South Africa’s New Cryptocurrency Exchange OVEX is offering up to 7% interest on all holdings. This is a new offer coming from South Africa which happens to be a home of cryptocurrency exchanges which are all fighting for the first position. In order to maximize user advantage, OVEX is offering a new kind of interest account which allows all its users to earn up to 7% interest on their wallet balances. This feature which has not been found with any other helps this exchange to stand out among its peers in South Africa.
What is OVEX?
In simple terms, OVEX is a new digital asset exchange from South Africa that offers over 18 cryptocurrencies such as Bitcoin, Bitcoin Cash, Tron, Bitcoin SV, Crypto20, and TrueUSD.
How does OVEX work?
OVEX works just like other modern cryptocurrency exchanges. It provides all its users with mobile-ready services through which they can instantly buy or sell currencies. In addition, OVEX offers a secure and decentralized identity service. One of the most interesting things with OVEX is the fact that they offer interest-bearing accounts where investors can receive 7% interest on all their digital asset holdings. With OVEX, South Africans can buy and sell digital assets with the South African Rand. They can as well purchase cryptocurrencies at international rates without paying a premium.
The benefit of being able to purchase cryptocurrencies at international rates without paying a premium is due to the collaboration between OVEX and San-Francisco based company TrustToken Inc. This collaboration allows users of each party to buy TrueUSD at bank rates and have it deposited instantly and directly to their OVEX wallet. Note that TrustToken is the main company behind TrueUSD.
In support of OVEX, its CEO, Jonathan Ovadia, said: “The team and I have been working on this project for over a year and are incredibly proud of the offering we have built. Our goal is to provide the South African market with a world-class product and more importantly world-class liquidity. We have developed an exchange for all types of crypto enthusiasts, with an advanced trading interface as well as a simple one-click buy or sell option.”