Hong Kong based person-to-person Bitcoin platform, CoinCola has officially made its Nigerian debut. The platform aims to provide trustworthy trading and exchange services to all its users around the world with Africa being a key place of interest.
The launch comes at a time when Blockchain Technology is rapidly growing in different continents. According to CoinCola, nations and companies are gradually adopting cryptocurrency in exchange for goods and services instead of fiat.
However, the African continent seems to be lagging behind in the adoption of this upcoming technology resulting from the lack of political will to accept the risk of innovation (in Blockchain technology and cryptocurrency). This can further be perceived in the reluctance to adopt the use of cryptocurrency in day-to-day transactions.
CoinCola believes that Blockchain technology will be essential to providing secure banking and payment services in the future and also that cryptocurrency will greatly improve the convenience of daily transactions and help to create a world that is financially borderless.
“Hence, our mission is to connect everyone to this new digital asset economy,” the company said in a statement issued this week.
Coincola is an over-the-counter (OTC) cryptocurrency marketplace and exchange designed to offer the best cryptocurrency trading experience for users and also offer fast and secure trading services at competitive fees and exchange rates.
In the OTC Marketplace, the trading platform allows people around the world to use their local Fiat currency to buy and sell Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Dash (DASH), Tether (USDT) and Ripple (XRP). This is done on a person-to-person (P2P) basis. Users can post adverts for free and are only charged a trading fee of 0.7% of the traded amount once the transaction has been completed.
Fiat money is a currency without intrinsic value that has been established as money, often by government regulation.
In the exchange market, CoinCola offers Bitcoin (BTC) and Tether (USDT) as base currencies and supports crypto-to-crypto trading pairs with Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). A trading fee of 0.2% is charged for an exchanged amount. However, there is a fixed withdrawal fee.
The new feature which allows users to trade bitcoin with gift card was added recently to fulfill a highly desired request by African users. Users can now buy bitcoin in Nigeria, Ghana and everywhere else in Africa.
“At Coincola, security is of utmost priority hence there are multiple layers of security including bank-level encryption, cold storage and SSL, ensuring that customers can trade with 100% confidence,” the firm said in its statement.
A mobile app is available to enable users to transact and trade comfortably while on the move. CoinCola supports BTC, ETH, LTC, BCH, XRP, USDT, and Dash but Paxful supports only BTC.
“Security and users’ satisfaction are our priorities, therefore CoinCola provides a 24/7 full support and inquiry on their platform as well as on their Telegram channe,” the company added.
“We are going into an era where fiat will be one of the least currencies used. Blockchain technology and Cryptocurrency is gradually sipping into different sectors,” the firm said