High cost of transaction and delays from traditional money transmitters have been a thorn in the flesh of users for years. A PwC report estimates that in 2018, migrant remittances to Nigeria equaled US$25 billion, representing 6.1% of GDP. This also represents 14% year-on-year growth from the $22 billion receipt in 2017. It’s notable that diaspora remittances to Nigeria exceeded oil earnings in 2018.
Remittance via dash will see the recipient receive dash and convert to naira at a fee of 1% for volumes of $200 and above, & 2% for volumes less than $200. Senders can get dash at coinbase, uphol d, or Dash atms.
According to Nathaniel Luz, Lead of Dash Nigeria, this reiterates the commitment of Dash to be an everyday digital cash, people could use, especially in the areas of remittance and international payments. Dash is necessary for developing economies like Nigeria, as existing financial infrastructures come at a high fee to users.
Research shows that people spend as high as 30% when sending remittance to Nigeria via giftcards on Paxful.
BITFXT CEO, Franklin Odoemenam, believes that this is in line with the vision of BITFXT, to be the leading crypto infrastructure company in Africa, connecting Africa to the world. There’s no other way to grow adoption than the daily use of crypto and that is what this partnership does, opening up thousands of new people to crypto for a better money remitting experience.
Dash is digital cash, allowing millions of individuals, as well as thousands of merchants and businesses across the globe to carry out blazingly fast, secure transactions for less than a cent. A top ranked cryptocurrency, with a market cap of over $1.14 billion USD, and the rising alternative to bitcoin, Dash is accepted at thousands of merchants globally, accessible via 700+ ATMS and 90+ exchanges worldwide, making it one of the few, offering safe, decentralized solutions. For more information, visit https://www.dash.org/ or follow the organization on Twitter @DashPay.
About BITFXT Exchange
BITFXT Exchange is a top, African, hybrid, Cryptocurrency Exchange. The exchange has been the top choice in Nigeria, due to its ever increasing innovation and the ability of the exchange to always meet international standards.
With an array of Cryptocurrencies to trade from, an easy to use interface, and a currency swap which enables non traders and those who wish not to undergo the rigour of trading, to trade with ease, this even makes the exchange a force to reckon with. The exchange also processes a large volume of transactions with ease. For more information, visit https://bitfxt.com and follow on Twitter/Instagram/Facebook/LinkedIn: @bitfxt