Posted on

CoinCola Joins Dash To Make A Difference In Venezuela

90 Views
2 Total shares
CoinCola Joins Dash To Make A Difference In Venezuela

CoinCola, a Hong Kong-based cryptocurrency exchange, has resolved to launch in Venezuela to reshape its cryptocurrency atmosphere. Admirably, CoinCola prides on having an over-the-counter (OTC), peer-to-peer virtual currency platform, which guarantees topnotch services. Moreover, CoinCola allows traders to use fiat currencies to buy and sell Bitcoin (BTC). Apart from the decision to launch in Venezuela, CoinCola has concluded all the necessary arrangements to partner with Dash (DASH); in order to encourage liquidity and accessibility in Venezuela. Elsewhere, the coin allows users to buy and sell Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH) and Tether (USDT). It also allows one-on-one trading that is completed through a secure escrow mechanism.

CoinCola’s Plans for Venezuela

According to the strategic partnership, CoinCola will catalog DASH coin on its platform. With that, the exchange will offer fee-less trading for all Dash transactions from now to the end of October, 2018. In addition, CoinCola is giving Venezuelans the opportunity to earn up to 50% commission for all trades that they complete through their reward program called the CoinCola Refer a Friend program. Additionally, the coin will offer competitive fees, OTC and coin-to-coin pair trading, and more incentives to Venezuelans. With those incentives, CoinCola hopes to increase liquidity and diversity to the Venezuelan cryptocurrency market.

Dash Efforts So Far

Indeed, Dash has made significant inroads on the Latin American country through its instant digital payment mechanism. Looking at the Dash team’s efforts so far, they have established a growing presence in the economically troubled South American country with over 1,450 merchants across it. Impressively, Dash’s presence exists in retail outlets, restaurants, and grocery stores. The company has used its “Dash Treasury DAO,” a decentralized investment fund, to make an impact by giving $33M USD worth of the cryptocurrency since 2015. With its move to Venezuela, CoinCola aims to improve the adoption of Dash countrywide through the facilitation of secure, safe, and low-cost trading.

Economic Woes in Venezuela

Today, the Venezuelan economy has become a shadow of itself due to the decades-long tradition of electing socialist governments. It also does not help that the international community is imposing sanctions on the country. The economy has dwindled, leading to an economic disaster of unprecedented proportions. To add insult to injury, ordinary Venezuelans lack basic amenities, food, and medicine. As the country turns to cryptocurrency to address its economic morass, DASH demand has soared. Cryptocurrency is increasingly playing a prominent role in the country as the value of the local currency depreciates to an all-time low. However, CoinCola and other virtual currencies could be the way out as the country looks forward to a more transparent and stable means of exchanging and storing capital.

RISK DISCLOSURE

This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

 

Join our Telegram Group To Stay Up To Date With Crypto News

 

Daily updates








LATEST CRYPTOCURRENCY NEWS FROM CRYPTOBLOCKWIRE

We are your go-to news source for everything cryptocurrency and blockchain in the U.S. and internationally.

CryptoBlockWire is your home for the latest cryptocurrency and blockchain news. It’s our job to provide you with access to the latest breaking news regarding Bitcoin, altcoins, and blockchain technology. There is nothing more exciting than being at the forefront of the cryptocurrency movement and financial consumer technology. CBW’s extremely knowledgeable writing staff use their experience and enthusiasm to publish the most current, accurate, and helpful stories in the entire crypto-sphere.