5 exciting ways to use cryptocurrency in Africa + recommended platforms

1) Social payments

Social payment platforms allow you to use your crypto to pay different bills and purchase airtime, among other things.

  • Blueloop’s Flux for airtime

  • Patricia for airtime and other bills.

2) Cash withdrawals and payments

These platforms help you easily convert your cryptocurrencies to cash either directly through a dedicated debit card or via transfer from your wallet to your bank:

  • First Kudi debit card

  • Patricia Bitcoin Debit Card

  • BuyCoins (Sendcash)

3) Virtual dollar cards

Blueloop’s Flux provides a virtual dollar card feature used to make purchases from foreign merchants; the combination of fiat and crypto on the flux platform makes this a seamless experience.

4) Remittances and cross-border payments

Seamlessly send money within Africa and globally. Some of these platforms leverage stable coins (fiat money represented on a blockchain):

  • The KBX Wallet, BTCGhana and Blueloop’s Flux.

  • You can send crypto directly with exchanges like Luno, Quidax, Busha, Bundle, BuyCoins, and Binance, to mention a few.

5) Stable coins and reducing fluctuation

Stable coins are crypto-based currencies whose value is tied to real-world currency.

  • BuyCoins: launched the NGNT, a stable coin version of the naira

  • KuBitX: created the NGNX, another naira-based stable coin.

Did we miss any? Let us know in the replies

Read the full article for more insight here: https://bit.ly/3ahJBRV

If you enjoyed this, subscribe to Techpoint Africa newsletter to stay smart about startups and tech developments across Africa: https://bit.ly/3ceHa58

Want to learn more about cryptocurrency from industry leaders? Get your ticket to our maiden Digital Currency Summit holding on March 25 → currency.techpoint.africa