Hong Kong-based cryptocurrency exchange CoinCola has chosen Venezuela as their first new market. Best known for its peer-to-peer OTC cryptocurrency platform, CoinCola allows traders to buy and sell bitcoin using their local fiat currency. The exchange will also enter a strategic partnership with Dash in a bid to increase the flow and accessibility of digital currencies in the Latin American country. As part of the partnership, CoinCola will be adding the Dash coin to their OTC platform and offer a 0% trading fee for all dash transaction until October 31st, 2018. Venezuelan traders can also earn 50% commission for trades completed through the CoinCola Refer a Friend program.
On the partnership with Dash, CoinCola Founder and CEO Allan Zhang, said “CoinCola is averaging 100,000 transactions every month on our platform. We are the second largest public OTC platform in the world by transaction volume and at this time 95% of total transactions are from Asia. With our partnership with Dash, we will be truly global. We decided to partner with Dash because it is the most efficient digital currency for payments, offers the lowest fees, and provides ‘InstantSend’ technology. Dash represents a strong presence in Venezuela, Latin America, and the rest of the world. We are very selective in with which coins we list to our platform and we are proud to now offer Dash to Venezuelan users.”
Dash, through its instant digital cash payment mechanism, has established a growing presence in Venezuela with over 1,450 merchants including grocers, restaurants and retail outlets accepting the cryptocurrency. The organisation’s ‘Dash Treasury DAO’ – a decentralized investment fund – has granted over $33 million-worth of dash since 2015. Together with Dash, CoinCola is aiming to increase the adoption of cryptocurrencies in Venezuela by facilitating safe and secure trading at a low cost.
Venezuela’s rapid rate of inflation has rendered the national currency almost worthless, with citizens facing severe shortages of amenities such as food and medicine. Cryptocurrency adoption in Venezuela – Dash in particular – has surged as the country looks towards a more transparent and stable means of storing and exchanging capital. With both OTC and coin-to-coin pair trading, competitive fees and additional incentives for local users, CoinCola is aiming to bring much-needed accessibility and diversity to the Venezuelan cryptocurrency market.
CoinCola is a Hong Kong-based cryptocurrency exchange offering both over the counter (OTC) trading and coin-to-coin pair trading in one integrated platform. They offer fast, secure and easy-to-use trading services at competitive fees. The CoinCola OTC Marketplace allows people around the world to use their local fiat currency to buy and sell bitcoin (BTC), ethereum (ETH), dash (DASH), litecoin (LTC), tether (USDT) and bitcoin cash (BCH). Trading is done on a person-to-person basis and transactions are completed via secure online escrow. The CoinCola Exchange allows users to expand their portfolio by trading one digital currency for another. CoinCola offers bitcoin (BTC) and tether (USDT) as base currencies and supports a growing list of crypto-to-crypto trading pairs. The CoinCola mobile app allows users to stay on top of the markets and securely access their account on the move.