You can now buy and sell anything with Bitcoin or Safcoin cryptocurrencies across Africa, thanks to a new platform launched in South Africa.
Dubbed Crypto Valley, the new solution was developed and launched by the founders of SAFCOIN as a multi-seller platform where thousands of small to medium-sized African businesses can now trade.
Want to buy a car or property across the continent? Crypto Valley will enable that, as well as free listing and online selling of crypto globally.
“We are proud to introduce yet another use-case for Bitcoin holders. Cryptovalley.Africa taps into many ways in which crypto positively impacts Africa,” Neil Ferreira, chief executive of the firm told Afcacia.
“Combining crypto and e-commerce is a very powerful duo, a solution to so many problems in the digital payment environment across Africa.”
With the African Continental Free Trade Agreement, (AfCFTA) which came into effect in January 2021, crypto stands to further enhance the rapid growth in the African e-commerce sector.
More shoppers are now able to support local African sellers in neighbouring African countries with cross-border payments being secure and instant by means of the Safcoin mobile wallet.
“People need to be able to spend their crypto rather than just trading it on exchanges. A large portion of crypto-owners struggle with the concept of trading, and prefer to hold digital value which can be easily accessed for payment anytime the need should arise,” Ferreira added.
Bitcoin was intended to be a form of currency rather than being traded similarly to the stock exchange.
Ferreira says that it is the reason why Cryptovalley.Africa has been introduced – to enhance Bitcoin’s original founding cause.
“We believe cryptocurrency will go mainstream in Africa, and e-commerce is pivotal to this movement.”
Although the crypto market can be volatile, many enjoy the rate of growth cryptos have produced, especially over the last few months.
If a seller had been selling for Bitcoin on Cryptovalley.Africa beginning December 2020, their earnings would have grown over 200% by January 2021.
This could prove a vital solution for Africans dealing with depreciation of their local currency, because “iIf a dollar can go far in Africa, imagine what some Bitcoin can do!”
For the seller who prefers less risk or volatility, the crypto funds earned on CryptoValley.Africa can be converted instantly from crypto to FIAT (cash) in local currency using the SAFCOIN mobile wallet.
FIAT Cashout in local currency is available in Nigeria, South Africa and Uganda and will be available in 33 African countries by the end of 2021.
Although some are still sceptical about the anonymity of cryptos and the continuous rise of digital fraud, the Safcoin platforms undergo a series of security measures to protect its users and harness the positives of crypto payments.
- Strict KYC (Know Your Customer) processes are followed and CryptoValley sellers are hand-picked when listing, undergoing strict review processes.
- Bitcoin withdrawals via the SAFCOIN mobile wallet cannot be performed if a user’s Identity has not been verified and approved.
- A powerful review system is in place to trace the service delivery of sellers.
Recently Cryptovalley partnered with SA Motor Corporation who is now the first to sell cars for Bitcoin in South Africa.
“We have been working with various retailers and brands in South Africa. We are impassioned about our partners whose product ranges will include jewellery, gaming and accessories, fashion, electronics, food, home decor, crafts and even livestock in rural communities. This is an exciting time for the industry, and we are extremely proud to be part of this revolution,” says Ferreira.
Sellers can list their products free of charge and only pay a percentage fee on successful sales.
If you would like to start selling on Cryptovalley or go shopping, you can contact the CryptoValley.Africa team who are on hand to help you get started. They will assist with a shop setup for free and help you get your wallet account verified.
The founders of the SAFCOIN ecosystem come with more than 40 years combined experience in e-commerce. Back in 2017 the SAFCOIN blockchain and crypto was born and grew from strength to strength developing use-cases around the ecosystem including:
- The SAFPay crypto payment gateway; which integrates with ecommerce platforms, and in real-time transact using the SAFCOIN mobile wallet;
- MobiJobs.Africa – Africa’s very own freelance marketplace: to work part-time and receive crypto payment for work completed.