“Gee, what’s up? I have 0.4 bitcoin ready for market. Got any interested clients? ”
“Eeyahh! I just outsourced same request from a client to another friend since I couldn’t meet up with the demand. So far you agree to my 5% commission, I’ll get you a buyer within a week”
That’s the typical conversation on the lips of millenials in the country with the 6th largest crypto-currency transactions globally- Nigeria! Evidently, PayPal and other global payment platforms have failed us, justifying the great reliance on cryptocurrencies for transnational trade. But, lots of difficulties are faced in disposing off cryptos, ranging from high middle-men commissions, delays in getting buyers, high incidence of fraudsters who pose as buyers (the middle-man up there was once defrauded of 70k), amongst other difficulties.
Lucky us, the much awaited respite/succor is here: KuBitX! It is a digital currency trading platform focused primarily on creating a virtual ‘Stock Exchange Market’ where buyers and sellers of crypto-currencies trade can meet. To outshine its competitors-LocalCoinSwap, LightBitAtom, BINKD- the platform aims to obliterate language barriers with a support for 5 languages.
Encouragingly, it seeks to spear-head massive cryptocurrency awareness in Africa by providing grass root education through country ambassadors.
Pioneered by 17 professionals drawn from across top Fortune 500 companies and the “Big Four” consulting firms, it is registered in Malta and offers its services exclusively to Nigerians and Kenyans at present, with an aim to expand to other flagship African countries including South Africa, Zimbabwe, Ghana, Angola and Uganda.
Trading takes place on the platform primarily through the use of KubitX tokens -KBX, with options to convert popular cryptocurrencies to tokens, or purchase them straight up. KBX public sale round starts by 20th November and ends 19th December, 2018 with tokens to be sold for 8,909.09 per Ethereum, with a bonus of 10% on token purchases. Users are obligated to remit 0.05% as trading fees – 8 times cheaper than the average charge of 0.2% by existing ICO’s- with all other cryptocurrencies, while trading fees payment in KBX attracts a discount of 25% on original trading charges. The juiciest part is that the platform offers crypto-to- fiat currency exchanges. This way, users in need of hard cash get to withdraw directly from their bank account with a charge of 2.5% as processing fee.
KuBitX will among other things, regulate trading activities on the exchange to clip the wings of “whales” that manipulate trading prices against the interests of minions, prioritize provision of responsive customer support, provide trainings for users to guarantee seamless integration with the overall framework of the exchange. For security, all user data is encrypted before being inserted into the database, third-party code verification and penetration testing functionality amongst other layers of protection.
Call it a mobile bureau-de-change and you’ve hit the bull’s eye! But don’t miss your chance on this once-a-lifetime opportunity, the KubitX team is eagerly waiting to see you as a project’s part!
By Sharomi Ridwan, Content Writer at DigiLaw