If you are a crypto user in Nigeria, then one thing you are regularly in need of is to convert your crypto into naira. Most importantly, you need the conversion done fast each time, and almost in auto mode, so that you can continue your other daily activities seamlessly. And this is what Cash-in App offers you.
Based on volume of transactions, the crypto community in Nigeria is the second largest in Africa behind South Africa, and it is unarguably the most vibrant on the continent. According to Yahoo Finance, 1 in 3 Nigerians say they have once used one form of crypto or the other. Compared to the 10% of South Africans who hold crypto as reported by Further Africa, Nigeria definitely has the most vibrant crypto community on the continent. This is evident in the country’s youth population who are bent on investing into and using digital currencies, as energetic participators in the emerging digital economy.
Although P2P and OTC platforms are popular in Nigeria, they are riddled with a lot of problems related to security and poor user experience. However, Nigeria’s crypto community has had no choice than to continue using them, until recently when Cash-in App was launched to bring automated crypto-to-naira service to the community.
Cash-in App is an automated crypto-to-naira app that instantly pays out naira equivalent to user’s local bank account immediately crypto is detected in the user’s designated Cash-in address.
Here are top 5 problems that Cash-in App solves for Nigeria’s crypto community:
- Delay in Transaction Fulfillments
Since OTC platforms are analog in how they operate, users often have to wait for a while after depositing their crypto before they can get paid the naira equivalent.
But Cash-in has solved this problem by automating the payout process immediately a crypto deposit is detected in the user’s designated Cash-in address. So typically, Cash-in App users get naira equivalent sent to their bank accounts within 2 minutes or less after crypto deposits are detected. That is super-fast!
- User’s Security Concerns
A lot of people used bogus crypto OTC platforms to scam unsuspecting crypto users of their money. After receiving crypto deposits from their users, some of them simply made away with the crypto and never paid out naira to their depositors, or paid out less naira than the crypto was worth.
However, Cash-in App has solved this problem by developing and providing a mobile app, as well as a legal entity duly registered in the country, so users can feel safe using the platform because it is operated with respect for international best practices.
Furthermore, Cash-in App only requires a user’s bank account number, name and bank name. It does NOT require or request for user’s private banking details such as their BVN or card PIN. This way, user’s delicate banking details are not unnecessarily exposed on the platform.
- The Limitations in Making and Receiving Crypto Payments
Crypto is not legal tender in Nigeria, so the burgeoning young population of crypto users in the country could not use crypto to make purchases until now. Crypto users in Nigeria first had to go convert their crypto into Naira on a P2P or OTC platform before they could then spend the Naira.
Similarly, a lot of merchants and businesses in the country find it difficult accepting crypto payments because they do not want to have to go changing it into Naira in order to avoid being affected by market volatility within that timeframe.
But with Cash-in App, now, crypto users can make payments to merchants or shop owners using crypto while the merchants or shop owners will get the naira equivalent automatically and instantly in their bank accounts.
- The Problem of Interoperability
Among other crypto off-ramp products that are available in Nigeria, only Cash-in App offers interoperability with other platforms such as Binance, Trust Wallet and Transak, with more still in the works.
Thanks to Binance Pay being integrated into Cash-in App, Binance users can use Cash-in App to convert any crypto that is in their Binance account into Naira without having to first transfer the crypto via a blockchain. With just a few clicks from inside Cash-in App, the user will have the naira equivalent of their crypto amount sitting in their bank account.
So, with Cash-in App, Binance users can now spend their crypto in naira directly from their Binance app. And the same applies to Trust Wallet users too.
- Complex and Poor User Experience Design
Due to the poor user experience design of most P2P platforms, lots of crypto users either find it difficult to use them or tiresome. Some then go to OTC platforms in search of easier user experience, but not all are lucky to have their funds safe in the process.
But Cash-in App has changed all of that positively for the crypto community. Cash-in App offers the best user interface and user experience available in Nigeria’s crypto off-ramp market. The app is very easy to use, and only requires minimal input from the user. All you have to do is send crypto to your Cash-in address and once it is detected, the naira equivalent is immediately sent to your nominated bank account.
The app features app notifications, 24/7 in-app support, referral bonuses, rate calculator, real-time market rate display, Binance Pay gateway, Trust Wallet gateway, Transak gateway, a FAQ page, and a bug report page, all aimed at providing the best and seamless user experience for Cash-in users.
Start your seamless Cash-in App experience today by downloading the app from Play Store or Apple Store.
For more information, please check the official website or medium, or send an email to info@cash-in.app
