Dash trading pairs have been added to eBitcoinics, significantly advancing Dash’s adoption prospects in Africa.
Based in Ghana, eBitcoinics is a cryptocurrency exchange serving several African countries, offering trading pairs for several major cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin, as well as several minor coins such as SmartCash and Global Reserve Currency. Dash’s addition to this lineup was announced this week:
“With news of Dash been accepted in selected shops all over the country Ghana and Nigeria, where you can buy goods and pay with Dash. You also book for a hotel accommodation and pay with Dash at selected hotels in Accra, Tema, Tamale and spread all over Ghana.
Today we to announce to you that Dash (DASH) will be listed on the number one Cryptocurrency Exchange platform in Ghana and Nigeria eBitcoinics.com”
eBitcoinics currently offers trading pairs for the Ghanaian cedi and the Nigerian naira with a variety of payment options, including bank transfer, PayPal, and mobile money. The exchange is the top cryptocurrency exchange for Ghana and Nigeria, and an important and growing service in the region.
Integration solves a key liquidity problem in Ghana
The addition of Dash to the eBitcoinics platform fills an important liquidity need in the region, for Ghana in particular. Local demand in Ghana for purchasing Dash has far exceeded the available supply, stunting adoption efforts in the region. According to Dash African lead ambassador Mahamadu Abdul Salam, this problem will be greatly lessened with the new integration:
“This means a big win for Dash adoption in Ghana, the long awaited solution to Dash liquidity in the country is solved now and people can buy and sell/swap fiat and fiat for Dash freely and easily on eBitcoinics. The exchange is by far the number one cryptocurrency exchange not only in Ghana but Nigeria as well with multiple means of payment in a buying order such as mobile money, Bank payments and PayPal.”
Ghana stands as one of the areas in Africa with the strongest Dash adoption. At present, DiscoverDash lists nine businesses in the country that accept Dash, most in the northern Tamale area or in the capital of Accra. Solving the liquidity issue promises to streamline adoption efforts.
Funds for the integration were crowdfunded by the Dash community
The integration into the eBitcoinics exchange was funded by Dash itself. However, unlike many integrations funded by either treasury proposal or through the Core team’s business development department, this was crowdfunded by the community. Abdul Salam sees this as a fast and efficient way of raising funds without having to go through more established channels:
“The crowdfunding of the integration fee outside the treasury is by far the fastest and easier way of raising funds within the Dash community by my experience. It tells me the Dash community is committed to championing causes that promote global adoption. In an overnight after the Dash community angel investors got back from holidays, 13 Dash was raised to make the integration happen. This is beautiful and reinforces that the Dash community aside its treasury systems have workable systems in place to make things that matter most to the network happen such as this.”
At the time of writing, the Dash price is around $250, yielding approximately $1.5 million monthly from the treasury. This is down from around $10 million at the end of last year, resulting in tighter budgets and more exploration of alternative funding methods.
Posted by Joël Valenzuela.