Crypto Exchange to Target African Market by Offering Low Transaction Fees

The company believes this has enabled a small group of traders to dominate the market and even manipulate it at will - resulting in extreme fluctuations in cryptocurrencies.

In time, KuBitX hopes its user-friendly platform will lead to the development of a diverse cryptocurrency marketplace for buyers and sellers - one that welcomes crypto enthusiasts even if they live in one of the remotest places on Earth.

Taking on market leaders Despite being a new entrant to the cryptocurrency exchange industry, KuBitX believes its service can offer considerable service improvements when compared to the established market leaders.

In another nod to its goal of becoming an accessible service for emerging economies, KuBitX says its transaction fees are considerably lower than its rivals.

To appeal to an international user base, KuBitX says it will offer online customer support 24 hours a day, in addition to a training platform where users can discover more about the exchange's functionality in programs tailored to beginners, intermediate users and professionals.

The company says the continent's entire banking system has been hindered by a lack of financial literacy, small national markets, low incomes and political instability, but it believes that hundreds of millions of people could have a better future if they are given the chance to develop a strong financial footprint.

The exchange says it has a "Huge" target market of 1.28 billion Africans to reach - and to do this, it plans to introduce channel ambassadors, whose mission is to raise awareness about cryptocurrencies and educate the public through meetup sessions.

KuBitX is going to first reach out to people in Uganda, South Africa, Angola, Ghana, Zimbabwe, Nigeria and Kenya - all with the view of gaining up to 10 million users within the first three years of operation.

Suite of financial services KuBitX says it has forged relationships with banks and payment providers to ensure that a range of services can be offered through its platform, including remittances, bill payments, fund transfers and merchant services.

KuBitX aims to go live by the last quarter of 2018, paving the way for global promotions to spread the word about its platform.