Bitcoin is a form of digital currency that is changing the way that people are transacting worldwide. According to BitX, a bitcoin exchange company, South African users of the digital currency can now purchase airtime and data bundles.
BitX is a company that was founded in 2013 and has offices in Cape Town and Jakarta. The new option on offer from the company lets customers choose from MTN, Cell C, Vodacom, Virgin Mobile and Telkom.
The facility is currently exclusively available via the BitX website. Functionality will soon be added to Android and iOS apps soon. BitX product advisor Simon Dingle says: “We’re proud to provide mobile data packages as part of this announcement; however, as many services only sell airtime, but we know that our users spend more time using the internet on their smart devices than anything else.”
Why use Bitcoin?
Bitcoin can be stored offline and securely and it can be easily converted to other currencies. It can also be used for making global payments. The current bitcoin exchange rate is 1BTC= USD 262 (R3190). This gives South Africans a simple alternative to using normal cash for their transactions. Eventually, it is hoped that the use of more Bitcoin may force local mobile operators to lower their tariffs. BitX offers merchant services which enable businesses to accept bitcoin without exposing themselves to the volatility in exchange rates. BitX provides a flexible API, so developers can build bitcoin into their own apps and services. Dingle has also expressed a positive outlook about the cryptocurrency’s use in the South African market.