Inquest into Bitpesa: Is it easy to place a trade online
How to easily place a trade online...
Bitpesa is a digital foreign exchange and payment platform for frontier markets. It is a blockchain-based payment platform that allows users to send and collect business payments between Africa and the other continents.
With Bitpesa, users can easily place a trade online and have the trade executed within minutes.
The online platform is catered towards major African markets. These are the tasks that Bitpesa helps its users accomplish:
Bitpesa comes in handy when users need to send or receive payments in multiple currencies. The Kenyan-based online platform also includes African currencies that can be used to settle utility bills. It has not left out international currencies that can be used to pay suppliers from abroad.
Bitpesa offers cheap, fast payment processing and international transactions by employing the blockchain technology. Blockchain is an open, distributed ledger that can efficiently record transactions between parties in a verifiable, permanent way.
Blockchain technology is the bedrock of Bitcoin and other cryptocurrencies. Blockchain modernizes cryptocurrencies as they are today.
With Bitpesa the technology they use deploys APIs to work with a network of banks and mobile payment platforms.
Basically, Bitpesa transfers money to the bitcoin blokchain, then it gets transformed into another currency. That is how the Bitpesa comes out as cheap since the charging rates for conventional foreign exchange transfer services is quite higher.
I rate Bitpesa 6 out of 10
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