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Africa's Currency

Whitepaper

What is Baracoin?

Baracoin is a fast, cheap and secure digital currency backed by a 1:1 reserve of Euro (€). It is complemented by Baratoken, the key tool for Baracoin’s community and Universal Loyalty Program.

For more information, read our whitepaper or contact us at info@baracoin.io.

Community Focused

Spending Baracoin at participating merchants earns you Baratoken, which can be used to avail of discounts and other offers from Baracoin Merchants, as well as access to future services provided by Baracoin, including Peer to Peer Lending, Insurance and much more.

Secure

Our network’s security features provide peace of mind whether your Baracoin is in your wallet or mid-transaction, ensuring you’re never at a loss. We also have rigorous anti-fraud measures, including providing you with a Trustworthiness score for each merchant.

Fast

Powered by Stellar, Baracoin will be amazingly fast to use, with transactions clearing in 2-5 seconds. Baracoin and Stellar are officially partnered and dedicated to bringing high quality, affordable financial services to the continent.

Transparent

As well as keeping a live record on our website of Baracoin and Euro holdings, we will publish a daily bank statement for our Baracoin account on our website and we are committed to to regular 3rd party financial audits. We will also publish summaries of our agreements with merchants and other partners.

Fair Price

There is a 0.25% transaction fee for merchants, with person to person transfers costing 0.5%, regardless of distance and location. Individuals and Businesses will be able to use their Baratoken to reduce and cap these fees.

Stable

Each Baracoin is backed 1:1 with Euro, allowing you to redeem the equivalent amount of Euro from us or any of our growing network of partners at any time, and in your preferred currency.

Benefits of Baracoin


Cost of Transfering $100 (USD)

Baracoin

 
$0.50

M-PESA

 
$2.50

Bitcoin

 
$3.00

EcoCash

 
$5.16

Local Bank

 
$10.00

Cost of $100 (USD) Remittance to Africa

Baracoin

 
$0.50

Worldremit

 
$3.77

Moneygram

 
$6.11

Western Union

 
$6.37

Transferwise

 
N/A

International Banks

 
N/A

Average Transaction Time

Baracoin

 
5-10 seconds

Bitcoin

 
10 mins

Traditional Systems

 
3 days+

How Baracoin Works

You can buy Baracoin from our Mobile application, website, or from local Bara Network Merchants and Agents.

Each Baracoin is backed by an equivlent amount of Euro, allowing your money to hold it’s value compared to other local and digital currencies.

You can send Baracoin to friends and relatives, as well as make purchases with local and international merchants, in person and online, earning and availing of offers from these merchants and ourselves in Baratoken.

You can withdraw your Baracoin back in hard currency at any time, via the above means.

How Baracoin Works

You can buy Baracoin from our Mobile application, website, or from local Bara Network Merchants and Agents.

Each Baracoin is backed by an equivlent amount of Euro, allowing your money to hold it’s value compared to other local and digital currencies.

You can send Baracoin to friends and relatives, as well as make purchases with local and international merchants, in person and online, earning and availing of offers from these merchants and ourselves in Baratoken.

You can withdraw your Baracoin back in hard currency at any time, via the above means.

Baratoken Universal Loyalty Program

Baratoken is earned when a Baracoin user makes a purchase with a Bara Network Merchant. The user receives 0.1% of the transaction value in Baratoken based on the average price of Baratoken at that moment - this is automatically calculated by our application. The Baratoken can then be used to redeem discounts, rewards and other offers from Bara Network Merchants and ourselves.

Spend Baracoin

Earn Baratoken

Redeem Baratoken for Offers and Rewards

Partners

As Seen On