Nigeria’s SafeSenda has launched an application that makes it easier to manage, exchange, convert, spend, and settle cryptocurrencies into Naira bank accounts.
The SafeSenda software, which Nkechi Iyke-Ukaegbu and Ikechukwu Ukaegbu created earlier this year, has an intuitive design to make maintaining and transferring crypto assets easier.
According to Ukaegbu, the lack of a secure and convenient method for converting digital assets into local currency and settling payments to Nigerian bank accounts served as the impetus for the firm.
With Safesenda, users can easily convert cryptocurrency into Naira and deposit the money into their bank account.
It is a simple, quick, easy-to-use, and secure solution to manage your cryptocurrency assets as well as rapidly swap bitcoin to naira or money. Send Crypto, Receive Alert, or Safesenda provides instant delivery to users’ bank accounts.
By referring to relatives and friends, users can generate passive and recurring income from their network and profit each time they use Safesenda.
Safesenda provides Escrow level Certainty of settlement/transactions, in a Safe and Compliant manner, and is supported by a Smart Contract.
According to Ukaegbu, the majority of transactions in Nigeria’s expanding crypto trading and exchange business are carried out through P2P networks because of the unfriendly regulatory environment there.
P2P is time-consuming, requires expertise, and can take up to 72 hours to finish. He also mentioned the complex procedures and significant risk concerns.
Nevertheless, the startup asserts that it streamlines the procedure and enables users to transmit cryptocurrency to their bank accounts in a matter of minutes.
Although SafeSenda is currently bootstrapped, its MVP is functional on Android and iOS, and the company plans to raise equity capital to expand domestically and internationally, boost its liquidity pool, and ramp up marketing activities.
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