By cutting the time and costs associated with conventional banking and remittance systems, the crypto-powered remittance platform Afriex has taken on the task of resolving issues with offshore transactions.
Afriex essentially accepts a deposit in fiat money and converts it to a stablecoin, such as USDT. The beneficiary's bank account is then credited after selling the USDT at a greater rate in their own currency.
At the moment, Afriex is only active in Nigeria, Ghana, Kenya, the United States, and Canada. That's clever, huh?
Afriex gives its users usernames, much as CashApp and Bitsika do. You may also have your balances in one of five alternative currencies: British Pounds, Ghana Cedis, Kenya Shillings, and Nigerian Naira.
The transaction itself is free since a margin is made when translating the stablecoin to the beneficiary's native currency.
How to join up or register on Afriex
The registration procedure is most likely the easiest I've ever encountered. In order to start sending money right away, you may simply join up using your Gmail login.
You may also choose to proceed normally by doing the following actions:
- Install Afriex on your iOS or Android device.
- Start the app.
- selecting Create New Account
- Establish a username and password.
- Type your phone number here.
- Your phone will get an OTP; reply with it to continue.
- Confirm
Since Afriex complies with PCI standards, this convenience has no impact on the app's security. For all users, there is multi-stage verification. Your login information, password, and other transactional information are not visible to other parties.
How to Transfer Funds on Afriex
On Afriex, you have a variety of sending alternatives; all you need to do is choose the one that best fits the transaction you want to complete. Therefore, Afriex can help you transfer money from the US or Canada to Nigeria, Kenya, Ghana, or even the other way around. Here, you can see how it functions based on your available options:
Transmit to Bank Account
In the supported nations, you may transfer money straight to your beneficiary's local bank account. An example of this is a direct bank deposit. The recipient account often receives this within minutes.
Here is a step-by-step tutorial on how to use Afriex to submit a direct bank deposit. There is no need that your recipient has an Afriex account:
- Choose Transfer
- Select the source balance that will be charged.
- Put the figure in.
- Decide on Send to Bank.
- Specify the beneficiary's bank here.
- Enter the beneficiary's bank information.
- Select "Continue"
- Review the transfer's specifics, then go forward.
Send to some User
Additionally, you may transfer Afriex to other Afriex users in Nigeria or any other nation. This procedure is also quite easy to follow.
To transfer money to another Afriex user, follow these steps:
- Choose Transfer
- Decide on Send to Users.
- Put the figure in.
- Username search (you can also pick from your contacts list)
- Choose the appropriate beneficiary or manually input your beneficiary's username, such as $qbenqa
- Select "Continue"
- Press "Transfer"