How Cryptocurrencies make it easier to Send Money

Lagos — December 03, 2020 — One of Africa’s largest cryptocurrency exchanges, Quidax has added the Dash cryptocurrency to the list of digital currencies you can buy/sell with Naira.

Dash is a cryptocurrency that can be used to send money from one place to another just like Bitcoin. However, Dash transactions are faster (2 seconds) with optional privacy.

According to Uzo Awili, Chief Technology Officer (CTO) at Quidax, “in the last few months, we have seen an increasing number of businesses and individuals use cryptocurrencies to send and receive money from around the world faster and cheaper than ever before. A number of these businesses and individuals used cryptocurrency for the first time this year and continued using it after that.”
“Naturally, adding another cryptocurrency that helps our customers perform their transactions faster and with almost zero transaction fees was a no brainer” Uzo stated.

According to a 2020 research by Chainalysis, Nigeria ranked eight out of 154 countries for crypto adoption and usage.

Speaking on this Nathaniel Luz, the Lead of Dash Nigeria mentioned “that in the face of Foreign Exchange (FX) shortage more and more people are turning to cryptocurrencies like Dash as a way to pay their suppliers and partners in other countries, as well as receive remittance. So it’s no surprise that Nigeria ranks 8th in the world.”

Nigeria is currently experiencing an FX shortage. If it continues, it will become harder for businesses who rely on FX for raw material importation to keep their doors open for business. For these businesses, cryptocurrencies like Dash are becoming an option they are starting to explore.

Dash which was designed to offer financial freedom to everyone enables millions of people across the globe to carry out instant and secure transactions with near-zero fees. With Dash now on Quidax, anyone in Nigeria can buy Dash using their Debit card or via Bank transfer and send it to anyone in any part of the world. Quidax also integrated Dash’s InstantSend feature which makes it possible for transactions to be received in a second, an obvious edge over other cryptocurrencies.

Quidax which was one of 10 startups that participated in the Techstars Toronto program this year makes it possible for people to sell their Dash and get instant Naira credit in their Bank account.

About Quidax

Quidax is an African-focused cryptocurrency exchange that makes it easy for you to buy/sell Dash, Bitcoin, USDT and other cryptocurrencies. Quidax also enables Fintech companies to offer cryptocurrency services to their customers via its cryptocurrency API.

About Dash

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.