BITPESA REVIEW (2021) – A Guide to Africa’s Leading Remittance Platform

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BITPESA REVIEW (2021) - A Guide to Africa's Leading Remittance Platform

Bitpesa is a digital foreign exchange cryptocurrency and payment platform that allows its users to buy bitcoin and also make payments between Africa and other parts of the world. The payment platform is blockchain-based, and it is considered one of the best payment platforms for its uniqueness. 

The platform has a swift transaction time, and it is cost-efficient. With the help of blockchain technology, Bitpesa is able to offer cheap and fast payment processing and international transactions to its users.

History

The platform was founded in 2013 by Elizabeth Rossiello in Nairobi Kenya. The company has offices in Nairobi, Lagos, London, Madrid, Dakar, and Luxembourg. It aims to become the largest licensed payment company in the UK, Africa, and Europe. 

At first, Bitpesa was only made to allow individuals to send bitcoin at a fixed rate, but later expanded to business-to-business (B2B) payment due to the high amount of requests from businesses and traders. Bitpesa was the first blockchain company to be licensed by the UK’s Financial Conduct Authority.

Headlines

In 2015, Bitpesa got funding of $1.1 million through a round led by Pantera capital and got another $2.5 million in 2017, this time through a funding round that Draper Venture Capital led.

Features And Services Of Bitpesa

  • Payment gateway

This feature allows users to send and receive money in and out of Africa by converting the local currency into US dollars and then passing through banks and converting to the currency of the country receiving the money.

  • Trading

The platform allows users to make trades online, which can be completed within a few minutes due to the high transaction speed of the platform.

  • Buy bitcoin

Users from countries such as Ghana, Uganda, Tunisia, Nigeria and DRC can purchase Bitcoin instantly on Bitpesa. 

  • Currencies supported

It supports the use of numerous international and local currencies to carry out transactions.

  • Payment method

Payments for completion of transactions can be made using the bank transfer or about 7 different Mobile money networks linked to over 60 banks across Nigeria, Ghana, Congo, Uganda, Tanzania, Senegal, DRC and Kenya.

  • Customer support

Bitpesa offers different ways with which the users can contact the customer support for any help or questions. They can be contacted by their email address, phone numbers (depends on the country), and through Whatsapp.

How Does Bitpesa Work?

  • Registration

You can register and create an account by visiting their website and filling the registration form with the required details then click on sign up.

  • Transaction fee

When using bitpesa to make payments to other countries, a fee of 3% of the transaction amount is charged, which is cheap compared to when using the Western Union. 

Bitpesa – A unique platform that has made transactions cheaper in africa

Bitpesa is a unique digital exchange and a unique blockchain-based payment platform that has made money transfer within Africa to other parts of the world easier and cheaper for its users. Since its launching in 2013, the company has generated lots of funds from rounds led by investors and has also proven to be a better and reliable substitute to the western union payment processing platform.

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