Distributed Cryptocurrency is on a wave around the world. Since the invention of Bitcoin, there have been over 900 new digital currencies all facilitating electronic exchange of currency without clearing houses, central banks and governing control. Bitcoin is the most popular of these electronic currencies with its trading volume at about $12 million per day and a market capitalisation of over $73 billion.
Buying and Selling Bitcoin for many crypto enthusiasts and newcomers can be a hassle. One has to find a legitimate seller or buyer, agree on pricing over chat and figure out a medium of sending actual money to facilitate the transaction.
Operating out of Lagos, Nigeria, Bitkoin Africa hopes to solve these problems and has launched a Bitcoin exchange for trading. The exchange serves as a listing site but is also an escrow service. Traders can pay and get paid instantly without interfacing with a third party. Bitkoin Africa only pays out or transfers Bitcoin when transactions have been confirmed. This makes it the easiest, fastest and safest place to purchase and sell Bitcoin in Africa.
For sellers, the exchange is currently open to sellers from Nigeria as each use is Verified by Phone number, BVN and Bank account before trading. Prospective buyers can purchase Bitcoin using their bank card or bank account. Each buyer is also verified before trading.
A unique Quickbuy feature enables anyone with an existing Bitcoin wallet make a purchase instantly. As soon as payment is confirmed, the Bitcoin wallet is credited. Bitkoin Africa also features a wallet service that allows users store Bitcoin for trading purposes as well as receiving and sending Bitcoin.
In a statement made available to Innovation Village, the Bitkoin Africa team said “We are excited to show Africa the product we’ve been working on for a while. We picked Bitcoin first because it is the most popular cryptocurrency and we wholly trust it. We are open to adopting other digital currencies in future as well as expanding to the rest of Africa”.
