Buycoins, a Nigerian peer-to-peer crypto marketplace, recently announced the closure of one of its services, Buycoins Pro. The Bitcoin exchange sent out a communication to its users confirming the decision to ‘sunset Buycoins Pro.’ The official statement mentioned the gradual phasing out of this vertical in the upcoming days.

During this transition, Buycoins assures users that asset withdrawals will remain accessible for the next three months. Additionally, traders can continue utilising Buycoins’ Over-the-Counter (OTC) service through Desk.

The company expressed gratitude for users’ understanding and cooperation during this period of change. Acknowledging the inconvenience such changes may cause, Buycoins reaffirmed its commitment to assisting users for a smooth transition. They also thanked the Buycoins Pro community for their valuable feedback, engagement, and support, which significantly contributed to shaping the platform. Users were encouraged to reach out to the support team at support@buycoins.africa for any queries or assistance.

Originally launched as a single app in 2017, Buycoins later evolved into Basic and Pro versions. The former facilitated buying, selling, and investing in digital assets, while the Pro version—recently shut down—catered to advanced technical traders. Notably, the Basic version was rebranded as Accrue in October of the previous year following Buycoins’ acquisition of Accrue, which remains active.

Buycoins’ journey began as Bitkoin in 2017, founded by Timi Ajiboye, Ire Aderinokun, and Tomiwa Lasebikan, with the aim of providing Nigerians a secure and convenient platform for buying, selling, and storing cryptocurrencies.

In 2021, Buycoins, along with its products (including Accrue), became part of a new parent company called Helicarrier. During the rebranding in October 2021, Helicarrier comprised five products: Buycoins for buying, selling, and storing cryptocurrencies; Pro for advanced crypto traders with diverse currency pairs and trading tools; Sendcash for crypto-powered remittance; Sendcash Pay, offering developers tools for borderless payment integration; and NGNT (Nigerian Naira Token), a digital currency backed by the Naira.

The African crypto space has witnessed challenges over the past year and a half. Several startups in the industry faced shutdowns, staff layoffs, restructuring, and other adverse developments. Notable African-focused crypto companies such as LazerPay, Nestcoin, Paxful, Patricia, among others, encountered difficulties in their operations.