In a move similar to PayPal’s recent addition of bitcoin (BTC) and other cryptocurrencies, ChipperCash has added in-app bitcoin buying and selling functionality.
Chipper Cash is one of the most popular payment applications in Africa. The app operates in Nigeria, Kenya, South Africa, Ghana, Uganda, Rwanda, and Tanzania.
Users can deposit their local currencies through several methods and send money to people in other supported countries. Also, users can receive payments and withdraw the money to local accounts.
This new feature will open up cryptocurrency to over 3 million users who contribute to over $100 million in monthly transaction volume. The initial release is only supported in Nigeria, South Africa, and Uganda. Users in each country can buy a minimum of 380 NGN/ 3,500 UGX/ 16 ZA of bitcoin (BTC).
The addition of bitcoin on Chipper Cash is similar to PayPal’s addition. Users can not use their bitcoin outside the app. Users can buy, keep, and sell bitcoin (BTC) inside the app only. Users cannot withdraw the bitcoin they buy to external wallets.
Another interesting thing to note is the fact that Chipper Cash plays a major role in the African P2P market. Chipper Cash connects P2P traders from different countries since the app allows cross-border transfers.
Chipper Cash now provides an option for existing users who are already trading crypto on P2P platforms and new users who are not yet exposed.