Africa's largest online marketplace accepts Bitcoin

Bidorbuy, Africa's largest online marketplace, now accepts Bitcoin payments. The website announced this on its official forum on March 1, and also posted a post explaining how to activate Bitcoin payments. All Bitcoin transactions are subject to a 2.28% transaction fee, including a value-added fee, but Bidorbuy explicitly encourages users to use Bitcoin:

  “We encourage sellers to offer Bitcoin as a payment option because it is risk-free and can gain you a large audience of new online shoppers.”

Large number of potential customers

Like eBay or Alibaba, Bidorbuy is an online platform that connects buyers and sellers. Merchants can market and sell products through the Bidorbuy website, and now they can choose to accept Bitcoin as payment for all or part of the purchase price. Bidorbuy receives more than 20 million hits per month, and with the website actively encouraging Bitcoin, it is likely to win the patronage of a large part of South African customers.

Bitcoin could become a major source of income for merchants

According to Bidorbuy, 20% of the thousands of sellers using the site rely on sales on the site as their primary source of income. This means that now that the site allows merchants to accept Bitcoin payments, cryptocurrencies are likely to become part or all of the income of these thousands of South Africans. By allowing sellers to adopt this new method, coupled with the increasing spending power of buyers, this move will have a huge positive impact on the adoption of Bitcoin in Africa.