The major crypto exchange Coindirect is launching its over-the-counter (OTC) brokerage in South Africa. As reports in the cryptocurrency news today by CoinInsider showed on Septemebr 27, the platform is designed so that it would create a vast liquidity pool by integrating with global platforms. This will allow for Bitcoin (BTC) price locks after a confirmation as well as instant processing with no fees or slippage.
The service will basically let high volume users to avoid lengthy transactions that can take over 12 hours. The CEO of the crypto exchange Coindirect Nic Haralambous added:
“During our first two years in the industry we have paid close attention to which users are driving the volume of crypto trading. Our approach is to bring cryptocurrency to as many users as possible, however, the data shows that a majority of the daily trading volume in South Africa right now comes from a very small percentage of traders.”
According to the report which is in the focus of the crypto news today, the exchange is also adding other major features to the platform – including credit card payments, instant withdrawals and higher transaction limits.
As we reported a while ago, the cryptocurrency giant Binance is also planning to roll out its OTC trading platform for Chinese yuan – which will only target the Chinese market – in October this year.
For those of you who don’t know, the crypto exchange Coindirect is a peer-to-peer platform launched in 2017 and designed to serve crypto enthusiasts in the UK, South Africa, Nigeria and Kenya. Since its launch, the exchange has seen meteoric growth and expanded its offerings to more than 23 different countries as of August 2018.
The focus of the exchange remains Africa, though. This is mainly because the company is filing a gap in the market by providing a platform that Africans can tap for convenient payments using a wide variety of altcoins.
The team behind the crypto exchange Coindirect has worked hard to create a unique platform which makes it easy for users to trade, buy and sell – or invest in crypto. With strict security measures and compliance with the international financial standards, the exchange is definitely one of the leaders in the space.
Basic Attention Token Rises 11% After Perpetual Contract Launch
“We have seen an increase in institutional participation in trading, and these professional traders seek out the most efficient ways to trade very quickly, both in terms of cost and performance.”The announcement seems to have sparked a lot of interest among the market participants in the coin especially now since the Basic Attention Token rises significantly. Despite the bullish impulse, this cryptocurrency could face a huge retracement. The TD sequential indicator is presenting two selling signals and one in the form of a green nine candlestick while the other is a sequential 13 candle. These bearish formations show that the Basic Attention token could retrace to four candlesticks before going on further in the bullish trend. A spike in the selling pressure behind this crypto around the price levels could validate the bearish outlook so BAT could even plunge to the 78.6% Fibonacci Retracement level. Breaking below the support line could start a harsh decline to the 61.7 percent or 50 percent Fibonacci retracement levels. The launch of the BAT perpetual contract only boosted the demand for this cryptocurrency. if the BAT is able to close above its recent highs, it could climb further Basic Attention Token is now ranked at #31 by market cap. Besides this altcoin, we can see that almost every coin is in the green today. The Bitcoin price news, for instance, is showing that BTC managed to rise by 3% only this afternoon and is at $10,135, again in the five-digit zone and with a stable momentum.
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Lebanese People Turn To Bitcoin To Escape Dwindling Economy
“Right now, Lebanese are interested in escaping tight restrictions on cash withdrawals and transfers. They basically want financial freedom. If you want to go around the banking system, Bitcoin is a solution.”What is also important to note is that last year, the government unveiled new tax plans - a move that led to a series of angry protests. At the time, protesters called on Lebanon's established political class to step aside, accusing the government of corruption and incompetence. The authorities in the country just spoke to the International Monetary Fund (IMF), asking them to help find a solution to manage the country's debt. Meanwhile, the Lebanese people have already considered options like Bitcoin which is why they are featured in the crypto news by Al Jazeera and many other news portals. https://twitter.com/CryptoLira/status/1214206996406243329
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