Crypto evolves daily and even with its volatile nature, many people tend to earn big trading cryptocurrencies here in Nigeria. On February 5th 2021, the Central Bank of Nigeria (CBN) released a circular addressed to banks and other financial institutions with the directive that transactions in cryptocurrencies and facilitating payment for cryptocurrency exchanges should be prohibited.
So what other alternatives are there? Enter Bundle Africa, the new social app for trading cryptocurrencies, sending and receiving cash, and saving in dollars.
This article contains the answer to every question you have about Bundle Africa for Crypto.
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What is Bundle Africa?
Bundle Africa is a social payment app that makes it easy and fun to make payments with cash as well as cryptocurrencies like Bitcoin, Ether, BUSD and BNB. Essentially, Bundle is a digital wallet like PayPal and Google Pay for Africans but this time with an extra layer that supports crypto.
Bundle is also available as a P2P payment option and this means as a crypto trader on the Binance P2P platform, you can choose to be paid via Bundle. It is very convenient in such a way that Bundlers can send and receive crypto and cash at no extra cost but with just a username.
Bundle Africa is founded and owned by Yele Bademosi; a former director at Binance labs and also a founding partner of Microtraction, an early-stage venture capital fund. According to him, Bundle’s goal has always been to fuel the adoption of cryptocurrency in Africa so as to make economic freedom and prosperity a reality for all Africans no matter where they live.
How does Bundle Africa work?
So with Bundle Africa, you can do the following;
- You are able to make free transfers to people on your contact list that use Bundle. You can send and receive cash and crypto with just your friends’ usernames.
- You can also send cash or crypto to your friend or contact who does not use Bundle yet using their phone number and all the recipient will have to do is to join Bundle to claim the payment.
- Bundle allows you to save BUSD (dollars) and earn up to 5.7% in return with Bundle Vault
- You can also buy, sell and convert cryptocurrencies including Bitcoin, Ether, BUSD, BNB, Chainlink and TRON on Bundle with your Naira debit card, a bank transfer or another crypto.
- You can also sell crypto and withdraw cash into your bank account.
- You can buy and sell as little as NGN 500 worth of Bitcoin or BNB on Bundle.
- And yes, you can also refer and earn a commission for every person who joins Bundle through your link.
- You can set price alerts for any crypto on Bundle and receive alerts when the crypto hit the target price, so you can buy or sell crypto at your preferred price at any time.
Is Bundle Africa Legit?
Bundle Africa is secure, legit and safe. Although it operates as an independent entity, it is backed by Binance which provided a pre-seed capital of $450,000 (184,500,000.00 Nigerian Naira) in September 2019, as well as other African investors.
How to use Bundle Africa
To get started with Bundle,
- Download the Bundle app from Google Playstore or App store
- Register with your phone number
- Fund your Bundle account with Naira using the ‘ADD CASH’ feature
- You can proceed to buy any crypto featured in the Bundle App.
How to buy Cryptocurrency from Bundle
- Open the Bundle app;
- Select any Cryptocurrency you want to buy;
- Input the amount of Cryptocurrency you want to buy in Naira;
- Click on the buy button;
- You can also toggle between the Naira amount or cryptocurrency;
- Input your Bundle PIN to confirm the purchase;
- The order will be processed immediately and Bundle will notify you as soon as the order has been completed.
How to Withdraw Cash from Bundle Africa
- Open Bundle and click Withdraw;
- Select Nigerian Naira;
- Select bank transfer;
- Type in the amount of cash you want to withdraw;
- Tap add a new bank account;
- Type in your bank account details and click continue;
- Confirm your account name and number and click continue;
- Enter your Bundle PIN to confirm withdrawal;
- A credit alert from your bank will be sent after the withdrawal is completed.
NOTE: There is a daily withdrawal limit depending on your account level and you upgrade your account to raise the withdrawal limit. Make sure the app is always updated before carrying out any withdrawal.
Bundle Africa fees
Bundle charges a fee of N150 as a deposit fee and a withdrawal fee of N50 for Naira transactions. For BNB, it charges 0.001 of your withdrawal amount, 0.003 for ETH and 0.02 for BUSD.
