How We Intend To Use SwitchKey To Add More Value to the Cryptocurrency Market In Africa.

Over the years, Africa has been facing challenges with cross-border transactions. With that in mind, a challenge was brought upon us to find a solution to the barrier. Here we talk about what, why and how we created the solution.

What Is SwitchKey ?

SwitchKey is an online platform for sending money to any bank in Africa or mobile number from anywhere in the world using cryptocurrency.

Why SwitchKey ?

At SwitchKey we want to adhere to the initial point of cryptocurrencies being that it is fast, cheap and anonymous. Also to avoid KYC or privacy concerns we do not store user data at the core of SwitchKey.

How SwitchKey Plans To Achieve this Goal?

We plan to solve this challenge by starting with the first cryptocurrency in the market (Bitcoin). We choose to start from Nigeria to test the market before expanding to other nations in Africa. After that, we then adopt various altcoins which our team is striving to achieve in order to give our customers more options & the best experience.

More so..

Before the development process, we spoke to quite a number of people in the ‘cryptosphere’ and asked what problems they face. With the answers we got, we used them to enhance the user experience in our development process. The KYC feature that most exchanges adopt was complained most about. We eliminated that by not taking hold of any user data and making it a single channel exchange. By doing so there is little to no privacy concerns and KYC laws do not apply.

Another issue was the time frame of transactions. Almost all exchanges do not send funds to their users in under 24 hours. Think of how urgent a user might need that money or someone he cares about. Why not simply use the straightforward and seamless method we created and eliminate layers of unnecessary security protocols and save time.

This article will continue to be updated as we keep getting feedback. If you have any questions kindly ask in the comment section. Thank You.

Contributor: Musa Farouk

Note from SwitchKey