We are positioning ourselves to revolutionize the way Africa discovers, purchases and uses Cryptocurrency and Blockchain assets. Cryset is looking to bring Cryptocurrency and Blockchain assets closer to Africa.
2. Problem Statement
What problems are Cryset trying to Solve for its Customers
Exchange Use
Exchange of
Cryptocurrencies
It is very difficult to exchange
Cryptocurrencies other than Bitcoins in
Nigeria.
There is no platform that exchanges a
broad range of Cryptocurrencies.
This makes accessibility to
Cryptocurrencies very low. The only
way to acquire these coins is to go
through a exchange, this is very
inefficient if you consider the fees.
Remittance of
Cryptocurrencies
For those who have these
Cryptocurrencies, it is almost
impossible to find a usecase for it
other than as an investment tool.
99% of shops and online platforms
don't accept Cryptocurrencies as a
means of payment for goods and
services offered. This makes
Cryptocurrencies grossly un-
spendable.
3. Our Simple Solution
API/ SCI for Ecommerce
shopping
We are also developing a tool that would
enable holders of Cryptocurrencies shop
online and pay with Cryptocurrencies
directly. The beauty of the platform is
that the merchant can decide to get
remitted in local currencies or
Cryptocurrencies.
This solution would enable merchants
accept Cryptocurrencies as payment for
goods and services.
Multi-Cryptocurrency
Trading Platform
We are Building a platform that would
enable people exchange a broader
range Cryptocurrencies for local
currencies very easily. The platform
would also enable micro quantity
exchanges to as low as $1 in some
cases.
This solution would enable people to
have easier access to Cryptocurrencies
in Nigeria
Cryset is building 2 amazing services that would solve those problems easily
4. Secret Sauce
We are able to give our customers this capabilities because we have found a way of integrating 3 very important
processes End to End to provide an easy and effective service
Trading Platform
Our trading platform
provides the necessary
liquidity to keep this project
running, both in local
currencies and
Cryptocurrencies. it is a
very important piece to
ensure sustainability.
Crypto Inventory
We are holding reserves of
various Cryptocurrencies in
different secure online /offline
wallets. This gives us the
flexibility of micropayment
capabilities and lower multi-
CryptocurrencIes transaction
fees.
Technology
We are developing a piece
of proprietary software
technology that would
enable this end to end
processes and automate
the tranasctions.
5. How we would make Money
โข Cryset would take a 3-5%
commission when someone buys
Cryptocurrencies from us
โข Cryset would take a 3-5%
commission when someone sells
Cryptocurrencies to us.
โข Cryset would add a 3-5% fee for
using our online payment channel
to buy goods/ services from an
Ecommerce business.
โข Cryset would enable people buy
daily commodities like internet data
bundles and Airtime using
Cryptocurrencies directly from the
platform.
Commissions on
Exchanging
Cryptocurrencies
Fees for using our
payment portal for
online payments
Sales of some
commodities in
exchange for crypto
6. Market Size
$90
Million
$1.4
Billion
$172
Billion
Total volume of Bitcoin traded in
Nigeria on local Bitcoins
Jan 1 โ Till date
Total volume of Bitcoin traded
globally on Local Bitcoins
Jan 1 โ Till date
Total Cryptocurrency Market Capital
Bitcoin accounts for 75% of cryptocurrency trades in Nigeria.75%
The Nigerian Ecommerce market is a $13 Billion business.
Nigerians spend over $680 million on Airtime Monthly.
7. Market Opportunity
The Nigerian government is moving to legalize Cryptocurrencies and Blockchain technology.
Source https://goo.gl/oZ2xL5
81%
Smartphones180m
POPULATION
47.7%
Internet users
According to Google trends,
Nigeria is the hottest cryptocurrency spot in Africa.
Nigeria has the largest number of Cryptocurrency
Wallet installs in Africa.
9. Market Potential
0%
200%
400%
600%
800%
1000%
1200%
2017 2018 2019 2020 2021 2022 2023 2024 2025
Payments Store of value
Data showing the projected use of Cryptocurrencies in the coming years. Source https://goo.gl/ctpg65
(%)
Cryptocurrencies biggest opportunity is in the payment market.
10. Outdoor
Meetings
Media
Marketing
Referral
Marketing
Strategic
Partnerships
Go to Market plan
Cryset would be seeking
strategic partnerships with
cryptocurrency startups and
ecommerce businesses. This
will help building the brand.
Cryset would be engaging its
customers on social media,
email marketing and
through various online
marketing campaigns.
Cryset would be using
referral marketing to get
people to do our
marketing and customer
acquisition.
Cryset would be going out to
meet its customers, we would
be talking to people about our
platform and about
Cryptocurrency.
12. Multi-Cryptocurrency
Our platform will give users the
capability of exchanging more
types Cryptocurrencies for local
currencies
Ease to exchange
Our platform removes the
hassles of exchanging
Cryptocurrencies
Lower Commissions
Average fees of 3- 5%
Flexibility
With our Payment channel
merchants can decide whether
to be remitted in local currency
or Cryptocurrency
Micropayment capabilities
Our platform would enable people
exchange Cryptocurrencies as low as
$1 to local currencies .
Competitive Advantages
13. Key Metrics
This data is based on Cryset exchanging local currencies for Cryptocurrencies, gotten during our proof of concept.
Re-order rate
8.2%
Customer Acquisition cost
$4.28
Average order size
$65
Customer Lifetime value
$66.372
Gross Margin
4.5%
Conversion rate
3%
Gross sales
N613,000
Monthly Operational OH
N 65,000
14. Achievements so far
Successful Proof of concept
Acquired key customer metrics
from our market research
Over N600,000 in revenue with
no marketing budget in a 6
weeks run.
Website 80% completed
15. Our services
What we do
Buy Cryptocurrencies
Sell Cryptocurrencies
Pay for goods/services bought
online with Cryptocurrencies
Buy data and Airtime with
Cryptocurrencies
02
01
03
04
16. Roadmap
Where we are and where we are headed
2Go To Market,
getting strategic
partnerships to
help us scale
and securing
seed
investments
Next is launching the project to the open
market, we would be seeking some
strategic partnerships to enable us scale,
we would also be raising some seed
investments for the Project.
NOV 21- MARCH 1
1Development
of the
platform and
ensuring the
software is
fully ready to
go to market.
This stage would be the developmental
stages of the project, we would work on
developing the technology and ensure it
is market ready.
AUG 26- NOV 30
3Scaling the
business and
hosting an ICO
We would now need to move beyond
Nigeria to other parts of the globe, this
would require more capital, we would
then consider whether to hold an ICO or
raise more funding.
17. The Team
CEO
Ogueke
Munachimso
Experience:
๏Head of Business Development at
vasiti.comโฆ
๏ CEO, Cryset.com
๏ Social director at TESA
๏ A certification in Customer Analytics
from the University of Pennsylvania
Sulieman
Abdulmayid
Experience:
๏โฆDeveloper Space eagle, (PC game)
๏โฆTech lead KnowIT
๏โฆNetwork administrator items UI
Lead Web Developer PR and Strategy Lead
Kayode Babarinde
Experience:
๏MSC in Blockchain and
cryptocurrency applications
๏Humaniq Nigerian ambassador
๏Waves Nigerian ambassador
๏Curator Coinfest Nigeria
18. The Team
photo
Experience:
๏โฆHubble app creator
๏โฆFull stack developer
๏โฆExperienced in API infrastructure
Derin Adeniyi
Experience:
๏โฆAssistant Executive director at
ESQ Legal practice
๏โฆLegal lead with Legal Blitz NIG
๏..Legal Practitioner with Interests in
Blockchain and cryptocurrency
regulations in Nigeria
photo
Odetara Demilade
Infrastructure Architect Legal Lead
Emeka Eze
Experience:
๏ Social media engagement office r
at vasiti.com
photo
Social Media manager
19. Vision
The vision is to make Cryptocurrencies
easily accessible for people and
companies to buy, sell and to use as an
efficient and effective medium to
exchange value.
Mission
To be the pillar on which
Cryptocurrencies and Blockchain
technology can stand and add value to
the African society and the world at
large.
