We Traded Over $141 Million in 2020 – 5x More than 2019 – Says BuyCoins Africa CEO

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BuyCoins Africa, a leading hybrid crypto exchange in Nigeria, processed over $141 million in 2020, according to the BuyCoins Africa CEO, Timi Ajiboye.

This is a huge leap from 2019 when BuyCoins Africa processed about $28 million.

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

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Here is a breakdown of the BuyCoins Africa transactions in 2020:

  • A total of $141,395,605.75 of cryptocurrency processed across all BuyCoins AFrica products (Instant, P2P etc)
  • A total $28 million was processed in 2019 (by comparison)
  • A total of 16,768 Actual Trading Users used the platform in 2020 – These are unique users that actually participated in a trade (either directly or indirectly) in 2020. This number doesn’t include any user that might have participated in other activity (deposit, withdraw, coinlock etc) but didn’t end up buying or selling
  • The Actual Trading Users number is ~12 times more than it was in 2019 (1400)
  • More than doubled the size of the team, bringing up the headcount from 10 to 22 in 2020

BuyCoins Africa launched two key products that fulfil the need of different kinds of traders (retail, institutional, pro traders) and provide experiences that abstract the complexity of crypto from the end user in order to facilitate widespread adoption.

These simple, fast, no-sign-up-necessary experiences products are:

  • SendCash – Lets anybody, anywhere in the world, send money to Nigeria & Ghana using Bitcoin [or USDC]. With Sendcash, recipients don’t need to interface with cryptocurrency at all. Launched in April 2020, $6,682,529.78 have been sent to 3,026 recipient bank accounts so far
  • GetCards – The simplest way to get giftcards for 3000+ international stores and digital services in Nigeria via a simple Naira bank transfer. Using getcards requires zero crypto knowledge & interaction. launched on the 18th of December (slightly over two weeks ago). So far, users have bought $11,500 (NGN 5.5m) worth of giftcards since then

Speaking about its African expansion plans, BuyCoins Africa CEO, said:

“2021 is also the year of continued expansion across the continent [and maybe even beyond].

As always for us — it’s Day 1!”

    – CEO, BuyCoins Africa

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RECOMMENDED READING: Nigerian Exchange, BuyCoins Africa, Partners with Paxful to Bring Naira Stablecoin onto the P2P Platform

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