In November, we announced the launch of a new platform, a result of our partnership with eZaga, a prominent digital banking and authorized financial services provider in South Africa. DoshFX was launched as a centralized crypto exchange that allows its users to invest in the cryptocurrency market using their debit/credit cards.
DoshFX’s website went live with some everyday services and the platform is planning to gradually unveil its new features to users. DoshFX is primarily focused on South Africa, but users from all over the world can sign-up and use its products and services.
What Does DoshFX Offer?
DoshFX positions itself as a driver for financial inclusion, highlighting the role of cryptocurrency and blockchain platforms in boosting people’s investing, trading, and financial inclusion possibilities. The platform provides the convenience of digital banking alongside the security and transparency of blockchain technology in one unique offering.
- — Easy Fiat On-Off Ramps: DoshFX allows its users to buy crypto assets with their debit or credit card.
- — Regulated for Investing: DoshFX is compliant with local AML and KYC regulations to help detect and prevent the use of digital currencies in money laundering and other forms of corruption.
- — A Free (Mahala) Crypto Account: DoshFX offers a free (Mahala) account to eZaga clients when they join. As an eZaga user, all you have to do is activate your DoshFX account to get access to numerous crypto assets.
How DoshFX Keeps the Funds Secure?
According to the DoshFX Whitepaper, “the exchange’s hot wallet has an automated procedure that transfers crypto funds to multi-signature cold storage based on a pre-determined equation of the hot wallet storage versus total funds, ensuring that the majority of assets are protected in the event of a platform hack or brute attack.
The user access is also encrypted, adding an additional encryption layer between the user and the wallet. Combined with the blockchain wallet approach, the user is significantly protected while still having all options for password recovery.
eZaga is a South African digital banking and authorized financial services provider that enables African users to open a bank account via their mobile phones in less than two minutes. It leverages mobile technology like USSD and a mobile app, existing banking infrastructure like ATMs, and a low-fee structure to empower unbanked people and organizations to achieve more.