In a South Africa first, Coindirect earlier this month launched a brokerage system aimed at traders who want to do large-volume cryptocurrency transactions (more than R50000).
Haralambous says Coindirect paid close attention to which users were driving the volume of crypto trading during the firm’s first two years in the industry.
“Our approach is to bring cryptocurrency to as many users as possible. However, the data shows that a majority of the daily trading volume in South Africa right now comes from a very small percentage of traders,” says Haralambous.
He says those traders spend an inordinate amount of time doing research in the market as they look to make large-volume transactions, at the best price, for the lowest fees.