Golix Exchange To Operate in Kenya, Uganda and South Africa

Golix had been making news in African Cryptocurrency news this month. After the news update on the case with Golix and the Reserve Bank of Zimbabwe, Golix has decided to expand its services to other African countries.
Uganda,Kenya and South Africa will soon benefit from Golix services. Golix is the firs Cryptocurrency exchange in Zimbabwe.
The Official statement from Golix was as follows:
As part of our strategy, starting from Friday, June 1, people in Kenya, South Africa and Uganda will be able to start trading from Golix. This is one of our plans to be the leading exchange in Africa, which is inspired by the vision to provide financial autonomy in the continent
The expansion to these countries is said to be an attempt to survive the suspension from the Reserve Bank of Zimbabwe.  Golix services to about 50,000 local users in Zimbabwe were suspended by RBZ. However, reports says an interim relief was granted following a law suit by Bitfinance against the Central Bank of Zimbabwe. While waiting for the final verdict Golix has decided to move to other African countries.
Moving to South Africa means real competition as South Africa currently holds the highest exchanges in Africa. Uganda is described in Africa as a crypto friendly country. It had been reported that Binance is planning to open an office in Uganda. Golix is thus is in good timing to win a larger market share in the African market by starting up in Uganda.
To make its services stand out, Golix will offer the GLX token which clients will be able to buy with fiat.  GLX token can then be used to buy other cryptocurencies on GLX at a zero transaction fee.
Golix equally promises lower fees in making transactions compared to the local and international money transfer methods.
The African Cryptocurrency market is made up of very few actors  with less competition . The expansion to other African countries will serve as an eye opener to investors to look into the African markets and the Cryptocurrency market as a whole. At the moment countries topping the Industry include Nigerai,Kenya,Uganda, and South Africa.
However, clients still complain of monopoly in these markets, thus need for more exchanges. Golix will join Luno in expanding the Cryptocurrency market in Africa.

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  1. Pingback: Binance Signs Up 40,000 Crypto Traders in Its First Week in Uganda | Bitcoin Exchange Script | Cloud Mining Script | Centos | linux | Ubuntu Tips

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