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KoinWa launches P2P app as remedy for Nigerians to trade bitcoins

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KoinWa team
KoinWa's team

The report titled The state of crypto in Africa recognizes the Continent as one of the top players in cryptocurrency around the globe.

A report on the rise of crypto adoption in Africa also shows that Nigeria, Ghana, South Africa, Kenya among other countries show great affinity for bitcoin adoption.

In the light of this, the crypto market in Nigeria has undoubtedly shown great reliance with the influx of investors who embrace the trend within the shortest period under review.

To further serve this market, a trusted partner and also, a foremost cryptocurrency platform “Koinwa” with office in Nigeria and USA has launched a mobile application that will aid traders carry out transactions seamlessly.

KoinWa app

Following the CBN recent directive on cryptocurrency in Nigeria, Koinwa is not blind to the challenges and difficulty this decision trapped the Nigerian bitcoin traders in, furtherance to this, Koinwa has integrated a peer-2-peer platform which should aid traders to buy and sell bitcoin without falling prey in the hands of rampant scammers who pose as real exchangers.

With this in place, Koinwa users can now trade bitcoin from any part of world without stress.

The new feature is borderless since traders around the world can sign up conveniently as bitcoin vendors, hence trade (buy and sell) bitcoin for local currency via bank transfers, Mobile money, direct account deposit and also cash in person payment etc.

Koinwa added the peer-2-peer trading to help traders access cash wherever they travel to, which could be on business trip, vacation etc.

The platform is built with users in mind, wherein they can be their own bank with maximum security in place.

KoinWa

An open financial system can be a great equalizer with an aim to lift millions of Africans out of poverty which overtime bedeviled the continent’s economic prosperity.

How to get onboard the Koinwa Mobile App

Koinwa app can be downloaded on Google Play Store, available on android and iOS operating systems alongside the web version.

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  • Having downloaded the app, install same on your mobile device.
  • Sign up by choosing a user name, email address and preferred password.
  • Having completed the required fields, you will have to log in to your preferred email to activate your account, upon which you may then login with your username and password afterwards.

Congratulations, you may now start exploring the features on this app, wherein you may start trading bitcoin via the peer-2-peer feature available on the app.

How to buy and sell bitcoin using the peer-2-peer feature

  • Login to the Koinwa app on your mobile device
  • Scroll down to locate the buy/sell bitcoin option, click on the option that applies to your preferred action either to buy or sell.
  • From the list of available sellers assuming you wish to buy, select a preferred seller to buy from.
  • In the next slide, select “Buy” then enter the amount you wish to buy in NGN, of which the BTC value will be displayed for you to ascertain how much Satoshi or BTC you’re getting, having done this click continue In the next slide, you’ll have a transaction summary of how much bitcoin you’re buying as well the Equivalent in NGN.
  • Click on “submit trade request”

You will be required to enter your 4-digit transaction PIN, (Note, you are expected to have set up this PIN before commencing with your transaction)

To set up the PIN,

Kindly go to the app menu

  • From the list of options select “Change pin code”
  • Insert your password then your 4-digit Pin, click ‘Save Pin” and that is it. This PIN will always be used for your authorization.

Having authorized the transaction, check your mail for the seller’s payment details, once payment completed, your wallet will be credited with BTC value.

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