Summary
Cryptocurrency trading is legal in Angola, though it operates in a regulatory gray area with no specific framework. The National Bank of Angola (BNA) oversees financial regulations but has not issued comprehensive crypto guidelines. Popular payment methods include bank transfers and credit cards, with limited support for the Angolan Kwanza (AOA). Here are the best crypto exchanges in Angola that provide reliable trading services:
Best Crypto Exchanges in Angola
When selecting a cryptocurrency exchange in Angola, several factors require consideration, including payment methods, supported cryptocurrencies, and security features. While the Angolan Kwanza (AOA) has limited direct support on international exchanges, traders can use USD or EUR pairs combined with bank transfers and credit cards for transactions.
1. Bybit
Users:
40m
Free Demo:
Mobile App:
Bonus
$30,000
Cryptos:
600+
Leverage:
100x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.055%
Pros
- Low fees
- 600+ supported crypto assets
- 100x leverage and deep liquidity
- Advanced order types and additional features
- Great 24/7 customer support
- Automated copy trading
Cons
- Regulatory uncertainty in Europe and USA
- May be confusing for beginners
- Cryptocurrency investments carry high risks
Overview
Bybit stands out as one of the most advanced crypto exchanges with deep liquidity and low fees. Bybit users can trade Spot, Futures, Options, NFTs, and even Inscriptions. Additionally, Bybit offers copy trading and bot trading to automate your income streams. Bybit copy trading is one of the best in the crypto industry.
Where Bybit excels is its derivatives platform with 320+ perpetual futures contracts and up to 100x leverage. With advanced order types such as TWAP or Iceberg orders, Bybit caters to experienced traders seeking the best options.
On the spot market, Bybit supports over 500 cryptos and up to 10x margin, making Bybit a versatile crypto exchange.
With low fees of 0.1% maker and 0.1% taker for spot trading and 0.02% maker and 0.055% taker for futures trading, Bybit has highly competitive fees. To top it all off, Bybit offers fee discounts based on your 30-day trading volume. The more you trade, the more you save.
2. Binance
Users:
200m
Free Demo:
Mobile App:
Bonus:
$100
Cryptos:
400+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.05%
Pros
- Most comprehensive crypto exchange
- Most advanced features and products
- 24/7 customer support
- 400+ cryptocurrencies
- Reputable with over 200 million users
- Best liquidity
Cons
- Not beginner friendly
- Restricted in many regions due to regulations
- EU traders must use BNFCR for futures trading
Overview
Reaching over 200 million registered users in 2024, Binance is by far the largest crypto exchange in the world. The platform is incredibly comprehensive, offering crypto traders all the tools they need to make a profit in the crypto market.
With over 400 cryptocurrencies to trade, leverage of up to 125x, directly integrated charts from TradingView with tons of technical analysis tools, and many more features, Binance has secured its spot as one of the best crypto exchanges.
Binance offers a wide variety of products, including spot, margin, futures, and options trading, staking, lending, P2P, automated bot trading, copy trading, and even an NFT marketplace. It is safe to say that crypto geeks will find everything they are looking for on Binance.
The trading fees on Binance are very affordable. Binance charges 0.1% trading fees on the spot market (makers and takers alike), which is the industry standard. Where Binance excels is the futures market with fees of only 0.02% for makers and 0.05% for takers.
3. KuCoin
Users:
30m
Free Demo:
Mobile App:
Bonus
$10,500
Cryptos:
800+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- Beginner friendly
- 800+ supported crypto assets
- 125x leverage and deep liquidity
- 20+ fiat currencies
- Great 24/7 customer support
Cons
- Lacks advanced features
- Not the best liquidity
- Regulatory issues in the US
- Variable spot fees
Overview
Kucoin focuses on offering the best spot trading experience. With over 800 supported cryptos on the spot market, Kucoin is one of the most versatile crypto exchanges when it comes to supported assets. You can trade popular cryptos such as Bitcoin or Ethereum but also less-known cryptos and even meme coins. If you are on the hunt for new and shiny coins that are not popular yet, Kucoin might be your best shop.
Spot fees on Kucoin are relatively average, ranging from 0.1% to 0.32% based on the liquidity of the asset. Futures trading on Kucoin starts at a maker fee of 0.02% and a taker fee of 0.06%.
Kucoin has integrated and ready-to-use crypto grid trading bots to automate your income. You can set up grid bots based on several parameters to trade for you 24/7.
4. OKX
Users:
50m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
350+
Leverage:
100x
Spot Fees:
0.14%/0.1%
Futures Fees:
0.01%/0.06%
Pros
- Highly efficient trading platform
- 350+ assets
- Free demo trading
- Fiat supported
- 24/7 customer support
Cons
- Not available in the US
- Not beginner-friendly
- Limitations and restrictions in Europe
OXK Overview
OKX is the third largest crypto exchange sorted by daily derivatives volume. This is no surprise since OKX’s focus lies in offering a high-efficiency leverage trading experience. While the UI is not necessarily beginner-friendly, it is one of the fastest and most reliable platforms we have come across.
Over 300 coins are supported on OKXs spot market while 250 contracts are available for futures trading with up to 100x leverage. What makes OKX stand out is its extensive liquidity which are without a doubt at the top of the game.
With low futures fees starting at 0.02% maker and 0.05% taker, OKX ensures a cost efficient derivatives trading environment. Spot trading fees however are on the more expensive side starting at 0.14% for makers and 0.23% for takers.
You can easily deposit funds using your credit/debit card. Additionally, you can deposit and withdraw fiat using your personal bank account, making OKX a reliable platform for on- and off-ramp funds.
5. Kraken
Users:
10m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
220+
Leverage:
100x
Spot Fees:
0.25%/0.4%
Futures Fees:
0.02%/0.05%
Pros
- Very beginner-friendly
- Low futures trading fees
- Free demo trading
- Fiat supported
- 24/7 customer support
- Fully regulated
Cons
- High spot trading fees
- Lacks advanced features
- Poor liquidity for futures trading
- Complicated Demo trading
Kraken Overview
Kraken stands out as one of the most beginner-friendly crypto exchanges. With an easy to understand UI, simple features, and a straightforward approach, Kraken has onboarded over 10 million users to its platform from all around the world.
Spot traders can access over 220 cryptocurrencies for buying and selling. For traders seeking more buying power, Kraken offers a leverage trading platform with up to 50x leverage on selected assets such as BTC.
In terms of fees, Kraken has a different approach for spot and futures trading. While spot trading fees are relatively high (0.25% maker and 0.4% taker), the futures fees are very low (0.02% maker and 0.05% taker). Based on your 30-day trading volume, you can obtain additional fee discounts.
What we love about Kraken is its comprehensive fiat support. You can deposit funds using your credit card or bank transfer. Once you are done trading, you can withdraw fiat currencies such as EUR or USD back to your personal bank account to lock in your profits.
Is Crypto Legal and Regulated in Angola?
Cryptocurrency operates in a regulatory gray area in Angola. The National Bank of Angola (BNA) maintains oversight of financial services but has not established comprehensive cryptocurrency regulations. In 2022, the BNA issued warnings about cryptocurrency investments but has not explicitly banned their use.
The Capital Markets Commission (CMC) of Angola has initiated discussions about creating a regulatory framework for digital assets. However, no specific legislation currently exists to govern cryptocurrency trading or ownership.
Financial institutions in Angola must comply with strict anti-money laundering (AML) regulations when handling any digital asset transactions. The government requires cryptocurrency exchanges operating in Angola to implement Know Your Customer (KYC) procedures and report suspicious transactions to the Financial Intelligence Unit.
Recent developments indicate increasing interest from Angolan authorities in establishing a more defined regulatory framework for cryptocurrencies, focusing on consumer protection and financial stability. The CMC has been studying regulatory models from other jurisdictions to develop appropriate guidelines for the local market.
Is Crypto Taxable in Angola?
Angola’s tax framework for cryptocurrencies remains undefined. The General Tax Administration (AGT) has not issued specific guidelines for cryptocurrency taxation. However, income from cryptocurrency trading may fall under the general income tax framework:
- Capital gains from cryptocurrency trading could be subject to the standard capital gains tax rate of 15%
- Professional traders operating as businesses may need to pay the Industrial Tax, which ranges from 25% to 35% on profits
- Cryptocurrency mining operations might be classified as business activities, potentially subject to industrial tax rates and equipment import duties
Additional tax considerations for Angolan crypto investors include:
- International exchange transactions may require additional reporting
- Crypto-to-crypto trades could trigger taxable events
- Mining equipment imports may incur customs duties
- Foreign income reporting requirements may apply to offshore crypto holdings
Disclaimer:
Tax laws are subject to change, and individual circumstances may vary. It is strongly advised to consult with a qualified tax professional or financial advisor for personalized guidance on cryptocurrency taxation in Angola.
How to Buy Crypto in Angola
Buying cryptocurrency in Angola requires careful consideration of payment methods and exchange selection. Bybit offers the most reliable service for Angolan traders, with multiple payment options and strong security measures.
- Select a Crypto Exchange: Opt for a platform that accommodates your preferred payment methods and fulfills KYC obligations.
- Complete Registration: Register and confirm your identity by providing valid documentation.
- Fund Your Account: Add funds using bank transfers or credit cards, which are the most widely used methods in Angola.
- Choose Cryptocurrency: Pick from popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), or stablecoins like USDT.
- Execute Trade: Execute your order at the current market price or establish a limit order.
- Secure Your Assets: Move acquired cryptocurrencies to a secure wallet for safekeeping.
Best Crypto Wallets in Angola
Choosing a secure cryptocurrency wallet is crucial for traders in Angola. Here are the top suggestions:
Ledger hardware wallets offer the highest level of security for long-term asset storage. The Nano S Plus and Nano X models are compatible with various cryptocurrencies and provide offline storage options.
Trezor presents another reliable hardware option with its Model One and Model T devices, which come with built-in screens for verifying transactions.
For mobile users, Trust Wallet offers an easy-to-use solution that supports multiple blockchains and DeFi functionalities. MetaMask is the preferred choice for handling Ethereum and ERC-20 token transactions.
Exodus desktop wallet merges security with a user-friendly interface, supporting over 200 cryptocurrencies and featuring built-in exchange capabilities.
Bottom Line
For traders seeking the best crypto exchanges in Angola, Bybit stands out with its competitive fees and reliable platform. Binance offers an extensive selection of trading pairs and robust security features. Both exchanges provide comprehensive trading tools and support multiple payment methods suitable for Angolan users. Consider factors such as security measures, trading fees, and available payment options when choosing an exchange. Always maintain proper security practices and stay informed about local regulations and tax implications.
