Folks that trade cryptocurrency in large volumes will be pleased to learn that Coindirect has launched its own brokerage platform.
The platform was introduced earlier this month and is suited for high volume traders. That last point is interesting because Coindirect notes that a very small percentage of its South African user base trades cryptocurrency in high volumes.
“During our first two years in the industry we have paid close attention to which users are driving the volume of crypto trading. Our approach is to bring cryptocurrency to as many users as possible, however, the data shows that a majority of the daily trading volume in South Africa right now comes from a very small percentage of traders,” says chief operating officer at Coindirect, Nic Haramlambous.
Of course, trades of large volumes are good for Coindirect so no matter how few traders there are it makes sense for the firm to create this platform.
Coin direct says that Bitcoin quotes are locked in once confirmed and are processed instantly with no fees for conversion, when using the Coindirect wallet, and no slippage.
The platform also removes the wait time on transactions which can take up to 12 hours on some other platforms. Traders will also be able to avoid the usual up to two percent fee charged by some platforms.
“All the recent changes made to the platform have been made to ensure that our customers are afforded the most convenient and secure trading experience. Many of the updates have been the result of discussions with traders on what they need to take their Bitcoin trading to the next level. We have always envisioned Coindirect as a platform that exists as a solution, and the OTC model is just that,” says Haralambous.
Traders can try the Coindirect brokerage platform for free without any commitment over at the official website.[Image – CC 0 Pixabay]