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SaBi Exchange Prepares for Ethereum Hard Fork and Upgrade

After a lot of inconclusive attempts to carry out the constantinople on the ethereum blockchain, plans are back in place to see to its success this time around, as every coin holder gears up for this date with history, Sabi Exchange has taken it upon her self to not only inform her users but also guide them on how best to go about this long awaited etheruem Hard Fork and Upgrade.

In a Press Release by the Exchange team, it clearly states that trading on ethereum will be placed on hold at about 1:00GMT+8, March 1, 2o19. other deatails are found in the letter below:

Dear users,
Ethereum (ETH) will undergo a hard fork & upgrade at the block height of 7,280,000 (expected to happen on March 01, 2019, GMT+8). SaBi exchange and Huobi Global will do the following responses for this upgrade on behalf of there users:

1. Before the hard fork (at 1:00 GMT+8, March 1, 2019), two hours before the fork we will suspend deposits and withdrawals of Ethereum (ETH) and all ERC20 tokens on Sabi.
All relevant tokens can be traded normally during the upgrade. It is recommended that you deposit the tokens in advance to SaBi exchange or Huobi Global, and we will help you with technical problems in the hard fork. Don’t worry.

2. ETH margin trade(where you can borrow more coin than you have to trade) will be suspended to enable us take snapshot of those having ETH on there margin account, and trading will resume after the upgrade is complete and the price is stable. Please pay attention to the announcement in time for the specific recovery time.
3. When the block height reaches 72,800,000, we will take a snapshot of user holdings of ETH on SaBi exchange or Huobi Global.

Accounts on SaBi in scope for the snapshot include

1.) OTC Account
(cash – Crypto)
2.) Exchange Account( crypto – crypto)

3.) Margin Account (you Can borrow more coin than what you have to trade)

4.) Contract Account(for Huobi users, SaBi user will soon enjoy these service too)
If any new coin are created during the Ethereum fork process, SaBi and Huobi Global will distribute those new coin based on snapshot data to their users immediately.
The distribution rules are as follows :
1) OTC Account:
2) Exchange Account
3) Margin Account :
new Coin will be distributed according to the snapshot ETH holding amount in any of these accounts above.

4) HB10: Coin will be distributed to the HB10 users proportionate to their ETH component coins.

Note You do not need to be technical to prepare for Ethereum hard fork
You do not need to miss out of the free coin from ethereum in case, if a new coin is created from the ETH fork.
In the past most users have not been rewarded by there exchange, after coins fork, even though the exchange get the new coin because of users holding, they mostly refuse to give there users back the new coin.

For example
(a) Bitcoin cash fork to BSV
(b) Monero fork
(c) Litecoin fork
(d) Zcash fork
(e) Bitcoin fork to BCH
(f) Bitcoin fork bitcoin Diamond
(g) bitcoin fork to bitcoin gold
(h) tezoz fork

And many more fork took place in 2017 & 2018 but most users never got the rewards of all the new fork coin, from there various exchange, instead there exchange took all the new coin from them and made profit, without giving there users both the original coin and the newly fork coin.

SaBi exchange will continue to serve it users with the best standard and practice. We remain the number one market for users to access over 240+ crypto pairs

1) sell or buy with naira against crypto(Cash-crypto )
2) You can also trade with crypto-crypto all in one place over 240+ pair
3) powered by the third biggest exchange by volume in the world Huobi
4) on SaBi Trade with no deposit fee, it free to deposit, no charges, what you deposit is what you see no reduction of your coin after you deposit on SaBi
5) trade with less charge. Naira -crypto and crypto – crypto All in one place with 240+ pair and you cut down your, withdrawal fee, maker/taker fee, transaction fee and deposit fee from multiple exchange
6) share market liquidity with the best and top exchange. like Huobi, binance, Bitmama, bittrex and you can now trade with naira with other users globally on the OTC section of SaBi
7) Avoid taking risk off opening, maintaining, transferring, depositing and withdrawal from one exchange to another just to sell or buy with cash or trading crypto to crypto in many different exchange.
8) save your time, your money and reduce risk of losing or depleting your coin when you have to transfer, withdraw or deposit from one exchange to another, its better you do it in one place. Since you have access to over 240+ pair of crypto in one place and you can sell or buy with cash still in the same platform
9) No more having many password because of multiple exchanges to do cryptocurrency
10) SaBi Team members and Technical Headquarters office in Nigeria, Singapore, Japan, Canada and China.
11) Protected by DDos Attack with privately built servers just for SaBi and Huobi Global businesses
12) leveraging from 6 years experience in business of Exchange, FinTech and blockchain service and wall Street , serving customers across the globe with local offices in 22 countries which is powered by Huobi.
13) SaBi team is driving growth with African government, as we have become part of some Blockchain sandbox, with engagement from Nigeria SEC, CBN and relevant authority .
10) SaBi will be lead by one of Africa most respected sought out speaker on blockchain and digital currency- Lucky Uwakwe.

A recent interview with the David Chen on cryptotvplus 

14) SaBi will be having a Grand get together soon with it users in the Community.
15) SaBi is powered by Huobi with a global clean track record, no history of hack and one of the oldest in the space since 2013, the only blockchain company to be listed in any world stock exchange market, Hong Kong stock exchange, as at 2018.

Huobi does a 24 hours trade volume of $1 billion dollars. we  are backed with the best technical and technology support, we also leverage on backup funds to protect our users in any situation.
We are opening Africa with the rest of the world. Stay tuned for more updates.

Do you have any questions or comments? Do drop them in the comment section and we will be glad to attend to them.

Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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Kudi Exchange is Live in Beta Testing

What else makes Kudi Exchange special? It is the first and only exchange in West Africa to offer a U.S. Dollar backed stable coin through our co-marketing partnership with Gemini

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Kudi Exchange is Live in Beta Testing

Ferrum Network in a Medium Post announced that it’s first product — Kudi.Exchange — is now live in beta testing with over 400 users in the pilot and 2500 more signed up!

This is big news for Ferrum Network because we built and launched a world-class exchange and payments product on a seed budget.

But it is even bigger news for the people of West Africa who for the time first time can purchase a U.S. Dollar backed stable coin with fiat and send fiat currency peer-to-peer instantly with no third-party intermediaries. We are proud to introduce Kudi.Exchange — A Digital Currency Exchange + Peer-to-Peer Payments App with U.S. Dollar Stability.

It’s a Fiat Gateway, But Runs on the Ferrum Network

What is Kudi.Exchange? It is a fiat-to-crypto exchange + mobile payments app based in Nigeria that runs on top of our network. With Kudi, users can buy digital assets directly with fiat. It is the fastest, lowest cost and most advanced digital currency exchange in Nigeria.

Why Nigeria? Nigeria is a massive crypto market. It has the 7th highest BTC volumes in the world, 1st in Africa, highest Google searches in Africa for “bitcoin”, a population of 200 million with 50% under the age of 35, and an existing financial system that is ripe for disruption.

Competing exchanges that offer far less regularly achieve $5 million USD in monthly volumes. With such a large market with low incumbent competition, we look forward to offering this product to millions of customers.

Faster Speeds, Lower Costs

How do we achieve millisecond transactions at lower cost than our competitors? Simple — the backend of Kudi.Exchange is running on the Ferrum Network— a high-speed interoperability designed for low cost financial applications. This means users can buy/sell/send digital assets faster and for less network fees than other exchanges.

The Only Exchange In West Africa to Offer U.S. Dollar Stable Coin

What else makes Kudi.Exchange special? It is the first and only exchange in West Africa to offer a U.S. Dollar backed stable coin through our co-marketing partnership with Gemini

Like many emerging markets, the demand for U.S. Dollars in Nigeria is high, but physical dollars are difficult and costly to obtain. Now for the first time, Nigerians can access digital U.S. Dollars through an app. They can rest assured those assets are backed by a fully-regulated trust company, Gemini.

Our market tests indicate that demand for a U.S. Dollar stable coin is incredibly high, and we are proud to offer our customers easy access to this critical safe haven asset.

It’s Also An Instant Peer-to-Peer Payments App

Perhaps the most exciting aspect of Kudi has nothing to do with cryptocurrencies. Remember — the market for people who deal only in fiat is far larger than those interested in digital currencies.

Therefore, Kudi also functions as a peer-to-peer mobile payments app for instant fiat money transactions. Our customers can now send Naira to each other instantly with no banking intermediaries at a fraction of the cost of a traditional bank app.

How is this possible? The Kudi.Exchange mobile wallet also doubles as a payments app. Users simply deposit their Naira into the app, enter the address of the recipient, and “send”. Customers can also send money to non-customers through their phone number or What’s App number, and the recipient will be prompted to download the app to receive the money. Since this all runs on Ferrum Network tech, the Naira is transferred in milliseconds, and it never goes through a third-party.

Normal banking apps in Nigeria can take up to 24 hours to send money, and charge fees on everything from minuscule transactions to using cellular data! With Kudi, users can now send Naira instantly peer-to-peer at a fraction of the cost. We are now talking to merchants who are interested in using this app to replace costly point-of-sale system, and who want to incorporate a fast, cheap, mobile payment solution.

More Transactions = More Burned Tokens

What does all of this mean for token holders? Well for now the exchange is running on a limited private Mainnet. But when the full Mainnet goes live in a few months, users will be spending FRM tokens for every transaction. Remember: every transaction that runs on the Ferrum Network burns FRM tokens.

With thousands of Nigerians sending Naira to each other, and buying/selling digital currencies, this will have an immediate positive impact on the Ferrum Network ecosystem.

In other words, Ferrum Network will be the first project with users, daily transactions and network utility on day 1 of main net launch.

Designed to be Replicated in other Markets

Finally, the best part is that this solution is not limited to one country. The technology is designed to replicated. We can easily import this solution to other emerging markets, and partner with existing exchanges who want to incorporate a U.S. Dollar stable coin and instant peer-to-peer fiat payments. And since it all runs on the Ferrum Network, the more we expand, the more it benefits the ecosystem.

Thank You to Everyone Involved

We want to thank TLG Ventures for being the driving force behind Kudi.Exchange. We also want to thanks all of our pilot users who are making sure the product is as great as it can be — you know who you are. Finally, we want to thank the Ferrum Network community for sticking with us since the early days. We could not have done this without you.

Coming Up Next

Since Kudi is still in the pilot, we will be sending weekly traction updates on our progress. You’ll also get updates on specific aspects of Kudi, including our user acquisition strategy, and expansion into other countries and other services (e.g. merchant point of sale).

Of course all of this is leading up to a token sale (details to be released soon) so YOU can get involved in Ferrum Network!

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An Overview of SaBi Exchange

SaBi Exchange happens to be the most advanced centralized Cryptocurrency Exchange in Africa. Find out more in this review by cryptowisser.
#BUIDL

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An Overview of SaBi Exchange
An Overview of SaBi Exchange

There are currently over 15 cryptocurrency exchanges in Africa with about five centralized cryptocurrency exchanges in Nigeria. However, among these exchanges. SaBi Exchange happens to be the most advanced centralized Cryptocurrency Exchange. SaBi Exchange was launched 10 March 2019. It was founded by Lucky Uwakwe and Peter Huang. Lucky Uwakwe is a graduate of Nicosia University in Cyprus and has earned a Masters Degree in Cryptocurrency and Blockchain Technology. He is the current Ambassador of Dash Cryptocurrency to Africa, Founder of Cheetah Africa and a citizen of Nigeria.

SaBi Exchange is based in Abuja Nigeria.

Huobi Partnership

The exchange is powered by Huobi Cloud and has the same security and liquidity features as Huobi. SaBi Exchange has partnered with Huobi to deliver outstanding crypto trading services to the region. According to the review from cryptowisser. It has not been able to verify the details of the Huobi partnership with SaBi Exchange and as such investors are advised to read this partnership details with caution. SaBi Exchange allows cryptocurrency deposits and fiat deposits on its platform with limitations.

Deposits

US citizens aren’t allowed to deposit fiat currency into the platform while some listed countries are allowed to deposit fiat currency. The countries allowed to deposit fiat currency on SaBi includes China, South Korea , Canada, Russia, Britain, India, Australia, Switzerland, Brazil, Taiwan, NewZealand, Singapore, Vietnam, Nethaland, Hongkong, Nigeria, Indonesia, Philippine, Cambodia, Middle-east, Malaysia, Myanmar, Turkey. Fiat deposits through Wire Transfers and Card Deposits are allowed using Qiwi, Paytm, Paynow etc. However, Cryptocurrency deposits are allowed by users worldwide.

Trades And Fees

Aside from the normal trade features, SaBi offers four types of trades. They include OTC-trading, Margin, Exchange and Leveraged Trading. The OTC-trading feature of Huobi Exchange comes under the following currencies—USDT, BTC, ETH and EOS. SaBi Exchange offers 2x to 5x leverage. The leveraged trading features are available on 41 trading pairs out of the 240+ trading pairs available for regular exchange trade. It also offers 0.20% trading fees on both makers and takers which is slightly below the normal 0.25%  fee charged by other exchanges worldwide. It charges a withdrawal fee of 0.0005 BTC. The withdrawal exchange fee charge is approximately 40% lower than the global exchange fee charge.

SaBi Security

SaBi uses the Huobi security protocol “Huobi Cloud” to secure its platform against hack attempts. It equally shares the Huobi liquidity to ensure a liquid trading platform for its users. The exchange platform boosts of speed and faster transactions on trading of cryptocurrency on its platform. Fiat deposits are available through wire transfer and debit cards with a good security feature ensuring the safety of users account details in Nigeria. Fiat deposit can also come through Paynow, Paytm, Qiwi, IMPS, UPI or Interac e-transfer on the platform. SaBi has developers with over 6 years of experience working with Huobi and Huobi Cloud.

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Sirin Labs and MyEtherWallet Partners to Increase Outreach of Blockchain Smartphone

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sirin labs ans myetherwallet partners to increase outreach of blockchain smartphones

Swiss developer Sirin Labs will fuse popularly known cryptocurrency interface MyEtherWallet (MEW) in its Finney blockchain smartphone, this was confirmed by the company on social media on March 21.

Sirin Labs, which released Finney late last year will now enable MyEtherWallet users to buy the device via the latter’s cell and web interface. Also, MEW will attribute as the go-to wallet interface for Finney customers.

The move according to Sirin and MEW came about as a result of a need to promote adoption and ease the process of assessing and handling cryptocurrency tokens.

“We’re always looking to bring more secure integrations to Ethereum to make our users feel safe while navigating the crypto waters, and we believe having an on-phone hardware wallet is immensely valuable to users,” – Kosala Hemachandra, MEW CEO and founder expressed to Finextra.

Hemachandra buttressed further:

“This will not only make it easy to send and receive crypto transactions, but it will also make crypto more accessible to a wide range of users.”

The partnership is the newest to close for Sirin that became popular among cryptocurrency users in 2017 when it signed Lionel Messi, a popular footballer as its brand ambassador.

“We see this integration as a strong step towards a greater market share for both companies, as the two products complement each other” – Zvika Landau, Sirin Labs CEO.

The blockchain smartphone arena already contains several players which launched devices at similar times. Recently, HTC partnered with web browser Opera to increase the functionality of its blockchain-centric offering, the Exodus. Samsung has also received consideration after it published it might come with a cryptocurrency wallet in its latest Galaxy S10 smartphone.

Disclaimer:

The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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Crypto Now Accepted By Largest Swiss Online Retailer Digitec Galaxus

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crypto now accepted by largest swiss online retailer digitec galaxus

Digitec Galaxus – a leading Swiss online retailer has announced that it will now accept cryptocurrencies in accordance with a press release published on March 19.

According to the announcement, the online retailer is now accepting bitcoin (BTC) Bitcoin SV (BSV), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Tron (TRX), NEO(NEO), Litecoin (LTC), and OmiseGO(OMG) on purchases over CHF 200 (about $200). the press release also claims that the online retailer host close to 2.7 million products ranging from wheat beers to shoehorns.

This new payment method was reported to have been jointly developed as part of a pilot project with swiss payment processor Datatrans in conjunction with Danish crypto payments startup Coinify.

Going further the managing director of Datatrans, Hanspeter Maurer said:

“We are keen to find out how Digitec and Galaxus customers take up this offer”

As part of the move towards crypto, if the customers of the online retailer choose the new method of payment – cryptocurrency, the checkout process redirects them to Coinify page where they would be asked to choose means of payment from a list of options. After which customers then receive a conversion rate that applies for 15 minutes as well as payment details QR Code format and text. the customer then activates the transaction with a crypto wallet.

There are no fee charges by Digitec Galaxus for any payment made with cryptocurrencies but a 1.5% fee is charged by Coinify of the purchase through the conversion rate.

Lastly, a blog post was also released by the company explaining its internal engineering team behind the crypto integration.

Picture Credit: Bitcoinist

Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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