SA crypto exchange launches auto-trade feature 

South African cryptocurrency exchange platform ChainEX has launched an instant trade on deposit feature for its users. The new feature will enable traders using the platform to automatically executed and complete trades without having to manually do so, this will occur once a traders deposit has cleared. 

ChainEX has launched an instant trade on deposit feature for its users.

What does this new feature mean?

The new feature allows users to repeatedly purchase assets and ChainEX has created an in-built feature that allows its users to schedule where their selected cryptocurrency is automatically purchased at chosen or regular intervals. This innovative mechanism means that users will have to apply minimal effort to reap the possible crypto rewards. 

Michael Bernardt, Head of community at ChainEX provides insight into the new trade on deposit feature.

 “For instance, you may want to buy ZAR 1,000 worth of Bitcoin or Ethereum on the first day of every month. This would be a great way for you to start dollar-cost averaging through an automated investing strategy.” 

International markets

In addition, the crypto exchange platform announced that it will allow traders and residents from across the world to access the ZAR markets on the exchange. 

The move to this open users offering has been prompted by the growth in the numbers on the exchange according to ChainEX. This will allow users from across the world to make ZAR deposits and withdrawals and trade in SA markets such as BTC/ZAR. The only requirement is that the international user has a South African bank account. 

ChainEX has also recently listed Cardano (ADA), SUSHI & Polkadot ad other coins. 

ChainEx

Founded in 2017, the cryptocurrency platforms provides a service that enables locals to buy, sell and trade different cryptocurrencies in exchange for South African rands as the default currency.

“Teaching someone about Bitcoin today is like teaching a man to fly in 1903. Our biggest goal at ChainEX is to equip and educate our users. Our blogs, social media and content is tailored around our users and what’s relevant in the industry. Our new features aim at making the experience easier for all our users. South African or not!” concludes Bernardt.

Read more: Local fintech launches service to enable crypto holders to exchange Bitcoin for goods and services

Featured image: Dmitry Demidko via Unsplash