Bingtellar is a one platform for all things crypto. We make it easier, faster and cheaper for Africans to buy and sell crypto, gift cards, and also unlock more utility with crypto like sending money.
Current Status
• In our first 7 weeks of business, We processed over $150,000 in transaction volume.
• We have over 550 active users, 3000+ on alpha launch waitlist
• We got selected to join the Celo Startup Pathway 2022 Program.
Problem or Opportunity
1. Web3/Blockchain applications need a seamless bridge between fiat and crypto to onboard users globally.
2. Access to cryptocurrency in Africa is either not secure, too complex or unreliable.
Users only route to access crypto is via Peer-to-peer and For P2P exchanges: (a). there’s a need to trust the individual seller/buyer
(b). Trades / transactions and settlements aren’t instant.
3. Cross-border transactions aren’t accessible, takes too long and are expensive. High platform fees and price spread in the existing solutions
Solution (product or service)
At Bingtellar we are building a fiatcrypto on/off ramp payment gateway and infrastructure for web3. We are a bridge between fiat and crypto so users can seamlessly onboard and access crypto powered products from different geographies with local payment methods.
And to accomplish this we are building a few products:
i. A crypto-to-fiat conversion product
ii. Gift card product
iii. Transfer - A Remittance Product
iv. APIs For developers and businesses
Business model
We offer customers a certain rate that we get on the basis of market analysis and then we get a small profit 1.5 -2% average profit per transaction.
Simplifying crypto and crypto payments for unbanked Africans means tapping into a market worth $105 Billion. If we capture a little percent of the market and process $480 million yearly volume that would give us a total revenue of $21 million (2022-2024).
