Bundle Africa Exchange is a cryptocurrency platform created for the buying and selling of cryptos using different currencies in Africa. The platform does its transactions through social payment applications, from where sending and exchange of money or crypto assets are carried out. The Bundle exchange employs quick and easy transactions, as the transactions are easily done on mobile devices.
Bundle Africa is a bespoke online marketplace made for African countries to be used by the many African populations who are users of the blockchain technology market. However, owing to its origin, it currently accepts the Nigerian Naira as the only currency for trading. The social payment app can be used to transfer digital money to people without charges, by using only their phone numbers.
History of Bundle Exchange
Bundle exchange is a brainchild of a former Director who worked in Binance. Yele Bademosi, through the support of Binance, created the platform in 2020 and customized it for the African digital Market. He has the goal of incorporating more than 30 African countries on the platform to create an open digital venue for the blockchain ecosystem in the continent.
Benefits of Bundle Africa
The exchange offers numerous boons that cannot be easily overlooked by many users and prospective users. These have caused many in Africa to go for this option in the decentralized cryptocurrency trading market. Below are some benefits of Bundle exchange.
- Easy Usability
Bundle delivers easy usability through its flexible interface and services. It is one of the fastest and easiest exchanges that ensures the exchange of cryptos in naira, which can be received directly through the local bank account.
The Bundle app delivers security throughout the layers of its functionality. Before you can use the app, you are required to register using your phone number, email address, and a secured password. The app also needs your data and bank verification number to enable the upgrade to a higher KYC. This is necessary before any transaction is to begin.
- Zero Transaction Charges
This is a major strength of Bundle which continues to appeal to users in Africa. Bundle exchange requires no transaction charges for its exchange and transactions. You can send or receive digital money or naira on the platform without incurring any charges.
- Multiple Payment Methods
The Bundle uses multiple payment methods for its transactions. Mobile money, bank transfers, debit and credit card services are used; thereby, ensuring seamless exchange and transactions.
- Inclusive Service Delivery
One of the visions of creating the Bundle is to serve the growing African population of cryptocurrency users, and Bundle delivers an inclusive service to this teeming population. It covers the African need for the availability of digital assets and breaks down the digital wall between African and other developed countries in terms of blockchain technology.
How Does Bundle Work?
The social payment app adopts an easy means of decentralized trading with its simple mobile app. The app has been made available to many in Africa through its massive downloads from Google Playstore and iOS Appstore. It is important to understand the functionality of the social payment app.
- App Registration
The first access to the exchange is by registering on the app. This is done by inputting your phone number, and later your email address and your password. Upgrading on the app also requires personal information and your bank verification number
- Referral program
The referral program initiated by the exchange attracts many users, who earn by referring others to use the platform. Rewards are earned by referring 5 to 50 persons, depending on the level of the referrer. These rewards range from data package and mobile top-up to movie tickets and monetary benefits. Again, the two parties are allowed to earn in the program after saving about $12 in the wallet for 1 month.
- Bundle Digital Wallet
The Bundle provides a smooth connection between fiat currencies and cryptos. After registration, a digital wallet is given which stores cryptos: Bitcoin (BTC), Binance Coin (BNB), Binance dollar (BUSD), and Ethereum (ETH). A section of the wallet is for the Nigerian naira.
- Funding Account
It is a simple process to fund your account before any trading on the social payment app. The amount to fund your account can be written after pressing the add funds option on the app. Payment can be paid after filling in the bank information.
- Bundle Africa Withdrawal
The withdrawal button on the tab of the app can be used to withdraw funds from your account. This can be done by selecting the crypto or the fiat currency to withdraw your fund. The Wallet address is used to withdraw the cryptocurrency of choice.
- Account Verification.
The Bundle has two stages of verifications: the first requires your personal information like name, identification number, and date of birth. The second upgrade requires your bank verification number. These stages of verification give you the freedom to fund and with a certain amount of money. The first allows you the clearance to fund and receive $50 per day, while the liberty to fund and withdraw one million per day is allowed on the second stage.
Bundle exchange started its referral program a few months after the platform was formed. The referral program, having many levels of referral, gave several rewards for referring a specific number of people to register on the platform. Some users reportedly lost their money to scammers who posed as vendors for the platform. Due to the incidents, Bundle was termed a scam by some people, and this singular narrative has discouraged many from using the exchange. Nevertheless, the company has not failed in upholding its business ethos in the crypto space.
How to Use Bundle Exchange
The Bundle platform can be used by first downloading the app from its website and completing the registration with your mobile number, email address, and a secured password.
Bundle Exchange—Bespoke African Digital Market
Bundle exchange has conquered Nigeria and working to prove strong by trying to welcome other African countries on its platform. But it has not been without a price. Though the platform has suffered a lot of negative public opinion, it does not affect the fact that the exchange is a legit digital exchange platform.