Peer to Peer (P2P) marketplaces have taken over as the preferred platforms in Africa as a result of financial regulators’ general negative attitude toward digital assets.
Kenya has attracted considerable interest from numerous P2P exchange service providers as the global leader in P2P cryptocurrency exchange. One of them, Bitpapa, has just lately entered the Kenyan cryptocurrency market.
As a global P2P marketplace operating worldwide, Bitpapa has been offering cryptocurrency trading services since 2018. It has been only a matter of time before it tapped into the highly lucrative Kenyan cryptocurrency market.
With the P2P platform, users are able to trade their Bitcoin (Ethereum, TON, Monero, and USDT) for the Kenyan shilling in a safe and secure P2P environment via a website, mobile app, or a Telegram bot (unique among crypto trading platforms).
The platform comes with various perks such as ease of convenience for users with the simple registration process. All users need is their email. No ID verification or confirmation using a phone number is required. Users can start trading immediately after activating their account by following a link sent to their email. Additionally, there are no limits to how much a user can trade daily, even if they stay unverified.
The platform has a policy that dictates the fair and equal treatment of all account users and it purports to have friendly and knowledgeable support staff available round the clock 24/7 to help with any issues or queries.
Regardless of whether a user is a buyer or a seller, the marketplace always secures the transactions on the site. Whenever a user purchases cryptocurrency, Bitpapa ensures that the seller executes their transaction.
The purchased cryptocurrency is locked in escrow, which prevents malicious traders from ripping a user off. If the seller doesn’t release coins once paid, a user can start a dispute, and then the marketplace intervenes.
For the sellers, the coins are released only after receiving payment, and the burden of proof is on the buyer. Therefore, the buyer must prove that the buyer transferred the payment to the seller according to the provided details.
Also, users can create Bitpapa codes and give them to their friends or customers. People can then redeem these codes on Bitpapa to top up their balance on the platform at no cost.