Safcoin is an exclusive African cryptocurrency that aims to make digital currency investment easy and understandable for everyone on the continent. Photo: Supplied

JOHANNESBURG - Safcoin, a cryptocurrency aimed at the African market has been launched in South Africa. 

The digital currency is the brainchild of Pretoria brothers, Neil and Tony Ferreira.

Neil Fereirra, chief executive of Safcoin said the introduction of an African cryptocurrency meant that it was the perfect time for Africans to enter the market.

“We predict that once Safcoin is open for trading on the exchange, the increased token volume and spike in demand for Safcoin will have a positive influence on their value,” said Fereirra.

The company has allocated 500 000 Initial Coin Offering (ICO) tokens available for purchase during the exclusive South African pre-sales stage, which was launched in July.

All investors will need a digital wallet, known as a blockchain wallet, to store their Safcoin tokens. 

When you buy a Safcoin token, you will be issued a referral link, which you can share with others. If someone purchases tokens using your unique link, you will earn 5 percent commission, which can be used towards purchasing more tokens. 

So, for every 20 tokens sold using your referral link, you will receive one token in commission.

“After the 500 000 ICO tokens have been purchased, which is anticipated by 31 October 2018, we will launch our own Safcoin trading exchange where investors can start trading,” said Ferreirra.

Follow Business Report on Instagram here