Cryptocurrencies are the latest craze sweeping the world, and everyone is trying to get a piece of the action. Some of the most popular people in the (western) world have used their money, celebrity, and immense social media followings to invest in or endorse cryptocurrency-based businesses and services. 3 months ago, Timi Ajiboye launched Bitkoin Africa to be a community of Bitcoin sellers and buyers in Nigeria.
But since then, more variants and types of cryptocurrency have risen in popularity, beyond just Bitcoin. Cryptocurrencies like Ethereum and Litecoin have gradually risen in popularity, some of them seeing more than 10,000% increase within one year. Together, Bitcoin, Ethereum and Litecoin have a combined market capitalisation of over $200 billion - the GDPs of some small countries.
Timi's Bitkoin Africa has launched BuyCoins, a multi-currency platform, to allow Nigerians buy and sell cryptocurrency in less than a minute. BuyCoins supports Litecoin, Ethereum and Bitcoin Cash, in addition to Bitcoin. Currently, to exchange currencies, Nigerians have to buy Bitcoin, then transfer to a foreign exchange, before being able to buy Litecoin or Ethereum.
With BuyCoins, exchange is instant, and pretty seamless. The platform is still in beta mode, and is only accessible via a unique waitlist, for now. To move up on the waitlist and get access, a user needs to sign up to the list and refer as many people as possible.