Cryptocurrency in Cameroon

    Crypto markets in Cameroon are growing rapidly, putting it ahead of much of Central Africa. The popularity of digital assets, including Bitcoin, Ethereum and USDT, continues to rise although few regulatory guidelines exist. Cameroonians still use both international crypto exchanges and person-to-person (p2p) services for trading and storing digital currencies. Although decentralized finance (DeFi) and mobile crypto wallets have emerged, the informality of the market hasn’t stopped its growth.

    People in Cameroon use cryptocurrency to avoid the risks of currency loss, make international payments, keep their cash stable against inflation and invest online. Crypto is growing in popularity because people use technology more, own phones and have more skills using the internet. Because Ghana is at the heart of economic activities in West and Central Africa, it is an important regional hub for blockchain development.

    Those involved in policymaking, new fintech services, regulation and supporting blockchain in Africa will find Cameroon’s story useful to understand crypto adoption in regions which are not well-served by traditional finance.

    Crypto in Cameroon – The Current Scene

    Cameroon’s market for cryptocurrency is showing growth. Based on predictions by Statista Market Insights (2025), it is expected that the revenue for the market in 2025 will be US$29.4 million. Expert predictions show that revenue will hit US$34.0 million in 2026 if the CAGR remains 15.59%. Revenue per user is predicted to reach about US$27.5 in 2025.

    A lot of new users are joining the community every day. There are expected to be almost 1.3 million people involved in crypto trading by 2026, while 2025 had only around 1 million. The penetration rate goes up from 3.59% in 2025 to 4.12% in 2026. Trading, sending and receiving money, protecting assets and interacting with the global digital economy are some important crypto uses in Cameroon.

    Many people in Douala, Yaoundé and Buea exchange cryptocurrency using Binance P2P, Coinbase and KuCoin. Users are able to use MTN and Orange mobile money services to fund crypto wallets and collaborate with no need for banking.

    Cameroon’s Crypto Market Overview

    Crypto activity in Cameroon is concentrated around trading, remittances, and wealth preservation. Many users convert CFA francs to stablecoins like USDT to hold value, bypassing the impact of inflation. With increasing interest in dollar-pegged assets and decentralized access to financial services, crypto offers an attractive alternative in a country where traditional banking services are often limited or inaccessible.

    Bitcoin and Ethereum remain the top assets, but there is also growing demand for BNB, SHIB, and SOL. Altcoins and NFTs are beginning to attract attention from artists and developers exploring token-based income models. Binance, Kraken, KuCoin, and Coinbase remain dominant exchanges, thanks to their mobile apps and P2P functions.

    Cameroon’s ecosystem is evolving slowly but surely, with small startups exploring crypto payment plugins, fiat-to-crypto gateways, and smart contract applications. Community-led initiatives continue to support awareness and education.

    Regulation of Crypto in Cameroon

    Cameroon has yet to set any clear rules for cryptocurrencies. Crypto assets are not recognized as legal money and ownership and trading principles have not been set. But the fact that there is no ban allows users to use crypto and decide what level of risk they are comfortable with.

    Regulators are approaching the topic of regulation with care to support consumers, register businesses and ensure compliance with anti-money laundering rules (AML). No formal decision on central bank digital currencies (CBDCs) has been announced, but the topic of digital advancements in finance is becoming more popular. 

    In Progress—Regulation

    • Internal discussions around drafting regulatory frameworks are ongoing
    • Exchange licensing and wallet provider registration may be introduced
    • AML and KYC practices for crypto businesses are being reviewed
    • Regulation may open doors for formal remittance corridors and DeFi use in local business sectors

    List of Cameroon Crypto Exchanges & Platforms

    Currently, there are no licensed local crypto exchanges in Cameroon. The market is dominated by global players such as Binance, Coinbase, KuCoin, and Kraken. These platforms offer mobile compatibility, P2P trading, and international liquidity. Binance P2P is particularly favored due to its CFA franc support and direct integration with mobile money operators.

    Startups are also testing crypto payment integrations in e-commerce and microfinance. As the policy environment matures, local exchanges could emerge with full support for mobile money, regional currency pairs, and customer protection mechanisms.

    Cryptocurrency Wallets in Cameroon

    Most of the people in Cameroon rely on global wallets like Trust Wallet, MetaMask and Coinbase Wallet. Many major cryptocurrencies and tokens can be used on these applications which makes them suitable for both beginners and experts. Investors with more cryptocurrency usually choose a Ledger or Trezor cold wallet.

    People are still very concerned about digital safety. Telegram, WhatsApp and fake investment websites are used by scammers to deceive many people. People must be taught about private key safety, how to detect phishing and their wallet backup options. Now, some fintech efforts involve making wallets for Francophone African users which include bilingual support and enhanced security measures.

    The Taxation of Cryptocurrency in Cameroon

    By mid-2025, cryptocurrency tax laws had not yet been introduced in Cameroon. Crypto trading, staking, mining or DeFi do not trigger capital gains or income taxes for the earnings. As more revenue and users are seen, the government could add new tax systems.

    Possible future developments include:

    • Capital gains tax on profitable crypto trades
    • Income tax on DeFi yields, mining, and staking activities
    • Reporting requirements for exchanges and custodial wallets
    • User education to ensure voluntary compliance and smooth enforcement

    Until clear policies are introduced, users are encouraged to keep personal transaction records and monitor announcements from the Ministry of Finance.

    Crypto Community & Education in Cameroon

    Cameroon’s crypto community is active and growing. Telegram groups, Facebook pages, and Twitter spaces are central to knowledge sharing. Blockchain clubs in universities like the University of Buea and University of Yaoundé I host discussions and training sessions.

    Events such as Africa Blockchain Week, online meetups, and developer bootcamps are exposing more young people to DeFi, smart contracts, and NFTs. NGOs and tech incubators are starting to offer workshops focused on blockchain development and financial literacy.

    Formal education remains limited, but informal learning channels are expanding. Bilingual resources are helping bridge the digital divide in English and French-speaking regions.

    The Future of Cryptocurrency in Cameroon

    Cameroon’s crypto space is at a pivotal point. With a young population, rising digital access, and growing informal adoption, the country is primed for a larger crypto footprint in Central Africa. If regulatory support arrives, it could unlock new opportunities for blockchain startups, cross-border commerce, and digital inclusion.

    Anticipated developments:

    • Regulation of exchanges, wallets, and custodial services
    • Tax clarity for crypto income and capital gains
    • Stronger integration of crypto with mobile money services
    • Public-private partnerships for blockchain-based financial tools

    If nurtured, Cameroon’s ecosystem could serve as a bridge between traditional finance and decentralized systems in the region.

    Frequently Asked Questions (FAQs)

    1. Can people in Cameroon legally access and use crypto in 2025?

    Crypto is acknowledged in the law, but is not yet regulated. Officials are considering how policies should be made.

    2. Can Cameroon residents buy Bitcoin using mobile money?

    Yes. Binance P2P and Paxful provide the chance to buy BTC using MTN Mobile Money or Orange Money.

    3. Do Cameroonian tax laws cover profits from crypto currency?

    There are no taxes being collected at this point. It is possible that future regulations could add capital gains and income tax.

    4. Is there a risk of being penalised for using crypto in Cameroon?

    Currently, there are not any penalties. Though marijuana can be used legally, there are no policies regulating it which means you should take precautions.

    5. Is there a secure way to keep crypto in Cameroon?

    You should use a hardware wallet such as Ledger for better security. MetaMask and other hot wallets ought to be protected with a strong password and awareness of phishing scams.

    6. Can you access a crypto exchange in Cameroon?

    Not yet. Binance, KuCoin and additional globally trusted platforms are used by many users. Other ways to bet might become available when regulation takes place.

    7. Which cryptocurrencies are used most often in Cameroon?

    Most people prefer to use Bitcoin, Ethereum and USDT. More people are becoming interested in BNB, SHIB and SOL.

    8. Has Cameroon started creating a Central Bank Digital Currency?

    There is no official CBDC project yet, but regional talks might influence future desire for one.

    9. Are there many crypto scams happening in Cameroon?

    This is one of the reasons phishing and Ponzi schemes happen daily. Knowledge and awareness are very important for avoiding accidents.

    10. Do Cameroonian startups have the chance to get funding with crypto?

    Yes. Startups are allowed to use stablecoins or crypto payments to raise capital, even though the law is still missing.