“Bitcoin” definition according to the Oxford English Dictionary.
After logging into your account, under your username you will see the balances of your wallet. By clicking on the Rand/Sterling/Dollar value, you will change to your preferred currency market for trading.
We have highly competitive trading fees. High volume traders get in touch to have your fees reviewed.
Trading commission between 0.8% – 1.5% per trade. So if you deposit R100.00 and you place a buy order, the maximum amount you will be able to BUY bitcoin for is R99.00 assuming you pay 1% commission.
Trading commission between 0.5% – 0.8% per trade. So if you deposit R100.00 and you place a buy order, the maximum amount you will be able to BUY bitcoin for is R99.50 assuming you pay 0.5% commission.
The growing ecosystem around Litecoin would indicate the necessary network maturity to be reliably traded.
Further, we recognise the high entry cost for South Africans to Bitcoin mining. Litecoin in our trading platform allows South Africans to mine and contribute to the overall ecosystem.
iceCUBED X is a secure exchange platform where you can buy and sell Bitcoin and Litecoin in South African Rand and Nigerian Naira. We are an open order book bitcoin and litecoin exchange with real orders from real customers. We do not perform any manual or automated trading and have no affiliations with any other business entity. We are a South African Company registered with CIPC in South Africa as a PTY and we part of the ‘Internet Currency Evolution Cubed’ group, head quartered in the Isle of Man.
The team behind iceCUBED can be found here.
It’s quick and free, with no obligations.
Jut click here and fill-out the the form. Click the ‘sign-up’ button.
Then, check your email (and junk mail folder) for the confirmation email. Follow the link.
That’s it! Very simple.
(You are now free to log-in to your iceCUBED account and deposit Rand, Bitcoin and Litecoin. Deposit instructions are below.
Please remember, while you can now deposit into your account, to withdraw funds from your account you need to be ID verified.
Read these instruction, complete with pictures, on ID Verification process).
You can deposit Bitcoin, Litecoin and Rand.
To deposit Bitcoin:
To deposit Litecoin:
To deposit Rand:
Incoming deposits of Rand from your bank are processed at least 3 times per day.
Funds can be received into your trading account as quickly as a few hours. Or, they can take 1-3 days to be received. This depends on the bank you are using and really is beyond our direct control.
Incoming Bitcoin and Litecoin deposits will appear in your trading account after 6 network confirmations. This depends on the speed of the Bitcoin and Litecoin networks at the time.
Click on the ‘Account’ tab in the blue menu bar, then click on the ‘withdraw’ tab underneath.
To withdraw Bitcoin or Litecoin:
To withdraw Rand:
Withdrawals of Rand from your iceCUBED account into your bank account are processed in batch runs. These are scheduled randomly 3 times per day. (business hours).
It may take up to 3 business days to reflect on your statement. This depends on your bank.
Bitcoin and Litecoin withdrawals from your iceCUBED account are authorised manually, in batch runs, at least 3 times per day. (business hours). This occurs more often when we have 2+ authorised admin. staff on hand.
We do not process your Bitcoin / Litecoin withdrawals immediately. There is a very good reason for this. Unlike some other exchanges, we run a 100% cold storage policy. This means all your coins are stored offline, in special vaults, away from online security threats. This is the safest storage method. Any exchange that does instant withdrawal can’t have all your coins in cold storage. So they are not following best practice. We always follow best security practice.
As a result, we can’t process withdrawals immediately. We must retrieve the coins from Deep Cold Storage each time. So, we process withdrawal requests in batch runs, throughout the day. You can read full details of our security system here. When we say “trade with confidence”, we mean it.
Log-in to your account and click the ‘Trading’ tab on the menu. Then click on the ‘Buy’ tab underneath.
From there you will fill-out the order form: select the ‘Instrument’ (bitcoin or litecoin) and the ‘Volume’ (quantity) you want to buy.
Then enter the ‘Price’ you would like to pay for each coin. The last sale price on the exchange is there by default, but you can enter any price you want.
Click ‘BUY’. Your order will be queued, ready to fill. You can see it in the ‘Open Orders’ tab.
Log-in to your account and click the ‘Trading’ tab on the menu. Then click on the ‘Sell’ tab underneath.
From there you will fill-out the order form: select the ‘Instrument’ (bitcoin or litecoin) and the ‘Volume’ (quantity) you want to sell.
Then enter the ‘Price’ you would like to sell at. The last sale price on the exchange is there by default, but you can enter any price you want.
Click ‘SELL’. Your order will be queued, ready to fill. You can see it in the ‘Open Orders’ tab.
A limit order is an order to buy or sell Bitcoins/Litecoins for a specific price or better within the predetermined time limit. When you place a BID order (buy), it will only be executed at the limit price or lower, alternatively when you place a ASK order (sell), it will only be executed at the limit price or higher.
The limit order will only be executed in the event that it matches an opposite order from another trader. Limit orders may therefore only be partially filled and are not guaranteed to execute partially or execute at all. Whilst limit orders do not guarantee execution, they do ensure you won’t pay more than the agreed price. If a limit order has been filled or partially filled and the time limit has elapsed, it will be settled.
The Financial Intelligence Centre Act 38 of 2001 requires all financial institutions (banks, exchanges, building societies, etc) to complete KYC (Know Your Client) procedures to verify the identity of their clients. These measures are intended to prevent money laundering.
In order to support and voluntarily comply with these regulations, we have to ask you to provide your personal details (names, ID number, date of birth, residential address) and proof documentation (scan of ID book, proof of residence etc). We check these details against an independent source (Credit Data).
Full instructions, with pictures are here.
For full information on 2-factor authentication and how to set it up, we highly recommend you click here.
Basically, this is a way to add extra security to your account. When activated you log in with your email, password and a unique number, provided by an app on your phone. The app on your phone is directly linked to your account. The app provides a unique 6-digit number. This number is different each time you log in.
For full instructions on how to set-up 2-factor authentications please click here.
Full instructions on how to set-up and use 2-factor authentication are here. We highly recommend you read that link.
Basically, each time you want to log in, open the application on your phone. It will show you a 6-digit pin. Enter that, along with your email and password.
Yes, we have an open Market Data API and a Trading API (for registered traders only). Click Here for more information.
Our terms and conditions can be found by clicking here.