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WITTY launches Africa’s first non-custodial peer-to-peer crypto exchange

Wittytech limited, a digital currency firm has launched Africa’s first Non-Custodial Peer-to-Peer Cryptocurrency Exchange Platform.

The platform ensures the seamless transaction of digital currencies while solving the challenges and risks associated with cryptocurrency trading and custody.

In a press statement Dan Ewah, the founder of the platform said the Vision of WITTY is to play the major role in breaking the third world fence by leveraging permissionless and trustless technologies.

“WITTY has opted to decentralise the peer-to-peer system of cryptocurrency trading, as against the centralised nature of most exchanges and even fiat money system. It is said that when the purpose of a thing is not known, abuse is inevitable. It is important to note that cryptocurrency was conceptualised to address the problem of centralization of assets.”

He adds, “A situation where a few had custody and control of everybody’s assets was perceived to have its limitations and flaws. So, crypto set to change that. As the crypto space continues to mature, we have seen the same centralisation which crypto was created to address. Today, most exchanges are centralised.”

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Ewah further added that the risk of this is further emphasised when you think that every now and again, there are cases of mismanagement or even embezzlement by the management of regulated traditional financial institutions. “So, you begin to shudder at the level of risk that users are taking by allowing exchanges to custody their assets, seeing that most crypto exchanges are not regulated.”

The Witty platform also allows people to connect their Trustwallet and/or Metamask to the Witty platform and do their transactions in a way that still keeps them in control of their cryptocurrency.“The Witty non-custodial peer-to-peer exchange currently supports BTC, ETH, USDT, BNB & the WITTY tokens.”

Other products/use cases being developed by WITTY includes: Staking Platform, Crypto Remittance Platform, Crypto Payment Gateway, Crypto Lending and WITTY fund.

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