The Nigerian blockchain and cryptocurrency community have been provided with another novel opportunity to derive value from the digital assets market. This opportunity has come in the form of “KoinKoin”, a hybrid cryptocurrency exchange. KoinKoin allows users to participate in both peer to peer cryptocurrency trading services, as well as direct fiat to cryptocurrency exchange.
KoinKoin is headquartered in London, but on Thursday, June 04 2020 announced that it has commenced full operations in Nigeria. This comes after an almost one year long beta testing experience and UAT. According to the announcement, crypto users in Nigeria can now enjoy full functionality on the platform in ways that suit their desires.
KoinKoin’s digital asset exchange services are immediately available and users can readily make deposits and withdrawals with their Naira based credit and debit cards in purchase of BitCoin, Ethereum and LiteCoin. KoinKoin’s digital asset exchange offers peer to peer exchange services as well as a direct fiat to cryptocurrency exchange.
A Decentralized Social Commerce Marketplace
Apart from offering exchange services for cryptocurrency users, KoinKoin has also delivered the first marketplace application underpinned by Ethereum. This is a Social Commerce platform that is available to users on both Android and iOS. As a wholesaler or retailer, the KoinKoin Social Commerce platform gives you the opportunity to sell your products directly to your personal or social media network.
Based on the Ethereum network, transactions on the KoinKoin Social Commerce platform are decentralized. It allows users across the various regions of Africa to trade among themselves without the limitations of foreign exchange. At the same time, such transactions help users to protect their privacy and promote the confidentiality of doing business.
Founder and CEO of KoinKoin, Ola Atose expresses his excitement at the launch of this product. He says;
“I am truly excited about this launch and I deeply appreciate the KoinKoin team for all their hard work over the past months”.
Atose and team are already looking ahead to delivering digital exchange services across Ghana, South Africa, Kenya, Tanzania and Uganda later on this year.