Nigerian Startup Cuts Crypto Scams With Link-Based Trading

Harvey Anafuwe lost money to cryptocurrency scammers, and he wasn't alone. That painful experience inspired him to build something that could protect millions of others across Africa from the same fate.

Anafuwe and co-founder Alex Amatobi launched Vyre Africa in 2025 to tackle a massive problem. While sub-Saharan Africa processed $205 billion in crypto transactions between 2024 and 2025, an estimated $17 billion was stolen through scams and fraud during that period.

Vyre Africa works differently than traditional peer-to-peer crypto platforms. Instead of requiring both parties to create accounts and manually confirm trades, the system generates shareable links that anyone can use to complete a transaction instantly.

Here's how it protects users: when someone creates a buy or sell order, their funds get locked in a secure wallet. The system automatically releases those funds only when all transaction conditions are met, with no room for human manipulation or deception.

A trader in Lagos can create a link to sell USDC cryptocurrency for Nigerian naira. They can share that link with anyone, anywhere, and the recipient completes the trade by clicking, entering their payment details, and receiving money directly into their bank account. No chatting, no trust required, no opportunity for scams.

The platform currently supports trades across six African countries including Nigeria, Ghana, Kenya, Tanzania, South Africa, and Egypt. Vyre also built a remittance feature that converts stablecoins like USDC into local currency across 45 countries in Africa, Europe, and parts of Asia.

The Ripple Effect

By removing the trust barrier from crypto trading, Vyre Africa opens digital currency access to people who previously avoided it due to scam fears. The link-based system means even people without Vyre accounts can safely trade, expanding financial inclusion beyond the platform's registered users.

The startup charges fees only to users who create orders, not to the anonymous traders who respond. This approach removes another barrier for newcomers exploring cryptocurrency for the first time.

Vyre conducted its pre-launch in September 2025, testing cross-border remittances and wallet transfers before activating peer-to-peer trading. The platform now processes instant transfers between Vyre users using just an email address, with zero transaction fees.

For millions of Africans who've watched crypto's potential from the sidelines, afraid of losing their hard-earned money to faceless scammers, Vyre Africa offers something precious: a way to participate safely in the digital economy.