THELOGICALINDIAN - Bitcoin is growing in acceptance in Africa decidedly in regions such as Kenya Nigeria and Ghana This anniversary the Hong Kongbased Bitspark has launched a remittance account to Nigeria at ante 144 percent bigger than competitors by leveraging the acceleration and ability of the Bitcoin network
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Bitspark Offers Cheaper Remittances by Leveraging the Bitcoin Blockchain
The startup Bitspark is a cryptocurrency-financial casework provider application the Asia-Pacific arena and now countries amid in Africa. The aggregation has created an end to end remittance account powered by the Bitcoin blockchain. Bitspark says they will focus on Nigeria aboriginal as the country has the better citizenry and abridgement aural the African continent. According to statistics, Nigeria has accustomed an anniversary US$21 billion in remittances from countries beyond the globe.
Bitspark capacity that its anew launched Nigerian acquittal account will save bodies transaction costs as the aggregation believes it is far cheaper than remittance competitors.
“For every one dollar you accelerate to Nigeria you’ll accept $0.14 added than if you use a competitor’s action which at the end of the day can assignment out to be hundreds of dollars to the boilerplate transaction,” explains Bitspark.
Significant Interest Stems from South African Countries
South African countries are all-embracing bitcoin as Google Trends credibility out significant interest is arising from Nigeria and Ghana. Furthermore, according to a research report from the wallet provider Luno, apropos South Africa, bitcoin is adorable to citizens aural the country. Luno’s address additionally capacity that 66 percent of South Africans surveyed say they assurance bitcoin. 12.9 percent of responses say South Africans are application it for faster payments but 39.6 percent of those surveyed are captivation bitcoins as an advance vehicle.
Other Bitcoin-Based Payment Service Startups Are Targeting the African Continent
Just afresh the acquittal belvedere startup Bitwala announced a new account alms bitcoin-to-M-Pesa affairs at aught cost. Bitwala barter will be able to advance the account to accelerate funds to accompany and ancestors associates in Kenya, Nigeria, Uganda, and Tanzania chargeless of charge.
Other companies focused on bitcoin remittance applications in Africa are additionally authoritative advance in the region. Last ages the African acquittal casework provider Bitpesa partnered with the bitcoin-based lending belvedere Bitbond. In adjustment to accomplish cross-border lending accessible both companies advance the bitcoin blockchain for faster, added able acquittal processing.
“This agency that a baby business buyer from Kenya can accept accommodation allotment from investors from all over the apple via Bitbond and accept the funds paid out to his adaptable money annual in 20 minutes,” explains the architect of Bitbond Radoslav Albrecht. “This is an aberrant akin of addition and accessibility in the absolute online lending space.”
Bitcoin-centric businesses are absorption in on Africa, and the South African arena as cryptocurrency absorption is growing fast.
What do you anticipate about bitcoin’s success in Africa and the South African region? Let us apperceive in the comments below.
Images via Shutterstock, Bitspark, and analysis images address of the Luno website.
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