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ChainEx launches an automated instant trade-on deposit feature

The company will also allow traders and residents from other countries to access the ZAR market

South African cryptocurrency exchange ChainEx has officially launched an instant trade-on deposit feature that allows traders using the exchange to automatically offer trades executed once the deposit clears, according to media reports.

This feature helps an individual trader to assets and set up a schedule where an auto-chosen cryptocurrency is purchased at regular intervals. ChainEx will also allow traders and residents from other countries to access the ZAR market on their exchange platform.

This cryptocurrency exchange offers South Africans to buy, sell, and trade several cryptocurrencies in an exchange where Rand remains the default currency. ChainEx has also partnered with OKEx in 2020 announcing the official opening of the DOGE/ZAR market.

ChainEx announced this move after there was an increase in the number of residents from other countries who were allowed to make ZAR deposits and withdrawals including the trading in South African markets in BTC/ZAR. The company also listed SUSHI, Cardano (ADA), and Polkadot coins. ChainEx’s exchange is the only one in South Africa which has listed Yearn Finance, Uni, and 1inch.

Michael Bernardt, Head of community at ChainEX told the media, “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. 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!”

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