BitStake is a crypto technology company with services that include bitcoin exchange to and from naira denominations, one percent remittance fee on transfers, peer-to-peer lending marketplace, acquisition of loans by individuals/businesses and other financial services.
“For so long, Nigerians and Africans in general have been cut off from the advanced financial technology. With Bitcoin, we have a chance to connect with a global network of decentralized payment system with instant deposit to anyone across the world”, said David Ajayi, Co-founder Bitstake.
BitStake’s services is similar to that of Nairobi-based BitPesa that launched last year. Transactions can be conducted via regular internet access or SMS, with multiple levels of verification such as pin requests, password and two-factor authentication and a database secured with SHA-256 rounds of security.
BitStake says it is currently beta testing.