Digital currencies have continued to be popular in 2018. With many ‘altcoins’ as they are popularly called launching for several services and integrating with current financial systems, cryptocurrency is here to stay. Altcoins like Ethereum and Litecoin have been successful at fixing some of Bitcoin’s underlying problems and have become scalable and trustworthy as a medium to transfer money.
There’s another reason cryptocurrency is popular. The price of some cryptocurrencies has seen a more than 10,000% increase in just one year. For those who bought at the right time, it is a massive investment gain that no other investment medium can replicate. Bitcoin, Ethereum, and Litecoin have a combined market capitalisation of over $200 billion – larger than some of the world’s biggest companies.
Bitkoin Africa has launched BuyCoins – a new platform that makes it even easier to buy and sell cryptocurrency in Nigeria. Coming off the success of Bitkoin, they have expanded to a simpler app and will support multiple cryptocurrency. Currently, the platform supports Litecoin, Ethereum, Bitcoin Cash and Bitcoin trades but will support more altcoins in the future.
Solving the problem with Buying Bitcoin Cash, Litecoin and Ethererum in Nigeria
At the moment, many Nigerians interested in cryptocurrency have to buy Bitcoin, transfer it to a foreign exchange, before they can purchase altcoins such as Ethereum and Litecoin. BuyCoins will support all those transactions under one platform.
It also takes the hassle out of exchange pricing for crypto newbies and facilitates instant buying and selling. Crypto traders on exchanges typically have to set a price to sell and hope that another buyer will purchase at that price. Like every good cryptocurrency trader knows, the secret is to buy and sell at the right time.
BuyCoins is in Beta
BuyCoins is currently in Beta and is only accessible via a unique waitlist. To move up the waitlist, users have to sign up on the site and invite as many people as possible. We have however been provided with screenshots of how the service will look upon public launch. It looks really good and just like Bitkoin Africa, we expect the exchange to be stellar.
In a statement, Bitkoin Africa said “Like we promised last year, we are expanding to support other cryptocurrencies. We studied the Nigerian cryptocurrency market and decided to support Litecoin and Ethereum first. We’re launching BuyCoins in Beta and will open it to the public soon”