Bitsika Africa crosses 100,000 users and processed more than $40 million in 16 months

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Ndaman Joshua Olayinkahttp://www.yinksmedia.com
Tech Zealot and Passionate about writing everything concerning it. I support Arsenal.

Ghanaian startup BitSika, a leading African crypto remittance service, crosses 100,000 users and processed nearly $40 million in 2020, according to BitSika CEO, Atsuh Davoh.

In 2019, the crypto startup operating out of Ghana and Nigeria 2019 processed about $1 million.

A newsletter from Bitsika sent to users and Subscribers via email stated that the Ghaninan startup today, hits a 100,000 users.

According to Founder and chief executive officer Atsu Davoh, the breakdown of all transactions from 1st January 2020 to 1st January 2021;

In terms of volume, we processed a total of $39,953,115 in 2020. This total came from an addition of $18,872,474 (in deposits) $17,890,807 (in payouts) + $3,189,834 (internal peer-to-peer transfers). These volumes are from self-determined, autonomous [successful] transactions that users initiated and performed themselves. We did NOT count system transactions that users did not initiate. Compare that to the $974,864 we processed in 2019.

For total transaction, we processed a total of 268,430 individual [successful] transactions. These numbers are from self-determined, autonomous transactions that users initiated and performed themselves. We did NOT count system transactions that users did not initiate.

Of the said successful transactions, 21,418 were internal peer-to-peer [successful] transactions. The rest are a combination of deposit and payout transactions. Compare that to the 4,832 [successful] transactions we did in 2019.

As of this morning, (3/01/2021) we have 95,509 registered users; more than 95% of these users came in 2020. In 2020, 16,507 individual users made at least one successful transaction. Over 40,000 users verified their phone numbers and almost 16,000 people verified their identity with a national ID.

The startup in its partnership with US-born Nigerian musician, Davido (David Adeleke) hopes to reach a million users using the artiste influence and popularity. With the rapid growth of Bitsika, this has actually worked for them with an impressive increase in transactions and users since the partnership was announced on October 8th.

Bitsika also referred to as Africa’s cash app in partnership with Davido – an ambassador to Infinix Nigeria has plans to pre-install its app on all infinix devices.

Also read: Paxful partners with Bitsika as a payment platform in Nigeria

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