ZoneBitcoin EditorialHere's how to send bitcoin to Africa the easy way. You think about it, right? Are you tired of sending euros that will be converted into CFA francs with a lot of commission?
You know what? You are right!
Regarding the transfer of money, it has long been a headache for Africans and the diaspora. There were no other alternatives than Western Union just 3 years ago. You then had to go to an agency, deposit cash in euros and dollars and ask the recipient to also come to an agency. The procedure was long and expensive. Now, and this is the huge advantage of cryptocurrencies, there are no more borders, there are no more royal currencies, no more paperwork, no waiting and fewer fees.
As you know, Africans are also starting to mine not only gold but also bitcoin. The advantage of Africa is that it is leader in mobile banking, far ahead of other continents. It is said that 20% of Africans have an online bank account while it is only 7% in Europe.
Mobile banking with cryptocurrency, it's just one step...just one click. In fact, there are multiple opportunities to transfer bitcoins and money quickly in Africa.
Here are the 7 startups working on bitcoin money transfer in Africa
Bitcoin in Africa is gaining momentum and there are more and more companies based in Africa that offer bitcoin-related services. (Read our article on the state of play of bitcoin companies in Africa) Better yet, there are more and more startups working on money transfer. We had seen the startups on the continent which launched African cryptocurrencies. We also saw how cryptocurrencies can promote the development from the continent. Here, in this article, we are more interested in structures and companies that want to facilitate the transfer of money.
Nebeus bank : Africa's crypto bank that allows you to send bitcoins to Africans.
For the moment Nebeus bank only operates in Nigeria, Ghana, Rwanda and South Africa. We are still awaiting implementation in French-speaking countries.
Yes, we have already spoken to you about Nebeus bank and how it could promote development in Africa. Yes, this is a theme that matters a lot to us on Zonebitcoin.co, you understand.
In short, Nebeus bank is just like an ordinary and classic bank. Except that it turns out to be much more practical and that it integrates bitcoins and other cryptocurrencies.
Thus, it is one of the rare possibilities for Africans to own cryptocurrencies in a physical crypto bank card.
The bank has implemented a cryptographic bank card, which allows Africans to use their cards anywhere in the world. Yes, anywhere in the world, since it is a mastercard. You know the advantages of having a bitcoin bank card, right? Otherwise, you can read our article on the subject here.
In fact, it allows you to have cryptocurrencies and fiat currencies. And we know how difficult it can be for Africans to own international currencies. With Nebeus, it's easy.
In addition, it is possible to borrow money through Nebeus. Which makes this bank absolutely essential in the countries where it is established.
BitPesa : the number 1 in money transfer in Africa
Headquartered in Kenya with offices in Uganda, Nigeria, Tanzania, London, Dakar and Luxembourg, BitPesa is a comprehensive digital payments platform that allows participants to send and receive money across the world.
BitPesa has also implemented BFX which is a B2B payment solution that finally allows companies around the world to do business in Africa and African companies to make payments abroad. With this easy-to-use platform, it is now possible to send regular or bulk payments to a supplier or other.
Regular payments can be made in USD, GBP or EUR and received in GHS, NGN, TZS and UGX (in local currencies).
How BitPesa works?
BitPesa converts your local currency and then converts it back to an international currency like dollars or euros.
BitPesa accepts funds from a bank account and transfers them directly to the destination account. It cuts out all the middlemen, saves on conversion fees and the money transfer is done in just a few clicks.
Working with over 60 banks across Africa and seven different mobile wallets, the platform allows users to participate in global bitcoin exchanges using local currencies, make fund transfers and make foreign exchange transactions.
It is clearly the revolutionary application in terms of money transfer. If you were still planning to use Western Union, we'll stop you right now! Use BitPesa.
In addition, by being operational in Senegal – this is still very rare in French-speaking Africa – BitPesa becomes the essential transfer tool.
Bitmari : the solution for sending money from the African diaspora to Africa
Bitmari is undoubtedly one of the most innovative bitcoin transfer startups in Africa. It's especially the startup the most political with its slogan #Decoloniseyourself. Clearly, the company wants to replace the CFA Franc, which, according to it, prevents Pan-African trade from emancipating itself and retards its growth.
Bitmari therefore seeks to popularize the use of cryptocurrencies for everyone in Africa. Likewise, she wants to push the African diaspora to send money via cryptocurrencies.
With Bitmari it is possible to open a mobile wallet to send cryptocurrencies with very low fees. Especially when compared with Western Union's astronomical fees.
Founded in 2015 in Zimbabwe, Bitmari is available in over 20 countries in Africa. The African diaspora can therefore send money in the form of cryptocurrency to the country. Likewise, the African who receives does not have to travel to receive his money.
The advantage of Bitmari is that it is also possible to finance farmers (and also women in the sector) via the application. This is very clearly the typical example of a start-up that wants to help those around it.
If you are an African national living in a European country and looking to send money to English-speaking Africa, this is clearly the app for you.
Bitspark : Money transfer without a bank account
Bitspark is a complete solution in itself. With Bitspark, you can send money and receive money without borders being an issue. Likewise, with Bitspark, it is possible to deposit cash at a point of sale and convert this sum into cryptocurrency. This makes it easier to send money using cryptocurrency.
Bitspark is aimed at both individuals and businesses. This is precisely what was needed to develop international trade in Africa.
No need to have an account on Bitspark to receive money. Simply enter the code provided by your sender.
You can deposit cash which will then be converted into cryptocurrency or other currencies to promote your exchange.
Bitspark is stunning upon closer inspection. Bitspark is available in Asia as well as Africa. Bitspark enables cost-effective, fast and secure money transfers to and from Africa.
Moreover, BitSparks also launched the ZEPH token. It is a reward token every time a transaction is made on Bitspark. So, when a user deposits or sends money with Bitspark, they earn ZEPH in return.
PayPlux : the bitcoin account for Ghanaians.
PayPlux is based in Ghana. It is a blockchain-based startup that provides fast, secure and excellent money transfers and exchanges across the world. Integrated with many banks and mobile wallets, the platform allows the purchase and sale of litecoin, bitcoin, Ether. It also allows you to purchase via PerfectMoney. Moreover, the advantage with PerfectMoney, is that you can deposit bitcoins. Then, we can exchange them into currencies and make our payments internationally.
The solution is interesting but it remains exclusive to the Ghanaian. They can therefore open an account and send or receive money. But, the company ensures future expansion to other countries.
NairaEX : get and trade bitcoins for Nigerians
NairaEX allows you to exchange your naira for bitcoins. With NairaEx, it is possible to sell your naira to obtain bitcoins only. From there, Nigerians can trade and exchange their bitcoins for other cryptocurrencies.
Generally speaking, it is a bitcoin exchange platform that allows users to buy and sell bitcoins, through safe, fast and secure exchanges. Although the processing time can last up to 4 hours, NairaEx is constantly working to make improvements in this area. NairaEx is a great opportunity for Nigerians to easily obtain cryptocurrencies.
Again, NairaEx is only open to Nigerians who own naira, the official currency. For other countries, you will still have to wait.
We can also hope that other countries imitate the model of this crypto exchange platform. We especially encourage French-speaking countries to equip themselves with such a platform to exchange their currencies for cryptos. Since the most difficult step is tobuy your first bitcoins in Africa. Once you have it, everything becomes simple.
Thus, thanks to this platform, any Nigerian can receive bitcoins and other cryptocurrencies easily and exchange them into naira. Or the opposite. Admit that you also find it great, right?
Kobocoin and Afro coin: African bitcoins to universalize money exchanges
Kobocoin was one of the first African cryptocurrencies. The founder even wanted to make Kobocoin, the African bitcoin.
A London-based startup seeking to change the way Africans spend, send and trade bitcoin. Its characteristics are similar to those of bitcoin, but they were designed for Africans.
Kobocoin enables instant, contactless, no-bank-call, no-fee bitcoin transactions on the African continent and many other regions around the world.
That said, the company can be criticized for not working enough on communication and exchange platforms. For example, kobocin was exchangeable on the CryptoPia platform which was recently hacked. This doesn't give us much confidence...
The idea of creating an African bitcoin is certainly laudable, but you still need to push your ambitions…And this is just a simple opinion. We just know that yes, a solid African cryptocurrency would be an excellent tool for Pan-African trade.
Maybe theAfro, the latest African cryptocurrency will fulfill this crazy bet. It is indeed a very promising cryptocurrency and which we think will be very useful for Africans, particularly French-speaking ones.
Conclusion for sending bitcoin to Africa
We have written this article and we are sure that it will need to be updated often. Indeed, there are more and more companies based on blockchain establishing themselves on the African continent. And that's good!
What you need to understand is that the bitcoin transfer is nothing more than a monetary transfer. Where the continent has failed for decades, this is perhaps the ultimate opportunity to fill its gaps.
We remind you that money transfer is one of the basic tools for commerce in general. The more financial exchanges are facilitated, the better international trade will be.
If we want Africa to develop, it is essential that we work on our financial and monetary tools. It seems that the ultimate solution is the use of cryptocurrencies.
We can also see that most innovations in this area and African blockchain startups in general often come from the same countries. Generally, they are based in English-speaking countries including Nigeria, Ghana, Rwanda and South Africa.
If you know of other companies that work in money transfer, in cryptocurrency or otherwise, do not hesitate to let us know via the comments below!
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