[PRESS RELEASE: LAGOS – December 03, 2020]
The Dash cryptocurrency can be used to send money from one place to another, just like Bitcoin. Dash transactions however are faster (2 seconds), cheaper (near-zero fees), and allow optional privacy.
According to Uzo Awili, Chief Technology Officer (CTO) at Quidax:
“In the last few months, we have seen an increasing number of businesses and individuals use cryptocurrencies to send and receive money from around the world faster and cheaper than ever before. A number of these businesses and individuals used cryptocurrency for the first time this year and continued using it after that.
Naturally, adding another cryptocurrency that helps our customers perform their transactions faster and with almost zero transaction fees was a no-brainer”
~ Uzo Awili, CTO, Quidax
According to a 2020 research by Chainalysis, Nigeria is ranked 8 out of 154 countries when it comes to cryptocurrency activity globally.
Referring to this development, Nathaniel Luz, the Lead for Dash Nigeria, said:
“In the face of Foreign Exchange (FX) shortage in Nigeria, more and more people are turning to cryptocurrencies like Dash as a way to pay their suppliers and partners in other countries, as well as receive remittance.
So, it’s no surprise that Nigeria ranks 8th in the world.”
~ Nathaniel Luz, Dash Nigeria Lead
Nigeria is currently experiencing an FX shortage. If it continues, it will become harder for businesses who rely on FX for raw material importation to keep their doors open for business, and for these businesses, cryptocurrencies like Dash are becoming an attractive alternative.
With Dash now on Quidax, anyone in Nigeria can buy Dash using their Debit card or via Bank transfer and send it to anyone in any part of the world.
Quidax also integrated Dash’s InstantSend feature which makes it possible for transactions to be received in a second, an obvious edge over other cryptocurrencies.
Quidax, which was one of 10 startups that participated in the Techstars Toronto program in 2020, makes it possible for people to sell their Dash and get instant Naira credit into their bank account.
Quidax is an African-focused cryptocurrency exchange that makes it easy for you to buy/sell Dash, Bitcoin, USDT and other cryptocurrencies. Quidax also enables Fintech companies to offer cryptocurrency services to their customers via its cryptocurrency API.
Dash is the leading decentralized payment solution accepted at merchant outlets globally. It is accessible via 1,600+ ATMs and 100+ exchanges worldwide. Dash has pioneered groundbreaking features including a two-tier network with incentivized nodes and decentralized project governance (Masternodes), instantly settled payments (InstantSend), instantly immutable blockchain (ChainLocks) and more.
For more information, visit https://www.dash.org/ and Twitter: @DashPay
RECOMMENDED READING: How the Dash Cryptocurrency is Being Used in Africa – Q&A with Dash Nigeria Lead
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