The second project under review in the African Blockchain Series is Bitfxt Project. Cryptocurrency exchanges are an important part of the crypto ecosystem. As a crypto enthusiast in Nigeria and Africa, one exchange you may have heard of recently that is causing a stir within the crypto community is an exchange called Bitfxt.
So who are they, what makes them unique from other exchanges, what services do they offer, what benefits do users get using this exchange? Lets take a look.
The Bitfxt exchange is an African exchange based in Nigeria. They are registered with the Securities and Exchange Commission (SEC) of Nigeria and are fully compliant. The Bitfxt Exchange is part of a bigger network called the Bitfxt project. There are some unique features of the exchange such as its’ matching engine. The Bitfxt exchange matching engine is capable of sustaining 1,400,000 orders per second, making Bitfxt one of the fastest exchanges in the market today. Another interesting thing about the exchange is, it offers one of the lowest transaction and withdrawal fees in the industry, with fast deposits/withdrawals. The exchange has a sleek and intuitive user interface with a smooth user experience. Bitfxt exchange is built to high standards, audited and penetration tested against security breaches and hacks.
The second predominant feature of the Bitfxt project and accessory of the exchange and services offered by Bitfxt is the Bitfxt Token also identified by the ticker BXT. The token is an Ethereum based token using the ERC-20 standard built with a proof of stake algorithm and a total supply of 20 million. The exchange token is the store of value in Bitfxt ecosystem. It can best be described as an utility token of the Bitfxt Ecosystem.
The BoundlessPay app affords crypto holders the ability to spend and store cryptocurrency in Nigeria and Africa. BoundlessPay was created out of the passion of Bitfxt to facilitate the adoption of cryptocurrencies for everyday use by merchants and individuals across Africa. Our exchange also issues debit card to users. This means that our users can spend their cryptocurrencies all over the world from our exchange using the BoundlessPay debit card.
It literally turns your phone into a mobile bank, giving its users access to a digital wallet which enables them to do the following:
- Use crypto for paying of utility bills.
- A debit card which you can use to send receive and also withdraw fiat on any automated teller machine (ATM).
- Access to crypto backed loans.
- Manage and store over 40 cryptocurrencies.
Bitfxt Coin tracker
Another feature of the Bitfxt ecosystem is the Bitfxt Coin tracker. It is simply a sophisticated software for tracking cryptocurrencies, exchanges and news. Those using the Coin tracker can easily keep to date with latest developments in the crypto space. You can get the Bitfxt coin tracker on the Google playstore.
This is the Cryptocurrency Staking and Storing platform created by Bitfxt Technologies. It utilizes a Proof-of-Stake (POS) Algorithm to calculate cryptocurrency staking and rewards ecosystem. In the Bitfxt ecosytem you don’t necessarily need to be a trader to earn, but by simply staking any crypto of your choice on the list of coins/tokens available for staking you can earn a passive income. Presently you can only stake the following cryptocurrencies in the Bitfxt ecosystem Bitcoin, Ethereum, Bitfxt Token, Steem, EOS, Dash and Bluekey.
visit the link to find out about the team behind Bitfxt
The Bitfxt Project arrived at a time when the cryptocurrency and Blockchain ecosystem in Africa is shaping up for real world adoption. The Project competes well with other Projects in the Industry and provides real time solution to the problem of spending cryptocurrencies. The Bitfxt Project is the first Nigerian Cryptocurrency Project to be listed on coinmarketcap. Furthermore, with Bitfxt you can use Naira to buy Cryptocurrencies and also trade any cryptocurrency of your choice for Naira and withdraw Naira directly to your Nigerian Bank account.
Trading on the exchange is live and orderbooks are liquid enough for trading. Paying of bills and spending Cryptocurrencies for everyday use has been made easy with the Boundlesspay App.
New projects looking to raise funds for their projects can easily achieve that through Bitfxt Initial Exchange Offering (IEO) Launchpad which is 100% transparent and regulatory compliant.