News24 Talks About ice3.com - South Africa

News24 & iceCUBED.

It seems the South Africa press is standing up and taking note of iceCUBED.

With the Rand value in free fall people are coming to our exchange looking to preserve their wealth.

Read the full story here.

“A perfect storm has formed and the Rand continues its plummet.

The key factors contributing to the decline: a balance of trade deficit, poor economic data globally and a mining sector hit particularly hard by weak global resource markets.

South Africa, as one of the ‘BRICS’, was often touted as an emerging market to watch.

These days it finds itself in less auspicious company; the so-called ‘Fragile Five’ (India, Indonesia, Brazil and Turkey)…

Gareth Grobler runs iceCUBED, a South African based Bitcoin exchange. Customers sign-up for an account on their web site and link it to their bank account. In minutes they are able to get rid of their Rand for Bitcoins. Gareth says that “we’re seeing all kinds of people sign-up, dozens each day. Fom teenagers to people in their eighties: people from different backgrounds. They’ve heard of Bitcoin, they want to learn more and they just want to get rid of their Rand.”

The new currency is not without its detractors and its fair share of media attention: both positive and negative.

As Gareth of iceCUBED notes, “It’s only young and new and hasn’t necessarily proved itself as a store of value. But a lot of people all over the world are making money from it. We’re proud to give that opportunity to South Africans. And they are embracing it.”

(This is not to be taken as investment advice, make sure you seek professional advice when considering financial investments).

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