Blog

Jan 17

2020

Bitfxt Partners with Dash

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?, ?uphold?, 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 other platform

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.

About Dash

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.

Sydney Ifergan, the crypto expert, tweeted:  “Dash has been busy improving themselves, and it shows in their fundamental developments, particularly the DIPs.”

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.

Dash started this week at $65, and it was suffering; however, it skyrocketed all of a sudden by 115% on Monday, touching $140. The epic move helped Dash claim a decent spot in the rank list of cryptocurrencies. The spike got attributed to Dash Improvement Proposals (DIP) and other fundamental developments.

Yet another reason is:  “We are proud to announce the release of Dash Platform on Evonet, our public testing environment for Evolution features.”

For more information, visit dash or follow the organization on Twitter.

 

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 be reckoned with.

The exchange also processes a large volume of transactions with ease.

 

Meanwhile, the Crypto Ratings Council, formed by the association of several crypto businesses who are committed to working in compliance with the SEC, has stated that Dash has the least chances to be considered a security.

Crypto Rating Council rates digital assets on a scale of 1 through 5. Dash scores 1, which means the asset has very few or no characteristics to be called a security. Thus, the token might become the point of tight regulations in the days to come in line with Bitcoin, Litecoin, Monero, Horizen, and the DAI stable coin.

 

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