The whole nation has still been experiencing lockdown amid rising cases of coronavirus. Not sure whether how much we have to wait for the vaccine to combat this dreadful disease. The disease made its beginning from Wuhan city, China, and got became a threat to the whole world including the big nation, India. Ever since its inception, it has crippled the world economy, including the Indian economy. Seeing such a situation, the Indian government under the rule of honourable Prime Minister, Narendra Modi, announced the nationwide lockdown to get protected from the clutches of COVID-19. Now, amid this crisis, when the whole economy is on its downside, it is surprising to see two new cryptocurrency exchanges stemming from their existence in India, while the remaining crypto businesses are looking up for central bank and RBI for clarification. To know which are these cryptocurrency exchanges, let us follow the blog below.
New Cryptocurrency Exchanges In India
If you follow live crypto news, regularly, then you have surely noticed the crypto sector developing in India, with the rise in many cryptocurrency exchanges and new users amid global pandemic situation due to coronavirus and nationwide lockdown. The launch of a new cryptocurrency exchange has been initiated or say launched by globally famed crypto exchange, Coinswitch. And the new cryptocurrency exchange which is being announced for its pre-registration on 1st June is Coinswitch Kuber.
Coinswitch Kuber, one of the new cryptocurrency exchanges aims for the best rates by gathering liquidity across all Indian exchanges. This cryptocurrency exchange is going to underpin multiple currencies (around 100) for the users in India for selling and buying of Indian rupees. The exchanges include Hitbtc, Huobi, Kucoin, and Binance. If users want to use this combined liquidity, then they are required to fill up the INR amount, and what cryptocurrency they want to have, and the service will list down the offers at multiple exchanges. Every 30 seconds, the auto-refreshes.
Among the new cryptocurrency exchanges, like Coinswitch Kuber, the other name include is Bitpolo, a cryptocurrency exchange based in Bangalore. This exchange proposes immediate INR deposits and affirms withdrawal in a few seconds. According to a chief business officer, the timing of the launch of Bitpolo cannot be much befitting at the time of such a global crisis caused due to coronavirus pandemic and flunking situations. Noticing the vulnerability of traditional asset classes, crypto markets are up to go for a bigger objective. Bitpolo, the new cryptocurrency exchange, is too coming up with easiest and sturdy technology for the Indian hodlers and traders.
Coronavirus has been a major factor behind the crippling of the global economy, including India. Amid such a serious phase, where nothing seems to be right in this nationwide lockdown, it is surprising to know the launching of new cryptocurrency exchanges like Coinswitch Kuber and Bitpolo. After the quashing of the RBI ban on cryptocurrency by the Supreme Court of India, there have been no further notices sent by the apex bank to the commercial banks about any denial of service for cryptocurrency business. That is why we are seeing the growth of cryptocurrency in the form of new cryptocurrency exchanges. So keep yourself linked to all crypto news to know more further updates.