We Processed about $40 Million and Registered Over 95K Users in 2020, Says BitSika CEO

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BitSika, a leading African crypto remittance service, processed nearly $40 million in 2020, according to BitSika CEO, Atsuh Davoh.

This is a huge leap from the 2019 numbers when BitSika processed about $1 million.

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SEE ALSO: Paxful Adds BitSika, A Popular West African Cash App, as a Payment Method

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Here is a breakdown of the BitSika transactions in 2020:

  • A total of $39,953,115 processed in 2020
  • A total of $18,872,474 of the above were deposits
  • A total $974,864 was processed in 2019 (by comparison)
  • Processed a total of 268,430 individual [successful] transactions
  • Of the said successful transactions, 21,418 were internal peer-to-peer [successful] transactions
  • A total 4,832 [successful] transactions were processed in 2019 (by comparison)
  • Processed +$17,890,807 in payouts
  • Processed +$3,189,834 in internal peer to peer transfers
  • A total of 95,509 registered users with more than 95% of these users coming in 2020
  • In 2020, 16,507 individual users made at least one successful transaction
  • Over 40,000 users verified their phone numbers and almost 16,000 people verified their identity with a national ID
  • Collected $1,027,583 in fees in 2020 as compared to only $329 in fees in 2019

After a successful 2020, BitSika is looking at undertaking the following in 2021:

  • Raise Series A funding
  • Get licenses in all the markets BitSika operates
  • Start an internship program for the design and tech communities
  • Provide more features in the app to expand reach in and beyond fin-tech
  • Redesign the app and make sure it increases uptimes and fix all bugs users experience

Speaking these major milestones in 2020, BitSika CEO, said:

“If we’re able to repeat these numbers, I’ll be so happy. Just hope we’re all there to see that happen. If you’re a young developer out there, please go and build your dreams. I can’t believe we came this far so quickly. Just look where we were exactly a year ago.”

   – CEO, BitSika

BitSika remittance service currently serves the Ghana-Nigeria remittance corridor.

Davido, the African mega music superstar, recently partnered and invested in BitSika.

The service was also recently added as a payment method on Paxful, Africa’s largest P2P platform.

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RECOMMENDED READING: More than 1 Million Bitcoins Became Unavailable in the Course of 2020 with Only 4.2 Million Now in Circulation (22%)

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