iceCUBED Cryptocurrency exchange in South Africa has been making vast improvements to its trading platform over the last year, making the exchange one of, if not the most advanced cryptocurrency platform in South Africa for traders.
With a focus on traders of cryptocurrency, all the improvements have been based on the suggestions by the loyal user base. By having open communication with users, the exchange claims to have a better insight to what the users want in an exchange, and takes all suggestions into consideration.
We have constantly adapted the platform to suit the needs of the South African market and believe that we have the most feature rich cryptocurrency trading platform in South Africa. – Gareth Grobler, Founder of iceCUBED X.
What does iceCUBED exchange offer traders?
Cryptocurrencies offered on the exchange
As of July 2018, iceCUBED offer a variety of different currency pairs, with others in various stages of being added. Currently users can deposit Rand, and trade a variety of different cryptocurrencies on the exchange: Bitcoin, Ethereum, Neo, Litecoin, Monero, Dash, Zcash, Dogecoin and Bitcoin Cash.
Superfast Mobile Experience
One of the most noticeable changes during the recent update is the fast and responsive mobile interface. Packing all the functionality in such limited screen real estate is no easy feat, but appears to have been very well executed by the team!
TradingView™ Charts provide an advanced visualization platform for your Technical Analysis of the market on each trading pair. A wide variety of tools on the charts allow users to analyze patterns and screen capture the analysis to share the image with others. Professional traders use charts to make better decisions while trading, based on their analysis of the market. The TradingView™ charts are arguably the best available.
Trade / Classic Mode
For the professional traders on the exchange, iceCUBED X now has a “Trade Mode” layout, as opposed to the original layout to what they now call the “Classic Mode”, that the users are used to. The “Trade Mode” / “Classic Mode” toggle link at the top of the exchange, now allows traders to easily switch layouts instantly to the mode they prefer to trade on.
The “Trade Mode” layout is more compact and does not scroll at all, with everything you need being available at a glance (well suited for large screens). The “Classic Mode” layout is larger, and the user is able to scroll around to see the different areas of the exchange.
Limit Orders / Market Orders / Stop Limit Orders
While most other exchange in South Africa only have limit orders, the iceCUBED exchange offers Limit, Market and Stop Limit orders for traders.
- Limit Orders – Users set the amount of cryptocurrency they want to buy or sell, and the price they want to buy or sell at.
- Market Orders – Users set only the amount of cryptocurrency they want to buy or sell, and the platform will try to get the amount they want at the best available price.
- Stop Limit Orders – Users create a Limit Order that is kept off the order book, and only added to the order book once a specific “Stop Price” that the user sets, is reached.
Over the last few months we have been developing our “auto-trader” functionality and expect our clients to benefit greatly from this new set of features. Traders will now be able to not only manage their local portfolio, but instruct our algorithmic trading engines to perform automated arbitrage trades between multiple platforms seamlessly. – Gareth Grobler, Founder of iceCUBED X.
Day / Night Mode
There is now Day / Night theme toggle buttons, which switch the theme of the exchange from the classic white “Day Mode” to a dark “Night Mode” theme, which is easier on the eyes at night for the all night traders. For traders who are looking at the screen for long amounts of time, and late at night, the “Dark Mode” is a relief for the eyes. (Pro Tip: Using night mode also saves you battery power as you need less of the screen to be lit up)
Generous Affiliate program
The iceCUBED exchange has an affiliate program that is generous to its users. All users of the exchange have an affiliate link that they can share with their friends on social media.
The affiliate link is your unique link that will allow you to earn a commission from any users who use your link when they sign up for an account on the exchange. As the ‘introducer’ of that user to the exchange, you will instantly earn a percentage of every trade that user makes, for life. All earnings are paid immediately into your wallet on the exchange as users you have signed up make trades.
On Rand to cryptocurrency pairs, users are paid 25% of the trading fee in Rand into their Rand wallet. On cryptocurrency only trading pairs, users are paid 10% of the trading fees in the crypto that was traded, into their wallet.
Read our article about the iceCUBED exchange affiliate program here: https://www.bitcoinzar.co.za/ice-cubed-exchange-affiliate-program/
Speed improvements with fiat deposits
One complaint which users of the platform had,was the speed at which fiat deposits would reflect on the exchange. As intermediary, iceCUBED will only make funds available once the deposit has been cleared and settled by the bank in their account, which depending on the bank, could sometimes take up to 2 business days.
This fiat deposit speed issue has also been attended to, with improvements having been made at the bank switch level of the exchange. Having access to this infrastructure now enables iceCUBED X to clear deposits faster, which means they are available in the wallet on the exchange faster. Users seem very pleased with the near instant fiat deposit times
@ICE3X Deposited some Rand, and it's cleared in my account in 5 minutes!. Whatever you guys changed on that front keep doing it! Awesome!
— Christo (@LtMotion199) July 4, 2018
Reasonable volume based trading fee structure
The trading fee structure on iceCUBED exchange has been restructured to benefit new traders as well as those who trade more regularly. The trading fees have been restructured where the most you will pay is 0.5% of the trade, which is for small volume traders.
New fee structure is as follows:
- Small volume – 0.5% per trade
- Medium volume – 0.35% per trade
- Large volume – 0.25% per trade
Trading Fee Discount Plans
You heard that right….you can get a trading fee discount, on top of the new lower trading fee structure! Users who are awarded a Trading Fee Discount Plan (TFDP) have a percentage discount off the fee they are already paying.
If you are awarded a 0.25% TFDP for example, as a small trader you will subtract that from the 0.5% fee you would normally pay, and instead you will pay 0.25% like a large volume trader. If you are a Medium volume trader, and subtract 0.25% from your 0.35%, you will instead be paying 0.1% trading fee per trade! Of course if you are already on a 0.25% trading fee as a large volume trader, getting a TFDP of 0.25% means you pay 0% fees on trades while the plan is applied!
The question then is, ‘How do you get a TFDP?’, well, the answer is to reach out to iceCUBED exchange on social media (@ICE3X).
bitVoucha system to send cryptocurrency to other users for no fees
Users on the exchange can create a ‘bitVoucha’, which is a voucher that can be given to another user. The balance that you create the voucher for, is deducted from your cryptocurrency balance. The other user that you give the voucher to claims the balance.
We have seen users give a bitVoucha to friends, or students, so that they can claim it and test out trading on the exchange before they commit to making a deposit. This is a great way to introduce newcomers to cryptocurrency – Donna Liebenberg, SuperAffiliate @ iceCUBED X
This is a pretty cool way to send bitcoin or any other cryptocurrency to someone instantly, with zero fees, which is a great way to introduce a friend, family member, or even a student to trading cryptocurrency.
iceCUBED exchange have raised the bar on what can be done on local cryptocurrency exchanges in South Africa. If you have not already got an account on the iceCUBED exchange, you can follow our step-by-step guide here: https://www.bitcoinzar.co.za/how-to-buy-bitcoin-ethereum-litecoin-in-south-africa/