What actually is it?
According to the abiding law Kanga Exchange does not store fiat currencies. The fiat money is handled in our exchange with the use of stablecoins, i.e. tokens with an exchange rate close to 1:1 to the relevant currency. An example of a commonly used stablecoin in Kanga is PLN° (called an Omega Zloty*).
How does it work?
By depositing zloties into the Kanga exchange the users buy PLN° from Kanga and when they decide to withdraw the PLN°, they are in fact selling it in exchange for Polish zloties.
Which stablecoins are used on Kanga Exchange?
Apart from the above mentioned omega zloty, other stablecoins used on Kanga Exchange are EUR° (omega euro) and USD° (omega dollar).
We have the approval of KNF!
What is crucial for us at Kanga Exchange is security in all aspects of the word: security of funds, user security and legislative security. While preparing to launch stationary and on-line cryptocurrency exchange offices we made every effort to obtain opinions from regulatory entities on the subject of our operations. Simultaneously we informed the National Financial Supervision Authority (KNF) about using the Omega stablecoin (the OmegaPLN in particular). The intensive correspondence and conducted workshops resulted in the KNF issuing its opinion on the 20th January 2020, confirming the legality of operations carried by cryptocurrency exchange offices.
Where can I use stablecoins and in what ways?
- on Kanga Exchange by paying for other cryptocurrencies, such as Bitcoin, Ethereum, alts and personal tokens,
- on Kanga Exchange by participating in the issuance of IEO,
- by paying for products or services with the use of a Pay by Kanga Exchange gateway (link to the product),
- by buying cryptocurrencies in one of the partnering on-line exchange offices,
- for individual transactions by sending a specific amount to a phone number or e-mail address of another Kanga Exchange user
Where can I deposit (buy) omega coins and how can I do it?
- directly on Kanga Exchange by using the payment services, i.e. Dotpay or PayByLink,
- directly on Kanga Exchange by a bank transfer,
- for cash in one of the 100 stationary partnering offices,
- in each partnering on-line exchange office,
- in a cash deposit machine (CDM)
Where can I withdraw (sell) omega coins and how can I do it?
- directly on Kanga Exchange by requesting a withdrawal in the form of a bank transfer,
- in an ATM by requesting an ATM withdrawal on Kanga Exchange,
- in one of the 100 stationary partnering offices in the form of cash withdrawals,
- in each partnering on-line exchange office by requesting a withdrawal in the form of a bank transfer or a BLIK cheque at an ATM