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Paxful Looking at Cryptocurrency’s Potential in East Africa

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Cryptocurrency's potential in East Africa

NAIROBI, Kenya, October 8, 2018/ — The need for investing in cryptocurrency is steadily rising in East Africa; specifically, Kenya as more and more people are gradually gaining trust/confidence in the use of cryptocurrency. Though cryptocurrency is relatively new and comes with a learning curve, the benefits are a plethora; thus it is good for both sellers and buyers. Cryptocurrency offers a massive wealth distribution globally as well and presents financial freedom to individuals.

In 2016, Citibank analysts estimated that Kenya’s bitcoin holdings were about 2.3 percent of the gross domestic product (GDP), making it among countries with the largest bitcoin holdings. This has created demand of peer-to-peer cryptocurrency marketplaces in the East African market because more people are primed for the cryptocurrency market.

PaxfulIn just 3 years, Paxful has become one of the world’s leading peer-to-peer cryptocurrency marketplaces built on open source bitcoin and blockchain technology. Boasting $15M in bitcoin global transactions per week, the rapidly expanding platform has solidified an enviable reputation for security and efficiency. Their entrance into the East African market comes at a time where Kenya’s M-PESA system, a mobile phone-based money transfer, and micro-financing service recently announced a bitcoin device, with one in three Kenyans now owning a bitcoin wallet  thus making it more convenient for Kenyans looking into buying and selling bitcoin on peer to peer cryptocurrency marketplaces.

Paxful has helped to connect buyers and sellers to easily exchange bitcoin, accepting more than 300 different payment methods (for example, bank transfers, cash deposit, debit or credit cards, etc). As for businesses, Paxful provides a quick and easy way for online shoppers to pay using bitcoin with no buyer fee and 1 percent seller fee, no deposit fee, no withdrawal fee, ease of use & speedy transfer deliveries.

Paxful has also just completed a project in Rwanda called #BuiltWithBitcoin charitable initiative: the project is a construction of a school in Rwanda for students aged 6-15. It is Located in the Nyamata Sector of Rwanda’s Bugesera District, the school supplement’s Paxful’s first bitcoin-funded school, which launched in the same district earlier this year and serves children aged 3-6. “The #BuiltWithBitcoin initiative is a testament to the power of cryptocurrency,” said Ray Youssef, CEO of Paxful.

“We firmly believe that it can improve lives and make the world a better place.” Paxful began the #BuiltwithBitcoin initiative in 2017 to promote philanthropy and charity within the cryptocurrency industry.

Since cryptocurrencies are so new, they are also very volatile. This is one of the main reasons mass adoption is taking longer than it should but the future appeal of cryptocurrencies lies in allowing you ultimate control over your money, with fast secure global transactions, and lower transaction fees when compared to all existing currencies. When used properly and fully understood it would be the initiator of many emerging systems that will fundamentally change the African economic system.

*Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.*

Press Releases

Quidax Partners with Julswap to Launch BEP20 Token

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Quidax x Julswap

Cryptocurrency exchange Quidax on Monday, 10th May officially announced a partnership with JulSwap. JulSwap is one of the biggest decentralized exchanges (DEX) on the Binance Smart Chain Ecosystem.

They also revealed that the highly awaited QDX token will go live on JulSwap’s launchpad JulPad on May 17, 2021.

JulSwap will be involved in the listing, offering technical and personnel resources to the Quidax team during the token sale period.

According to Quidax, the choice to partner with JulSwap is because they are one of the most popular DeFi platforms, and our drive to bring the best of CeFi and DeFi makes Julswap a natural and perfect place.

A Major Milestone for Quidax

Quidax

Quidax recently revealed that the exchange was transitioning from an African focused towards a global strategy. The launch of QDX token is the first step towards Quidax repositioning as the global home of BEP tokens.

QDX token is the utility token of Quidax and will power future developments. Quidax customers will also be rewarded with QDX for taking part in activities. 

Speaking on the upcoming token launch, Quidax CEO Buchi Okoro expressed his delight. ‘’At the heart of our innovation, we are happy to announce the launch of QDX – our ecosystem token on JuldPad. It will be live on the 17th of May,’’ He also added that QDX will power the functions within the Quidax ecosystem. 

About JulSwap

JulSwap is a community-centric Decentralized Exchange that helps crypto projects raise liquidity by conducting IDOs, organizing Staking Pools, and conducting liquidity mining in a decentralized fashion through the innovative power of JULD tokens.

Website: https://info.julswap.com

Twitter: https://twitter.com/JulSwap

Telegram: https://t.me/justliquidity

About Quidax

Quidax aims to be the home of BEP20, giving anyone access to tokens on the Binance Smart Chain (BSC), as well as popular cryptocurrencies. Apart from instant exchange services, Quidax enables OTC trading and gives fintech companies the tools to offer cryptocurrency services to their customers through a dedicated API. Quidax was officially launched in 2018 and currently has over 400,000 customers in more than 70 countries.

Quidax Token: Quidax.com/QDX

QDX Token Community (Telegram): https://t.me/QDXToken

Facebook: https://facebook.com/QuidaxGlobal

Twitter: https://twitter.com/QuidaxGlobal

Instagram: https://www.instagram.com/quidaxglobal/

Quidax Global Community (Telegram):  https://t.me/QuidaxGlobal  

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Press Releases

Africa’s First Government-backed NFT Initiative, AFEN Partners with Quidax

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AFEN Partners with Quidax

Lagos, May 3, 2021 — Africa’s first government-backed NFT initiative, AFEN on Friday announced a partnership with cryptocurrency exchange, Quidax.

AFEN, which aims to be a leading hub for African Blockchain, stated the partnership is strategic and would enable it to list the $Afen token on Quidax the home of BEP20 tokens.

According to a spokesperson at AFEN the partnership with Quidax lends credence to what they have been working on for a long time.

QuidaxIn a statement from Quidax, they mentioned the huge prospects of the NFT platform, which they believe will revolutionise opportunities in Africa. Quidax also stated they will continue to back credible cryptocurrency projects which will result in real-world usage.

As a result of the partnership, customers of Quidax will be able to buy the $Afen token as soon as it is listed. The listing date for $afen on Quidax and trading pairs are yet to be announced. Although, $Afen can be bought and traded on Julswap. As well as on Bitmart from May 1st, 2021.

The growing interest in NFTs has enabled AFEN to gain traction, attracting the attention of both established companies and startups. The project, which is the first government-backed NFT project in Africa, aims at revolutionising opportunities in Africa through blockchain technology is focused on three sectors; art, real estate, and education.

AFEN will have the exclusive right to mint legacy African arts upon the launch of its NFT marketplace, adding value to Africa’s art. The $Afen token will be used for transactions on its NFT marketplace. AFEN is also expected to release a new roadmap that will include the development stages of its NFT platform as well as extensive tokenomics. More details about the $Afen token is available on the AFEN whitepaper and on the AFEN community on telegram

About AFEN

AFEN is a leading hub for African Blockchain with a focus on Decentralised Finance, Arts, Real Estate and Education on the Binance Smart Chain. AFEN has the objective of combining blockchain’s immutable data structure and the backing of government bodies to provide legitimacy to products.

About Quidax

Quidax is the home of BEP20 tokens that gives anyone access to tokens on the Binance Smart Chain (BSC) and popular cryptocurrencies. It also enables Fintech companies to offer cryptocurrency services to their customers. Quidax was officially launched in 2018 and currently has customers in over 70 countries.

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Press Releases

CryptoLocally Acquires Finance Bridge Trading Academy

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Finance Bridge Trading Academy

The world’s first truly decentralised P2P trading platform, CryptoLocally, has recently revealed its acquisition of Finance Bridge Academy, Africa’s fastest-growing online trading school. With this acquisition, CryptoLocally is looking to launch the CryptoLocally African Academy free online training courses specialised for users in Africa. Their main goal is to achieve financial inclusion by allowing their users to learn more about cryptocurrencies and crypto trading.

CryptoLocally is one of the leading P2P trading platforms in the industry. They support many of the popular cryptocurrencies in the market as well as many high-performance blockchains in the industry. In fact, they support over 50 coins. They are the first true decentralized P2P exchange powered by their native GIV tokens and the first to integrate DeFi functionality into their ecosystem with its Finance Wallet.

Finance Bridge Academy is a strategic trading and investment education company with over six years of experience trading in the financial markets. It has been providing paid trading courses for Africans, mostly in Nigeria and Ghana, educating them on how to get more out of trading this new asset class. Now integrated into CryptoLocally’s ecosystem, these paid online courses are available for free for all registered users on their P2P platform. 

The launch of the CryptoLocally African Academy highlights its continuous effort for cryptocurrency’s mass adoption and to promote free cryptocurrency literacy in Africa. This acquisition opens the door to more courses in the future for other African jurisdictions and other regions globally, especially in Asia. It is the first step to a larger international crypto academy.

CryptoLocally is starting its education program with a focus on Africa because traditional financial institutions have failed to provide financial services to the masses. Their antiquated and often unfair banking practices are designed to protect the interest of the privileged few.

“Africa is home to millions of tech-savvy youth who are very eager and receptive to technological innovations, especially for innovations that may give them the opportunity to achieve financial freedom and stability,” says Hugo Campanella, co-founder of CryptoLocally. “Needing and eager to learn, they are the perfect demographic to introduce this burgeoning asset class that will revolutionize financial services in the near future and step towards a more equitable financial system in the region.” Hugo Campanella added.

CryptoLocallyCryptoLocally’s acquisition is expected to bolster the impressive crypto flow involved in Africa. In the last five years, Nigeria traded $566 million worth of Bitcoin which is the second-largest volume in the world. Nigeria’s Bitcoin trade traffic increased at least 19% annually since 2017. As for Africa as a whole, the monthly crypto transfers to and from Africa under $10,000 increased by 55% the past year (Edward-Ekpu). This gives evidence that cryptocurrency is being increasingly relied on as a financial asset, and potentially, a store of value (DW).

Previously, CryptoLocally announced their first incubation project with GemsLab, a game studio based in Africa, Ghana. The game studio specializes in developing simple, exciting, and easy-to-learn blockchain-based games with the purpose of introducing crypto and blockchain to the masses via its games. 

CryptoLocally is strengthening its position in Africa which has been identified by many pundits and industry leaders as one of the regions that will benefit most from revolutionary technologies like crypto and blockchain. It also represents one of the highest potential growth for cryptocurrency usage in light of its ongoing digital revolution and less than Ideal traditional financial landscape.

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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