Frequently Asked Questions
Libex Quota is a digital platform that pairs alternative assets and transformational projects with crowd-based capital. This automated and transparent platform allows companies, investors and the ordinary person to trade safely and securely.
Libex is one of the first NFT marketplaces of its kind in Africa. Libex has the power of being empowered by its own blockchain technology, unlike other marketplaces which rely on external chains.
Libex was created for an international audience. However, we have made Africa our focus given the characteristics of the continent. NFTs have the potential to address socio-economic issues in Africa. With increased transactions being created, we have a chance to strengthen our economy and build a digital footprint around the world. The NFT landscape in Africa is still in its infancy, but there are a few key projects that are beginning to push this space forward. NFTs are the next generation of digital assets. They offer new economic opportunities and give consumers increased control over their data and identity.
The Blockchain is a series of blocks that store data. Blocks contain digital information that cannot be corrupted, changed or lost as there is no single point of failure. Blockchain technology provides greater transparency, instant traceability, increased efficiency and automation.
We strive to enable financial inclusion globally with a specific focus on the African continent, providing solutions such as cryptocurrencies and NFTs. Currently, banking systems have too many obstacles and regulations that make it hard for people to practice financial freedom and/or become investors. Libex intends to change that through education and providing a user-friendly platform that is safe and transparent.
An NFT (Non-Fungible Token) is a unique digital asset that is stored on a blockchain. It is like a digital certificate of ownership for a particular piece of content, such as a piece of artwork, a video, or a tweet. Unlike traditional digital assets that can be duplicated or copied, NFTs are one-of-a-kind and cannot be replicated, making them valuable for collectors and creators alike. NFTs are bought and sold using cryptocurrency, such as Ethereum, and their ownership and transaction history are recorded on the blockchain, providing transparency and traceability.
Non-fungible is an economic expression used to describe items that are not interchangeable with other assets because of their distinctive characteristics. Contrastingly Fungible items can be exchanged because their value defines them rather than their unique properties.
Non-fungible tokens (NFTs) are a different type of digital token that represents ownership of an item. This ownership is symbolized by varying unique characteristics and values. Ownership of the NFT asset is secured by blockchain technology. One of the characteristics of blockchain technology is that it is immutable, meaning that no one can change the data of ownership. What also makes NFTs great is that it is impossible to copy and paste a new NFT into creation.
Today NFTs can range from physical items such as property, memorabilia, and even musical scores to more digital assets such as gaming character suits and new weapons. Honestly, an NFT today can represent anything in both the real and digital world.
NFTs are currently at the center of the crypto world because of the staggering returns they can potentially provide. NFTs started with Cryptokitty in 2017, but in 2021 saw an explosion of popularity as more mainstream organizations such as the NBA saw their value. A major reason for this is that physical assets are subject to loss, damage, and fraud, while NFTs are digital and immutable thanks to blockchain. NFTs are a different take on digital assets, which is quite innovative and easier for non-technical people to understand and take part in.
Firstly, one does not invest in NFTs as NFTs do not fit any specific asset class. Instead, imagine the NFT as a deed acknowledging ownership of a particular asset. This does not mean that investing in NFTs is a bad idea. If you have knowledge of the asset that is behind the NFT, it could be a lucrative investment. NFTs also have a lot of pros as an investment. First, it is not restricted. Anyone can invest in NFTs. So not only can you invest in NFTs unrestrictedly, but you can also trade those NFTs with anyone around the world. Secondly, NFTs provide security in ownership of an asset, as possession is secured by the blockchain. Finally, NFTs are a fantastic way to learn about the exciting world of blockchain. NFTs do have a risk component to them. As with most assets, if you are not educated or do not fully understand what you are investing in, you may incur a loss. The bottom line is that NFTs are High Risk, High Reward investments.
NFTs are a new form of digital asset that represents ownership or tokenizes an asset. NFTs are non-fungible, meaning that each one is distinctive and are traded on marketplaces through the blockchain. On the other hand, cryptocurrencies are these digital economic instruments that one uses to buy these assets. They also allow all sorts of transactions, and they can be easily traded with other currencies.
For those who are uncertain about the potential of a certain NFT to increase in value, there are some crucial factors to consider. Outside of any speculation that may or may not be taking place, some main characteristics that will contribute to an NFT's growth include its use cases, design, and supply. Other criteria to consider when determining value are market behavior, buyer emotion, monetary potential, and the popularity of the asset's creator. In addition to these common factors, NFTs also have other categories that can drive their value, such as utility usage or cultural significance.
You can purchase Non-Fungible Tokens (NFTs) on the Libex NFT Marketplace, which is a blockchain-based marketplace that has been created with the intention of supporting African creatives and entrepreneurs. Libex provides a space for African creatives, investors, and tech enthusiasts to buy, sell, and trade their creations. NFTs are quickly becoming the new digital asset class and are constantly growing in popularity, with an ever-growing market of rare NFTs. Libex hosts this ever-growing market by having NFTs from some of Africa's best designers, international NFTs that have had success on the likes of OpenSea and Crypto.com, and NFTs with unique and rare utilities. We have an NFT for every interest and hobby!
Minting is the process of authenticating information, creating a new block, and recording that information onto the blockchain. This process usually comes with a fee (gas fee). However, some marketplaces charge exorbitant fees for this service. Some marketplaces charge over 1 ETH to mint a new project. That is a significant amount of money to pay for such an essential service! Libex wanted to improve financial inclusion around the world, so to promote this goal, we made it absolutely free for any creator to list their products on the Libex exchange. The only cost is a small transaction fee of 3%.
The Libex OTC platform is a cryptocurrency exchange platform where you can buy, sell, or trade cryptocurrencies for other digital currency or traditional currency like US dollars or South African Rands. The exchange acts as an intermediary between buyers and sellers, facilitating the exchange of cryptocurrencies. There is a small service fee for the services provided. The platform offers a range of features, including the ability to deposit and withdraw funds, place orders to buy or sell cryptocurrencies, view market data, and access trading tools and charts.
The platform supports trading of major cryptocurrencies such as Bitcoin, Ethereum, LBX coin, and more. You can find the full list of supported cryptocurrencies on our website.
Creating an account on our platform is quick and easy. Simply visit our website and click on "Sign Up." Fill out the registration form and verify your email address and KYC to complete the process.
You can deposit funds into your account by transferring cryptocurrencies from your external wallet to your exchange wallet on our platform. We also support deposit via bank transfer from all major South African banks.
Yes, the safety and security of all users' assets and the platform is a top priority. With the implementation of multiple layers of security measures such as two-factor authentication, rest assured that your funds are in good hands.
To place a trade on the platform, log in to your account, navigate to the trading page, select the pair you wish to trade, and place a market order.
Withdrawal processing time depends on the blockchain network's current conditions. Generally, cryptocurrency withdrawals are processed within a few hours.
Yes, we support trading between cryptocurrencies and fiat currency. You can view the available trading pairs on our website.
Libex Quota is a digital platform that pairs alternative assets and transformational projects with crowd-based capital. This automated and transparent platform allows companies, investors, and the ordinary person to trade safely and securely.
We fractionalize (tokenize) real-world assets into smaller investable pieces (tokens), using the power of digital technology (blockchain). Investors are then able to diversify their wealth and access opportunities they otherwise would not been able to.
Fractional or tokenized investing is a way of digitizing assets and converting them into smaller portions of ownership, which is then safely stored and recorded on the blockchain.
Fractional or tokenized ownership is digital currency that is represented by a token that is used to facilitate a real-world transaction using smart contracts. These tokens can be traded on the Libex Quota platform.
It is a computer program that automates, executes, controls, and documents events and actions according to the terms and conditions of an agreement.
A Security Token Offering (STO) is a public offering in which tokens, also known as security tokens, are bought and sold on the Libex Quota exchange.
Blockchain enables an asset to be easily broken down into smaller units, representing ownership. It further encourages the democratisation of investments in an immutable, transparent, efficient and safe manner.
Yes! Blockchain guarantees that once you buy tokens representing an asset, no single person, company or agency can erase or change the ownership of your token. It also allows for direct trading between individuals or institutions.
Any assets, financial instruments, funds, and services can be tokenized.
Yes. Tokenization facilitates fractional ownership of an asset. It increases liquidity, enabling fair market pricing, reducing the cost of financing admin., and through its automated process, saves time and money.
Yes. Investors can invest smaller amounts of money in an asset or project seamlessly thereby diversifying their portfolio. The platform is transparent allowing investors to see the history of the token. Tokens can be traded 24/7 with minimal hassle and near zero transaction fees.
Revolutionizing transactions on the blockchain, making them faster, cheaper, and more efficient than ever before to enable financial inclusion for all of Africa!
Contact Us
support@libex.ai
Location
WITS Innovation Hub,
Tshimologong Precinct,
41 Juta St, Braamfontein, Johannesburg, 2017