Payouts.Cash has launched an instant remittance service to Africa
Crypto startup, Payouts.cash has launched an instant payments platform in Africa starting with Nigeria.
By Anna B Kiwanuka
Blockchain payments startup, payouts.cash has announced the launch of their crypto product, which allows anyone to send money to African countries in under three minutes. The platform has so far been launched in Nigeria.
The main challenge with crypto adoption has always been the interoperability with fiat currencies. Payouts.cash addresses this issue by providing customers with immediate liquidity in their local currency when they receive cryptocurrency payments. Individuals can now send money using their Cash App, coin base, or crypto wallet, which is instantly converted to their local fiat currencies.
The platform is accessible to people who want to instantly trade their crypto for fiat at the best market rates, those who get paid in crypto, and those that want to send and receive money from friends and connections abroad but don’t want to lose most of their funds in fees, or aren’t ready to wait days for transactions to be processed.
While peer-to-peer (P2P) is a convenient way to send cryptocurrency payments, payouts.cash acts as the ultimate peer that provides instant and secure transfers when moving from crypto to cash. The company strives to save the consumer as much money as possible, and as a result, it is virtually the cheapest player on the market.
Here is how it works;
1. Enter the amount you want to send in USD, USDT, or BTC on the payouts.cash platform
2. Select the send option
3. Enter the recipient’s account details
4. Payouts.cash generates a crypto wallet address for just that transaction
5. Send the cryptocurrency to the copied wallet address.
6. Complete the transaction by clicking on the “I have made payment button”
7. The Fiat equivalent is automatically credited to the recipient’s account.
Payouts.cash, which is on a mission to help Africans become financially included on a global scale also provides APIs that allow payouts into Africa from anywhere in the globe. The service is now only available in Nigeria, but it has intentions to expand to Ghana, Kenya, and possibly other African countries in the future.