Summary
Cryptocurrency trading is legal in Mozambique, though it operates in a regulatory gray area with no specific framework. The Bank of Mozambique (Banco de Moçambique) maintains oversight of financial activities but has not issued comprehensive crypto regulations. Popular payment methods include bank transfers and credit cards, with some exchanges supporting the Mozambican Metical (MZN). Here are the best crypto exchanges in Mozambique:
Best Crypto Exchanges in Mozambique
When selecting cryptocurrency exchanges in Mozambique, traders need to consider several key factors, including payment methods, supported cryptocurrencies, and compliance with local regulations. The Mozambican Metical (MZN) is supported by select exchanges, while others require conversion to USD or EUR first.
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. Coinbase
Users:
100m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
250+
Leverage:
5x
Spot Fees:
0.4%/0.6%
Futures Fees:
0.02%/0.05%
Pros
- Most beginner-friendly exchange
- Fully regulated and licensed
- Great customer support
- Reputable with over 100 million users
- Comprehensive fiat deposit methods
- Great wallet for on-chain access
Cons
- Lacks advanced features
- Very high spot trading fees
- Poor liquidity
Coinbase Overview
Coinbase is one of the largest and most well-known cryptocurrency exchanges for buying cryptos.The platform currently has a user community of over 100 million users worldwide. What makes Coinbase special is its user-friendly interface. The platform is designed to be easy to use, making it accessible for beginners. Coinbase offers a clean and intuitive interface for buying, selling, and managing cryptocurrencies.
Crypto traders have access to over 250 cryptos for active trading. One downside of Coinbase is the fee structure. When you place an order at the market price that gets filled immediately, you are considered a taker and will pay a fee of 0.60%, which is very expensive.
Another thing about Coinbase is that it offers a wide range of crypto services. These include wallets, NFT, crypto staking, Coinbase cards, and many more to help improve the overall trading experience on the platform. One of our favorite features is the Coinbase wallet.
It is suitable for beginners but also offers advanced trading tools including real-time charts, technical indicators, and many more for advanced traders.
3. Gemini
Users:
30m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
76+
Leverage:
20x
Spot Fees:
0.25%/0.35%
Futures Fees:
0.02%/0.07%
Pros
- Most beginner-friendly exchange
- Fully regulated and licensed
- Great customer support
- Reputable with over 100 million users
- Comprehensive fiat deposit methods
Cons
- Lacks advanced features
- Very high spot trading fees
- Only 20x leverage and 76 cryptos
Gemini Overview
Gemini is a cryptocurrency exchange and custodian known for its strong emphasis on regulatory compliance and security.
The platform prioritizes security and employs various measures to protect user funds and data. These include two-factor authentication (2FA), cold storage, hardware security keys, and regular security audits. Gemini also offers insurance for digital assets held in its custody.
Gemini functions primarily as a spot trading platform, offering access to over 76 cryptos for active trading. Trading fees are set at 0.25% for makers and 0.35% for takers.
What makes Gemini stand out is its wide range of crypto services. Aside from spot trading, Gemini offers, Custody services, Gemini Earn, Gemini Pay, Active Trader, and many more to help users earn passive income and improve the overall trading experience on the platform.
4. BingX
Users:
23m
Free Demo:
Mobile App:
Bonus
$6,200
Cryptos:
840+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- No KYC required
- 800+ assets (even stocks and forex)
- Up to 200x leverage
- Fiat supported
- Advanced order types
Cons
- Not available in the US
- No bot trading
- Traditional markets are B-Book
Overview
Founded in 2018, BingX is a derivatives exchange based in Singapore. The exchange has risen to global standards and now has offices in other major regions such as the EU, Canada, Hong Kong, and others. BingX currently boasts a user base of 10 million registered customers worldwide and is present in over 100 countries.
With an easy-to-navigate platform, BingX offers users 800+ cryptocurrencies, stocks, and forex to trade, with a smooth interface for trading spot or futures. BingX currently has a daily trading volume of $489 million for spot and $7 billion for futures.
Users of BingX can trade with flexibility and benefit from sophisticated trading tools such as order books, charts, and market data.
Trading fees on BingX are very affordable, starting at 0.02% and 0.05% maker and taker for futures trading, and 0.1% maker and taker for spot trading.
5. Tapbit
Users:
500K
Free Demo:
Mobile App:
Bonus:
Upto $320
Cryptos:
352+
Leverage:
150X
Spot Fees:
0.10%/0.10%
Futures Fees:
0.02%/0.06%
Pros
- Wide range of supported cryptocurrencies
- Beginner-friendly platform
- Provides advanced trading tools
- Leverage up to 200x on derivatives and perpetuals
- Accept stablecoins with no hidden fees
Cons
- Fewer coins than global exchanges
- No advanced options like margin trading
- Not available in the US
Tapbit Overview
Tapbit is a cryptocurrency exchange that serves both spot and futures traders, supporting over 349 digital assets. The platform offers futures trading with leverage up to 150x, making it suitable for traders seeking significant position sizes.
The fee structure on Tapbit is competitive, with spot trading fees at 0.1% for both makers and takers. Futures trading comes with even lower costs at 0.02% maker and 0.06% taker fees. New users can access a $320 welcome bonus when joining the platform.
Tapbit’s features include a mobile application for trading on the go and advanced trading tools for technical analysis. The platform also integrates forex trading capabilities, expanding beyond traditional cryptocurrency markets. The absence of KYC requirements allows for quick account setup and maintains user privacy.
Key limitations include the platform’s relatively recent entry into the market and the lack of staking options. While the exchange serves 500,000+ users, it doesn’t offer passive income opportunities, which may affect long-term holders seeking yield on their assets.
The platform provides 24/7 customer support through live chat and email channels. However, Tapbit does not offer a demo account for users to practice trading strategies without risking real funds.
Is Crypto Legal and Regulated in Mozambique?
Cryptocurrency operates in a regulatory gray area in Mozambique. The Bank of Mozambique (Banco de Moçambique) serves as the primary financial regulator but has not established specific cryptocurrency regulations. In 2022, the central bank issued warnings about cryptocurrency risks but has not implemented an outright ban.
The Financial Intelligence Office (GIFiM) monitors financial transactions for anti-money laundering (AML) compliance, including potential cryptocurrency-related activities. While cryptocurrency trading is not explicitly prohibited, financial institutions must follow strict Know Your Customer (KYC) and AML procedures when dealing with crypto-related transactions.
The government’s approach aligns with the broader regional stance in Southern Africa, where cryptocurrencies are permitted but operate without specific regulatory frameworks. Financial institutions in Mozambique must report suspicious transactions related to cryptocurrency trading to the central bank.
Is Crypto Taxable in Mozambique?
Mozambique’s tax authorities have not issued specific guidance on cryptocurrency taxation. However, under general tax principles, income from cryptocurrency trading may be subject to taxation. The Mozambique Tax Authority (Autoridade Tributária de Moçambique) typically considers capital gains from investment activities taxable.
Capital gains tax rates in Mozambique range from 20% to 32% for investment income. While not explicitly stated for cryptocurrencies, these rates may apply to crypto trading profits. Mining income might be classified as self-employment income, subject to progressive tax rates up to 32%.
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 Mozambique.
How to Buy Crypto in Mozambique
Purchasing cryptocurrency in Mozambique requires selecting a reliable exchange that supports local payment methods. We recommend Bybit for its comprehensive features and strong security measures.
- Choose a Crypto Exchange: Ensure the exchange you select supports payment methods available in Mozambique and complies with local KYC regulations.
- Register Your Account: Complete the registration process by submitting the required identification documents. Follow the exchange’s KYC procedures to verify your account.
- Add Funds to Your Account: Deposit money into your account using available options, such as bank transfers, credit cards, or other payment methods commonly used in Mozambique.
- Select Your Cryptocurrency: Choose from popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), or stablecoins such as USDT.
- Place Your Trade: Execute your trade by placing an order at the current market price or by setting limit orders to target specific price points.
- Store Your Crypto Securely: After purchasing your cryptocurrencies, transfer them to a secure wallet to keep them safe for long-term storage.
Best Crypto Wallets in Mozambique
To effectively secure your cryptocurrencies, it’s important to utilize trustworthy wallet solutions. Hardware wallets are ideal for maximum security, making them suitable for long-term storage, while software wallets provide ease of use for everyday transactions.
Hardware Wallets:
- Ledger – The industry benchmark for secure cryptocurrency storage
- Trezor – Offers an intuitive interface along with robust security features
Software Wallets:
- Trust Wallet – A mobile wallet that supports various cryptocurrencies
- Exodus – A desktop wallet equipped with integrated exchange functionalities
- MetaMask – A browser extension wallet tailored for DeFi engagement
Bottom Line
For accessing the best crypto exchanges in Mozambique, we recommend Bybit as the primary choice due to its competitive fees, extensive cryptocurrency selection, and reliable security measures. Coinbase serves as an excellent alternative, offering a user-friendly platform with strong regulatory compliance. Both exchanges provide comprehensive trading features while supporting various payment methods accessible to Mozambican users.
