The Nigerian cryptocurrency and gift card exchange platform Prestmit has upgraded its payment system to full automation, allowing users to buy or sell gift cards and bitcoin with a guaranteed 5-minute settlement. The CEO confirmed that the platform now handles over 1,000 daily transactions and aims to scale further.
Automated Payments & Trust-Based Growth
Prestmit’s core differentiator is 5-minute instant clearance. By integrating with financial institutions, the platform triggers automatic transfers upon user request, eliminating manual processing. Speaking at the launch event in Lagos, the CEO stated: “We have observed that the best way to grow the business is in one word — trust. Over the past two years, we built a large customer base on WhatsApp and Telegram. With the automated platform, it can only get better.”
The trust strategy has paid off: Prestmit enables users to sell gift cards for local currency or bitcoin, buy gift cards with bitcoin, and also offers airtime top-up and cable TV bill payments, acting as a one-stop digital financial hub.
Seizing Nigeria’s Market Opportunity
Nigeria ranks among the highest in global cryptocurrency adoption, and gift card trading is widespread. Prestmit bridges the gap by combining both asset classes on a single platform, eliminating the friction of switching between apps. The company highlights that automation solves the common pain points of delayed settlements and lack of trust inherent in manual or escrow-based systems.
For bitcoin users, the platform offers instant conversion to naira, with proceeds credited automatically. This feature particularly benefits merchants and individuals who need quick liquidity.
Future Outlook
The Prestmit team vows to continue challenging industry norms and rolling out tailored innovations. “Our goal is to make life easier for bitcoin and gift card traders in Nigeria,” the CEO said. Given the platform’s growth trajectory and robust automation infrastructure, analysts predict Prestmit could soon dominate Nigeria’s gift card and bitcoin market.
Disclaimer: This article is based on a press release. Readers are advised to conduct their own due diligence before using any service mentioned.