Hong Kong-based cryptocurrency exchange, CoinCola has chosen Venezuela as their first new market. Best known for its peer- to- peer over the counter cryptocurrency network. CoinCola allows their traders to buy and sell the bitcoins using their local fiat currency.
The exchange will enter a strategic partnership with Dash in a bit to increase the flow of traffic. And it allows to the accessibility of digital currencies in the Latin America Country.
CoinCola will be adding the Dash coins to their OTC network and offer zero trading fee for all the dash transaction until 31st of this month. Venezuelan traders can earn a 50 percent commission for trading deals through the CoinCola refer a friend program.
CoinCola founder Allan Zhang said that CoinCola is averaging 1 lakh transactions every month on the platform. It is the second largest public OTC platform in the entire globe by transaction volume, and 95 percent of the transactions are only from Asia.
With the partnership with Dash, they will truly international and entire globe. They decided to partner with Dash only because it is the most efficient digital currency for payments and offers the lowest prices and also offers ‘InstantSend’ technology. Dash represents a strong presence in Venezuela, Latin America and other rest countries. They are very selective in with which coins we list to their platform and they are proud to offer Dash to Venezuelan users.
Dash is with its instant digital cash payment mechanism. It has established a growing presence in Venezuela with over 1450 merchants including restaurants, retail outlets and grocers by accepting cryptocurrency. It offers a form of money which is divisible, inexpensive, portable and fast. It spends easily online at merchant across the world. It is the only major funded and the most self- governed organization in the cryptocurrency industry. So it allows for the stable development and the funding for the entire plan.
CoinCola with dash aims to increase the adoption of cryptocurrencies in Venezuela by facilitating safe and secure trading at low prices.
Venezuela’s rapid rate of inflation has rendered the national currency almost less worth. It is with the local people facing shortages of basic needs such as food, shelter and medicine.
Cryptocurrency adoption in Venezuela has surged as the country looks towards a more transparent and stable which means storing and exchanging capital. Coin Cola is aiming to bring much-needed diversity and the accessibility to the local people of Venezuelan cryptocurrency market.