Koinwa, a cryptocurrency platform has recently launched a mobile application that will aid traders to carry out transactions conveniently.
A report titled “The state of crypto in Africa” recognizes the Continent as one of the top players in cryptocurrency around the globe.
The report shows a rise in crypto adoption in Africa showing that Nigeria, Ghana, South Africa, Kenya among other countries show a great affinity for bitcoin adoption.
In light of this, the crypto market in Nigeria has undoubtedly shown great reliance with the influx of investors who embrace the trend within the shortest period under review.
However, following the CBN recent directive on cryptocurrency in Nigeria, Koinwa is not blind to the challenges and difficulty this decision trapped the Nigerian bitcoin traders in.
Furtherance to this, Koinwa has integrated a peer-2-peer platform that aids traders to buy and sell bitcoin without falling prey in the hands of rampant scammers who pose as real exchangers.
With this in place, KoinWa users can now trade bitcoin from any part of the world.
The new feature is borderless since traders around the world can sign up conveniently as bitcoin vendors, hence trading in bitcoin for local currency via bank transfers, Mobile money, direct account deposit and also cash in person payment etc.
KoinWa added peer-2-peer trading to help traders access cash wherever they travel, which could be on a business trip, vacation etc.
The platform is built with users in mind, wherein they can be their own bank with maximum security in place.
An open financial system can be a great equalizer with an aim to lift millions of Africans out of poverty which
over time bedeviled the continent’s economic prosperity.
How to use the KoinWa Mobile App
KoinWa app can be downloaded on Google Play Store, available on android and iOS operating systems alongside the web version.
Having downloaded the app, install same on your mobile device. Sign up by choosing a user name, email address and preferred password.
Having completed the required fields, you will have to log in to your preferred email to activate your account, upon which you may then login with your username and password afterward.
Following this, you may start trading bitcoin via the peer-2-peer feature available on the app.
How to trade bitcoin using the peer-2-peer feature
Login to the Koinwa app on your mobile device
Scroll down to locate the buy/sell bitcoin option, click on the option that applies to your preferred action either to buy or sell.
From the list of available sellers assuming you wish to buy, select a preferred seller to buy from.
In the next slide, select “Buy” then enter the amount you wish to buy in NGN, of which the BTC value will be displayed for you to ascertain how much Satoshi or BTC you’re getting.
Having done this click continue In the next slide, you’ll have a transaction summary of how much bitcoin you’re buying as well the Equivalent in NGN.
Click on “submit trade request”
You will be required to enter your 4-digit transaction PIN, (Note, you are expected to have set up this PIN before commencing with your transaction)
To set up the PIN
From the list of options select “Change pin code”
Insert your password then your 4-digit Pin, click ‘Save Pin” and that is it. This PIN will always be used for your authorization.
Having authorized the transaction, check your mail for the seller’s payment details, once payment completed, your wallet will be credited with BTC value.
Featured Image: KoinWa team members
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