Cryptocurrency is becoming popular in Africa in countries as diverse as Nigeria, Ghana, and Chad. The sub-Saharan country of Chad is not as hostile to crypto assets as some other places in the region even though it does not consider them to be legal tender.
Chadian traders, therefore, can easily trade crypto assets like Bitcoin and Cardano in the country. To help you learn more about the various Bitcoin exchanges in Chad, we have compiled this list of the best crypto exchanges in Chad.
Top 6 Crypto Exchanges Operating in Chad
Kraken
Kraken, one of the oldest cryptocurrency exchanges, is also the first exchange to be approved as a Special Purpose Depository Institution(SPDI) in America. It started operations more than a decade ago with just Bitcoin, Litecoin, and Euro trades and now has over 200 cryptocurrencies available for spot, futures and margin trading.
Besides that, Kraken offers crypto indices, OTC services and the opportunity to stake assets to earn interest on them. You can check out both flexible and bonded products and choose the ones that are compatible with your investment goals.
Kraken’s Proof-of-Reserves report is publicly available on its website so that any interested person can access and verify the results. People can report vulnerabilities in its system via the Kraken Bug Bounty program and receive rewards as per the severity of the reported vulnerability.
On a basic level, Kraken users are encouraged to turn on 2-factor authentication(2FA) and the Global Settings Lock(GSL) for the highest level of security.
Features
✔️200+ cryptocurrencies available for trading
✔️One of the oldest operating exchanges
✔️Proof-of-Reserves reports open to public
✔️Uses 2FA and GSL for security
Pros and Cons
✅Massive coin collection ❌Not very good for new traders
✅Several types of trades can be ❌Higher fees on Kraken basic
done
✅Many assets for staking
✅Different fiat currencies supported
Trading Fees
Kraken Instant Buy fees explained
Kraken Pro fees explained
Customer Reviews
Kraken is a convenient platform for trading
Transactions can involve high fees on Kraken
Why We Picked It
Kraken is in general a stable and reliable exchange. It offers several products apart from basic trading features that are suitable for both new and expert traders. It also follows the best industry practices for securing accounts and funds.
Crypto.com
Crypto.com is slightly different from other crypto exchanges in that it focuses on developing and promoting its mobile app more than its web version. Its efforts seem to be paying off as the Crypto.com mobile app is one of the fastest-growing crypto trading apps with approximately 50 million active users in 2022.
With over 250 cryptocurrencies, it has a variety of assets available for trading including its native Cronos(CRO) token. Plus, you don’t have to pay anything for token deposits or crypto-to-crypto conversions on Crypto.com. There is also a Crypto.com wallet where you can store your assets, an NFT marketplace for users who are into art tokens, a healthy number of assets for staking as well as a prepaid Visa card.
You can also get discounts on the trading fees paid if you stake a certain amount of CRO tokens. In addition, Crypto.com has adopted multi-factor authentication(MFA), address whitelisting and cold storage to ensure the safety of user assets and data.
Features
✔️Promotes mobile app-based trading
✔️Over 250 cryptocurrencies available for trading
✔️Supports crypto lending
✔️Cronos(CRO) is native token
Pros and Cons
✅Fantastic coin selection ❌Insufficient educational resources
✅Competitive fee rates ❌Not exactly beginner-friendly
✅Native Web3 wallet ❌App geo-restricted in Chad
✅MFA and address whitelisting
Trading Fees
Crypto.com fees explained
Customer Reviews
Crypto.com has a terrific app
Users have reported problems with withdrawals on Crypto.com
Why We Picked It
You can trade on the go with the Crypto.com mobile app. The fees here are fairly low and you can further reduce them by staking CRO. You can also explore NFTs on Crypto.com and use the app for making merchant payments.
OKX
OKX, a cryptocurrency exchange founded by Star Xu and based in Seychelles, is known for its competitive fees, strong APIs and quick transactions. The whole ecosystem is powered by its native blockchain known as OKX Chain and its native token OKB.
On OKX, you can indulge in spot, margin and options trading as well as also dabble in perpetual swaps. Here, you can also avail of crypto mining services and crypto loans. The exchange has a native OKX Wallet which supports around 40 networks and you can use it to explore DeFi apps. Plus, you should check out the Jumpstart Mining initiative if you are interested in farming DeFi tokens.
Features
✔️400+ assets for trading
✔️Has native blockchain and native token
✔️OKX Wallet compatible with 40+ networks
✔️Farming DeFi tokens via Jumpstart Mining
Pros and Cons
✅Lower trading fees ❌Complex fee structure
✅Multiple payment options ❌Poor customer support
✅Extensive learning material
✅Demo trading available
Trading Fees
OKX trading fees explained
Customer Reviews
OKX is an easily navigable platform
OKX’s customer support needs improvements
Why We Picked It
You can indulge in several types of trades on OKX. There is a demo trading mode where you can practice and test out your strategies before applying them for actual trades. Crypto mining services and DApps are also available here.
Bybit
Bybit is one of the top cryptocurrency exchanges that is regularly introducing new features and attractive offers for its users. Though primarily focusing on derivatives trading, Bybit has plenty on offer for spot traders too.
If you are swapping perpetuals on Bybit, you can conveniently use USDC and USDT as collateral for the same. You can also use USDC as collateral for inverse contracts and options contracts. It supports copy trading as well which can be a great option for traders to imitate the strategies of top traders without needing to go through the details of complex trading strategies.
Bybit utilizes AI to analyze your investment profile and recommend tools that are best for your needs and trading style. It also offers an in-built wallet with which you can explore the world of Web3 and DApps.
Features
✔️Mainly for derivatives trading
✔️280+ pairs available for spot trading
✔️Has world’s largest USDC Options marketplace
✔️Copy trading available
Pros and Cons
✅Simple UI ❌Not the best for spot trades
✅Trades are not costly
✅Demo trading available
✅In-built wallet
Trading Fees
Bybit fees explained
Customer Reviews
Bybit has excellent features and coin selection
Users report accounts being locked on Bybit
Why We Picked It
Bybit is a fantastic exchange, particularly for crypto derivatives traders. It has a slick interface, a native Web3 wallet and it enables fast transaction settlement with its 100K TPS matching engine.
CEX.io
CEX.io is one of the international cryptocurrency exchanges available in Chad. This exchange is all about making crypto trading accessible for everyone. Its simple and intuitive design reflects this core concept of accessibility. You get to access 200+ cryptocurrencies on CEX.io which makes it a pretty solid choice for starting your crypto journey.
On CEX.io, users are divided into three categories so that each user gets to have a personalized experience compatible with their skills and goals. For example, ‘Everyone’ gets to use the Instant Buy option for purchasing cryptocurrencies. The platform supports multiple payment options any of which can be used for buying crypto.
‘Traders’, meanwhile, also get to participate in spot and margin trading on CEX.io. The CEX.io PRIME platform is for ‘Businesses’ where they get to access institutional-grade services. The exchange encrypts all data for privacy and keeps user assets secure in cold wallets.
Features
✔️More than 200 cryptocurrencies available
✔️Users are put into three categories
✔️Multiple payment options available
✔️Encryption and cold storage for security
Pros and Cons
✅Wide range of crypto coins ❌Verification process can be lengthy
✅Crypto loans available ❌Does not have high liquidity
✅Staking opportunities
✅Spot fees are reasonable
Trading Fees
CEX.io crypto exchange trading fees
Customer Reviews
CEX.io gives a good trading experience
Deposits have been withheld on CEX.io
Why We Picked It
CEX.io is a licensed and quite accessible cryptocurrency exchange. It offers a plethora of options for crypto trading and you can even avail crypto loans here. It claims to provide 24/7 customer service and there are several opportunities through which you can grow your crypto holdings.
KuCoin
KuCoin is the perfect platform for traders who want a wide variety of crypto assets on one platform. It has one of the largest altcoin collections and lets you convert one cryptocurrency to another at zero fees.
KuCoin is a multi-lingual exchange that supports 20+ languages including French and boasts of a global user base from 200+ countries. You can, therefore, interact with crypto enthusiasts in your preferred language on KuCoin. Further, it also enables you to use trading bots for spot grid, dollar cost averaging, futures grid, infinity grid and smart rebalance.
KuCoin has a Halo wallet with which you can access Web3 and discover the latest crypto market trends. With this wallet, you can make multi-chain swaps at the best possible prices and follow the on-chain activities of other wallets.
Features
✔️700+ cryptocurrencies available for trading
✔️20+ supported languages
✔️Native coin is called KuCoin Token(KCS)
Pros and Cons
✅Diverse range of cryptocurrencies ❌Fee system is convoluted
✅Free crypto-to-crypto conversion ❌Glitchy trading bots
✅Trading bots for automated trading
✅Access to web3 with Halo wallet
Trading Fees
KuCoin cryptocurrency exchange fees
Customer Reviews
Users can find underrated gems on Kucoin
KuCoin’s customer service is pathetic
Why We Picked It
KuCoin has a large number of cryptocurrencies available that you can check out. It is a multilingual exchange and you can use the platform and interact with other users in your preferred language. You can use the Halo wallet to follow the on-chain activities of other wallets.
Top 5 P2P Exchanges in Chad
Paxful
P2P crypto exchanges are gaining ground in many African countries where banks and other payment service providers are often hesitant to process crypto transactions. Paxful is one such exchange that is quite popular among crypto traders in Chad.
It is simply a marketplace that allows crypto buyers and sellers to engage with each other and negotiate and settle their trades. Users have the option to choose any of the 350+ methods available to pay for their cryptocurrency. Be it online wallets like PayPal, debit or credit cards or even cash, you can use anything to buy crypto on Paxful.
For businesses, there is Paxful Pay which enables them to accept crypto payments from a global user base at a transaction fee of 1%. Paxful also has a referral program where you can grow your network by inviting people to the platform and getting rewards for the same.
Features
✔️More than 350 payment options
✔️BTC and USDT to buy and sell crypto
✔️Escrow trading available
✔️Has a wallet for storing BTC
Pros and Cons
✅Several payment options ❌Selling crypto can be expensive
supported ❌Scams are possible
✅Receive payments with Paxful
Pay
✅Has a Refer and Earn program
✅Sellers can set BTC rates
Trading Fees
Paxful fees explained
Customer Reviews
Paxful is a convenient and efficient exchange
There is always a possibility of scam trades on Paxful
Why We Picked It
Paxful is fast and efficient and does not charge anything for buying cryptocurrencies. There are a plethora of payment options available and you can trade the way you like. Merchants can check out Paxful Pay for its relatively lower charges.
Remitano
Remitano is a popular P2P platform for trading Bitcoin and other cryptocurrencies. It supports the Central African CFA Franc(XAF) and you can buy BTC with XAF in the simplest possible manner. Remitano also supports crypto lending and has a Gamehub where you can play games to earn coins.
There is a conversion calculator that can give you an estimation of the XAF-to-crypto conversion rates. The transactions here are fast and Remitano has an escrow system in place to provide a safe and secure crypto trading environment.
Features
✔️30+ cryptocurrencies available for trading
✔️Crypto lending supported
✔️Gamehub to earn coins
Pros and Cons
✅Quick transactions ❌Instances of accounts being locked
✅Supports XAF
✅Refer and Earn scheme
✅Safe trading with escrow system
Trading Fees
Remitano fees explained
Customer Reviews
Remitano is trusted by users
Reports of funds being locked on Remitano
Why We Picked It
Remitano is a good option if you want to buy crypto with XAF on a P2P platform. It has a Gamehub for earning tokens and a referral program with some good rewards. You can also get incentives for completing the learning courses on Remitano.
UniSwap
There are crypto traders who prefer trading on platforms that do not require any sort of identifying information. Decentralized exchanges such as UniSwap are perfect for such traders. It is an Ethereum-based DeFi project and a rather famous platform for swapping ERC-20 tokens.
Platforms like UniSwap rely on smart contracts to eliminate the role of intermediaries. These smart contracts contain details about every aspect of running the platform such as the standard procedure for forming liquidity pools, providing liquidity and compensating liquidity providers. This system called Automated Market Maker(AMM) helps UniSwap prevent price manipulation to a great degree.
While decentralized exchanges are mostly not beginner-friendly, UniSwap is considered to be an accessible and easy to navigate crypto exchange. This is a big reason for its popularity.
Features
✔️Created on the Ethereum network
✔️Employs AMM system
✔️Three-tiered pool fees system
✔️UNI is the native token
Pros and Cons
✅ERC-20 token swapping ❌Coins are not vetted before listing
✅Trading with privacy
✅Accessible exchange
✅Community governance
Trading Fees
UniSwap fees explained
Customer Reviews
UniSwap is a pretty decent decentralized cryptocurrency exchange
There is no official customer support for UniSwap
Why We Picked It
UniSwap is popular, accessible and an overall great place to swap ERC-20 tokens. It is compatible with major crypto wallets and eliminates intermediaries by using AMM. You can easily maintain your privacy on UniSwap since you never have to give out your personal information.
PancakeSwap
PancakeSwap is also famous among DeFi platform enthusiasts. While it is a ‘swap’ exchange like UniSwap, there are several differences including the underlying blockchain that differentiates the two. UniSwap runs on the more mainstream Ethereum while PancakeSwap was developed on the BNB Chain.
With BNB Chain, PancakeSwap has the advantage of fewer instances of network congestion and lower gas fees. Therefore, traders here rarely have to deal with issues like expensive gas fees.
PancakeSwap’s native token is known as CAKE and is used in the governance of the platform. It promotes democratic governance by enabling users who hold CAKE to vote on proposals which are then implemented on the platform only after their approval.
By implementing its v3, PancakeSwap has introduced four tiers for charging trading fees. The fees have, however, on average, come down as compared to PancakeSwap v2. It also offers the StableSwap feature available which has more efficiency and lower slippage for swapping stable pairs.
Features
✔️Created on the BNB Chain
✔️Four-tiered fees system
✔️Native token is known as CAKE
✔️Platform governed by CAKE holders
Pros and Cons
✅No KYC needed ❌Bitcoin not available
✅BEP-20 token swapping ❌Problem of phishing and other scams
✅No issue of gas fees
✅Staking with yield farms and
syrup pool
Trading Fees
PancakeSwap trading fees
Customer Reviews
PancakeSwap is a decent platform for swapping tokens
PancakeSwap has plenty of low-quality coins
Why We Picked It
There is no need for registration on PancakeSwap. All you need is a crypto wallet, some balance in it and you are good to go. PancakeSwap has several crypto-related products such as lottery programs and yield farms that you can check out. If you’re a CAKE holder, you can also vote on governance proposals on the platform.
Bisq
Bisq is an example of the most decentralized P2P exchange. In fact, Bisq is not even a website but an open-source desktop software that needs to be downloaded and installed on a computer. It is governed as a decentralized autonomous organization(DAO) which ensures that it remains self-sustaining and censorship-resistant.
On Bisq, you don’t need to get your account approved and ID verified by a central authority. You just need to have a computer and an internet connection to trade on Bisq. Its servers are scattered around the world so you don’t need to worry about losing your funds due to a central point of failure. While trading on Bisq, you always remain in control of your assets and private keys.
Features
✔️Free desktop software
✔️Platform is governed as a DAO
✔️Native token is called BSQ
✔️Deposits are in multisig wallets
Pros and Cons
✅Completely decentralized ❌Need to have prior experience
exchange with crypto
✅User authority over private keys ❌BTC or BSQ required
✅Geographical barriers are eliminated
✅No chance of central failure
Trading Fees
The trading fees on Bisq are always communicated in terms of either BTC or BSQ.
Fees for Bisq
Customer Reviews
Bisq is a 100% decentralized P2P exchange
Bisq’s UI needs some work
Why We Picked It
You get to interact with a global community of P2P crypto traders on Bisq. It is a completely hands-off platform and lets you trade the way you want. You don’t have to transfer any assets or give away your identifying information to trade on Bisq.
Is Bitcoin Legal in Chad?
Crypto assets and digital asset services are regulated activities in Chad. The country is a member of the Organisation for the Harmonisation of Business Law in Africa(OHADA) and the Central African Economic and Monetary Community(CEMAC).
Thus, digital asset services are regulated by Regulation No. 22 on the Organisation and Operation of the Central African Financial Market in the CEMAC economic zone.
Digital asset service providers are treated as intermediaries similar to stock exchanges and credit institutions in Chad. Therefore, they need to attain approval from the Central African Financial Market(COSUMAF) before starting operations.
Conclusion
Crypto assets are largely regulated under the CEMAC’s regulations in Chad. Therefore, Chadian traders can easily get access to various types of cryptocurrencies for trading and investment. There are many crypto exchanges operating here and you can choose any one that suits your needs.
However, you should still remember that cryptocurrencies are volatile assets whose value can significantly rise or drop in a moment. Proper research is necessary for crypto trading and you should consult a professional before making an investment decision.