Topic: Which cryptocurrency payment/exchange platform allows domestic payments (Read 134 times)

Ops I think you are the one that misses understood the whole thing, what I was asking is not naira withdrawal from an exchange because that feature is already available in most of the local exchanges we have around today, but even at that, local exchanges such as remitano or binance, quidax yellow cards etdon't't allow third-party bank payment unless for withdrawal to own bank accounts, and none give the option for customers to pay bills from their naira balance or buy airtime.

But then we must be on the lookout for local exchanges with such features in our local market since other countries around the world have local exchanges that allow cryptocurrency exchange + financial services, it will be sweeter to be able to easily exchange your Bitcoin and using the balances to pay for cable tv or tip a brother who needs some financial help or use it to transfer to make payments for goods and services at some point.

Some of us are already used to the ease that cryptocurrencies bring and the fast transaction and unrestricted movement, this feature will bring about more privacy most especially since it will allow us to avoid traditional bank services.

The topic is some how complicated to understand. By the way, the only domesticated exchange platform which I can still vividly remember is Remitano because in Remitano you can sell your coins directly to the remitano Nigeria account before transferring it to the local bank account. And the only reliable exchanges that I know in my locality are Remitano and Binance but I have not seen that feature in Binance.

True talk, e hard to see any company coming up with such services and since there is a restriction to cryptocurrency transactions through the financial system, it will be impossible to get licensed to operate such services.

Since it requires licencing before any financial institutions can operate in Nigeria and there is no decentralized alternative to the existing centralized system we are already used to, bit let hope in the future, we will see some good and positive developments in that direction since the cryptocurrencies market is gaining mainstream adoption, who know a tech giant may dive into decentralized financing that represents the true spirit of anonymity and Bitcoin and other established coins will play a big role in making that to happen.

I dey yet to see exchanges way dey offer services like buying airtime, paying utility bills, buying vacation tickets, lodging and the rest of them with cryptocurrency. E go hard for this one to happen because, it's not a legal tender yet. We just dey use strong head and the fact say, you no really fit stop am dey run watin we dey run but, using it for everyday services an transaction like payment of utility bills way concern government, that na matter. Via say, government no really recognise them and this telecom services dey glued with government policies too.

When it comes to swapping coins between wallets on the same platform, even local banks no dey swap naira between variant bank accounts in the same bank. Watin you still do na transfer just that, them no charge you for the transaction but, them go charge you for sms alert.

When it comes to cryptocurrency, na technically the same thing except say, each of these transactions need confirmation on the blockchain and that one don cross boundary to go through miners way go collect processing fee. Which means, you gats pay for the process.

I am familiar with Remitano, which existed before Binance, and used it for most of my transactions. I even received rewards after trading a certain number of bitcoins or referring others. Later, Luno came along, and although I am familiar with the app, I have never used it since Binance started trading with Naira. However, I do not understand the process of purchasing airtime with bitcoin on these platforms.

I'm yet to see anything like that even in big exchanges like Binance... Na payment gateways na them dey run these kind packages. The reasons wey be say crypto exchange no dey do something like this fit be because dem dey generate enough revenues from trading, withdrawal, listing fees etc and maybe dis services go make dem lose focus of their primary assignment.

But e go be good idea for someone to come up with a payment gateway wey go dey accept cryptocurrencies to pay for these services wey u mention like DSTV, GOTV, PHCN, Airtime, Data etc. That means the payment gateway go partner with dis service operators and users go create an account with the payment channel. When dem want use any of de services, for example DSTV subscription, dem go just signin, generate and copy de deposit address, go to their exchange or wallet and initiate de transaction. Go back to the app and enter their UIC number and their subscription go dey complete. The same thing with data and airtime purchase after the transaction, just go back and enter your number.

I never hear dat name before na the first-time of hearing it.  From what OP is saying I don't think such company exist and render such service. How many unit of bitcoin will use to buy airtime, but if na the naira currency nail u go dey use am buy airtime go dey easy but if na to use bitcoin buy recharge card in the phone go day difficult.

Even p2p can not do that, remember we are talking about using bitcoin to buy airtime oo. I have not seen any post in dat but if they, di development team of programming can do that for the progressive of the block change and the platform. As the op said if any company can do that then the crypto user will be happy for that. It is a very good development to naija brethren.

I agree with you on the fact that most Nigerian cryptocurrency users are in for the investment aspect of it and not as currency,  but then some of us done dey in the field for some time now and seeing that we can use cryptocurrency as payment will be a swag for us, that is only if the fees will not kill our motivations.

Because I am sure that reason why Lazerpay folded is because of a lack of revenue to cover their operational cost, and why cryptocurrency user dey avoids them is because of several reasons such as lack of trust in the platform and also fees.

I have been done see Lazerpay several times before their closer, but its terms of service never interest me so I did not border to try out their services and I do not regard them as a good exchange either.

I have a different perspective on this matter. Following the unfortunate events of the Lekki saga, where several exchanges were targeted, a significant number of local exchanges chose to go into hiding and many even decided to shut down operations. Binance, which previously facilitated trading with the Nigerian Naira, also made adjustments by transitioning to peer-to-peer trading with a limited selection of cryptocurrency pairs. Despite the relaxation of regulations, the political climate has not fostered a conducive environment for the resumption of services or the establishment of new exchanges.

These platforms dey, one I fit remember from the top of my head na Lazerpay. Lazerpay been dey offer this exact service but the company don fold now. People no patronize the company the way them expect, the way you dey talk I believe you too been never hear of Lazerpay before now. I still maintain my opinion say Nigeria never ready to start to use cryptocurrencies as payment, we like to buy crypto as investment no doubt but to use am as currency na wahala, most people go prefer to use naira pay for all this kind things.

I get your points mate and if that happens, I think it will call for massive adoption because there are a million and one person's waiting for such development to take effect so as to boycott the local traditional banks but I doubt if the federal government would allow or give approval to such activities in Nigeria here for long now the banks have been prohibited from carrying out any deal or aiding transactions inline with Crypto currency exchange or  anything individual transaction relating to Crypto.
It I can only be possible if such organization reachesout to the exchange to partner with them but getting banks involved is a no go area and if there is any such deal and a boycott of government agencies is noticed by the federal government, I pity that organizations involved in such act.

My people I greet una, abeg e get waiten done the run through my head for some time now and I one say make I drop ammm here make we put mouths to see how we fit enlighten ourselves about the topic:
First make I define waiten e mean by cryptocurrency platform/exchange

cryptocurrency platforms/exchange na the same as the various method were we take the exchange our bitcoin into naira and withdrawing them into our bank accounts,  and examples of this platforms/exchange are Remitano, binance p2p, quidax yellow card etc.

But for all these platforms, I never see one that allowed users to send money from their balance to a third-party from their account balance on the exchange or allow customers to make bills payments such as electricity bills, DSTV,  and buying of air time just like our traditional bank apps allows us to, and if we fit to get something near that.

That is a cryptocurrency exchange platform that allows those services and if there os none it will be a good development for the tech guys to develop such exchange in Nigeria and  that will attract a lot pf cryptocurrency users since they will have the ease of making payments directly from their balance on the exchange without haven't to go through the hustle of depositing the money into a fiat bank account before making those payments.

Na why I say make I ask this question for we local board be that, make we share ideas if there is any of such platform that offers such service where customers can convert the bitcoin into naira and use it to make payments directly from the platform into individual third-party accounts or being able to make bills payments?