Announcement Company News

CoinCola: Yes! We’re launching in Venezuela. Why?

October 11, 2018

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CoinCola: Yes! We’re launching in Venezuela. Why?

CoinCola was launched over one year ago in Hong Kong. We started because we wanted to give people a secure and easy way to trade cryptocurrency.

Since launch, we’ve facilitated thousands of trades on our platform and are constantly thinking about how we can make the experience better.

We have always believed in the underlying principles of blockchain technology and its potential to reshape the financial world. Transparency, security, and efficiency – these are the core values that continue to drive CoinCola.

And now, we’re happy to announce that CoinCola is going international, starting with Venezuela.

Why Venezuela?

For the past eight years, Venezuela has suffered substantial economic instability. Years of inflation, stemming from a collapse in oil prices and five years of recession, among other factors, have rendered the national currency almost worthless. The situation has now reached a tipping point with citizens now facing severe shortages of amenities such as food and medicine.

As the Venezuelan bolívar continues to lose value, cryptocurrency adoption in Venezuela has surged as the country looks towards a more transparent and stable means of storing and exchanging capital. Bitcoin trading from within the country has skyrocketed 85.4% over the course of 2018. Trading volume in Venezuela accounted for 2.29% of global trading volume in the first week of January 2018 and rose to 15.74% in August 2018.

Stability through Cryptocurrency

At CoinCola, we believe cryptocurrencies have the power to jumpstart the economy and offer a safe-haven in the middle of such instability. Our aim is to revive the Venezuelan economy by facilitating safe and secure trading at a low cost. We aim to provide a secure platform where Venezuelan citizens can exchange capital with complete trust and transparency.

We’re also excited to announce that we’ll be partnering with Dash to assist in increasing cryptocurrency utility and adoption within the country. Dash has already established a growing presence in the country with over 800 merchants accepting dash as a form of payment. The organization is making a concerted effort in Venezuela to build the crypto-economy, and initiatives include startup capital and support for entrepreneurs through the Dash Treasury DAO.

See also: CoinCola to partner with Dash in Venezuela launch

What Will CoinCola Bring To The Market?

Venezuela currently lacks an integrated platform which supports both over-the-counter (OTC) fiat-to-crypto trading and a crypto-to-crypto pair trading.

CoinCola’s OTC platform will enable users to buy and sell bitcoin (BTC), ethereum (ETH), tether (USDT), litecoin (LTC), bitcoin cash (BCH) and dash (DASH) using their local fiat currency. The CoinCola crypto-to-crypto exchange allows users to diversify and expand their cryptocurrency portfolios.

During the promotional launch, we will implement support and incentives for Venezuelan users:

  •     With competitive market fees reaching over 1% per transaction, CoinCola is offering a discounted 0.5% fee for OTC trades.
  •     Dash OTC trades will be completely free.
  •     Traders can earn 50% of commission for each OTC trade through the CoinCola Refer a Friend program.

CoinCola is available through our website (coincola.com) and via our mobile app for secure and easy trading on the move (Android and iOS).

With low fees, both OTC and pair trading options, and support for a growing list of cryptocurrencies, CoinCola will bring much needed accessibility and cryptocurrency diversity to the Venezuelan cryptocurrency market.

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