Nigeria’s Bitstake Wants to be Africa’ Biggest Bitcoin Remittance Service

Bitcoin is a digital currency

spending-bitcoinsYou’ve probably heard of BitPesa, a UK to Kenya Bitcoin-to-M-PESA remittance service disrupting old-school money remittance services such as Western Union and Money Gram, now Nigeria’s Bitstake has just launched to do just that.

Calling itselt the new era of digital finance, Bitstake wants to simplify the way people receive and send money instantly and with low fees-at just 1% rate. Bitstake allows users to buy Bitcoin from then send to family members and business partners in Nigeria.

Users can also apply for loans at Bitstake using its peer to peer lending system. Users can also access their funds and earn interest daily from their mobile phones whether online or offline as the system supports both SMS fund transfer and online transfers.

“Interest can be earned in a number of hours instead of weeks and depending what digital currency you use interest can be 1%-10%+ however this is dependant on the digital currency you wish to use,” says the firm. “Buy and sell Bitcoin and other digital currencies to and from Naria with our easy to use exchange environment or just send money to friends and family across the world instantly with lowest fee rates in Africa.”

According to  Bitsake co-founder David Ajayi: “Nigerians and Africans in general have been cut off from the advanced financial technology. With Bitcoin, we have a chance to connect with a global network of decentralized payment system with instant deposit to anyone across the world.”