Best FOREX Brokers And Crypto Platforms For Cameroonians

Best Forex brokers and crypto platforms for Cameroonians.

Below is the list of best Forex brokers and cryptocurrency exchanges for Cameroonians. We are bring out the list because thousands of traders from Cameroon have been knocking our doors at " Cameroon Online School of Forex" asking us for the best brokers in Cameroon.

What is Forex trading and how does it works?

When you make a forex trade, you sell one currency by buying another. You profit if the currency you buy moves up against the currency you sold. For example, lets say the exchange rate between the Euro and the USD is 1.40 to 1 and if you buy 1000 euros, you would pay $1400. 

Its very simple. When buying you make profit and when selling you make profit as well. Hey! all is done using you mobile phone or laptop.

Here are the best Forex trading platforms for Cameroonians;

fbs.com (accepts Orange and MTN momo, btc, Litcoin, USDT, Dogecoin, Perfect Money , onlinenaira, skrill e.t.c...

exness.com (Deposit and Withdraw with MTN Mobile Money and many cryptocurrencies)

octafx.com  ( Supports more than 6 cryptocurrencies and bank cards).

justforex.com ( supports MTN MOMO and many cryptocurrencies)

binary.com trade CFDs, Forex e.t.c... Supports btc, PM, USDT, e.t.c...

What is Cryptocurrency trading?

If you are looking for crypto to buy or sell, you will need to use a cryptocurrency exchange. These online services often work similarly to stock brokers, giving you the tools to buy and sell digital currencies like Bitcoin, Dogecoin, BNB, Ethereum, Stellar, Bittorent, Bkex e.t.c.. 

The best crypto exchanges makes it easy to buy and sell currencies you want with low fees and strong security features. When choosing the best crypto exchange, its important to look for support currencies, pricing, withdrawal options and security. These are features we focus on when picking the list of the best crypto exchanges for your goals.

Note the with crypto trading you only make profit when a currency is appreciating(rising).

Here are the best cryptocurrency trading platforms for Cameroonians;

binance.com

www.bkex.com 

bitmart.com

Use any of the platforms to create a trading account. 

Whatsapp +237675421156 in case you encounter a problem or wish to learn forex trading in Cameroon or elswhere.

Cameroon Online School of Forex is the Best forex academy in West and Central Africa under the CEO Nshing Rooney.

Cameroon Government To Legalize Cryptocurrencies

 

Cameroon to embrace cryptocurrencies soon.

Cryptocurrency is the world’s digital currency, used exclusively for online transitions. It is the currency the government of Cameroon has begun making plans to legalize.

Senior officials of the Ministry of Post and Telecommunications discussed “cryptocurrency Challenges, opportunities, and risks in Cameroon” in a workshop in Yaoundé on November 15.

Discussions were chaired by the Minister of Post and Telecommunications, Minette Libom Li Likeng during which
participants examined mechanisms that will facilitate the process to legalize and possibly regulate the use in Cameroon.

What is Cryptocurrency?

Cryptocurrency is a digital currency used for online financial transactions. There are currently about 6500 cryptocurrencies among some of the most widely used currencies are ; Bitcoin, Cardano, Stellar, Etherium , Solana, BCH, Binance coin and many others. 

The currency which is 100% virtual is the fruit of digital technology. Cryptocurrency can be stored in a digital wallet, and protected by a secret code, which belongs to the owner.

According to Minister Libom Li Likeng, “cryptocurrencies are decentralised digital currencies, which use cryptographic algorithms and a protocol called blockchain, to ensure the reliability and traceability  of transactions”.

Since cryptocurrency went into use in 2009, they have continued to be popular because of the absence of control of central banks. The cryptocurrency age is seen by many people as the most convenient era of exchange. As far as cryptocurrency is concerned, coins in gold, or silver or even bank notes are completely inexistent. It is a system of transfer of digital assets.

Buying and selling using cryptocurrency is done through online exchange platforms.

Cryptocurrency blessings

Many countries around the world are now creating and using their own digital currency. The over 6,000 cryptocurrencies in the world, have varied properties, features and uses.

Many people who have welcomed the new currency saying it is a decentralized digital currency with traceable transactions, secured by blockchain. People do not need banks to do transactions. Transactions are instant, and void of worries about interest rates and bank requirements. Cryptocurrency also uses a technology known as cryptography, to secure the system.

As for the Cryptocurrency services, Minister Minette Libom Li Likeng says “Cryptocurrency offers among other things, greater speed in transactions, greater reliability and security, availability and mobility, transparency and accessibility, as well as lower costs. Moreover, their values are driven by scarcity, as with precious metals”.

The Dark Side

A host of countries around the world have been using cryptocurrency for online financial transactions for over a decade now. Some African countries like Botswana, Ghana, South Africa, Zimbabwe, Kenya and Nigeria have developed their own digital currencies.

Regardless of how many countries have embraced Cryptocurrency for online transactions, but many worry about the volatile nature of the currency. Dr. Winfred Mfuh, Technical Adviser in the Ministry of Post and Telecommunication says cryptocurrency can not be regulated. It’s worth can’t be measured. Values change as demands also change.

“ There are scamming risks. Someone says he is selling cryptocurrency, do you know how it looks like ? Do you know where it comes from ? Who regulates it ? Once you take that risk, you have you have no insurance no one to blame, and nobody to go to”.

Cryptocurrency is not really accepted in most countries as a means of payment. The value also changes quickly, often determined by its demand.

Cryptocurrency use around the world is fast growing, regardless.

Do you wish to buy and sell or learn how to trade cryptocurrencies? Contact Cameroon Online School of Forex now +237675421156.

How To Buy and Sell a Cryptocurrency On Bkex Platform

 

Invest with Alex today.

bkex.com is a cryptocurrency trading platform with hundreds of cryptos- digital assets even more than coinbase and binance combined.

Bkex offers a simple to use platform even for crypto novists. Below i will explain how to use the platform with ease.

How To buy a cryptocurrency on Bkex.

Use chrome browser to login, enter email and password the click "get" to receive your sms code.

On the menu, click spot followed by "Exchange". From there you will have different cryptos to your left. To buy a crypto make sure you have USDT on your account.

Below the chart you will see Limit order, Market order and Sell-limit order. Please click "Market order". On buy volume enter the amount of the small coin (memecoin) you wanna buy. Just below it you will see the usdt value of the coins you wanna buy. Hit buy. Hurrrreeee you have bought your first crypto.

How To Sell Your Profit made on bkex.com Back to USDT.

To your right, under chart you will find the available amount of the small coin (crypto) you have. Under "Sell volume" enter the amount of the smaller coin you want to withdraw. Below it you will see the amount in Dollars. Click sell and your money transferred to your USDT wallet ready for withdrawal.

How To Withdraw your USDT to external wallet.

On your menu, click "assets" then click "Withdraw" then select "USDT". Make sure you select the same "Chain name (network) e.g TRC20 meaning that the network receiving is also TRC. Fill in your wallet address on blank space then below it enter your " withdrawal amt". Hey network fee is $1. Then click confirm to withdraw.

How To deposit using USDT

Still under assets, click "deposit", followed by USDT and select the "chain name" e.g TRC20

Copy the address and enter on the wallet you wish to use to send money to your Bkex account and follow the procedure and send. Now you will receive your cash on Bkex and can use it to buy cryptos as explained above.

Please register and account here and trade 200+ cryptocurrencies on one platform www.bkex.com and contact us on whatsapp +237675421156 your best cryptocurrency and forex trainer in Cameroon and Central Africa for more mentorship.

Nshing Rooney is a crypto and forex trader and trainer from Cameroon. He founded Cameroon Online School of Forex in 2017 and today is one of the best forex academy in west and central Africa. He is passionate about Agriculture, blogging and teaching.

SHIBA INU On A Bullish Move

 

SHIBA price prediction.

SHIBA inu is currently trading at 0.000035.9, ranking it at 4th position on binance with a 24h trading volume of 370.8 M

At D1, you will notice that for the past 3 weeks SHIBUSDT has crossed waves 1 and 2 and now heading to wave 3 of Elliott's waves.

SHIBA Inu rose by 1.60% on Friday. Partially reversing a 5.95% slide from Thursday, Shiba Inu Coin ended the day at $0.00002793.

A bearish start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00002703 before making a move.

Steering clear of the first major support level at $0.0000266, Shiba Inu Coin rallied to a late morning intraday high $0.00002850.

While falling short of the first major resistance level at $0.0000288, Shiba Inu Coin broke through the 23.6% FIB of $0.00002831.

An afternoon pullback saw Shiba Inu Coin fall back through the 23.6% FIB of $0.00002831 to sub-$0.0000725 levels before finding support.

SHIBA next target is 0.000045 before the end of December and it low 0.000023.

Create and account here on binance.com and start trading.

Cameroon Online School of Forex

Nshing Rooney.