Introducing Vendexchange, a new cryptocurrency trading platform for Africa and the rest of the world

Vendex is an African based cryptocurrency trading and exchange platform aimed at simplifying path to listing and trading credible indigenous African tokens/coins. Vendex is a gateway to present and future blockchain projects in Africa, with numerous other use cases.

The story and the problem

In the past two years, there has been a growing buzz around Cryptocurrencies due to the price of Bitcoin rallying constantly. People are constantly looking for ways to get their hands on these digital assets to avoid missing out on what could be the future of money. However, not a lot of people are easily able to get Bitcoin or Altcoins due to their locations and limitations in their countries, this is common especially in Africa as it is yet to adopt a high level of Cryptocurrency involvement like Europe and Asia. With this, there is a growing need for cryptocurrency exchanges and trading platforms in Africa as that gives people a way of circulating and exchanging these currencies between one another.

There are a lot of start-ups in Africa which have been developed around the cryptocurrency ecosystem, leveraging cryptocurrencies and block-chain technologies to deliver indigenous services to African businesses and consumers, some of these projects are Bitland, Bitshares, BTCGhana, Cryptogene and NairaEx. NairaEx is known as Nigeria oldest and famous bitcoin exchange for buying and selling digital currency, but this has to be done using bank transfers or bank deposit of the local currency (Naira), meaning the exchange’s wallet is for the purpose of remittance only.

One of the common problems with these cryptocurrencies and block-chain technology start-ups is that there is no exchange platform for Africa that provides them the ability to be listed and supported to come to lime light. These exhcanges also aren’t very flexible to use between FIAT currencies and digital currency. A few exchanges currently available are Ice3x, Luno and Golix. Ice3x allows the trading of bitcoin, litecoin and ether only against South African rand and Nigerian Naira. Luno only facilitates the buying, selling and storage of Bitcoin and the buy/sell operations can only be conducted between fiat and bitcoin. Golix allows users to buy and sell bitcoin using their bank account only and recently added some altcoins that can now be bought with the Zimbabwean dollar.

Having said this, there is a need for an exchange to support indigenous project in African, which will be listed and tradeable against other possible cryptocurrencies and fiat currencies as well. Also, because cryptocurrencies are still quite new and not so easy to understand, people will only want to involve themselves with easy-to-use and secure block-chain and cryptocurrency platforms, common problems like server overloads, lags and registration issues will easily drive them away. You can say: Due to the fact that there are very few exchanges in Africa, and the ones avaliable are limited in so many ways, vendex has been introduced to fill the gap. Globitext chairman (Jon Matonis) further emphasised that “every jurisdiction needs trading or exchange platform”.

Introducing Vendex!

The aim of Vendex is to empower investment and innovations in Africa as by expanding the reaches of indigenous projects in Africa through its exchange platform, enabling listed projects to be tradable. Vendex will also constantly list credible projects with high potential on both liquidity and user base. However, priority will be given indigenous coin/token projects from Africa.

The platform gives African users lots flexibility, granting users the unique ability to buy or sell any cryptocurrency of your choice instantly. The platform will also aid FIAT withdrawal and funding of users trading wallet(s), enabling the buying and selling of cryptocurrency using local currencies, specifically in Nigeria, as we aim to eliminate the difficulty of users acquiring foreign currencies before funding or withdrawing from their wallet(s) which is currently a huge problem.

The present and the future

The Vendexchange trading platform is currently in development, and should be ready by the end of Q2, 2018. In the mean time registrations are going on, with referral programs for user accounts and a chance at the token sales.

In the mean time you can refer friends and family to register and get rewarded Vend Tokens. There is also an airdrop/bounty program going on rewarding people who join/follow Vendex on social media platforms.

Join us and be part of the trading revolution in Africa

One of Vendex’s goal is to make Trading of cryptocurrencies easier and possible for the people in Africa. It is intended for everyone, as it will help the inexperienced trader to find investment opportunities, and for the experienced ones, it will save precious time by monitoring the market.

For more detailed information on Vendexchange, our whitepaper, road map, the upcoming Token Sale, and all Vendex developments head to our official website.

Follow us on your favorite social media platform; Twitter or Instagram to stay up to date with everything related to the project, especially the launch of our Token Sale website and how to participate in our airdrop and referral programs (you don’t want miss out on that).

Questions or comments? Join our Telegram Group and don’t hesitate to contact us: info@vendexchange.com. We look forward to hearing from you.