A New Bitcoin Exchange Launches In Nigeria

A new Bitcoin exchange has been launched in Nigeria, it is called Bitkoin. The exchange launched on 1 October 2017 and was announced by the founder, Timi Ajiboye.

Although Bitkoin has announced that they are available across all of Afrika, at launch only buying (not selling) is available for anyone outside Nigeria. Those residing in Nigeria can buy and sell Bitcoins on the Bitkoin exchange.

Bitkoin is not the first Afrikan Bitcoin exchange, already Luno operates in several countries across the continent including Nigeria. Similar to how Bitkoin works, Luno also offers users the ability to purchase Bitcoins using their credit and debit cards as well as via their bank accounts.

Bitkoin Timi Ajiboye
How Bitkoin works.

“Our escrow service is completely automated, which means you don't need to trust the buyer or the seller, we've got that covered,” said Ajiboye.

Bitkoin comes into a market that already provides some options for Nigerians who want to buy and sell Bitcoins. Apart from Luno, there's also Remitano and NairaEx not to mention other international services that allow Nigerians, and anyone in Afrika, to buy Bitcoins. It is, however, encouraging that more exchanges are being launched in the West Afrikan country that will likely see an increase in the use of Bitcoin.

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