28 Apr '15, 11am

#bitcoin Native Startup Offers Crypto Remittance Service to Nigerians: Bitstake, a cryptocur... @CoinTelegraph

#bitcoin Native Startup Offers Crypto Remittance Service to Nigerians: Bitstake, a cryptocur... @CoinTelegraph

Bitstake , a cryptocurrency exchange startup, offers a wide range of solutions to the 178 million people of Nigeria. Unlike most Bitcoin exchanges, which rely on users having access to the Internet in order to serve them, Bitstake has made it possible for its customers to access and use their wallets through SMS. This gives it a strong proposition in a country where only 38% of the population has access to the Internet, compared to a mobile phone penetration of close to 100%. Nigeria has the largest population in Africa, as well as the largest economy, with a 2013 GDP of $523 billion . Ironically, Bitcoin-related enterprises have been relatively slow to take hold there. This is why many Bitcoin enthusiasts on the continent will be watching to see how Bitstake performs in the coming months. Speaking to CoinTelegraph, the company’s CTO Alexander Christian said that Bitstake ...

Full article: http://cointelegraph.com/news/114096/native-startup-offer...

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