Why iCE3X Added Litecoin Trading to South African Exchange
Why iceCUBED added Litecoin trading.
This decision was made for a variety of reasons.
Most importantly, demand was there from the community. It’s not our job to lecture people about the virtues of different coins.
We do however recognise that the cost of entering the bitcoin mining market is significant. Many miners in South Africa already have the equipment the used to mine bitcoin with but can not do so anymore at a profit, due to the advances of ASIC miners.
We now offer these individuals an opportunity to trade into the bitcoin eco-system with their mined litecoin.
Apart from that, we also analysed Litecoin deeply.
We decided offering Litecoin trading would be good for the iceCUBED brand, because it would be good for all South African’s.
- With a solid core-developer team and strong community.
- It has infrastructure being built up around it.
- Liquidity and has experienced a market cap above 1 billion USD.
- It has a significant number of merchants accepting it.
- It is the #2 alt by market-cap.
- Charlie Lee, Litecoin’s inventor, is the brother of Bobby Lee, owner of Chinese Exchange BTC China. Though pure speculation, any addition of Litecoin to BTC China could positively and dramatically affect the price. We want to give all South African’s a chance to possibly profit from this situation.
- Litecoin trading adds extra liquidity and trade opportunities for our customers.
- There are opportunities for all new miners coming onto the network. We want to help them.
In conclusion we see Litecoin as a solid coin with a bright future. Our customers see the same thing, no doubt. So we have delivered, as they asked. Happy trading!