Coinprofile has listed Dash making it possible for users to directly send Dash to local bank accounts in Nigeria at no fee.
Lagos — August 19, 2020 — Dash, the top digital currency for payments and e-commerce, announced it has partnered with Coinprofile, a Nigerian based cryptocurrency payments company, with a user-friendly platform that allows merchants and normal users to do direct crypto to fiat conversions.
Coinprofile adding Dash to its platform, gives users access to Dash features that allow transactions to take place instantly with zero fees. This will enhance the user experience when purchasing goods and services. Transactions are converted into local national currency giving the merchant the ability to continue to accept Dash payments without the risk of volatility.
Users can now convert their Dash into Naira without having to pass through exchanges. Users can also purchase goods and services online with Dash on platforms that accept bank deposits. The largest use case is remittances to Nigeria (and other regional markets) from anywhere in the world. Remittances in the continent currently face high-fees and can take several days depending on the method of transfer.
Existing fintech platforms charge an average of 15% or more. Coinprofile integrated Dash’s InstantSend feature which makes it possible for transactions to be received in a second, an obvious edge over bitcoin transactions.
Many have pointed to markets in Sub-Saharan Africa, as having many clear use cases and advantages for cryptocurrency to solve inefficiencies and lower costs around remittances and payments. However, few major cryptocurrency projects have worked on adoption there due to several reasons, including the difficulties in navigating the complexities within the continent. Dash’s DAO model enables local teams to support the network, which enables a global-local approach in market entry and growth.
“This is an amazing one for Dash, said Nathaniel Luz, Lead Dash Nigeria. “The partnership with Coinprofile provides Dash users with the ability to live 100% with a ready-to-go scaleable ecosystem to expand our presence in Nigeria and soon after, the rest of Sub-Saharan Africa. Coinprofile is providing its users with the best possible Dash experience, using InstantSend to quickly complete purchases. Their solution makes it easy for merchants to accept Dash while reserving the option to receive fiat.”
We added Dash because of the speed and 0 transaction fees. These two features of Dash are essential to why we started Coinprofile – To remove high remittance fees and make transactions lighting fast. So adding Dash was a no brainer for us. With Dash, we are scaling our platform to thousands of Dash users around the world, who can now send money back home and receive payments with a fast, and easy to use UX. UX that’s hard to find in the crypto space.
Said Bashir Aminu, founder of Coinprofile as to their reasons for adding Dash.
Dash is digital cash designed to offer financial freedom to everyone. Dash allows millions of individuals across the globe to carry out instantly re-spendable and secure transactions, with near-zero fees. Built to support real-life use cases, Dash is the leading decentralized payment
solution: it is accepted at merchants globally, 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. The Dash Network’s development is supported by Dash Core Group, the largest organization funded by the Dash Treasury, which supports and nurtures the continued worldwide development and integration of Dash. For more information, visit https://www.dash.org/ or follow the organization on Twitter @DashPay.
Coinprofile is a platform primarily built to improve the user experience in cryptocurrency to fiat transactions. Normally, cryptocurrency users have to deposit their cryptocurrency in an exchange wallet, sell for fiat and withdraw to their local bank accounts. With Coinprofile users send their cryptocurrency to an address and the equivalent is sent to their preferred bank accounts. For more information, visit https://www.coinprofile.co or follow on Twitter @Coinprofiledev.