The application under consideration is a no-cost tool facilitating communication and Bitcoin transactions among users. It integrates messenger, wallet, and online marketplace features, with a primary focus on regions in the southern hemisphere.
How to Register for the Application
To join the P2P exchange platform, users can download the app on Android or iOS devices. Following installation, they’ll be prompted to provide an email address and create a password. A verification code will be sent, followed by the setup of a username. Upon registration, users are required to agree to the privacy terms, which may be perceived as overly intrusive by some, as they involve data collection and transmission to third-party service providers for security and fraud prevention purposes.
Functionality of the Application
In order to engage in Bitcoin transactions, users must undergo verification procedures. Level 1 phone verification allows for purchases of up to $700 worth of Bitcoin daily, with a lifetime exchange and send limit of $10,000. By completing level 2 email verification, these limits increase to $50,000. Identity verification becomes accessible following completion of telephone and email verification.
The application facilitates messaging between users, Bitcoin exchanges, and customization of prices and preferred payment methods. Additionally, it provides a custodial wallet for secure storage of Bitcoin, with the option to transfer funds to external wallets for a fee. Transactions on the platform are safeguarded by an escrow system.
Various payment methods are supported, including Amazon gift cards, bank transfers, credit/debit cards, mobile money services like Mpesa, and online wallets such as PayPal and Venmo.
Wallet Usage and Trading
The platform offers its own wallet, though it is advised to retain only the amount intended for trading within the platform. Excess earnings should be stored in a self-guarded wallet, such as BlueWallet, Samurai, or Muun, for enhanced security.
Bitcoin exchange rates on the platform are determined by sellers, varying based on factors such as verification status, payment method, currency pair, and order size. Upon selling Bitcoin, an escrow amount is deducted from the user’s wallet, with the platform receiving the escrow fee upon successful completion of the transaction. In case of an incomplete exchange, the amount is refunded to the seller, with no fees charged by the platform.
Supported Countries
The peer-to-peer exchange service is accessible worldwide, excluding users from certain countries. Restrictions apply to individuals from Cuba, Iran, North Korea, Russia, Syria, the UK, Canada, Japan, the USA, and the United Arab Emirates.