According to the crypto exchange, AltCoinTrader, South Africa has six primary stock exchanges; one is AltCoinTrader. AltcoinTrader cryptocurrency exchange offers trading digital coins against South African Rand only.
The Cryptocurrency trading house, AltCoinTrader announced that it would reduce its trading fees by more than 50 percent.
They added, that their abrupt decision, which may have surprised the industry was well thought off and necessary because of the anticipated ‘heating up’ of the blockchain industry in South Africa throughout 2019.
AltCoinTrader CEO, Richard de Sousa stated:
We are seeing new players enter the fray almost on a monthly basis, this is, of course, good for the industry – but we need to ensure we remain top of mind for cryptocurrency traders, and this is a move that we believe will be welcomed by enthusiasts across the country.
According to the administration of the crypto exchange, the six crypto exchange houses in South Africa, are where crypto investors and supporters can trade cryptocurrencies, like Bitcoin and Ethereum. By decreasing their trading fees on all trades from 0.8 percent to o.375 percent, AltCoinTrader aspires to move into the second position in the context of affordability.
AltCoinTrader stated that they intend to move to the top and retain the position as the leading crypto trader in South Africa. In South Africa, where the cryptocurrency industry is growing by leaps and bounds (at least $6.5 million worth of cryptocurrency is traded daily) having a solid customer base would be highly beneficial. So, by moving down their trading fee to 0.35 percent, and by reducing deposit and withdrawal fees by 50 percent, they are planning to do just that.
AltCoinTrader does not support fiat currencies, like USD, EUR, GBP, or inter-cryptocurrency trading. The full list of trading instruments offered by them is BTC/ZAR, LTC/ZAR, ETH/ZAR, BCC/ZAR, XPR/ZAR, NMC/ZAR, DASH/ZAR, and ZEC/ZAR.
AltcoinTrader has a very simple and easy to use the web-based platform and has a functional order book, trade history window, and basic charting but it is not mobile-friendly.
AltcoinTradertrading platform is not for people interested in the less established cryptocurrencies like 1World Coin, Taler Coin, Woodcoin, Neutron Coin or Zennies Coin. If customers deposit directly on Bitcoins or other digital coins supported by AltcoinTrader, it is free of charge; however, withdrawals are not.