Altcoin News

Monero (XMR) listed for the first time on an African cryptocurrency exchange.

As Monero keeps the pace as one of the leading private crypto coins, their strides and handwork are not without reward. And the good news for all Monero enthusiasts is that the private coin has been listed in an African cryptocurrency exchange. It’s good noting that it’s the first time Monero appears in an African cryptocurrency exchange. But where exactly in Africa? South Africa.

IceCUBED-X, which is a cryptocurrency exchange in South Africa, has announced the listing of Monero on their exchange today, 26th April. Gareth Grobler, CEO, IceCUBED-X, said,

“We think Monero is currently the most suitable coin to add to the exchange, because it is fundamentally different from Bitcoin, has a real-world use case and somehow managed to stay more true to the “original idea” around which Bitcoin was created. We continuously improve on balancing our users’ needs with a safe and secure trading environment, and the addition of XMR has been on our roadmap for a while now and we are keen to see the market response”

The addition of Monero to the African cryptocurrency exchange means that traders who already have an account with the exchange can immediately start trading Monero. Monero starts trading on two markets; XMR/ZAR and XMR/BTC. The XMR/BTC market will start trading from tomorrow 27th April while the XMR/ZAR market will be live by 01/05/2018.

Traders on the XMR/BTC market will be exempted from paying trading fees although the free trading will end on 31st may.

The African cryptocurrency exchange is expanding its listed crypto coin base which currently has 7 coins and the exchange has a total of 14 markets.

The team at iceCUBED-X also noted that Monero is “a suitable addition to the exchange due to its unique architecture, buzzing community and most importantly, a well-resourced development model.”

Also, the renewed bullish movement in the crypto market, Monero has not been left behind and has-been keeping up with the pace. On mining, Monero developed mechanisms that would make it hard for crypto miners to mine the coin using ASICs.

Its listing on the South African cryptocurrency exchange is just the culmination of the handwork that the development team behind Monero has been putting towards the success of the private coin.

With the listing of Monero for the first time in an African crypto exchange, do you think Monero is now well positioned to appear on more crypto exchanges in the African continent?

Let us know your thoughts in the comments section below,

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coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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