This week, crypto.com through its mobile app has added two African fiat currencies. In its bid to attract and win a global appeal more so, the African market, the company has added ZAR (South Africa) and Kes (Kenya) as payment currencies. These two national currencies join other 14 national payment currencies options available on the app including USD, GBP, EUR, CAD and AUD among others.
It is no doubt the African market is endearing itself to leading cryptocurrency exchanges especially with the witness of these platforms trooping into the continent. See here to learn reasons for increased Bitcoin P2P trading in Africa. Among the reasons a user would want to select own currency while transacting on the platform includes:
- Cost Saving
It is an opportunity to save on transactional costs in this case a user avoids foreign exchange fees charged by your service provider. In most cases when converting crypto to fiat especially for use purposes one has to undergo foreign exchange inconveniences such as price fluctuations and fees charged by card issuers.
- Monitor Your Portfolio in Local Currency
We are all acquainted to valuing our wealth in local currency which we can easily identify with. Therefore, crypto.com users in Kenya and South Africa get to save time and monitor their portfolio easily and intuitively in their local currency Kes and Zar respectively.