unbanked. It reflects the lack of core financial services in the region.

That takes African people to look at the best African cryptocurrency projects since there are some in the market – like Stellar – that are capable of solving this issue using blockchain technology. To this day, Stellar is continually supporting Africa to build blockchain facilities in the region.

With Stellar, cross-border payments are possible in a matter of seconds. There is no heavy fee involved – as most transactions are done for less than a cent. Furthermore, a private crypto wallet offers a much better and private option for Africans to store their crypto assets.

Cross Border Remittance at low fees

Remittances to Sub-Saharan Africa have increased by 5.2% and now stand at $53 billion. Global headwinds and inflation has had little to no impact when it comes to remittance. However, that presents more issues since the cost of remitting – sending currencies – to sub-Saharan countries can be too much for some.

The average cost of sending money, say $200, to an African country is 8.2%.

Comparatively, using something like Stellar reduces those costs to closer to nothing.

An additional perk of using African cryptocurrencies for remittance is that the transfer speeds are high. No longer will African traders need to wait for days for their money to come to them.

An Additional Source of Wealth for African People

The socioeconomic and job conditions of the African nations are not better. People do everything they can to make ends meet – which is why growing wealth is something difficult for them. Cryptocurrency provides an outlet.

Whether it is trading cryptos on the open market through a decentralized exchange, staking cryptos, or participating in M2E and P2E ecosystems, the options to generate wealth in the cryptocurrency space are many.

Readers may also be interested in our guide to Dubai crypto projects.

How to Buy African Crypto

The projects that African people can invest in right now are on presale. They give early mover opportunities and a chance to make massive wealth for all traders. And considering the types of projects we have covered, money-making opportunities like purchase bonuses and giveaways are also available to all.

Step 1 – Create a Crypto Wallet

For those wanting to invest in in an African crypto, setting up a crypto wallet is a must. The options of wallets to choose from are many, but the best ones that our experts suggest include Metamask or Trust Wallet.

To download the Metamask wallet, go to its official website and download it on the phone or your browser extension. Then proceed to follow the instructions that you see on the platform and complete the process. Note down your password and the 12-word seed phrase when the options come to you.

Step 2 – Buy USDT or ETH

You can buy tokens using USDT or ETH. Therefore, your wallet should first have one of these cryptos before you go to the official website. Go to a cryptocurrency exchange that offers crypto assets at a low fee, like Binance, and buy USDT or ETH. Your bought tokens will be added to your Binance portfolio, so transfer them to your Metamask wallet.

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Step 3 – Link the Wallet to the Crypto’s Site

Once you have transferred your ETH holdings to your wallet, link it to the official website of African crypto.

If you have a browser-based wallet, the website will automatically detect it and begin the connection process. Otherwise, you need to scan the barcode or choose among the available options.

Step 4 – Buy African tokens

Once your wallet is connected, select the number of ETH you want to swap for those African tokens and click on the “Buy Now” button.

Step 5 – Claim Those tokens

Once you have completed the transaction, claim those tokens.

Conclusion

You now have checked out the top 10 African cryptocurrency projects that you can invest in. These projects offer another way for African people to generate wealth. Even governments of certain regions in the nation have come forward and turned Bitcoin into a legal tender as a way to hedge against inflation.

The rising popularity of cryptocurrencies in Africa means that the days of waiting for money to transfer from outside the country into the region and the high transfer fee will be over soon. Also, considering that crypto is removing the traditional financial barriers that Africans face, we predict that crypto’s reach within the country will grow further.

And those who are looking for the next best African cryptocurrency projects to invest in should look at projects like Pepe Unchained.

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FAQs on Africa Crypto Projects