​Safcoin opens second contact centre, in East London

Safcoin, an exclusive South African cryptocurrency, has opened its second contact centre on Oxford Street, East London.

The walk-in centre offers assistance to anyone interesting in buying, trading in and learning more about Safcoin and cryptocurrency in general. Support is provided in English, isiZulu, isiXhosa, and Afrikaans.

The opening of the East London office follows the launch of Safcoin’s first contact centre at the Hartenbos Seefront Mall, in the Western Cape, in August. This centre has proved to be more than just a cryptocurrency information hub: many people have obtained help with creating email accounts, joining online banking for the first time, and accessing mobile applications.

“Our goal with Safcoin was to demystify cryptocurrency for the general public and to give South Africans exclusive access to their very own electronic currency,” says Neil Ferreira, chief executive of Safcoin. “As a developing continent, Africa was left behind in the initial cryptocurrency rush. But an even bigger problem was that few people understood the concept of cryptocurrency and were hesitant to invest. We wanted to educate the market and give them an opportunity to join the digital revolution.

“What we’ve seen in the short space of time that the Hartenbos centre has been open, is that Safcoin can help to address an even bigger need in the country, and that’s to provide the public with the basic digital tools and knowledge they need to participate in the digital world in general, and in cryptocurrency in particular.”

Beating the odds

After a successful Initial Coin Offering (ICO), which was made exclusively available to South Africans, the official Safcoin exchange started global trading on December 13 2018. On the first day, the coin’s price increased from R77 to R90, and is currently trading at just over R93.

“The market was sceptical of Safcoin during the ICO phase and we received a lot of criticism. But with 86% of ICOs either never launching and dropping rapidly in value, we’ve already beaten the odds. Safcoin has proven to be among the top emerging cryptocurrencies in Africa. We’re very pleased with how the launch went and believe South Africans can be proud that they own a coin that was developed by South Africans, for South Africans,” says Ferreira.

The Safcoin team designed and developed the entire ecosystem, including:

  • Launching the ICO for early investors;
  • Migrating the tokens sold during the ICO phase to coins;
  • Creating the blockchain used to verify transactions;
  • Developing the exclusive South African trading platform;
  • Designing a mobile app for iOS and Android; and
  • Creating a Bitcoin wallet on the Safcoin exchange that allows investors to buy, store, and trade in Safcoin and Bitcoin, and supports secure card payments for international investors.

More than just a cryptocurrency

“Safcoin is so much more than just a cryptocurrency,” says Ferreira. “Cryptocurrency trading is unknown territory for many South Africans. We want to educate them on the power of this alternative asset class and the opportunities it creates. For businesses, it means frictionless trading across borders. For individuals, it means being able to send money home without paying any transaction fees. Cryptocurrency has the potential to radically transform trade, and Safcoin is proud to help the public to become part of that revolution.”

Ferreira says future plans for Safcoin include opening a contact centre in every province in South Africa and expanding into Africa, with the ultimate goal of connecting the entire African market through online trading.

Join the revolution

To learn more about Safcoin and to purchase coins, create an account at https://www.safcoin.co.za or download the Safcoin app for Android or iOS.

Once you’ve created an account and verified your email address and phone number, you’ll be able to view and deposit funds into your wallet, which you can use to buy and sell Safcoin. You can also transfer your Bitcoins to your Safcoin wallet and use them to buy Safcoins.

Safcoin is a registered member of The Blockchain Association of Africa

An actual Black Friday deal

Subscribe for R2/mth for the first three months. Cancel anytime.

Subscribers get access to all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.

Related stories


Already a subscriber? Sign in here


Latest stories

Western Union suspends services in Mozambique’s Cabo Delgado

It is now considerably more difficult for Mozambicans in the conflict-hit province to use financial services

South Africa at the start of a Covid-19 vaccine the...

The World Health Organisation has enlisted a team of South African researchers to produce a new mRNA Covid-19 vaccine, but with no recipe to follow, it’s not an easy task

Magashule wants court to throw out state’s case against him

Former Free State premier asks the court to declare that the state's case against him contains no evidence that would lead to a successful conviction

Brakes put on foreign truck drivers

New legislation aims to protect local jobs in the transport sector amid questions as to whether SA has enough willing and skilled drivers

press releases

Loading latest Press Releases…