How to Buy Cryptocurrency in Cameroon

Buying cryptocurrency in Cameroon

Buying cryptocurrency in Cameroon Compared to Kenya, South Africa and Nigeria, The Republic of Cameroon has a substantially smaller bitcoin community. At this time, cryptocurrencies such as Bitcoin have no actual legal status in Cameroon. CEMAC, the central bank of the six-national monetary union, is yet to issue any particular form of guidance concerning the use of Bitcoin. This means that Cameroonians are therefore able to purchase, hold and use Bitcoin as they wish until such specific guidance is issued. Even though this is considered good news for both bitcoin traders and investors, because of this lack of guidance on regulation Bitcoin and blockchain startups don't fall under regulatory oversight. This can become a problem for both consumers (due to a lack of protection) and startups that operate unregulated and in fear of being shut down. Cameroon basing its economy on cryptocurrency could possibly result in an unprecedented creation of wealth for its citizens
As of 20/03/2021

Exchanges Info

These exchanges all accept customers from Cameroon. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below

Open a Bybit Account

Bybit

Based in Singapore and registered in the British Virgin Islands, Bybit is a P2P cryptocurrency exchange offering perpetual futures products with 100:1 leverage. Bybit can process 100k transaction per second which is a great feature for leveraged trading.

Pros