Search Inside Bitcoins

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

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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

Through our deep and intense research, we could create a list of the best African cryptocurrency projects with the maximum potential to thrive in the region and beyond.

  1. Dogeverse – Overall Best African Project of 2024
  2. Mega Dice – Gambling Crypto that Could Become Big in Africa
  3. 99Bitcoins – Leading L2E Crypto of 2024
  4. Slothana – African Meme Coin Inspired by Slerf
  5. Sponge V2 – Best African Crypto in the Memecoin Niche
  6. Smog – Best Solana-Based Memecoin to Buy in Africa
  7. 5th Scape – A Virtual Reality Ecosystem For Gamers
  8. eTukTuk – Eco-Friendly Project Offering EV Solutions
  9. Bitcoin Minetrix – Best African Crypto to Buy for Mining Bitcoin
  10. Dogecoin20 – African Crypto in the Meme Coin Niche
  11. Cardano – A Cryptocurrency Project Aiding Multiple Organizations in Africa
  12. Bitcoin – Legal Tender Applicable in Central African Republic
  13. Stellar – Helping the Unbanked in the Region
  14. Ripple – Offering Next-Gen Payments Technology in Africa
  15. Monero – Favorite Crypto of Privacy-Seeking Africans
  16. Akoin – Popular Crypto from RnB Artist Akon
  17. Uniswap – A Decentralized Exchange Enabling Africans to Crypto Trade Worldwide

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.

Dogeverse – Overall Best African Project of 2024

Dogeverse has emerged as the best African crypto, distinguishing itself as a chain-hopping meme coin that transcends the constraints of any single blockchain. Engineered for interoperability at its heart, Dogeverse ($DOGEVERSE) showcases various features that are bound to captivate the crypto community.

Dogeverse Project

The token’s ability to navigate across chains is not only a technical feature but also an integral part of its narrative. With its mascot named “Cosmo,” Dogeverse aims to cultivate a strong community, uniting enthusiasts from various blockchain environments.

Its deployment strategy is particularly noteworthy, offering seamless functionality across multiple blockchains, including Ethereum, BNB Chain, Polygon, Solana, and Base. This makes Dogeverse not only versatile and cost-effective but also highly accessible.

The token’s multi-chain capabilities propel it forward, enabling users to connect with fellow meme coin aficionados across different ecosystems. While uniqueness is often elusive in the realm of meme coins, Dogeverse introduces a fresh and exciting element to the blockchain space, positioning it as a standout asset.

Currently, Dogeverse is conducting a 10-stage presale aiming for a soft cap of $8.83 million. More information is available at thedogeverse.com for those interested in investing in innovative multi-chain tokens.

Visit Dogeverse

Mega Dice – Gambling Crypto that Could Become Big in Africa

Mega Dice is another one of the leading cryptos in the market that could go big in Africa. Following the same GambleFi route as Scorp and other leading casinos, Mega Dice has introduced its own native crypto to let users become partial owners of the casino.

Mega Dice Tokens

$DICE is an ERC-20 token created on the Solana blockchain. In addition to providing exclusive access to some games as well as some NFTs, owning $DICE also lets users share in the growth of Mega Dice Casino.

The project’s upsides are many. One is the perks it has gotten from being a GameFi token, and the second is its being live on the Solana blockchains.

Solana tokens have outperformed many major assets this year, and this, too, can follow the same trajectory as other tokens when it concludes its presale. The double positive narrative of a GameFi token on Solana can boost its appeal in the long run.

The project has raised upwards of $350k already. In the coming days, it will receive more attention. For more info, we advise following Mega Dice’s Twitter and Telegram pages.

Visit Mega Dice Presale

99Bitcoins – Leading L2E Crypto of 2024

99Bitcoins has firmly established itself as a pivotal crypto education platform within the blockchain domain. With the introduction of its token, 99BTC, it has transformed into the top cryptocurrency to invest in this year.

99Bitcoins best african crypto

As a heritage platform, this project is likely to gain a lot of traction in Africa and become one of the best cryptos in the region.

Launched on the Ethereum blockchain, this platform offers a venue for sharing knowledge and learning about cryptocurrencies. Users can interact with 99Bitcoins’ educational tools and earn crypto as a reward.

99BTC tokens serve as keys to unlock advanced training courses within the platform’s ecosystem, including exclusive training sessions and webinars. Those who opt to become 99Bitcoins whales gain access to VIP community groups, where they can tap into expert advice and receive crypto trading signals to enhance their decision-making.

The platform is also making its way to the Bitcoin network, which will coincide with 99Bitcoins tokens bridging to BRC-20, which can further expand this crypto project’s horizons.

99Bitcoins has gained recognition by simplifying complex crypto concepts. With its new Web3-focused platform, it is now delving into Learn-to-Earn (L2E) opportunities, providing users with interactive learning modules, quizzes, certifications, and more.

The 99Bitcoins presale has successfully raised over $400K to date. Interested individuals can visit presale.99bitcoins.com for more information about this innovative project.

Visit 99Bitcoins

Slothana – African Meme Coin Inspired by Slerf

Assets that achieve short-term success often inspire an array of new cryptocurrencies that capitalize on the same imagery. That’s the story behind Slothana. This Sloth meme coin on the Solana blockchain cropped up days after the success of Slerf, a meme coin whose mistake made it worth more than $300 million in market capitalization.

Buy Slothana

However, since Slothana can’t back on Slerf’s mistake to gain virality, it is using a different imagery instead. The project’s Twitter page describes the lore of this meme coin as a Sloth office worker who doesn’t want to be lazy around stuck in 9 to 5 and get back outside in the meme coin grind.

Such a token may resonate with an African audience that has embraced the hustle culture to generate wealth in the market. Another factor that makes it stand out is the way presale has been designed. There are no stages, and there are no timelines. The token has a limited supply and once all are sold, the token will automatically be added to a decentralized exchange. Over $600k has been raised already. Considering the recent influx and success of meme coins, this token is a good buy.

Visit Slothana

5th Scape – A Virtual Reality Ecosystem For Gamers

With its square focus on virtual reality, 5th Scape is a project that has the potential to become one if the leading African cryptos of this year.

5th Scape

Marketing itself as the next-big-thing of this decade, 5th Scape is creating a world of digitized escape for gamers as well as other individuals looking to dive into virtual reality.

However, the key factor that makes it stand out from the rest is its complete focus on providing assets that are more than just digital.

While users will have their pick of VR games inside the sports genre, many of which have already started their beta stage – such as Cage Conquest, 5th Scape will also provide users with VR headsets as well as gaming chairs.

Described as unique, technologically advanced, and comfortable, 5th Scape’s VR headsets and gaming chairs will motivate participation within its ecosystem.

The key token powering this ecosystem – 5SCAPE – is an ERC-20 token that will be used by gamers to buy in-game assets. Its other utility is as a reward token for developers, who will be able to leverage 5th Scape’s suit of tools to create and monetize their VR experiences.

Visit 5th Scape

Sponge V2 – Best African Crypto in the Memecoin Niche

Sponge V2 is a crypto poised to do well in Africa and surrounding regions thanks to the unique mechanics it has. It is the evolution of Sponge V1, a memecoin that came out in memecoin mania and went through a massive pump before correcting.

Sponge V2 - Best African Crypto in the Memecoin Niche 

However, unlike other memecoins that back-peddled and were lost in obscurity, Sponge persisted. It created a robust community on Twitter, Telegram, and Discord while working on a bridge in the background. Sponge V2 is the result of that bridge. With this new version, Sponge devs aim to introduce a new staking mechanic and a new P2E ecosystem.

The staking mechanic comes into play in the way Sponge V2 is accessible. Existing Sponge V1 holders can stake their tokens to earn an equivalent amount of Sponge V2. Late buyers can buy and stake Sponge tokens simultaneously and get the same rewards. Long-term holders will also get access to bonus perks.

The P2E ecosystem will give the Sponge V2 token a unique use case where it will be given out as a reward for playing the game.

Sponge V2 has multiple perks thanks to the popularity of the Sponge V1 token. It has all it takes to hit the ground running and become a hit after launch. Those interested in this project can visit the Sponge website today.

Visit Sponge V2

Smog – Best Solana-Based Memecoin to Buy in Africa

SMOG stands out as the most notable African meme coin of the year thanks to its unique aesthetics and gamified mechanics. Upon its launch on Jupiter DEX, the token experienced a remarkable surge of over 1500% within the first three hours.

Smog airdrop

Drawing inspiration from the dragon character “Smog” in the Lord of the Rings series, SMOG weaves a mystical narrative within the Solana ecosystem. It states that its goal is to breathe fiery life into the meme coin realm, turning it into a valuable asset class and bringing another meme mania.

The fundamental aspect of this token’s narrative makes it a suitable token to invest in 2024 for African investors.

SMOG distinguishes itself by introducing what has been hailed as the greatest SOL airdrop in history. Purchasers of SMOG automatically qualify for the $SMOG airdrop, which will have a gamified mode of distribution. It will be rewarded to holders who must accumulate airdrop points for completing tasks on a daily, weekly, and monthly basis.

The project’s roadmap reflects its meme-centric essence, featuring multiple planned airdrops that infuse a gamified atmosphere into SMOG. Those who want to buy this token can head over to Jupiter DEX today. However, users can also go to the official website to buy this token. It has become possible since the arrival of ETH-bridge for the SMOG ecosystem. Furthermore, buying and holding SMOG tokens will also deliver staking rewards.

Visit Smog

eTukTuk – Eco-Friendly Project Offering EV Solutions

Introduced recently, the eTukTuk project has been revolutionizing the charging infrastructure for electric vehicles (EVs) globally. Launched just a couple of weeks ago, it has swiftly dominated the industry with its eco-friendly approach. The mission of eTukTuks is primarily focused on reducing pollution by providing an electric TukTuk variant that is easily accessible to all income levels, accompanied by an electric charging infrastructure powered by blockchain technology.

eTukTuk (TUK)

As the electric vehicle market grows at a phenomenal speed, it is likely that the demand for EVs will also rise. However, the requirement for charging stations may also increase, a challenge that the eTukTuk platform aims to address. It plans to establish charging stations powered by its native token, TUK. This token can be utilized by investors as payment when charging their EVs, allowing them to receive a discount.

While the project initially focuses on the Asia-Pacific region, it is also expected to have a significant impact in Africa by contributing to the development of the country’s transport infrastructure. Additionally, the project has decided to introduce a play-to-earn (P2E) game related to driving, which will be powered by the TUK token as well.

Despite being introduced only recently, the project has already started gaining popularity on multiple social media platforms. This surge in popularity has propelled the project towards its presale goal at a tremendous pace. Considering the planned developments, upgrades, and exciting utility of the project, this African cryptocurrency can indeed be an investment option worth considering.

Visit eTukTuk

Bitcoin Minetrix – Best African Crypto to Buy for Mining Bitcoin

Bitcoin Minetrix stands out as one of the most discussed crypto projects emerging from Africa at present. This crypto, accessible to African investors, has garnered attention for its innovative approach to mining. This sector was previously dominated by a significant monopoly, making it inaccessible to retail investors.

BTCMTX

In essence, Bitcoin Minetrix functions as a tokenized cloud mining platform, democratizing the process of mining Bitcoin (BTC) for everyday individuals in a decentralized manner. The project addresses a critical issue by tokenizing cloud mining, ensuring a secure and transparent experience. This, in turn, mitigates the risk of third-party cloud mining scams, empowering token holders with control. Through the simple act of staking $BTCMTX, the project’s native token, users can accumulate credits to mine Bitcoin.

With its distinctive concept, Bitcoin Minetrix has already garnered attention from prominent YouTubers and received coverage on leading crypto reporting platforms. Recently Nigeria based Nairametrics reported on BTCMTX, as did TechCabal and Disrupt Africa.

This surge in interest is reflected in the project’s current presale, which is well on its way to achieving its $3.08 million target. Overall, for those seeking potential gains in the coming months, Bitcoin Minetrix emerges as a compelling crypto option to consider.

Visit Bitcoin Minetrix

Dogecoin20 – African Crypto in the Meme Coin Niche

Crypto enthusiasts in South Africa have become very receptive to meme coins. That is why one of the best meme coins to invest in right now within that region is Dogecoin20.

Dogecoin20 crypto presale

Modeled after the OG crypto known as Dogecoin, Dogecoin20 is a meme coin project that brings the virality and the social aspects of Dogecoin to the Ethereum blockchain. An ERC-20 cryptocurrency. Dogecoin20 has several benefits that make it suitable for short-term gains and long-term benefits.

The token’s virality is high enough for it to gain traction as an intra-day trading crypto. Through staking, however, Dogecoin20 gains multiple long-term perks that allow users to compound their earnings properly.

Another major plus point of Dogecoin20 is the fact that it is a deflationary crypto, making scarcity a factor it can leverage to gain long-term upsides. That said, everything else about this project is similar to Dogecoin since it pays homage to it.

The project’s roadmap also hints at the fact that more utilities might arrive as Dogecoin20 becomes more popular. For now, the project is available as a presale on dogecoin20.io.

Visit Dogecoin20

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 Price Chart All Time 2024

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.

Buy ADA

Your Capital Is At Risk

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.

All Time Price Chart for Bitcoin

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.

Buy Bitcoin

Your Capital Is At Risk

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 XLM all-time price chart

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.

Buy Stellar

Your Capital Is At Risk

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.

Ripple All Time Price Chart

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.

Buy XRP

Your Capital Is At Risk

MoneroFavorite 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 all-time price chart

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.

Buy Monero

Your Capital Is At Risk

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.

Akoin - Popular Crypto from RnB Artist Akon

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.

UniswapA 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 - A Decentralized Exchange Enabling Africans to Crypto Trade Worldwide

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.

Buy UNI

Your Capital Is At Risk

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.

Metamask Crypto 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.

Buy ETH

Your Capital Is At Risk

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 Dogeverse.

Dogeverse - Multichain Meme Coin

Rating

Dogeverse logo
  • Early Access Presale Live Now
  • Bridge To Solana, Base, BNB Chain, Polygon, Avalanche
  • Staking Rewards - thedogeverse.com
  • Trade With Low Fees
  • World's First Chain Travelling Doge - Cosmo
Dogeverse logo

FAQs on Africa Crypto Projects

Is there an African cryptocurrency?

Yes, Africa has multiple cryptocurrencies that have originated from African soil. The perfect example of that is Akoin. Founded by Akon, the popular singer, this cryptocurrency aims to fund a futuristic city in Africa.

What is the best cryptocurrency in Africa?

The best African cryptocurrency at the time of writing is Dogeverse. This token has understandable fundamentals and good perks.

How many cryptocurrencies are there in Africa?

While Africa is home to multiple crypto assets, only some - like Akoin and Bitcoin - have been embraced by the wider populace.

What is the first African cryptocurrency?

The first cryptocurrency adopted by the African people at a large scale is Bitcoin. The Central African Republic accepts the token as legal tender. Investors can use it to buy goods, pay taxes, etc., using Bitcoin.