Nigerian CryptoCurrency App ‘BuyCoins’ Hits Milestone; Processes Over N500 Million Worth of Cryptocurrency in 3 Months

buycoins

BuyCoins, an instant cryptocurrency exchange app in Nigeria, has hit a major milestone after processing over N500 Million worth of cryptocurrency in the space of 3 months. This good news was shared by co-founder, Timi Ajiboye.

The app, which was launched in February by Crypto startup, Bitkoin Africa is designed to help users buy and sell cryptocurrency with ease and within minutes. Available on iOS and Android stores, the app allows users to sign up for free. It also supports multiple cryptocurrencies – Bitcoin, Ethereum and Litecoin.

The Story So Far

Bitkoin Africa, the startup behind the BuyCoins app, was established in 2017 during the sudden popularity in the cryptocurrency market. It was formally launched in October, 2017 after 4 months of testing. Being a peer-to-peer platform, users would have to wait or look for traders before they can buy or sell. For that reason, for more than a year after establishment of the original platform, it still hasn’t hit a 10th of the figures the app just hit.

https://twitter.com/timigod/status/1053028782624440321

Earlier this year, Bitkoin launched its app, BuyCoins, which allows users invest their money in cryptocurrency by selecting a coin and paying with their bank account or debit card.

Users who already have Bitkoin Africa accounts would simply have to sign in with their email address and password. Then they will be required to verify their identity using their Bank Verification Number (BVN), bank account, and phone number. After the verification, they can begin to buy or sell cryptocurrency within seconds with no transaction fees.

With its brilliant ventures, it soon attracted the attention of Microtraction; an early-stage startup investor who announced an undisclosed amount of funding in Bitkoin Africa.

Now, Buycoins continues to carve a niche and establish itself in the cryptocurrency space. It also promises billions of cryptocurrency transactions on its platform soon and with this recent milestone, it won’t be surprising if it happens a lot sooner.

Although crypto trading seems to be a very volatile market, Nigerians, ever the natural risk-takers, are still willing to jump on the cryptocurrency train. For this reason, BuyCoins may be the next big thing in the Nigerian Crypto market.


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