12 September 2022
PRESS RELEASE. In the face of financial regulators’ overall negative attitude toward digital assets, P2P marketplaces have become the platforms of choice across Africa. As the world leader in P2P cryptocurrency exchange, Kenya has drawn much attention from many P2P exchange service providers. Bitpapa is one of them, and it has recently entered the Kenyan crypto market.
As a global P2P marketplace operating worldwide, Bitpapa has been offering cryptocurrency trading services since 2018, only a matter of time before it entered the highly lucrative Kenyan cryptocurrency market.
Thanks to Bitpapa, now users can 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).
There is the ease of convenience for users via a simple registration with an email address. No ID verification is required or confirmation with a phone number. Users can start trading immediately after activating their account by following a link sent to their email. There are no limits to how much a user can trade daily, even if they stay unverified.
On the Bitpapa platform, there is a policy that dictates the fair and equal treatment of all account users. The friendly and knowledgable support staff is available round the clock 24/7 to help with any issues or queries.
The marketplace always protects the trades on the platform, whether the user is the buyer or the seller. When a user buys cryptocurrency, Bitpapa can assure them that the seller will go through with the deal. 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.
A trade is either transacted, and the counterparties receive their due, or it gets cancelled with no one losing anything.
It is not uncommon to use P2P marketplaces as remittance services. Internal transfers on Bitpapa are instant and free of charge, and a user can use them to send coins from one user to another. All wallet addresses remain the same – Bitpapa knows which belongs to the marketplace and automatically distinguishes between internal and external addresses.
Moreover, with the powerful Telegram bot, 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.
Now that Bitpapa has launched in Kenya, the competition in this market is heating up. Cryptocurrencies have excited Kenyan users worldwide, and Bitpapa aims to be their go-to platform for crypto exchange and trades.
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