BitPesa: solving money remittance issues in Africa

Kakmakr

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Quote from: xypos on March 22, 2017, 04:57:37 AM

Quote from: bitcoineverything on March 17, 2017, 02:43:36 AM

Hi Guys!

Bitpesa seem to be a proof that bitcoin can solve problems even in areas that has the least resources when it comes to technology and communication.
It may not help the people directly but it creates a big impact in the country's economy, which will eventually benefit them. With Afro-sino trades growing in the country, Bitpesa focused its services in accepting Bitcoin remittances from China. It lowers cost of transfer fees and eased delays in sending payments to Africa.

Read our article to know more about the Bitcoin exchange here.

Yeah, i've read this book before where BitPesa has been featured.

I believe that BitPesa has a long way to go and can be the solution to all of Africa's money problems if done right. You don't even need internet access to be able to use BitPesa, if i still remember the contents of the book correctly. All you need is a phone, and sms access, and you are able to manage your portfolio from there, which is extremely convenient for people in rural communities.

But obviously, it is always hard to get people to adopt new tech let alone in underdeveloped countries.

BitPesa is one of the few projects that i actually believe will take off in the future.

BitPesa work closely with M-Pesa because BitPesa only work in some countries. It is still cheaper than WU or Moneygram, but not the ideal solution for these countries where the majority of the transactions are micro transactions.

M-Pesa rely on a centralized mobile network, which is also not ideal, because it can be targeted and taken down, when government policies change. Bitcoin is de-centralized, so it is a bit harder to take that down. ^smile^

HabBear

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Better than Western Union explains why Bitpesa can exist. The fact that Bitpesa still has high fees doesn't mean they get to lead the market, but the only participant that has a say in how well Bitpesa does is the People. If Bitpesa offers weak service, high fees...don't use them!

Quote from: panju1 on March 22, 2017, 01:13:04 AM

Quote from: HabBear on March 22, 2017, 12:45:27 AM

Quote from: ASHLIUSZ on March 17, 2017, 02:58:32 AM

Bitpesa has levied big fee transaction fee to its users. This seems that bitpesa grabs the best profit out of it, now as bitcoin is gaining more acceptance in Africa bitpesa has used the best opportunity to make them strong into the country and get the support of the major population.

Is the greater than what Western Union charges? I doubt it.

This exchange doesn't need to have the best rates or better rates than other exchanges, they just need to have better rates than Western Union, which is their true competition!

Western Union just rips off people in terms of the conversion rates that it applies, plus the fees it charges.
Saying that BitPesa is better than Western Union isn't much. The benefits of lower costs should percolate to the people, not make middlemen like BitPesa rich.

cryp24x

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Quote from: Xester on March 22, 2017, 08:34:26 AM

Quote from: bitcoineverything on March 17, 2017, 02:43:36 AM

Hi Guys!

Bitpesa seem to be a proof that bitcoin can solve problems even in areas that has the least resources when it comes to technology and communication.
It may not help the people directly but it creates a big impact in the country's economy, which will eventually benefit them. With Afro-sino trades growing in the country, Bitpesa focused its services in accepting Bitcoin remittances from China. It lowers cost of transfer fees and eased delays in sending payments to Africa.

Read our article to know more about the Bitcoin exchange here.

Are you saying that Bitpesa is planning to remove bitcoin from China and transfer it to Africa. Well that is not something we should surprise of the major exchanges in China still cannot enable its withdrawals and Chinese miners and btc holders needs another portal to sell and distribute their bitcoins and the target is Africa. I dont have something against it since Africa is really a good market and Bitcoin could help many lives and undemployed can find jobs or ways of earning online just like me. More power to Bitpesa.

Maybe because of the tight regulation of China in their exchanges and BitPesa maybe are having a hard time complying with the requirements the probable reason why they are moving to Africa, that less regulate Bitcoin. Aside from that since Africa is a possible growing market for Bitcoin, it is always nice to be one of the pioneer of the service. Aside from that if Bitpesa offers a lesser fee then people in Africa will greatly benefit from this stuff.

Xester

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Quote from: bitcoineverything on March 17, 2017, 02:43:36 AM

Hi Guys!

Bitpesa seem to be a proof that bitcoin can solve problems even in areas that has the least resources when it comes to technology and communication.
It may not help the people directly but it creates a big impact in the country's economy, which will eventually benefit them. With Afro-sino trades growing in the country, Bitpesa focused its services in accepting Bitcoin remittances from China. It lowers cost of transfer fees and eased delays in sending payments to Africa.

Read our article to know more about the Bitcoin exchange here.

Are you saying that Bitpesa is planning to remove bitcoin from China and transfer it to Africa. Well that is not something we should surprise of the major exchanges in China still cannot enable its withdrawals and Chinese miners and btc holders needs another portal to sell and distribute their bitcoins and the target is Africa. I dont have something against it since Africa is really a good market and Bitcoin could help many lives and undemployed can find jobs or ways of earning online just like me. More power to Bitpesa.

xypos

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Quote from: bitcoineverything on March 17, 2017, 02:43:36 AM

Hi Guys!

Bitpesa seem to be a proof that bitcoin can solve problems even in areas that has the least resources when it comes to technology and communication.
It may not help the people directly but it creates a big impact in the country's economy, which will eventually benefit them. With Afro-sino trades growing in the country, Bitpesa focused its services in accepting Bitcoin remittances from China. It lowers cost of transfer fees and eased delays in sending payments to Africa.

Read our article to know more about the Bitcoin exchange here.

Yeah, i've read this book before where BitPesa has been featured.

I believe that BitPesa has a long way to go and can be the solution to all of Africa's money problems if done right. You don't even need internet access to be able to use BitPesa, if i still remember the contents of the book correctly. All you need is a phone, and sms access, and you are able to manage your portfolio from there, which is extremely convenient for people in rural communities.

But obviously, it is always hard to get people to adopt new tech let alone in underdeveloped countries.

BitPesa is one of the few projects that i actually believe will take off in the future.

Dimelord

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Well,thats another benefit from bitcoin.Transactions to under developed areas in africa had been made possible with Bitpesa.That shows bitcoin is a must for the development of world economy as a whole.Bitcoin is not only beneficial to elite,but also to peoples of under developed areas.I think bitcoin would soon shut down the mouths of its criticizers.

Kakmakr

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Quote from: Victorycoin on March 17, 2017, 01:11:36 PM

Quote from: meemiinii on March 17, 2017, 03:03:33 AM

this would definitely help the country in the future and no doubt about it. as long as the team will continue to develop or make a time to time innovations. this may not directly has an impact to people or to the community, especially to countries such as africa that they are behind in terms of technologies but i know eventually it will. looking forward to hear more good news from BitPesa.

Your knowledge of Africa as a community/country is quite ludicrous - get well educated! Bitpesa to the best of my knowledge is a remittance startup company operational in a few countries in Africa - Kenya, Nigeria, Uganda. Their fees are a bit on the high side for now, nevertheless they make remittance a stress free exercise, one can carry out any time, any day from even your bathroom. Btw, they ask for ID for verification.

Bitcoin is still much cheaper than any other remmitance service I know that operate in these countries. For example MoneyGram / WU and even cheaper that M-Pesa when you transferring higher amounts within the country. I have been there and I have seen what ridiculous fees these services charge.

Bitcoin with SegWit and LN can have a major impact in these countries by just replacing the old centralized services with cheaper technology. ^smile^

panju1

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Quote from: HabBear on March 22, 2017, 12:45:27 AM

Quote from: ASHLIUSZ on March 17, 2017, 02:58:32 AM

Bitpesa has levied big fee transaction fee to its users. This seems that bitpesa grabs the best profit out of it, now as bitcoin is gaining more acceptance in Africa bitpesa has used the best opportunity to make them strong into the country and get the support of the major population.

Is the greater than what Western Union charges? I doubt it.

This exchange doesn't need to have the best rates or better rates than other exchanges, they just need to have better rates than Western Union, which is their true competition!

Western Union just rips off people in terms of the conversion rates that it applies, plus the fees it charges.
Saying that BitPesa is better than Western Union isn't much. The benefits of lower costs should percolate to the people, not make middlemen like BitPesa rich.

HabBear

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Quote from: ASHLIUSZ on March 17, 2017, 02:58:32 AM

Bitpesa has levied big fee transaction fee to its users. This seems that bitpesa grabs the best profit out of it, now as bitcoin is gaining more acceptance in Africa bitpesa has used the best opportunity to make them strong into the country and get the support of the major population.

Is the greater than what Western Union charges? I doubt it.

This exchange doesn't need to have the best rates or better rates than other exchanges, they just need to have better rates than Western Union, which is their true competition!

bitcoineverything

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Quote from: TimeTeller on March 17, 2017, 02:59:06 AM

People just need to be aware or knowledgeable on how to use that exchange because in actuality some are still hesitant in using the crypto service.
But once they tried it, they will not only rely on it but also refer it to their colleagues/friends.
That's why such exchange will be a big threat to Western Union and alike.

If big companies can trust Bitpesa, definitely individuals will do too.

bitcoineverything

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Quote from: ASHLIUSZ on March 17, 2017, 02:58:32 AM

Bitpesa has levied big fee transaction fee to its users. This seems that bitpesa grabs the best profit out of it, now as bitcoin is gaining more acceptance in Africa bitpesa has used the best opportunity to make them strong into the country and get the support of the major population.

Even though Bitpesa's transaction fees are bigger than any other exchange still, it is cheaper than traditional way of sending money in africa and even anywhere in the world. The trust that they gained through the years made them a strong bitcoin exchange in the country.

Victorycoin

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Quote from: meemiinii on March 17, 2017, 03:03:33 AM

this would definitely help the country in the future and no doubt about it. as long as the team will continue to develop or make a time to time innovations. this may not directly has an impact to people or to the community, especially to countries such as africa that they are behind in terms of technologies but i know eventually it will. looking forward to hear more good news from BitPesa.

Your knowledge of Africa as a community/country is quite ludicrous - get well educated! Bitpesa to the best of my knowledge is a remittance startup company operational in a few countries in Africa - Kenya, Nigeria, Uganda. Their fees are a bit on the high side for now, nevertheless they make remittance a stress free exercise, one can carry out any time, any day from even your bathroom. Btw, they ask for ID for verification.

Patatas

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Quote from: bitcoineverything on March 17, 2017, 02:43:36 AM

It may not help the people directly but it creates a big impact in the country's economy, which will eventually benefit them. With Afro-sino trades growing in the country,

I disagree.Don't think a digital asset like bitcoin which operates in an unregulated way impacts a country's economy.I get what you're trying to say but definitely is wrong in terms of commerce.

However,it's always good to see the impact of a community managed asset spreading its wings across the continents.

megynacuna

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Well it seems promising and if it stays as we are being told then western union and the likes will find it tough to compete in the coming years because bitpesa together with Bitcoin and the Altcoins will deliver better and quicker service than the normal fiat payment processors.

meemiinii

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this would definitely help the country in the future and no doubt about it. as long as the team will continue to develop or make a time to time innovations. this may not directly has an impact to people or to the community, especially to countries such as africa that they are behind in terms of technologies but i know eventually it will. looking forward to hear more good news from BitPesa.

TimeTeller

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People just need to be aware or knowledgeable on how to use that exchange because in actuality some are still hesitant in using the crypto service.
But once they tried it, they will not only rely on it but also refer it to their colleagues/friends.
That's why such exchange will be a big threat to Western Union and alike.

ASHLIUSZ

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Bitpesa has levied big fee transaction fee to its users. This seems that bitpesa grabs the best profit out of it, now as bitcoin is gaining more acceptance in Africa bitpesa has used the best opportunity to make them strong into the country and get the support of the major population.

bitcoineverything

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InvestnTrade. Latest from the crypto space.

Hi Guys!

Bitpesa seem to be a proof that bitcoin can solve problems even in areas that has the least resources when it comes to technology and communication.
It may not help the people directly but it creates a big impact in the country's economy, which will eventually benefit them. With Afro-sino trades growing in the country, Bitpesa focused its services in accepting Bitcoin remittances from China. It lowers cost of transfer fees and eased delays in sending payments to Africa.

Read our article to know more about the Bitcoin exchange here.

Topic: BitPesa: solving money remittance issues in Africa (Read 706 times)