Features Analysis
1. Multi-Currency Wallet
Who will need, or already uses some form of a multi-currency wallet that can hold, send, and
receive USD, NGN, GBP, EUR, AED, JPY, and stablecoins (USDT, USDC)?
Who needs to fund their wallet via bank transfer, debit/credit card, or P2P exchange?
Who needs a multi currency wallet that can instantly convert currencies at competitive rates?
1. Freelancers Working with International Clients. Example, freelancers located in Nigeria, Kenya, and
South Africa (17.5M) who work with clients in the USA, Europe, the Middle East, etc. Examples:
Graphic designers, software developers, writers, virtual assistants, business analysts.
Why they need a multi-currency wallet e.g OneDosh:
a. Receive Payments in USD, EUR, GBP: Their clients pay them in foreign currencies, and they need
a way to receive these payments without high fees.
b. Convert to Local Currency (NGN, KES, ZAR): They need to convert their earnings to their local
currency for daily expenses.
c. Hold Stablecoins (USDT, USDC): Some freelancers prefer to hold stablecoins as a hedge against
currency volatility or for easy transfer to family, and friends.
Example Scenario: A Nigeria based freelance graphic designer receives payments from a US client in
USD in their multicurrency wallet. They can retain the payment as USD in their multi currency wallet
or convert USD to NGN and withdraw funds to their local bank account.
Competitors Offering Multi-Currency Wallets
1. Wise (formerly TransferWise). 12.8M users worldwide
Features:
Hold, send, and receive multiple currencies (USD, EUR, GBP, etc.) (40+ currencies supported)
Competitive exchange rates compared to traditional banks.
Borderless accounts for freelancers in GBP, USD, EUR, etc on signup.
$1. million per wire transfer, with no daily or weekly limits.
Limitation:
No support for stablecoins (USDT, USDC) Wise even banned a lot of freelancers and users trading
crypto through wise to binance, bybit, etc. See Wise rules outlined on its website- Understanding
Wise's position on cryptocurrency.
Why OneDosh is Better:
OneDosh supports stablecoins which Wise does not.
Wise does not offer virtual or physical cards to users in countries like Nigeria.
2. Revolut. 50M users worldwide.
Features:
Multi-currency wallet supporting USD, EUR, GBP, and others.
Virtual and physical cards for global payments.
Competitive exchange rates.
Limitations:
Limited support for African currencies (e.g., NGN, KES, ZAR).
No support for stablecoins (USDT, USDC).
Not widely available in Africa.
Why OneDosh is Better:
OneDosh supports African currencies and stablecoins, which Revolut does not.
OneDosh is designed with the African user in mind.
3. PayPal
Features:
Excluding a number of African countries e.g. Nigeria, PayPal allows freelancers receive payments
in USD, EUR, GBP,etc.
Widely accepted by international clients.
Limitations:
High fees for currency conversion and withdrawals.
Additional waiting times when receiving payments from PayPal business accounts.
Limited support for African currencies (e.g., NGN, KES, ZAR).
No support for stablecoins (USDT, USDC).
Why OneDosh is Better:
Offers lower fees
Supports African currencies and stablecoins, which PayPal does not.
