South African online marketplace now accepts bitcoin
South African online marketplace bidorbuy announced it will now accept bitcoin payments. It teamed up with bitcoin platform BitX to make this a reality, according to the press release.
Upon checkout, BitX will create a unique bitcoin wallet address and calculate the exchange rate, which will be guaranteed to stay the same for 10 minutes. The bitcoin funds will then instantly be converted to rands for sellers, according to the release.
"We believe it is important to provide our buyers and sellers with a choice of payment methods," said Jaco Jonker, CEO of bidorbuy. "Bitcoins are convenient and easy to use and although relatively new, the virtual currency has a lot of growth potential. Our partnership with BitX is an integral part of our efforts to always offer the latest, innovative solutions to our users."
"We're excited to support bidorbuy's aim to make their service accessible to more African and international customers and to be on the leading edge of innovation," said Marcus Swanepoel, CEO of BitX. "This integration is also a big milestone in terms of opening up the wider bitcoin ecosystem in Africa, and should have a strong positive effect on the broader industry."