The month of May has been a rollercoaster for Zimbabwe’s most popular crypto exchange, Golix. At the beginning of the month, Golix were putting together plans for ICO which would have helped them to launch their own GLX token. These plans were halted when the central bank decided to ban cryptos.
The ban was overturned in court just this past week but during the time of the ban customers were trying to withdraw $30 000 a day and were failing because Golix’s banks had shut down their accounts. During this period we got multiple emails from customers who were trying to reach the exchange but were failing and I must say this is worrying. Below is one such email:
Even after the court ruling which was the first bit of positive news Golix had received in almost three weeks, there does not seem to be a shift in the way Golix has been communicating with their customers as we received the above email today.
We reached out to Golix for comment regarding this issue and they said:
All our official communication platforms are working. Our social media platforms are fully functional and so is our email and Whatsapp line.
Golix should be looking to build trust
I think everyone understands that the past three weeks have been a nightmare for Golix and they are in a crisis but so is every single customer who holds their money with them. The customers would like to be in the loop and should not have to rely for updates solely from Techzim when the customers themselves have a direct relationship with Golix.
Issues relating to money are sensitive and because they are, when a customer who wants to make sure their money is secure is obviously concerned when they reach out and they can’t get any support. Playing a disappearing act is not the best way to inspire trust when you are a financial institution that is holding people’s money.
Going forward it seems things will get better
Golix’s response could mean that going forward the customers will be attended to. Hopefully, that’s the case as the current state of affairs may fracture their relationship with customers.
Golix is a Cryptocurrencies exchange in Zimbabwe. Golix was founded in December 2014 and was initially called BitFinance while their exchange was called Bitcoin Fundi. The company was founded by Tawanda Kembo and Verengai Mabika. In May 2018, Golix was ordered to shut down operations... Read More About Golix