Today, on June 4, 2018, the digital asset exchange ChainEx has officially launched their new trading platform. The South African-based project allows traders to use the platform without fees for the first two weeks of operation.
After the fee-free trading period, a flat rate of 0.25% will be charged for all buy and sell orders, regardless of the volume traded.
Upon the exchange going online, users are able to buy or sell from 30 different cryptocurrencies. ChainEx caters to the South African market but trading services are available globally, supporting users in more than 200 countries.
The major cryptocurrencies like BTC, ETH, LTC, and XMR are supported, but some of the lesser known coins that the exchange also supports include Blocktix, Zilliqa, Civic, and Particl to name a few. The full list of coins can be seen on their BitcoinTalk thread.
Besides the support for the listed cryptocurrencies, South Africans will be able to use ZAR (South African Rand) using EFT for depositing without hassle.
Cryptocurrency is especially in demand in the regions of hyperinflation, political instability, or any other factor that would cause the people to lose faith in their national currency. Zimbabwe is one of the many South African countries that will benefit greatly from the launch of this exchange, as it will be the only platform for South Africans to trade cryptocurrency at this time.
The platform’s objective is to provide a world-class trading experience that is secure, user-friendly, and reliable. A well-tested and highly scalable matching engine provides a smooth trading experience, even under periods of heavy volume.
Besides offering an excellent trading platform for users all over the world, ChainEx has also integrated a global chat system that allows traders to talk with one another.
The chatting occurs all in the browser letting users get a feel for what markets may be hot or discuss trading strategies. The ChainEx team are also active within the chat, acting as support and moderators. Only logged in users are able to send messages, which helps prevent trolls from spamming the chats.
ChainEx is also secure, with assets being held in cold storage, behind strict firewalls and monitored by a team of security experts. As cryptocurrency becomes more popular, exchanges are increasingly a target of hackers and having funds stolen.
ChainEx has a presence of numerous social networks, giving users ample opportunity to stay updated on the latest news from the project.