Chipper Cash, the African cross-border payments app, has finally added the ability to buy and sell bitcoin across Africa on its app.
You will now be able to buy and sell bitcoin in 3 seconds directly using your Chipper balance.
According to Chipper Cash, the new service will now allow anyone with a Chipper Cash account to buy bitcoin using any of the following currencies:
- Nigerian Naira (NairaNG) – From as low as 380 NairaNG
- South African Rand (RandZA) – From as low as 16 RandZA
- Ugandan Shillings (UGXUG) – From as low as 3, 500 UGXUG
To use the new service:
- Download / update your Chipper Cash mobile app
- Tap on the ‘Invest’ icon at the bottom of the homepage
- After accepting the ‘disclaimer,’ tap either ‘Buy’ or ‘Sell’ on the next page
- Enter the amount you wish to purchase or sell in your local currency
- Confirm the details and finsh by clicking either ‘Buy Now’ or ‘Sell Now’
Similar to PayPal, here are some features of the Chipper Wallet:
- Chipper Wallet can only hold digital currency assets purchased using Chipper
- You can only sell assets from the wallet
- You can neither send nor receive digital currency assets outside of Chipper Cash
Below are some stats about Chipper Cash:
- Over 3 million users
- Over $100 million monthly transaction volumes
- Offers free local money transfers
- Available in 7 African countries
Chipper Cash is available in the following African countries:
- South Africa
Chipper Cash is also one of the most popular payment methods for crypto P2P platforms in Africa. Some of the more popular P2P exchanges that use Chipper Cash as a payment method include:
This move by Chipper Cash now means that traders have more options to buy and sell bitcoin in the above countries which may result in chipping away of huge crypto volumes on these P2P platforms.
The startup recently raised $13.8 million to expand its operations in Africa and boost its Anti-Money Laundering (AML) features and ensure compliance as it expands across the continent.