Financial

SA crypto exchange targets novice traders

Read time 1min 50sec
Eugéne Etsebeth, iCE3X’s COO.
Eugéne Etsebeth, iCE3X’s COO.

Local crypto-currency exchange iCE3X is targeting novice traders as it turns six years old.

The firm has introduced the ability for South Africans to practise the buying and selling crypto-currency in a simulation on its local exchange.

The trading game will go live on iCE3X’s 6th birthday – Friday, 18 October.

The trading pairs for the game are called Bull and Bear. According to the company, free tokens can be redeemed using a voucher and trading between the pairs can start immediately, without any real money changing hands.

iCE3X has serviced South African and Nigerian customers since 2013 with access to over 20 trading pairs featuring coins like Bitcoin, Ethereum, Ripple and Monero.

iCE3X will initially offer access to the game to all registered users starting on its 6th birthday. New users need to register with an e-mail or cellphone number.

“We are excited to launch this game that demonstrates how to trade on our exchange,” says Gareth Grobler, iCE3X’s founder and CEO.

“This is a first for South Africans and opens the doors for novice traders and investors wanting to learn how to buy and sell a ‘fantasy’ trading pair. There is literally nothing to lose.”

iCE3X also provides instant gaming experiences using Bitcoin-related technology – the Lightning Network.

Eugéne Etsebeth, iCE3X’s COO, says: “We are gamifying many of the features on our platform, but through educating our users first, we hope they can take full advantage of a range of new fiat deposit and withdrawal options we are rolling out.”

The company’s objective is to offer clients the best service to buy and sell (trade) crypto-currencies and fiat pairs on an exchange by integrating with numerous business partners including a crypto-currency exchange platform provider, financial institutions, merchant services, wallets, custodial services, insurance and scratch cards in order to build an ecosystem around iCE3X’s exchange platform. 

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