Clearer Regulations Vital For Crypto in India to Thrive - CoinDX Founders
CoinDX founders, Sumit Gupta and Neeraj Khandelwal were found discussing the Indian crypto space and what is in store for us during an interview. The founders stated that bitcoin has been able to maintain it's position and added more popularity to it while the other assets in the country have gone down, just like in most parts of the world.
They believe that better and clearer regulations are the need of the house for crypto space in Indian to thrive. The clarity in regulations would increase interest and open the door for jobs and bring Indian given its global reach, into the spotlight.
The COVID-19 catastrophe has hit Indian too and it is currently under lockdown, which has gone beyond 2 months now. The economy has crippled and the roots are shaken but still, bitcoin, an uncommon asset in the land where it was under a ban just a few months ago, has been thriving. CoinDX numbers show that crypto trading volume grew by 47% during the period.
The two founders added that while the coronavirus could have been a blow to the crypto space which is in a premature stage in the country and lack proper regulations even, it has not been impacted.
They highlighted that the ban upliftment was just in time to add credibility to cryptocurrencies and helped it survive.
CoinDX Owners Discuss Their EffortsWhile discussing their own firm, they emphasised on their work after the removal of the ban. CoinDX says it was the first to enable bank transfer so that Indian customers can buy digital assets directly through their bank in Indian rupees. The firm also partnered with Bitgo to increase crypto adoption in the country.
They also launched a TryCrypto program to increase awareness among the Indian community about what crypto space is and how to get familiar to it and use it, safely and securely, avoiding scams in its name.
?Big News for CoinDCX users@BitGo is now the custodian of CoinDCX.CoinDCX users' funds are completely safe and protected by BitGo’s USD 100 million insurance policy. Read more here: https://t.co/xi43KEh8Ed#TryCrypto pic.twitter.com/UZbG6iQkQR — CoinDCX: India's Largest Cryptocurrency Exchange (@CoinDCX) May 14, 2020
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Even the best crypto exchange in the world can get hacked.The only way to make an exchange secure is to take unique Initiatives. One such industry first initiative has been taken by @CoinDCX. Must Listen? pic.twitter.com/uMemduiTHE — Crypto Kanoon (@cryptokanoon) May 19, 2020
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About The Author
Zain RazaZain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.
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