Although crypto adoption has been increasing in Africa as a whole, it is banned in places like Algeria. The North African country outlawed cryptocurrencies in 2018 and hence, it is difficult to find what proportion of the population, if any, has exposure to cryptocurrencies.
Despite legal restraints, there are certain crypto exchanges that still have some presence in Algeria. This includes centralized as well as P2P crypto exchanges such as Paxful and Remitano. Read on to find out more about the best Bitcoin exchanges in Algeria.
Top 6 Cryptocurrency Exchanges Operating in Algeria
Kraken
Kraken, founded in 2011 just before the fall of Mt.Gox, is one of the oldest cryptocurrency exchanges in the world. It is also the first crypto company that has been approved as a Special-Purpose Depository Institution(SPDI) in America.
Kraken offers you a collection of 200+ cryptocurrencies and high staking rewards. Along with that, it also has a plethora of learning material including a blog, a podcast and guides for individual cryptocurrencies.
For a safe user experience, Kraken uses 2-factor authentication(2FA) and also employs SSL encryption for secure browsing. The exchange uses encrypted email for communication and it does not support phone number or SMS recovery for safety reasons. Its Proof of Reserves which are audited by external auditors help in maintaining transparency.
Features
✔️Over 200 cryptocurrencies available
✔️Has a Pro version with advanced features
✔️Proof of Reserves audit conducted
✔️Uses 2FA and SSL encryption for security
Pros and Cons
✅Lower fee on Pro version ❌Has been previously hacked
✅High liquidity ❌High fees on basic version
✅Supports stop orders and ❌Not for amateur traders
crypto short sales
✅Multifaceted educational material
Trading Fees
Kraken charges different fees on its basic and Pro versions. While the basic version has the final fees decided by several factors such as payment method and order size, Kraken Pro charges maker and taker fees taking into account the 30-day trading volume.
Kraken Instant Buy fee
Kraken Pro fee
Customer Reviews
Kraken’s customer service quickly responds to user queries
Accounts may be randomly closed on Kraken
Why We Picked It
Kraken offers something for all types of crypto traders. It is one of the oldest exchanges and has established its place in the industry. It has a decent selection of coins and as an added bonus, it supports several fiat currencies and offers good rewards on staking assets.
Crypto.com
Crypto.com is quite a popular exchange with 80 million users. It is a crypto trading platform known for its mobile app with which it seeks to popularize trading on the go anytime from a mobile phone.
With 250+ cryptocurrencies, Crypto.com has a wide variety of assets for purchase, sale and trade. Additionally, it has more than 500 pairs with up to 5x leverage for margin trading. For derivatives trading, Crypto.com has 100+ perpetuals, quarterly futures and warrant contracts. To sweeten the deal, it offers discounts on trading fees if you stake its native token CRO.
Crypto.com is an ISO 27001 certified platform. It also makes sure that all user accounts are multi-factor authenticated and have address whitelisting on.
Features
✔️250+ cryptocurrencies available for trading
✔️Native utility coin is known as Cronos(CRO)
✔️Crypto-based loans are available
✔️Native Crypto.com wallet for storing assets
Pros and Cons
✅Great crypto collection ❌Educational material is limited
✅Fantastic asset staking options ❌Not very beginner-friendly
✅Assets kept in cold storage
✅Referral program with good rewards
Trading Fees
Trading fees on Crypto.com differ according to the 30-day trading volume of the user. The exchange also gives out rebates on fees to users who stake a certain amount of the CRO token.
Crypto.com exchange trading fees
Customer Reviews
The Crypto.com app is a good option for crypto traders
Users have had trouble with withdrawals on Crypto.com
Why We Picked It
The Crypto.com app is full of exciting features and every crypto trader should check it out once. Here, you can use your staked CRO to not just earn rewards but also get discounts on trading fees. You can avail crypto loans here and it also offers a prepaid Visa card with several perks and benefits.
OKX
OKX is a Seychelles-based platform for trading cryptocurrency. However, it is not just another crypto exchange but rather a whole crypto ecosystem unto itself. Its ecosystem is powered by its own blockchain called OKX Chain and its native token called OKB. OKX, in particular, is a platform known for its fast transactions, low trading fees and strong APIs.
The exchange along with spot, margin and options trading also enables perpetual swaps. Crypto lending and crypto mining too are available on OKX. Its native OKX Wallet is compatible with nearly 40 networks and you can use it to explore DeFi apps.
Features
✔️400+ cryptocurrencies for trading
✔️Native token OKB and native OKX Chain
✔️40+ networks compatible with OKX Wallet
✔️Jumpstart Mining for DeFi token farming
Pros and Cons
✅Fees are on the lower side ❌Covoluted fee structure
✅Multiple payment options ❌Poor customer service reviews
supported
✅Educational material available
✅Supports demo trading
Trading Fees
In general, either the 30-day trading volume or the user’s assets are taken into consideration while determining trading fees on OKX.
OKX trading fees breakdown
Customer Reviews
OKX is a user-friendly platform and is liked by traders
OKX’s customer service is very poor
Why We Picked It
OKX is an easy to navigate crypto exchange and supports a variety of trading options. There is a demo trading feature where you can test out your strategies. There are also DApps, crypto mining and DeFi token farming opportunities that you can check out.
Bybit
Bybit is a pretty famous cryptocurrency exchange that is regularly counted among the top cryptocurrency trading platforms. Though it is primarily for derivatives trading, spot traders have no dearth of options on Bybit.
Bybit lets you use USDC and USDT as collateral while swapping perpetuals. Even for inverse contracts and options contracts, you can use USDT as collateral. Here, You can also check out copy trading wherein you can copy the strategies of top traders without having to learn about complex trading strategies.
Bybit provides you with customized recommendations for investment tools by analyzing your investment profile. The exchange also has an in-built crypto wallet with which you can explore the world of DApps and Web3.
Features
✔️Chiefly for derivatives trading
✔️280+ spot pairs for trading
✔️Has the largest USDC Options Marketplace
✔️Native Bybit wallet available
Pros and Cons
✅Simple to use exchange ❌Not very suitable for spot trading
✅Trades are not costly ❌Trading stats are not verified
✅Supports many order types
✅Demo trading feature
Trading Fees
There are non-VIP, VIP and Pro levels on Bybit all of whom are charged different maker-taker fees for different types of trades.
Bybit trading fees categorization
Customer Reviews
Bybit is an excellent choice for trading crypto
Users’ accounts have sometimes been locked on Bybit
Why We Picked It
Bybit is a good exchange, especially for derivatives trading. Its user interface works smoothly and the exchange settles transactions quickly. The crypto collection is satisfactory on Bybit and you can check out DApps with the Bybit wallet.
CEX.io
CEX.io though a simple exchange, has a lot to offer to crypto traders. It is a platform that makes it easy to get into cryptocurrencies. Here, you can check out 200+ cryptocurrencies at quite reasonable maker and taker fees.
CEX.io users are divided into three categories- Everyone, Trader and Business and users in each category are provided services tailored to their demographic. While ‘Everyone’ can use the Instant Buy feature to buy cryptocurrencies, ‘Traders’ can also conduct spot and margin trades. They also get access to top orders and advanced charting tools on CEX.io
For ‘Businesses’ there is a whole institutional-grade ecosystem with CEX.io PRIME. Along with that, CEX.io also enables crypto lending and offers a wallet where you can store your crypto. The exchange also supports crypto asset staking.
Features
✔️More than cryptocurrencies available for trading
✔️Licensed and regulated exchange
✔️Three user categories
✔️Has a native crypto wallet
Pros and Cons
✅Satisfactory coin collection ❌Verification process can be long
✅Provides staking opportunities ❌Low liquidity
✅Enables crypto lending
✅Spot fees are low
Trading Fees
CEX.io has adopted a simple maker-taker system for charging fees wherein the fees keep reducing as the 30-day trading volume increases.
CEX.io exchange fees
Customer Reviews
CEX.io provides a smooth trading experience
CEX.io may sometimes withhold deposits
Why We Picked It
CEX.io has the relevant licenses to operate in several places. Hence, you can be assured that it is a properly regulated crypto trading platform. It supports several payment methods, offers crypto loans and good returns on crypto staking.
KuCoin
KuCoin is a good fit for people who like to explore new crypto coins. And with 700+ cryptocurrencies, you have a lot to explore here. Its huge crypto variety and rather low trading fees tick off nearly all the boxes of a good cryptocurrency exchange.
Along with spot trading, derivatives and margin trading are also supported on KuCoin. Here, you can also lend out your crypto or avail of crypto loans. With KuCoin Earn, you can invest in a variety of products with lucrative returns. You can check out and buy or swap NFTs on its NFT marketplace.
KuCoin has a referral program where you can get up to 20% commission if you invite your friends to KuCoin. It uses multisig technology for securely storing assets. Data is always encrypted during transit, storage and use and alerts are issued to users if suspicious account activity is detected.
Features
✔️700+ available cryptocurrencies for trading
✔️Supports multiple languages
✔️Native token is known as KuCoin Token(KCS)
✔️Encryption and multisig technology for security
Pros and Cons
✅Massive crypto collection ❌Fee structure is complex
✅Fees are on the lower side ❌Coins are not strictly vetted
✅Referral program for users
✅Has an NFT marketplace
Trading Fees
KuCoin has multiple levels and classes composed of different criteria on the basis of which trading fees are charged.
KuCoin cryptocurrency exchange fee levels
Customer Reviews
KuCoin is liked for its wide variety of coins
KuCoin’s customer service is poor
Why We Picked It
KuCoin is an excellent platform if you would like to have access to a wide variety of cryptocurrencies on a single platform. Here, you can grow your holdings with KuCoin Earn and utilize trading bots to automate your trades. The exchange also features an NFT marketplace where you can dive into the NFT world.
Top 5 P2P Exchanges in Algeria
Paxful
Paxful is perhaps one of the most famous P2P exchanges. It is quite a well-known platform in several countries in Africa where it is often difficult to use traditional channels to access cryptocurrency. It is a place where you can meet other crypto buyers and sellers and directly engage with them to trade cryptocurrencies.
On Paxful, there are over 350 methods available to buy and sell Bitcoin including using cash or online wallets like PayPal or debit and credit cards. Here, you can set your own rate too if you want to sell Bitcoin.
For businesses, there is Paxful Pay which enables them to conveniently accept crypto payments from a global user base. There is a transaction fee of 1% for the same and there is no issue of chargeback here. Further, you can also get rewards here for inviting other people to the platform and growing your network.
Features
✔️Over 350 payment methods
✔️Buying and selling with BTC and USDT
✔️Supports escrow trading
✔️Native Paxful wallet to store BTC
Pros and Cons
✅Several payment methods ❌High sales fees
supported ❌Chances of scams
✅Biometric verification available
✅Rewards program for users
✅Zero fees
Trading Fees
There are zero fees for buying crypto on Paxful but it does charge a selling fee depending on the type of payment method used.
Fees for Paxful
Customer Reviews
Convenience is one of the biggest advantages of Paxful
Users have been scammed on Paxful
Why We Picked It
Crypto buyers and sellers can directly interact on Paxful. It does not charge any fees for ‘buy’ transactions and supports a wide variety of payment options. The fees for Paxful Pay too are towards the lower end and the platform also runs an active rewards program.
Remitano
Remitano is a P2P exchange known for its fast transaction settlement speeds. The platform claims to take less than 1 minute to complete trades. On Remitano, users are put into different categories according to their country of residence and the bank used by them for swift transactions.
Remitano supports the Algerian Dinar(DZD) and enables you to buy Bitcoin in minutes with the DZD. You can create an account here very easily by linking your e-mail account, Google, Facebook or Apple ID.
Features
✔️More than 30 cryptocurrencies available
✔️Enables crypto lending
✔️Has a Learn and Earn program
✔️Native token is RENEC
Pros and Cons
✅Simplicity of use ❌Accounts may get locked
✅Supports DZD
✅Fast transactions
✅Has a referral program
Trading Fees
Remitano charges a 0.5% fee for stablecoin/fiat pairs and a 0.75% fee for fiat/altcoin pairs.
Fees for Remitano
Customer Reviews
Remitano is a trusted P2P exchange among crypto users
Funds and accounts may get locked on Remitano
Why We Picked It
You can directly buy BTC with DZD on Remitano. It has a referral program with several attractive terms and the exchange gives additional benefits to users with higher KYC levels. Many other services such as crypto lending are also supported on Remitano.
Bisq
Bisq is perhaps the most decentralized P2P exchange. Bisq’s commitment to decentralization is visible in the fact that it functions as an open-source desktop software that needs to be downloaded and installed on a computer. It is governed like a decentralized autonomous organization(DAO) to ensure that the platform remains self-sustaining and censorship-resistant.
On Bisq, there is no need to get your account approved or your ID verified by a central authority. You only need a computer and an internet connection to trade on Bisq. Its servers are scattered geographically so you don’t have to worry about losing your funds due to a central failure.
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 are always communicated in terms of either BTC or BSQ.
Fees for Bisq
Customer Reviews
Bisq is a completely decentralized exchange facilitating P2P transactions
Bisq’s UI can be better
Why We Picked It
You can interact and engage with a global community of P2P crypto traders on Bisq. It is a completely hands-off platform where you can trade the way you want. There is no need to give out your identifying information or transfer your assets to trade on Bisq.
UniSwap
Decentralized exchanges like UniSwap are best for traders with prior crypto trading experience and those who are wary of giving their personal information to a centralized corporation. UniSwap does not have any central order books for matching crypto buyers and sellers. Instead, it utilizes smart contracts to define and detail the major aspects of running the platform.
In this way, you can freely trade on UniSwap without the interference of any middleman. It is a highly liquid and efficient platform where you can deposit and swap a wide range of ERC-20 tokens at quite low fees. A part of the fee is given to liquidity providers as compensation for providing liquidity.
Features
✔️Built on the Ethereum blockchain
✔️Utilizes the AMM system
✔️Native token called UNI
✔️Governed by the UNI-holder community
Pros and Cons
✅ERC-20 token swapping ❌Does not verify coins before listing
✅Private and anonymous trading
✅User-friendly platform
✅Bug bounty program for security
Trading Fees
UniSwap has multiple tiers for charging fees on ERC-20 token swaps.
UniSwap’s pool fees tiers
Customer Reviews
UniSwap is a successful accessible decentralized exchange
There is no mechanism for registering complaints on UniSwap
Why We Picked It
UniSwap is a decentralized cryptocurrency exchange that enjoys high popularity due to its accessibility. The platform uses AMM to automate the whole process of providing liquidity. This mechanism is used to prevent price manipulation on the platform.
Balancer
Balancer is an Ethereum-based DeFi project using the Automated Market Maker(AMM) protocol for forming liquidity pools and providing liquidity to the platform. It has both public and private pools where traders stake their tokens.
In public pools, any person who is interested can give liquidity. Private pools, meanwhile, allow only pool owners to change, add or withdraw liquidity. Plus, only the pool owner can change the parameters of the pool.
Further, Balancer has multi-token pools i.e. pools that let users add more than two tokens to the liquidity pool. Pool owners get the freedom and flexibility on Balancer to decide pool fees which can be anywhere between 0.0001% and 10%.
Features
✔️Developed on the Ethereum network
✔️Pools are governed by smart contracts
✔️Public and private pools available
✔️Works with multiple Ethereum-compatible wallets
Pros and Cons
✅Permissionless platform ❌Supports only ERC-20 tokens
✅Multi-token pools ❌Not compatible with mobile devices
✅Liquidity pools are customizable
Trading Fees
While using Balancer, the protocol takes half of the trading fees collected.
Balancer DEX fees
Why We Picked It
Balancer provides users with the freedom to trade as per their wishes wish and hands over major control of the pools in the hands of the traders. The exchange can be used with any major Ethereum wallet like Metamask. You don’t need to submit your ID here and only need to connect your wallet to trade on Balancer.
Can You Trade Crypto in Algeria?
Cryptocurrency and cryptocurrency trading are banned in Algeria. The Central Bank of Algeria had expressed concerns about the volatile and unregulated nature of cryptocurrencies. Therefore, the sale, purchase, trading and holding of cryptocurrencies was banned by the Financial Law passed in 2018.
The law defines Bitcoin as a “so-called virtual currency” that is used by Internet users. It further notes the absence of physical support such as banknotes, coins or cards for cryptocurrencies.
As per Algerian authorities, cryptocurrencies can be used in illegal activities like drug trafficking, tax evasion and money laundering due to their anonymous nature.
Hence, crypto trading is illegal in Algeria and the violation of this law is a punishable offence.
The Bottom Line
Accessing cryptocurrency via formal channels can be difficult in Algeria. Still, there are a few cryptocurrency exchanges that operate in Algeria and there are P2P exchanges as well, some of which also accept DZD.
However, you should remember that crypto trading is a speculative venture and it being outlawed in Algeria makes it even more risky. You should always weigh the pros and cons before deciding whether it is worth it to invest in cryptocurrencies in Algeria or not.