In the globalizing world, currency exchange is inevitable. The interactions that occur between individuals across borders tend to include financial transactions, thus the importance of currency exchange cannot be over emphasized.

The need for Exchanging currency is not limited to those international business men and women who transact internationally, but also to: a parent trying to pay the child’s fees abroad; the person who has to travel to another country in search of medical attention; those travelling for holiday; the individual who just received Western Union/Money Gram, and many others. However, as important as it is, the process of exchanging currency has been known to be a source of headaches to involved parties, especially in developing countries like Nigeria.

Nigeria’s Current Currency Exchange Process

Surprisingly, Nigeria has one of the most complex currency exchange systems in the world. As it stands today, there are at least five different identifiable platforms, each with its unique rates through which currency can be exchanged in Nigeria.

1. The official exchange rate is determined and traded by the Central Bank of Nigeria.
2. Banks within the country are able to lend to each other at a second rate.
3. International money transfer companies operate using a third rate.
4. Banks sell and buy currency to and from customers at a fourth rate.
5. Currency can be available on the black market for exchange at a fifth rate.
The Challenge

Most Nigerians who deal with foreign currencies find themselves at the mercy of exchanging at the fourth and fifth rate, either via the banks or the black market respectively. While the regulations guiding currency exchange in the country limit most individuals to these choices, increased outcry over the inconvenience attached to the currency exchange process in Nigeria has been recorded.

Convenience is key. It would be great to discover that you can exchange currencies from the comfort of your home at reasonable prices and for as much as money as you need, right?

How Kaara Has Fixed the Currency Exchange Problem

Kaara.io is an online platform that is a working solution to the problems of exchanging currency in Nigeria. By merging convenience and efficient transparency, Kaara has successfully been able to connect buyers and sellers of currency in an online market place. You are probably thinking, “that’s brilliant!” You are right.

The usual process the average Nigerian would opt for would have been to get to the bank, fill a whole lot of forms, wait for several authorization processes before the currency exchange process would be completed (which may even be limited to a specific amount as the case may be). Alternatively, one would have had to search for the black market money exchangers at their designated junctions and haggle prices (running the risk of encountering fake currency or ridiculous exchange rates). Kaara has helped make this process so much simpler, safer, and speedy.

All it takes is to visit the www.kaara.io website or download the Kaara mobile app via the App store or Google Playstore, register an account and fund your escrow secured wallet. It is as simple as that.

The platform enables users to interact with various verified currency sellers and buyers across the country, with no fear for loss of funds, using easy and transparent payment procedures, all arising from a few clicks on your phone.

Never hustle over currency exchange anymore, let Kaara connect you to the solution of your currency exchange needs.
Try Kaara today for a new and satisfying experience! Visit www.kaara.io