South African cryptocurrency exchange ICE3X has launched ether and litecoin trading on its platform for the Nigerian market. The new cryptocurrency trading options are in line with the ICE3X’s strategy to offer an innovative solution for the African bitcoin exchange ecosystem. For Nigerian traders, this means they can now buy bitcoin, litecoin, and ether using Naira on the exchange.
Introducing new digital currencies to the exchange
Ether is a decentralised cryptocurrency that powers the Ethereum smart contract platform. Gareth Grobler, the founder of ICE3X is confident about the relevance of ether currency to traders, he says, “The two-year old system has picked up backing from both tech geeks and big corporate names like JPMorgan Chase and Microsoft, which are excited about Ethereum’s goal of providing not only a digital currency but also a new type of global computing network, which generally requires Ether to use.”
Likewise, litecoin has seen steady adoption among developers, merchants and traders. The altcoin, which is bitcoin’s closest competitor can be generated by GPU’s and has faster transactions. ICE3X has retained its core vision which is providing digital currency solutions to global challenges and developing new ways to transact online. The exchange keeps on improving its platform through innovative applications that promote fair trading practices for those exchanging cryptocurrencies. In addition, traders can enjoy some of the lowest fees in the market as well as free deposits.
Once a trader has signed up on ICE3X for an account, he or she can make fiat currency deposits using bank transfers. Deposits and withdrawals are processed within a day. Also, the platform has sophisticated security systems with coins being held offline in cold storage thus eliminating the possibility of getting hacked.
ICE3X has gone further to partner with Africa’s leading payment processor, VoguePay, to give people exchanging the Naira access to cryptocurrency. The partnership will zero in on online retailers who are struggling to combat rising cases of credit card fraud in Nigeria. VoguePay is looking to explore blockchain technology to increase its payment processing capabilities and the partnership is a positive step in that direction.
Geoffrey Weli Wosu, the Marketing Director of VoguePay strongly feels that alternative trading options are necessary to improve Africa’s financial landscape. Hopefully, the partnership between the two African companies will open the window for more collaborations between bitcoin startups and corporate players.
For now, ICE3X can take pride in being the first exchange to allow ethereum and litecoin trading in Nigeria.
“The addition of altcoins such as Litecoin and Ethereum to the exchange creates new oppotunity in Nigeria, as the liquidity increases so does the utility, many developers in Nigeria are already working on Ethereum apps,” ICE3X founder Grobler told BitcoinAfrica.io.“We would like to grow the internet currency market in Nigeria, leveling the playing field for importers and investors, by offering an alternate means to account for their assets”, he added.
If you want to start trading bitcoin, litecoin, or ether using local currency in Nigeria or South Africa sign up to ICE3X and get started!