Quidax, the African-founded cryptocurrency exchange, has launched a USD savings feature. With this feature, customers from all over the world will be able to use the tool to save in US dollars from local currencies like Naira or cryptocurrencies like Bitcoin, Ethereum, and many others.
According to the statement that was made on the Quidax Blog, the USD savings function was developed as a direct result of the comments and suggestions made by some of Quidax’s current customers A consumer by the name of Samuel provided one such piece of feedback. Samuel said he was looking for ways to keep his savings safe from inflation while still making money from interest.
Quidax US Dollar (USD) Savings Plan
On Quidax, When users save in US dollars, they have the opportunity to earn up to 10% yearly interest, and that money will be paid out daily. They will also have the option of choosing between two savings plans, one of which is flexible and the other fixed. Customers may access their savings at any time and receive daily interest payments via the Flexible Savings Plan, allowing them to withdraw their money. People are able to save money in US dollars for a predetermined amount of time via the Fixed Savings Plan, which allows them to receive larger returns on their investments.
It’s no secret that millions of smart savers around the world keep their money in US dollars. The dollar is one of the strongest currencies in the world and is used as a unit of value in both centralised and decentralised finance.
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Investors in most nations are vulnerable to the depreciation of their native currency, but with Quidax’s Dollar Savings product, customers may hedge against this risk. People in nations where the currency is falling in value due to inflation may now protect their savings by keeping them in the most stable currency in the world, the US dollar.
Quidax Gained more Audience with Big Brother Naija
As a sponsor for the seventh season of Big Brother Naija, Quidax transformed its standard 30-second TV commercial into a QR code that floated in the air alongside its advertisement during the broadcast. As a direct result of this, Quidax’s website was bombarded with over 2.4 million visits coming from over 25 different countries, causing it to become inaccessible for a few minutes. After putting up an ad with a QR code on Big Brother Naija, Africa’s most popular reality TV show,
The QR Code was a lot like the popular Snake game on the Nokia 3310 and the popular handheld Brick Game from the 1990s and early 2000s. Through a two-step signup process, viewers could try to win 10 million Naira and a trip for two to Dubai with all costs paid. All they had to do was scan the QR code.
Quidax says that the ad ran from September 17th to September 19th during the show’s Saturday party, Sunday eviction show, and Monday head of house games.
After the success of the campaign, the ad is said to be running again on October 1st and 2nd during the show’s Saturday night party and Sunday Eviction show.
Observations
This year, Quidax has made a number of strides toward its goal of increasing cryptocurrency use and public awareness. The company made the announcement earlier this year that Mavin Records founder and CEO Michael “Don Jazzy” Collins would serve as the company’s brand ambassador.
Furthermore, Quidax was the first cryptocurrency exchange in Africa to be listed on CoinMarketCap. CoinMarketCap is the most popular website for keeping track of the prices of crypto assets worldwide. As it is often called, CMC is often mentioned by CNBC, Bloomberg, and other major news outlets. The U.S. government and a few other governments also use its information.
The company also started a free Cryptocurrency Academy that makes it easy for anyone to learn about crypto. Over 37,000 people have taken the 10-minute course and gotten a crypto certificate from the academy.
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About Quidax
Founded in Africa, Quidax is a cryptocurrency exchange that simplifies the process of buying, selling, storing, and sending digital currency. Additionally, Quidax paves the way for fintechs to provide cryptocurrency-related services to their customers.
Since its official launch in 2018, Quidax has had over 400,000 users across more than 70 countries.