Startup Profile: Bitpaya — trade bitcoin and etherum online

by | Dec 4, 2017

It’s the 21st century and activities revolving around cryptocurrencies is not only dominating the online space but has also caught fire in Africa. Beyond this, cryptocurrency is becoming more profitable than ever before and Bitpaya, a recently launched online platform that provides exchange services for Bitcoin (BTC) and Ethereum (ETH) isn’t turning a blind eye to this seemingly lucrative space.

Besides being a platform for cryptocurrency users to automatically convert to fiat currency and then transfer into a local bank account, Bitpaya’s merchant gateway service lets online businesses accept bitcoin as a mode of payment and its OTC (Over The Counter) trade feature allows users to trade in bulk. It doesn’t end there. There’s a utility payment option which allows users to have a diverse use of bitcoin.

The startup debuted on October 1, 2017, with 6 co-founders; Uba Chukwuebuka, Ikoupu Ndifereke (CTO), Nya Essien, Lebara Emmanuel, Okafor Paulinus and Opara Henry. They all claim their solution will lessen bottleneck entry to cryptocurrency for African users. Although Bitpaya isn’t the first of its kind to be deployed in the African Market, the team is betting on its promise of diverse usage — top-ups services and bill payment options with bitcoins and ethereum, etc — as their competitive edge.

To further deliver on its value proposition, Bitpaya is in partnership with the Blockchain Nigeria Group. This, according to the team, will position Bitpaya at the forefront of cryptocurrency/blockchain revolution in Nigeria and help to build a community through meetups, conferences, and training. In their bid to serve the African market, Chukwuebuka hints that the team is already working to have Bitpaya in Botswana.

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Grace Akinosun
Grace Akinosun

Girl … with a pen. Content Creator.

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