Coindirect’s integrated offering set to Revolutionise the Crypto Ecosystem

South Africa, 19th July 2018 - South African crypto exchange, Coindirect, has announced its plan to revolutionise the cryptocurrency ecosystem and accelerate its adoption to the “other” 1.3-billion in the unnoticed African market.

Coindirect has released an end-to-end offering featuring a peer-to-peer marketplace enabling locals to buy, sell and trade ETH, USDT, XRP, LTC, DASH, BCH and BTC without converting. “There is an exciting opportunity to put an open access, secure and private decentralised financial system in the hands of emerging African economies. We believe that cryptocurrency has the potential to revolutionise the way Africans bank, and the launch of our integrated offering is our first step in doing so,” says Chief Product Officer at Coindirect, Stephen Young.

Barriers to the growth of the crypto ecosystem in Africa

There is a lack of banking integration and credit card penetration in many African and emerging markets. In turn, options to buy or sell Bitcoin, Ethereum, Tether, Ripple, Litecoin, Dash and Bitcoin Cash using local payment methods are limited, with P2P markets only supporting BTC.

In addition, with the presence of poverty in the third world continent, the other 1.3-billion cannot rely on remittance due to the instability of fiat currencies and high conversion fees. However, Coindirect’s fresh solution backs altcoins like USDT which is tied to the US Dollar and can be used in remittance to avoid paying exorbitant cross-border charges brought by fiat transfers.

Changes to the African crypto landscape

Whilst players like Binance and Localbitcoins offer the functionality utilised by Coindirect, what differentiates Coindirect from its competitors is that all under one single website it features an end-to-end integrated offering:
1. A peer-to-peer marketplace to make direct transactions at 0% fees;
2. An exchange which includes BTC, USDT and local ZAR trading pairs;
3. A wallet that supports over 40 coins and altcoins;
4. A comprehensive API for complete integration into the wallet, exchange or peer-to-peer.

Filling these gaps in 25 countries, including South Africa, Nigeria, Kenya, Ghana, United Kingdom, Canada, Australia, New Zealand, Singapore, Saudi Arabia, Malaysia, India, Pakistan and United Arab Emirates, Coindirect plans to launch in 10 more markets. Truly great news for crypto holders who can now buy and sell directly to local buyers and sellers using their preferred local payment method without incurring conversion fees. Coindirect’s wallet can then be used to buy, sell, send and receive over 40 coins; while traders can opt to trade 15 ZAR, USDT and BTC pairs on the exchange.

About Coindirect

Coindirect is a global digital currency service provider that helps anyone buy, sell, send and receive cryptocurrencies anytime, anywhere. The platform allows customers with any level of experience to safely purchase, store and trade over 40 crypto-assets, in their local currency.

Coindirect is live in over 20 countries with more coins, banking relationships and countries being added each month.Coindirect launched late in 2017 and currently has over 25 000 registrations and over 5 000 active traders.

Coindirect is registered with the Isle of Man Financial Services Authority and enforces strict AML compliance. With Coindirect’s Wallet, Exchange, Peer-to-Peer Marketplace and Comprehensive API, this end-to-end crypto trading platform gives customers complete control over where their money’s moving.

Check out the Coindirect platform.

Contact Information:
- Coindirect
- Burleigh Manor, Peel Road, Douglas, IM1 5EP, Isle of Man
- support@coindirect.com
- marketing@coindirect.com

This release was published on openPR.