New App for Indian UsersColin Baseman
Exchange aggregators have spread all across the planet. One of the actively developing markets is in India, where the number of people dealing with cryptocurrencies is steadily growing. CoinSwitch is proud to present its Kuber – an app for mobile devices the industry is going to introduce to attract even more users.
The application will start functioning in another three weeks, on the first of June, and will cover India only. The novelty supports one hundred coins. This, in turn, adds liquidity over exchanges present in the country. Soon, Indian clients will be able to trade using the Indian currency.
The app is safe and secure. Users must verify themselves though some certain procedures fighting money laundering and fraud. Once this part is accomplished, the user is welcome to perform deposits in rupees. The app simplifies the ways a typical Indian client applies while purchasing and selling crypto. It’s a user-friendly platform where there are no intricacies. The app offers a whole spectrum of modes and options to choose from. Customers can receive, send, and store funds using their accounts.
Analysts admit that the country had rather a tense relationship with cryptocurrency trading. Almost two months ago the Supreme Court abolished a restriction applied by the Reserve Bank of India.
Advantages of the Indian Market
The official representatives of the company report that their exchange has its mission, which is to transform the market and make it more innovative. Nevertheless, the ban imposed by the RBI made the team concentrate on the global market. The firm is planning to aggregate top exchanges to permit crypto-to-crypto conversions. They also intend to do this at the most reasonable rate, believing that the Indian market is full of opportunities and has quite a comfortable crypto ecosystem.
Analysts report that cryptocurrencies can grow and bloom – market conditions are truly favorable. More than that, there is an obvious lack of trust in traditional investments. If this is the case, then cryptocurrencies will draw more people prepared to work with it. Kuber Points are waiting for you upon signup. The more active the user is, the more Kuber Points he accumulates. This special feature will bring appealing crypto rewards and make your experience even more exciting.
The perspectives are attractive and the country is eager to test and try the new alternative to fully benefit from what the crypto industry has got to offer. CoinSwitch’s new product will serve as a tool for crypto adoption across the entire country. Before the company launches Kuber, the team expects to see over twenty-five thousand people sign up and become the first members of the service. The platform will not charge fees for operations for the first three months.
Looking Forward to Gaining New Experiences
There is a long road ahead. Step by step, cryptocurrency businesses will find more supporters and they will become popular in many countries. Traders can now find financial services in India, too. Despite all the efforts that participants make, the Indian regulatory system is not as comprehensive as it should be. The crypto market in India has faced several complicated conditions and the environment is not yet smooth and friendly.
It is important to mention that the RBI issued documents and regulations Indian banks can rely on while offering financial services for businesses related to cryptocurrencies. Unfortunately, there are hundreds of Indian banks denying having received any sort of notification. In the past few weeks, some of the major cryptocurrency exchanges have been seeking clarification on various issues, including tax policies and terms from the central bank.
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