What is Bitfxt.com?

4 min readJul 27, 2020

Did you just stumble upon Africa’s leading cryptocurrency exchange and are wondering what we are all about? Have you signed up or you’re looking to get more information first? This article will give you a detailed knowledge of Bitfxt exchange, what we are and what we are not. Why we exist and who our target users are. Keep reading…

What is Bitfxt.com?

Bitfxt is the exchange of the future and the fastest growing tech company in Africa. It is the marketplace for trading cryptocurrencies. Crypto investors from anywhere in the world can conveniently trade their cryptocurrency in a fast, secure and affordable exchange. When traders choose what exchange to trade, they are looking for optimal trading conditions with the best chance of making profit. That is what Bitfxt offers; the lowest trading fee, fast withdrawals, low coin listing charges, a rewarding affiliate program and solid international partnerships.

Bitfxt is indigenous (for the people)

Bitfxt was built by an African, in Nigeria, with the African continent at heart. “Why the focus on Africa?”… You may ask. Africa as we know, possesses a very large and untapped labour force of young and smart individuals. The population of young entrepreneurs who are focused on digitization, is on a steady increase. New technologies are spreading throughout the region…

As an indigenous exchange, we provide fiat pairs such as Naira and Kenyan Shilling. Being an African exchange doesn’t mean other continents are not welcome. We also have a US Dollar pair for non-African users. Everyone is welcome to use Bitfxt.com irrespective of location. Bitfxt is for You!.

Other local currency pairs will be added with time. For further read, check out this blog post on the Top 5 reasons why Bitfxt is the Best Exchange to trade in 2020.

Bitfxt is easy to use

Our exchange boosts your confidence as a trader through our simplified trading processes. The UI is easy to navigate and features are easy to find. Deposits and withdrawals are processed instantly and our support team is always online to ensure speedy response to your enquiries. Bitfxt.com was built to be beginner-friendly. The barrier of being a newbie does not exist here like in some other exchanges.

Bitfxt is secure

Security is paramount when life and property is involved. Even more important when money is involved. Bitfxt Exchange is a safe haven for traders to carry out day to day crypto transactions without the fear of losing funds to hackers. Security beaches and stolen coins affect all sides of a platform; the users, the asset owners and the exchange platform itself. Users lose their money, projects that are listed have to struggle to find a means of getting the stolen coins back and the exchange loses reputation. Bitfxt has in place, strict security measures that will ensure the safety of her user’s funds.

Bitfxt is Not an escrow

Escrow is the use of a third party, which holds an asset or funds before they are transferred from one party to another. The third party holds the funds until both parties involved in the transaction have fulfilled their contractual requirements.

In comparison with the above introductory statement, it is obvious that Bitfxt.com is NOT an escrow. We do not hold money for anyone. Bitfxt only provides an opportunity for investors and speculators to easily trade their cryptocurrencies.

Bitfxt is Not a bank

Bitfxt is not a bank and does not take deposits on behalf of its customers for savings purposes. This means that funds should only be sent to our platform for exchanging or trading, not for saving.

Bitfxt is Not a shop

We are not selling or buying cryptocurrencies from you.

This means that:

  • We cannot undo or “refund” orders.
  • We have no control over price.
  • Prices on exchanges are based on user activity.

If there are more or larger sell orders than buy orders, the buy orders start running out faster and this causes the price to go down.

If there are more or larger buy orders than sell orders, the sell orders start running out faster and it causes the price to go up.

This also explains why prices across exchanges are never exactly the same, as they have different users with different activities.

Have more questions? Join our growing community on Telegram and send a message to an admin.

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Scarlet is a web 3 writer with expert knowledge in Blockchain and DeFi