The popular South African cryptocurrency exchange, AltCoinTrader, has enabled its clients instant EFT deposits directly from their bank accounts.
Unlike other crypto exchanges that are limited to withdrawals from specific banks, the new feature is not limited to a specific bank account, thanks in part to a partnership with the leading South African payments fintech, Ozow.
The Ozow payment gateway acts as a proxy between the buyer/customer and the bank and the result is instant and secure payments.
Ozow is not an app that you have to download and save your online banking details or credit card and debit card details.
You simply go onto the site from which you wish to make a purchase.
To use the new service, here are the steps:
- Select ‘Deposit’
- Click on ‘ZAR – South African Rands’ drop down menu
- Select ‘Ozow’
- Enter bank account details
Speaking about the new feature, Richard de Sousa, CEO, AltcoinTrader, said:
“We’re really excited to offer this feature to our clients,” said in a statement to SA Crypto. “There are many times that clients see an opportunity in the crypto or gold and silver markets and they need to deposit more Rands into their AltCoinTrader accounts quickly. Now we are able to offer our clients exactly that.”
About 3 months ago, iCE3X exchange, the oldest and pioneering South African digital assets exchange, integrated with Ozow Pay secure payments allowing a ZAR deposit in under 60 seconds for free.
This made iCE3X the first exchange in South Africa to offer instant deposits from a South African bank.
Since 2013, Ozow has onboarded and continues to serve big players in South Africa that includes:
- DSTV
- Dis-Chem
- Hollywod Bets
- Takealot
- Vodacom
- ICE3x
- AltCoinTrader
By enabling Ozow payments on South Africa’s favourite cryptocurrency exchange, AltCoinTrader, traders can now buy Bitcoin and other cryptocurrencies faster. Ozow opens the world of e-commerce to the masses by allowing for instant payment at a fraction of the price.
Think of it as a new way to shop for cryptos online which is:
- Card-free
- Instant notifications
- Hassle free
- No registration needed
- Fast payments
The addition of 2 crypto exchanges into the Ozow fintech payment partners is a big step for the crypto space in South Africa.
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