zarx.co.za

[Tim_vb]

A thread on thoughts and experiences regarding the XZAR cryptocurrency. My $0.05 is they seem to be trying to out SARB the SARB launching a central bank digital currency. Also what protects the investor from from the asset manager pulling all the funds and vanishing to Sao Paulo?

Edit..

XZAR (Cryptocurrency not ZARX exchange)

https://xzar.co.za/

 

[Snyper564]

A thread on thoughts and experiences regarding the ZAR X cryptocurrency. My $0.05 is they seem to be trying to out SARB the SARB launching a central bank digital currency. Also what protects the investor from from the asset manager pulling all the funds and vanishing to Sao Paulo?

https://www.zarx.co.za/how-it-works

Um what.... ZARX is not a crypto this is a securities exchange....

 

[Tim_vb]

Um what.... ZARX is not a crypto this is a securities exchange....

dammit ... meant to refer to https://xzar.co.za/ - will ask to delete and then recreate

 

[w1z4rd]

Its an ERC20 token. Like thousands of other EC20 tokens.

 

[w1z4rd]

Am I reading this correctly?

Ethereum Transaction Hash: 0xe3bd5bcb18... | Etherscan

Withdraw 785 XZAR to South African Tether: XZAR Token From AltCoinTrader | Success | Nov-23-2020 11:06:26 AM (UTC)

etherscan.io

785000000000000000000 tokens were created? (under event log)

Who created this? Who controls those tokens? Do they have the rands to back up that many tokens? What stops the person who created the tokens from just giving themselves several million?

 

[w1z4rd]

dammit ... meant to refer to https://xzar.co.za/ - will ask to delete and then recreate

Just edit your OP?

 

[Natas]

I asked them on FB where the token is listed, they answered that question, and I also asked them what they do with the underlying ZAR's, which was not answered. Ideally the underlying funds are in cash and near cash instruments but who knows.

I used to work in the custody department at a bank, and at they time begged them to offer "public balances", ie an account balance that anyone can see reflecting the amount held in a specified bank account, that people like ZARX holders can go to and verify and cross check the bank balance with tokens in circulation.

But more generally, the oke that runs altcointrader, the dude on the video, looks and sounds dodgy as f__k. I wouldn't trust that A hole with the R1 coin I found lying in the parking meter change tray the other day.

 

[acidrain]

Am I reading this correctly?

Ethereum Transaction Hash: 0xe3bd5bcb18... | Etherscan

Withdraw 785 XZAR to South African Tether: XZAR Token From AltCoinTrader | Success | Nov-23-2020 11:06:26 AM (UTC)

etherscan.io

785000000000000000000 tokens were created? (under event log)

Who created this? Who controls those tokens? Do they have the rands to back up that many tokens? What stops the person who created the tokens from just giving themselves several million?

Supply is 10bil.

South African Tether (XZAR) | ERC-20 | Address: 0x48f07301...F224f1054 | Etherscan

Token Rep: Neutral | Price: $0.00 | Onchain Market Cap: $0.00 | Holders: 275 | As at Feb-25-2026 06:07:40 PM (UTC)

etherscan.io

Since it's pegged, I wonder if they have R10b in the bank.

Uniswap seems to be one exchange. I'll stay away from this though.

 

[w1z4rd]

Supply is 10bil.

South African Tether (XZAR) | ERC-20 | Address: 0x48f07301...F224f1054 | Etherscan

Token Rep: Neutral | Price: $0.00 | Onchain Market Cap: $0.00 | Holders: 275 | As at Feb-25-2026 06:07:40 PM (UTC)

etherscan.io

Since it's pegged, I wonder if they have R10b in the bank.

Uniswap seems to be one exchange. I'll stay away from this though.

Thanks for that, still getting familiar with contracts.

I wonder whos backing up their 10 billion rand.

They listed on all the defi exchanges. Uniswap, altswap, etc. Along with thousands of other erc20 tokens. Which I think actually counts against it as the cost of ethereum transfers inhibits the use of this as a general coin. For me tokens are good for high value assets like stocks, not so good for things like use as a general currency. I dont wanna spend R30 (in transfer fees) to buy a R5 item.

Unless someone has 10 billion rand to back up this token, its a scam.

 

[Tim_vb]

Thanks for that, still getting familiar with contracts.

I wonder whos backing up their 10 billion rand.

They listed on all the defi exchanges. Uniswap, altswap, etc. Along with thousands of other erc20 tokens. Which I think actually counts against it as the cost of ethereum transfers inhibits the use of this as a general coin. For me tokens are good for high value assets like stocks, not so good for things like use as a general currency. I dont wanna spend R30 (in transfer fees) to buy a R5 item.

Unless someone has 10 billion rand to back up this token, its a scam.

Tether of ZAR then