Nigerian peer-to-peer cryptocurrency marketplace Purchasecoins will close Buycoins Pro. The Bitcoin exchange wrote to subscribers that it would be “sunsetting Buycoins Pro,” according to web stories. “The vertical will be sunsetted in the coming days,” it claimed.
The corporation says the process includes taking assets for three months. Customers can still use Desk for Buycoin’s OTC service.
We appreciate your patience during this time. We’re here to guide you through the sunsetting process, as these changes might be frustrating—greetings from Buycoins Pro. Your feedback, involvement, and help shaped our platform. For inquiries or assistance, email support@buycoins.africa. Companies stated in releases.
At its introduction in 2017, Buycoins has one app. It became Basic and Pro afterwards. While the former was for investing in digital assets, the Pro edition, which closed, was for advanced technical traders.
The Basic version was rebranded as Accrue in October 2018 after Buycoins acquired Accrue, which survives.
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Journey of Buycoins
Timi Ajiboye, Ire Aderinokun, and Tomiwa Lasebikan created Buycoins in 2017 “to afford Nigerians a safe and easy way to buy, sell and store cryptocurrencies.”
In 2021, Helicarrier acquired the exchange and its goods, including Accrue.
Helicarrier’s five products at the October 2021 renaming were Buycoins, a cryptocurrency trading platform; Pro, a platform for advanced crypto traders with an order book, many more currency pairs, and other tools for super-fast trading on the go; Sendcash, a crypto-powered remittance platform; Sendcash Pay, a suite of developer tools for borderless payment experiences on digital products; and NGNT.
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Upheaval in the African crypto space
African cryptocurrency companies have had a rough eighteen months or so. There have been a lot of shutdowns, layoffs, reorganization, and other nasty things happening in the business.
LazerPay, Nestcoin, Paxful, Patricia, and other well-known crypto companies emphasizing Africa have all fired employees, shut down services, and had other problems.
The companies hope the expected bull run in 2024 will bring them good news.