Africhange is an online money exchange service specializing in enabling currency conversions and money transfers between North America and Africa. It was founded in Edmonton, Alberta, Canada in 2020. Africhange currently services 7 different currencies.<\/p>
Due to the fact that it uses blockchain as part of its transfer process, Africhange\u2019s exchange rates are relatively competitive. Your Canadian dollars will be exchanged into Bitcoin, before the Bitcoin is then changed into the local currency of your intended transfer destination.<\/p>
It is worth keeping in mind that Africhange\u2019s money transfer service adds a margin on top of the mid-market exchange rate<\/a> for international transfers. Therefore, is it best to compare the displayed rate on Africhange with the current interbank rate to work out the size of this margin.<\/p> We\u2019ve gathered a selection of Africhange exchange amounts for some popular destinations. These exchanges assume you\u2019re sending $1,000 CAD, which will be deposited at your recipient\u2019s bank account.<\/p>Example Africhange rate markups<\/h4>
| Destination country<\/th> | Africhange exchange amount*<\/th> | Mid-market exchange amount*<\/th> | Estimated Africhange rate markup\u2020<\/sup><\/th>| Africhange transfer speed<\/th><\/tr><\/thead> | Ghana<\/strong><\/td> | 8,800.00 GHS<\/td> | 9,051.2737 GHS<\/td> | 2.78%<\/td> | 20 minutes<\/td><\/tr> | Kenya<\/strong><\/td> | 115,000.00 KES<\/td> | 117,497.75 KES<\/td> | 2.13%<\/td> | 20 minutes<\/td><\/tr> | USA<\/strong><\/td> | 748.70 USD<\/td> | 753.26763 USD<\/td> | 0.61%<\/td> | 20 minutes<\/td><\/tr><\/tbody><\/table> | Exchange amounts were collected on December 22, 2023<\/small><\/p> |
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